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Feeling Stuck but yet accomplished :-/ Discover or Navy Federal

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Established Member

Feeling Stuck but yet accomplished :-/ Discover or Navy Federal

So I have been on this repair journey for about a year now! And it has been along journey I do not feel like I accomplished much or even near where I thought I would be by now! However!!! After all this time I was able to get a preapproval for a Discover Card! I could of cried after getting the no offers available screen for so long! Lol

But I’m wondering now should I do the discover secured or try for the navy federal secure or cash reward card!

Experian: 586
Transunion: 572 (Have not been updated since 9/21)
Equifax: 553 (Have not been updated since 9/21)

Scores are from Experian website
Message 1 of 24
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Valued Contributor

Re: Feeling Stuck but yet accomplished :-/ Discover or Navy Federal

NFCU and Discovery are both great financial institutions to work with. Personally, I would go with a NFCU shared secured CC.

















Your FICO credit scores are not just numbers, it’s a skill.

Message 2 of 24
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Re: Feeling Stuck but yet accomplished :-/ Discover or Navy Federal

May I asked what would make you choose navy federal?
Message 3 of 24
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Re: Feeling Stuck but yet accomplished :-/ Discover or Navy Federal

Once your in with NFCU, and you treat them right, they will have additional credit opportunites to help you acheive your rebuild goals.  I began my rebuild in July of 2017 after a BK7.  I started with a NFCU secured card @$500 that graduated 11 months later to an unsecured card with a CL of $2000.  The same month my secured card graduated I also recieved an NFCU CashRewards card with a SL of $1000.  In addition I also got a CLOC for $4500 through NFCU.

 

3 months after getting the NFCU secured card I also applied for a Disco IT card and was approved for a SL of $1600.  My disco card didn't treat me well in regards to cli's, but I finally got a cli this month for $900.  However, I felt this card was still stuck, so I applied for a second Disco IT card yesterday and was approved for a SL of $12,000.  

 

I would suggest to start with a NFCU card first, app for the CashRewards card and if you are denied they typically offer you the secured card.  Give it some use and PIF every month before the statement cuts.  Also app for a CLOC through NFCU, ask for the max of $15,000 and they will counter with a different offer if your not approved for the full amount.  Once you begin establishing your relationship with NFCU, and you treat them right, they will show you much love.

Message 4 of 24
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Re: Feeling Stuck but yet accomplished :-/ Discover or Navy Federal

Thank You!! Can you tell me how to go about getting a CLOC is it over the phone, branch or online?
Message 5 of 24
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Established Member

Re: Feeling Stuck but yet accomplished :-/ Discover or Navy Federal

Just attempted the CLOC for Navy Federal and was denied :-(
Message 6 of 24
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Re: Feeling Stuck but yet accomplished :-/ Discover or Navy Federal


@Brothers wrote:

@Once your in with NFCU, and you treat them right, they will have additional credit opportunites to help you acheive your rebuild goals.  I began my rebuild in July of 2017 after a BK7.  I started with a NFCU secured card @$500 that graduated 11 months later to an unsecured card with a CL of $2000.  The same month my secured card graduated I also recieved an NFCU CashRewards card with a SL of $1000.  In addition I also got a CLOC for $4500 through NFCU.

 

3 months after getting the NFCU secured card I also applied for a Disco IT card and was approved for a SL of $1600.  My disco card didn't treat me well in regards to cli's, but I finally got a cli this month for $900.  However, I felt this card was still stuck, so I applied for a second Disco IT card yesterday and was approved for a SL of $12,000.  

 

I would suggest to start with a NFCU card first, app for the CashRewards card and if you are denied they typically offer you the secured card.  Give it some use and PIF every month before the statement cuts.  Also app for a CLOC through NFCU, ask for the max of $15,000 and they will counter with a different offer if your not approved for the full amount.  Once you begin establishing your relationship with NFCU, and you treat them right, they will show you much love.


How long did you wait between applying for your Disco cards?

I think I've found the sacred map that may lead me to this garden everyone keeps talking about.



Officially collection free as of 3/19/19!!
STARTING SCORES: 377 (11/2013) & 580 (3/2018)
Message 7 of 24
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Re: Feeling Stuck but yet accomplished :-/ Discover or Navy Federal

Feeling Stuck but yet accomplished :-/ Discover or Navy Federal
Just attempted the CLOC for Navy Federal and was denied :-(
 
What does your credit file look like??  Do you have any baddies, have you filed BK??
Message 8 of 24
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Re: Feeling Stuck but yet accomplished :-/ Discover or Navy Federal


@Soul387 wrote:
So I have been on this repair journey for about a year now! And it has been along journey I do not feel like I accomplished much or even near where I thought I would be by now! However!!! After all this time I was able to get a preapproval for a Discover Card! I could of cried after getting the no offers available screen for so long! Lol

But I’m wondering now should I do the discover secured or try for the navy federal secure or cash reward card!

Experian: 586
Transunion: 572 (Have not been updated since 9/21)
Equifax: 553 (Have not been updated since 9/21)

Scores are from Experian website

Maybe starting off with a secured card would be a better idea. I started with my Wells Fargo secured credit card (would NOT recommend Wells Fargo btw) and it helped my scores out quite a bit. Since your scores are in the 500's, it's going to be really hard to get approved for anything but a secured card. I've read a ton about Discover on this forum and how they will graduate your secured card after about 7+ months of responsible use (not going over your limit, paying on time, PIF).

 

You said you were pre-approved for Discover, so I think you should start there. Building credit takes a lot of time and patience. I started in the 580’s and my scores are ALMOST to 700. It’s taken me all year, but I’ve finally learned, thanks to this forum, how to use my cards responsibly. I carried such a high balance on my Wells Fargo secured card and didn’t realize that’s why they wouldn’t graduate it. I’ve had it since March 2017 and I just got a letter a few weeks ago saying they were going to graduate it, probably because I paid it down significantly lol. I’ve since been approved for a new auto loan, some PenFed cards, AMEX, etc. as you can see in my signature.

 

You’ll get there, I promise! Just keep reading this forum and asking for advice. We all have to start somewhere and I think starting with Disco, or even Capital One is a good idea. Capital One has the credit steps and will give you an increase after 6 months of paying on time. They have the pre-approval link on their website if you want to check it out. They also have a secured card option.

I think I've found the sacred map that may lead me to this garden everyone keeps talking about.



Officially collection free as of 3/19/19!!
STARTING SCORES: 377 (11/2013) & 580 (3/2018)
Message 9 of 24
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Valued Member

Re: Feeling Stuck but yet accomplished :-/ Discover or Navy Federal

I waited a year and 3 days to apply for my second Disco IT card.  I went to the pre-qual page, filled out my info and got an offer for 0% for 14 months and 14.??% interest IT card.  I applied, had to call and verify my info, and BAAMM, guy comes back and says "Congratulations, you have been approved for a Discover IT card with a credit limit of $12,000".  I about crapped my pants, as I struggled the whole year with my first one just to get a CLI.  My wife and I filed BK at the same time, and both got our first Disco cards at the same time.  I went home and filled out her info into the Pre-Qual site and the same offer appeared, 10 minutes later she was also a new holder of a $12,000 Disco card.  Now we both get to enjoy 5% cash back for another year, and becuase we will make each other authoirzed users, we just padded our utilization by $24,000.  Not a bad day I say....

Message 10 of 24
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