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NFCU SECURED WITH BADDIES ON CREDIT

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Frequent Contributor

NFCU SECURED WITH BADDIES ON CREDIT

My wife and I joined nfcu back in July. While her credit is hovering right under fico 600 across all bureaus. The rep advised her to get a secured card and it was also on offers online. She app and was approved with a limit of 300. She's au on majority of my cards listed below which has her scores where they are. While she has 3-4 late payments in the last 24mths and 5 collection dating back about 5yrs, should she still try to app for a unsecured card after her 3 statements or wait 6mths +. She also had an indigo card(6mths) and a installment loan(2mths) in good standings. We started working on her credit about a yr ago and she's come a long way........what advise would you suggest
CSP 17.8K
CHASE FU 7k
BECU VISA CARD 13K
BECU LOC 10K
CONNS(SYNCHRONY) 10K
MY JEWELERS 5K
NEW COAST DIRECT 5K
REGIONS PLATINUM 4K
BBT CASH REWARDS 3.5K
BBT TRAVEL 3.5K
PFU(ELAN FINANCIAL) 2K
CAP1 QS1 1.5K(closed GONE)
DISCOVER IT 2K
KAYS 1K(closed GONE)
NFCU CASH REWARDS 4.5k
CREDIT ONE 500(closed GONE)
OPENSKY 300(closed GONE)
DISCOVER(AU) 38.6K
CITI(AU) 12.5K

INCOME = 207K

Score for Fico are: Oct. 2019 Util 5%
Eq= 689
Trans= 719
Ex= 692
Inquires in last 24mths(Aug19)
Eq= 15
Trans= 12
Ex= 17
Accounts in Last 24mth= 19 6mths= 8(Aug19) 4 accounts have been closed
Car Loan= 1
Installment Loans= 5
CC= 12
4 AU accounts for AAoA since I have so many accounts(lol)
(1)10yrs, (3)8yrs
6 REPLIES 6
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Super Contributor

Re: NFCU SECURED WITH BADDIES ON CREDIT

I would keep working on the baddies through good will deletions or keep insulating them with on time payments, and garden for at least a year. And get rid of the cards with annual fees, right before they renew. 






Message 2 of 7
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Valued Contributor

Re: NFCU SECURED WITH BADDIES ON CREDIT

With score below 600 the only unsecured cards she will qualify for are more cards just like Indigo. Use the AU cards. Don’t apply for anything new until her scores hit 670. Work on the charges offs collections and other things on her report that are holding her score down.

Message 3 of 7
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Frequent Contributor

Re: NFCU SECURED WITH BADDIES ON CREDIT

Her nfcu hasnt reported nor the 2 cards i just recieved that shes au on so i told her to see where her scores sit after that and also with 3 statements of her secured card before she app for an unsecured after 3 statements. We are workng on her baddies and hopefully theyll be taking care of in the next few mths

CSP 17.8K
CHASE FU 7k
BECU VISA CARD 13K
BECU LOC 10K
CONNS(SYNCHRONY) 10K
MY JEWELERS 5K
NEW COAST DIRECT 5K
REGIONS PLATINUM 4K
BBT CASH REWARDS 3.5K
BBT TRAVEL 3.5K
PFU(ELAN FINANCIAL) 2K
CAP1 QS1 1.5K(closed GONE)
DISCOVER IT 2K
KAYS 1K(closed GONE)
NFCU CASH REWARDS 4.5k
CREDIT ONE 500(closed GONE)
OPENSKY 300(closed GONE)
DISCOVER(AU) 38.6K
CITI(AU) 12.5K

INCOME = 207K

Score for Fico are: Oct. 2019 Util 5%
Eq= 689
Trans= 719
Ex= 692
Inquires in last 24mths(Aug19)
Eq= 15
Trans= 12
Ex= 17
Accounts in Last 24mth= 19 6mths= 8(Aug19) 4 accounts have been closed
Car Loan= 1
Installment Loans= 5
CC= 12
4 AU accounts for AAoA since I have so many accounts(lol)
(1)10yrs, (3)8yrs
Message 4 of 7
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Community Leader
Senior Contributor

Re: NFCU SECURED WITH BADDIES ON CREDIT

Being able to app for an unsecured card after three statements does not mean she should. With her scores where they are, follow the advice upthread and continue to garden while working on the derogs. The waiting and work will be worth it in the long run, especially since with your profile, the two of you likely don’t “need” her to try apping for more right now.



Rose Gold NPSL | BCP | Delta Gold | Hilton Surpass | Hilton Honors | IT Cash | IT Chrome | Quicksilver | Target | VS | Home Depot | Lowes | Firestone | Wayfair | Overstock | Kohl’s

5/24, 1/24, 76445/24, who cares #HappyWithAmex





Entering the garden 5/27/2019, staying until 2020
(Lol so much for that grand plan...)
Message 5 of 7
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Community Leader
Super Contributor

Re: NFCU SECURED WITH BADDIES ON CREDIT


@TruSaintsFan wrote:

Her nfcu hasnt reported nor the 2 cards i just recieved that shes au on so i told her to see where her scores sit after that and also with 3 statements of her secured card before she app for an unsecured after 3 statements. We are workng on her baddies and hopefully theyll be taking care of in the next few mths


I suggest DW not applying for any unsecured cards until the baddies are taken care of or she’s going to have a thin credit file with a lot of unnecessary inquiries, which will bring her acores down. 



DEC 2019: EX 816, TU 820, EQ 810
DEC 2018: EX 777, TU 783, EQ 799

|| NFCU CashRewards $30K || AmX Cash Magnet $30K || Discover IT $24.7K || Macy's $20K || NFCU CLOC $15K || NFCU Platinum $12.5K || AmX ED $11.5K || CitiCostco $7K || CitiDC $6.3K ||
Message 6 of 7
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Frequent Contributor

Re: NFCU SECURED WITH BADDIES ON CREDIT

Thanks @creditinspired. We'll continue to work the baddies and hopefully get those off her report in the next few mths

CSP 17.8K
CHASE FU 7k
BECU VISA CARD 13K
BECU LOC 10K
CONNS(SYNCHRONY) 10K
MY JEWELERS 5K
NEW COAST DIRECT 5K
REGIONS PLATINUM 4K
BBT CASH REWARDS 3.5K
BBT TRAVEL 3.5K
PFU(ELAN FINANCIAL) 2K
CAP1 QS1 1.5K(closed GONE)
DISCOVER IT 2K
KAYS 1K(closed GONE)
NFCU CASH REWARDS 4.5k
CREDIT ONE 500(closed GONE)
OPENSKY 300(closed GONE)
DISCOVER(AU) 38.6K
CITI(AU) 12.5K

INCOME = 207K

Score for Fico are: Oct. 2019 Util 5%
Eq= 689
Trans= 719
Ex= 692
Inquires in last 24mths(Aug19)
Eq= 15
Trans= 12
Ex= 17
Accounts in Last 24mth= 19 6mths= 8(Aug19) 4 accounts have been closed
Car Loan= 1
Installment Loans= 5
CC= 12
4 AU accounts for AAoA since I have so many accounts(lol)
(1)10yrs, (3)8yrs
Message 7 of 7
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