Navy FCU Secured and CLI questions.

Anonymous · ‎08-24-2020

Hi,

I just joined Navy today and was approved for their secured card. This is great considering I'm 4 months BK7 discharged. For those who have had their cards graduate with Navy, what was your credit limit they provided upon graduation? Also, did you apply for a second card after graduation? I wonder what the chances are of getting a second later on. There is so much information on here, but it seems like results vary. I'm in no rush, but would like to know ahead when it's time.

Thank you, All!

Anonymous · ‎08-24-2020

Welcome to the Navy Family! And congrats on your new nRewards!!

nRewards typically graduate between 6-8 months from what I have seen on here, they can take longer, depending on your current profile. They graduate to a cashRewards card with a 2,000 limit.You can apply for a second card 91days and 3 statements from now! If you feel your profile supports an unsecured card.

Considering your BKdischarge, I personally would wait until your graduation for a second card. I got my second card at the 91/3 mark, and they only approved me for $500! But there are plenty of data points suggesting that 6+ months of good history with Navy makes your profile a lot stronger for their cards.

Good luck with your journey! There are a lot of knowledgeable people in these threads, hopefully someone with more BK specific info will add to this thread!

You should definitely check out the big navy thread over in applications! There is a ton of info here: https://ficoforums.myfico.com/t5/Credit-Card-Applications/Navy-Federal-Thread-for-CLI-and-Additional...

Anonymous · ‎08-24-2020

@Anonymous Thank you for that info. I wasn't aware of the 91/3. But Like you mentioned, I will most likely wait until it graduates before applying for a second card. Thank you for taking your time out for this, much appreciated! The 6 month route may do me well. No rush, I'm just going to take the time to work on the relationship and use the secured card.

Anonymous · ‎08-26-2020

Hey! Awesome job and congrats! My nrewards secured card just graduated last month at 7 months. Went from $200 secured to a $2,000 cash rewards which seems to be the standard for 99% of people. As the other person said, you can apply for a second card 91 days/3 statements after that, same with a CLI I believe. All CLI are soft pulls from my experience.

Your second card should also be a high starting limit, as others have usually experienced! Good luck, the wait was worth it haha! It's usually between 5-7 months until it graduates.