NFCU Graduation North of 2k ?...

[M_Smart007]

"I would make sure your first Statement is an actual statement/Full Statement"

This ^^^^^^^

[NeverTubetheGoose]

@pip3man fingers crossed for you. When I say early, it was maybe 2 or 3 weeks less than my 6 month anniversary.

[pip3man]

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@Andy77 wrote:

Hello,

I am confused as to when my NFCU N Rewards will possibly graduate. 

Is it after six statements or after 6 months ?

My card was opened on 5/22/20.

Six statements will be on 11/19/20

Six months will be on 11/22/20 (after November statement cuts)

December 19th statement will be just shy of having the card open 7th months 

Do I have to then wait until December for the card to possibly unsecure since the six months does not fall before the statement cuts in November ?

Thank you.

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What I would like to chime in is, don't exactly expect your card to graduate at the 6th month or statement. That may be setting yourself up for disappointment if it turns out the other way. I've read stories of folks on here waiting a year or longer for graduation... I'll just say have the mindset that you'll graduate in a year so if it happens sooner - great, if not, at least it won't come as a surprise. Thankfully I have no immediate need for my $5k collateral so I'm cool with tying it up as a credit line... but if after a year and no graduation in sight, it's getting the axe. Good luck and here's to hoping you graduate on time.

[Andy77]

Well my 3k secured card had its statement cut on the 17th. I called in on the 18th to see if there were any notes of the card graduating. The rep said it was reviewed but there were no notes. 

Today I called in and asked a rep to confirm my account was reviewed during the last two days and I said if so, I am concerned because that reiview would have been with CR informaion that would not have been updated with the CR's yet since it takes a few days for information to update. This rep said my account was not reviewed. 

So, not sure which rep to believe now.

My other account, one month older, had its statement cut last night, so I assume if that one unsecures it will be sometime next week since today is Friday.

I don't qualify for CLI's because underwriting wrote me and said if you have a secured account limit at 1500.00 or more you don't get a CLI at 3 months or beyond, just FYI, I can't use the CLI as a determination if either one of my cards unsecured.

I am crossing my fingers one will unsecure very soon, it just frustrates me when two different reps tell you different information.

[1GaDawg85]

patience is a virtue when it comes to graduating with a secured credit card. 

[Anonymous]

@Andy77 I second being patient. I know it can be frustrating to wait for graduation (I'm impatient myself at times), but give it time. I believe the fresh bk may be playing a role.

You can pull your Equifax report and TransUnion report and check if they soft pulled you. You can check annualcreditreport.com, but you can also sign up with Equifax and get a free report from them.

Keep in mind once you hit the year mark, you might actually be approved for an unsecured card with Navy (even if the secured cards don't graduate).

[Andy77]

@NeverTubetheGoose I called in today and was told my 5k secured card is in the process of converting. The rep said she checked another screen and its coverting to a cash rewards card. My 3k card, opened one month prior, but still had 6 statements cut is not unsecuring right now.

With that said, should I ask for a CLI ?

I am hesitant because I applied for an Amex and got denied for many reasons about a month ago. If the UR is different for CLI's than being approved for a new card, I think I will try for the CLI, especially since I brought the balance up to 4800/5000k limit and PIF a few times.

Thoughts on the CLI ?

[NeverTubetheGoose]

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@Andy77 wrote:

@NeverTubetheGoose I called in today and was told my 5k secured card is in the process of converting. The rep said she checked another screen and its coverting to a cash rewards card. My 3k card, opened one month prior, but still had 6 statements cut is not unsecuring right now.

With that said, should I ask for a CLI ?

I am hesitant because I applied for an Amex and got denied for many reasons about a month ago. If the UR is different for CLI's than being approved for a new card, I think I will try for the CLI, especially since I brought the balance up to 4800/5000k limit and PIF a few times.

Thoughts on the CLI ?

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Based on my experience, you will have to wait 6 months from the time of the last CLI, even on a secured card. I went up to $5k on my secured card in August so even though I graduated, the CLI clock is still based on August. When did you last increase your limit on your $5k card?

[Andy77]

June 9th was my last increase, so I guess I have to wait until December 9th or so.

[NeverTubetheGoose]

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@Andy77 wrote:

June 9th was my last increase, so I guess I have to wait until December 9th or so.

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@Andy77 I would wait about a week or two more just to be safe.