BOA Secured or NFCU Secured?

[Anonymous]

Looking to get a secured card to help out the credit score.  I'm looking between BOA Secured and NFCU Secured.  I'm leaning towards NFCU but would like to get other people's opinions first.  

Also, can I use a Overdraft Line of Credit to fund a secured card?  I'd be paying it in full within the next few weeks anyway but would like to get the ball rolling on opening the new account.

[happypill]

I can recommend BofA.  Their secured card pretty reliably unsecures at between 5-12 months, and once unsecured they don't hold it against you that it was once a secured card.  I was able to get mine converted to a BBR, and have seen others that have had them converted to cash rewards and travel rewards eventually with very big limits.

The only drawback is that they won't approve everyone, even though it is secured (to me that kind of defeats the purpose).  I had to recon to get the secured card approved, but it was definitely useful in getting the relationship started with them.

[Anonymous]

I applied for a rewards card and was denied but was pre-qualified for the secured so I'm pretty sure I can get it.  However, I've heard a lot of good things about NFCU and how quickly the CL grows so I'm debating back and forth between the two.  

[Anonymous]

They're both winners. NFCU has rewards and no AF if I recall. BOA has a $39 AF, again based off memory so please double check.

I'd say from an order perspective it would be better to get the BOA secured which, after good payments will not only unsecure but will help open the door for NFCU unsecured. It's a little harder the other way around from what I've heard, though my experience was different. I have a Visa Sig with BOA and was denied at NFCU, so YMMV.

[Anonymous]

You can fund the NFCU with the clock I did

[Anonymous]

My cloc is with penfed not NFCU. How can I find the secured card that way?

[Anonymous]

oh not sure but through nfcu i have my other credit union linked up and did it that way, can you link penfed account with nfcu, I have penfed but never used them since they turned me down in the past

[Anonymous]

I linked my Penfed account but NFCU says you can't transfer into a checking or savings account?

[Anonymous]

does penfed come with checks for the loc, if so i would write one out and do a mobile deposit into the nfcu savings

[Anonymous]

It doesn't look like they could me with checks. The only other way I can find is to do a western union. With a cloc limit of $500 and a $12 fee for the western union I don't think there's any way to pull it off. I guess I could deposit a few dollars into checking to cover the fee now that I think of it...