New to Navy Fed - UPDATE

[Anonymous]

I'm not sure if this post belongs here or not my apologies.

I just opened an account with navy federal and under "my offers" tab it suggested the secured card. How "legit" are these offers? Are they just there for marketing or are they pretty optimistic? My credit is not great at all; low 594 high 605, so the offer fits my profile. I don't have any unsecured cards at the moment and I'm torn between opening a secure loan and  using the money to increase my secured discover card limit or funding the navy fed secured card if approved. I've just always heard once your in with navy fed it's pretty good, so I'm trying to build a relationship as I'll be looking to refi my car.

Open to any and all suggestions.

[Anonymous]

They’re marketing. 

Honestly if your DTI is low (less than 15%), you might want to take a shot at their unsecured card. We have seen approvals come through for the cashRewards and Platinum at your TU score level and worst case scenario if you got denied you could turn around and app for the secured card. Two HPs is a small price to pay for Navy Federal (I’ve got 5 HPs from them right now which have gotten me $15,200 in unsecured credit since September when I joined) and if you can get an unsecured card with them, it will give you a big jump on your rebuild. 

[Anonymous]

There was a poster a few weeks back with your same scores ( right at those levels) and got approved for an unsecured line, I agree with Saeren, you should go for it. Lets say worst case scenario you are declined, you will get the secured card, and after some time by making payments on time you will graduate to an unsecured line...

Good Luck and let us know what happens!!

[Anonymous]

I haven't forgot about you guys!! I have a couple collections/charge offs I want to handle before applying to hopefully increase my chances. My current DTI is 29% 

I'd say hopefully sometime mid June or early July I'll apply and keep yall in the know.

[Anonymous]

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@Anonymous wrote:

They’re marketing. 

Honestly if your DTI is low (less than 15%), you might want to take a shot at their unsecured card. We have seen approvals come through for the cashRewards and Platinum at your TU score level and worst case scenario if you got denied you could turn around and app for the secured card. Two HPs is a small price to pay for Navy Federal (I’ve got 5 HPs from them right now which have gotten me $15,200 in unsecured credit since September when I joined) and if you can get an unsecured card with them, it will give you a big jump on your rebuild. 

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OMG y'all!!! So I just apped for the cashRewards and was approved for 20k!! My scores a about 22 points are so higher than what my sig says. I'll update later. 

[FinStar]

Thanks for the update @Anonymous and congrats on the approval!

Locking this thread as you have been approved. Feel free to start a new approval thread in the Approvals forum if you would like to do so.