@vonmannstein wrote:
If you're curious here's the message I got back from Navy FCU:
Under our secured program, you can be issued an nRewards Visa or Master Card. The secured card is reported to the credit agencies like a regular credit card account and you can reapply after one year for an unsecured account. In order to process the secured card, you need to deposit sufficient funds into your Navy Federal savings account (the funds secured would be equal to the credit limit). These funds will continue to earn dividends while on hold. The minimum credit limit is $500.00. Once the deposit is made, please contact us any time toll-free at 1-888-842-NFCU (6328).
Once your account has been opened for a period of at least 12 months, you can request to have it unsecured by submitting a new application. Should you have any further questions, please let us know.
Now I am confused.
That's basically what they told me 11 months ago when I applied for the card and I told them if it never unsecures it's ok with me. Then I logged into the NFCU online banking a week or two ago and saw the word "secured" disappeared from the credit card description, the limit was doubled and my savings account available balance increased. I figured they screwed up something and called and they told me "You'll get a letter soon."
I am absolutely positive I never applied to have it unsecured and there is no hard pull on my CRs
Maybe it has to do with length of membership or some other factor.
