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Navy Federal & Secured Card questions

povertybro
Contributor

Navy Federal & Secured Card questions

I have a credit one card that I want to pay off, it is $300. My income tax came in and I want to get a secured card through navy federal for $300. My plan is to pay off the credit one with that, let c1 report with a zero balance for a year then close c1. Sound good?

 

 is it ok if I don't pay the entire balance off the first month with navy federal?  My last question is, I was looking into the secured shared loans. I have a auto loan out that I am making payments on, would it be wise to do a secured shared loan as well. I plan on getting a $3000 loan and knocking that down to $2800 with first payment. 

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AverageJoesCredit
Mega Contributor

Re: Navy Federal & Secured Card questions

Its ok to carry balances with Navy so long as you make your payments. Try and get in the routine of paying in full though. It will be helpful in the futureSmiley Happy

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