My navy federal secured is about to graduate. Should i apply for another card once it does?

[Anonymous]

So im about to come up on the 6th statement for my navy federal secured card. My scores were all in the mid 500's when i applied for and recieved the card. Now my current Fico scores are 628 on experian 642 equifax and 654 on transunion. I also have a student loan that is about to be fully rehabbed and out of collections. My last payment is the 19th of this month. 

The questions i had were A) should i expect to recieve a decent limit on the card once it unsecures? And B) Should i apply for another card once it unsecures.

If it helps the only baddies on my credit are late sudent loan payments about 2 years ago and the current student loan in collections that is about to be rehabbed.

[Anonymous]

Most likely once your card graduates you will get a 2k limit, that seems pretty standard.    Personally I would put some time between the graduation and a second card because you are finishing up the rehab on your student loan. I would let that settle out for a couple of months, exercise the graduated card and PIF or nearly PIF each month, let your profile improve and then go after a second card.  Of course you could go for it now, I actually got a second card with a 6K limit before my secured card graduated.  I suggest patience but I have been guilty of not following my own advice.  

[skizzo82]

My card recently graduate this week from a 500 secure to now a 2000 unsecured cash rewards card.

had the secure card for exactly 6 months. I just applied for the go rewards card and was approved at a 10k cl.

my current

FICO 8             FICO 9

Eq 590.            592

Tu 594.            575

Ex 579.            572

Going off TU I have late payments 30+ days=13

60+ days=8

collections 3

time since last payment is 1 yr.

[Anonymous]

Thanks guys this helps a lot!

[Anonymous]

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@skizzo82 wrote:

My card recently graduate this week from a 500 secure to now a 2000 unsecured cash rewards card.

had the secure card for exactly 6 months. I just applied for the go rewards card and was approved at a 10k cl.

my current

FICO 8             FICO 9

Eq 590.            592

Tu 594.            575

Ex 579.            572

Going off TU I have late payments 30+ days=13

60+ days=8

collections 3

time since last payment is 1 yr.

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wow! your profile looks similar to mine as far as numbers go. mine recently graduated in April. I did the AMex card with points with a 2k limit. I may apply for an additional one also.

[skizzo82]

I actually called back and they told me the graduation doest automatically change the card. 

so i did a product change for the go rewards to get the 2k cl instead of the 10k cl. And changed the 10k cl to the 

cash rewards since cash back would benefit me more. 

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@Anonymous wrote:

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@skizzo82 wrote:

My card recently graduate this week from a 500 secure to now a 2000 unsecured cash rewards card.

had the secure card for exactly 6 months. I just applied for the go rewards card and was approved at a 10k cl.

my current

FICO 8             FICO 9

Eq 590.            592

Tu 594.            575

Ex 579.            572

Going off TU I have late payments 30+ days=13

60+ days=8

collections 3

time since last payment is 1 yr.

---

wow! your profile looks similar to mine as far as numbers go. mine recently graduated in April. I did the AMex card with points with a 2k limit. I may apply for an additional one also.

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[skizzo82]

I applied for another card for the hellavit and was approved for the nfcu platinum

was approved for 1k.... maybe because my cash reward balance was high at the time. 

current fico 8

TU-618

Eq-597

Ex-604

will try a CLI  on the GO rewards since its based on EQ score once that hits over 620