Navy Federal SECURED card Frustration

[Anonymous]

Hey All! I am very very new to the forum. I have been in the process of rebuilding my credit after stupid teens and 20's. I got an account with Navy Fed a year and some change ago and opened a secured account with them. My secured limit is $300. I DON'T CARE FOR THE INCREASE, I AM JUST READY TO GRADUATE! I've had my card over a year and I have not missed a payment and I keep my UTI below 10%. I'm not sure which bureau they use but my current scores are:

Experian: 612

Equifax: 630

TransUnion: 617

Not the best I know but definitely not the worse. Just looking for some tips as to what could help me greater ym chances for a graduation?

[FinStar]

Are those FICO scores?  If so, FICO8 or FICO9?

What else is holding your scores down?  Are there any recent or past derogs, collections, etc?  How about your overall utilization? (besides the NFCU card).  Keep in mind they're not just evaluating the history and performance of your secured account, but also your overall profile.

[Anonymous]

These are Fico 9 Sorry.

I have other positive things:

1. capital 1 auto loan-no late payments $19,356
2. comenity victoria secret-$200
3. us bank-$300
4. citi-$200
5. student loans-$12381

I just completed the self lender program after a year.

I have 11 inquiries(high I know) across all 3 bureaus. 

I have 2 collection accounts that should be coming off in by the end of the month thanks for PFD

(I will figure out how to put that infor in the bottom like some other posters)

[CH-7-Mission-Accomplished]

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@Anonymous wrote:

Hey All! I am very very new to the forum. I have been in the process of rebuilding my credit after stupid teens and 20's. I got an account with Navy Fed a year and some change ago and opened a secured account with them. My secured limit is $300. I DON'T CARE FOR THE INCREASE, I AM JUST READY TO GRADUATE! I've had my card over a year and I have not missed a payment and I keep my UTI below 10%. I'm not sure which bureau they use but my current scores are:

Experian: 612

Equifax: 630

TransUnion: 617

Not the best I know but definitely not the worse. Just looking for some tips as to what could help me greater ym chances for a graduation?

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Have you sent them a secure message and asked them to graduate it?   I don't know if this is something they will/won't do but it can't hurt to ask.   Otherwise once those collections are deleted, and assuming you don't have recent lates on those other accounts, your score should jump a lot.   You have very low scores for somebody with multiple credit cards unless there are recent lates or high utilization.   You also probably took a hit when your self-lender loan paid off if you have no other installment loans.   Lastly, ideal overall utilization is 1% and under 10% on any given card (so long as overall is 1%).

[MrBEW]

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@Anonymous wrote:

These are Fico 9 Sorry.

I have other positive things:

1. capital 1 auto loan-no late payments $19,356
2. comenity victoria secret-$200
3. us bank-$300
4. citi-$200
5. student loans-$12381

I just completed the self lender program after a year.

I have 11 inquiries(high I know) across all 3 bureaus. 

I have 2 collection accounts that should be coming off in by the end of the month thanks for PFD

(I will figure out how to put that infor in the bottom like some other posters)

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I've read a few posts that have had the same experience as yourself. Some were able to remedy the problem by calling Navy to find out status. In some cases, their card graduated the next day or somewhere inbetween their next statement. Can't hurt to try....

[Anonymous]

My score did tank a bit when I finished self I haven't had a late payment in any of these open accounts and all uti is at 15% for those other I will pay them to 7% right before the statement reports. My last late payment was quite awhile ago. A little over a year. 

[EAJuggalo]

Navy Fed uses TU FICO 9 for all of their decisions I am aware of.

A little over a year is not "quite awhile ago" in the eyes of Navy.

Rebuilding is not a sprint, it is an ultra marathon.  When Navy says you may be eligible for graduation in 6 months, that is usually for those that have no file or a very thin file.

How old are the other accounts?  What is your AAoA?  If I were Navy, I might be a little worried about seeing a 20k auto loan, 12k in student loans and three very low limit credit cards is AAoA is short.

It would probably be worth calling Navy during business hours to ask what is holding you back.  Do you do all of your banking with Navy?

[Shaw83]

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@Anonymous wrote:

Hey All! I am very very new to the forum. I have been in the process of rebuilding my credit after stupid teens and 20's. I got an account with Navy Fed a year and some change ago and opened a secured account with them. My secured limit is $300. I DON'T CARE FOR THE INCREASE, I AM JUST READY TO GRADUATE! I've had my card over a year and I have not missed a payment and I keep my UTI below 10%. I'm not sure which bureau they use but my current scores are:

Experian: 612

Equifax: 630

TransUnion: 617

Not the best I know but definitely not the worse. Just looking for some tips as to what could help me greater ym chances for a graduation?

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I've had mine for about 9 months and some have had there's for 2 years and no graduation. I applied for the cash rewards and got approved. Some people apply for other cards with nfcu because their card hasn't graduated yet. Your dti doesn't seem too high. 

[Anonymous]

I should have updated! I called and they said the graduation is automated not something they can manually do HOWEVER, I woke up the other day to my security deposit in my savings and my limit 3,000 does this mean I graduated? I'm assuming so? And no all of my banking is not with navy federal it's split between navy fed and capital one. But majority of my deposit comes through navy fed to help myself build rapport. For my other cards they are all secured and fairly new (6months) my car loan is also fairly new but it's paid down drastically it was originally 26000 and my student loans are what I would considered almost paid off. I know the balances are still "high" but do they look at the history of the accounts on my report or only at what's current? 

[Papa_Bear]

Congratulations!