Give the Cash Rewards a few months of responsible use and they'll more than likely grant you an increase on that $1k limit. I have a story similar to yours when it comes to NFCU. If you make your best effort to do right by them or make right having caused them a loss, they will forgive you. The down side of it is that in the beginning, you won't always be granted the best of APR's but they'll still extend credit to you. I personally have a portion of my direct deposit sent to NFCU and the rest to another CU. No point in placing all your eggs in one basket as you're already back in their good graces. You may want a Chase card later.
Starting Score: 686 TU / 683 EQ 01/17/2013
@ihatemyscore wrote:
I think I recieved a pretty good rate on the cash rewards but I will! The question is to keep the secured or not?
I should of apped for the cash rewards first!
Keep it. I app'd for an unsecured NRewards card while waiting for my secured NRewards card to graduate. After paying off the remainder of a signature loan I had with them, they unsecured my NRewards card and gave me an automatic increase. I then PC'd that card to the Cash Rewards Visa that I have now and the limit has since grown exponentially. The max amount of credit cards that you can have with NFCU is three I believe, but there is no point in shutting down the secured card when it has the potential to graduate. Just my 2 cents.
They are a good CU. That's all I can say. It's the green color Cash Rewards card. Doesn't say siggy on it though. My guess is because even though it's at $14k now, it hasn't been for very long. Either way, I'm happy and I'll take it. Secured card to an unsecured 5 digit card is great any day. And what's even better, is that it did not result in a new tradeline because they were both Visas. They just changed the product and left me with the same credit card number!
I think that's a good idea. You'll be in even better shape in no time.
