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Hello! I hope I'm posting this in the correct section... Like most of you, I'm in the process of rebuilding my credit (scores currently range from 560-580 for all 3). Two quick questions: Does anyone know if there is a minimum score requirement for NFCU's secured credit card? I have been denied for Capital One and Discover's secured cards -- I don't want to keep racking up inquiries if there's a good chance NFCU will deny me as well... I do not have any open credit cards at the moment. Also, my SO has decent credit (around 700), and I'm wondering if I were to become an AU on one (or a couple) of his cards, could that potentially damage his score since mine is so low right now? Does my bad history reflect on him at all? Hope I'm making sense... Thanks for any input!
I'm not for sure if there is a known minimum score but I can share that I was approved for a nRewards secured card with a TransUnion FICO8 score of 571 back in May. I'm not for sure what my FICO 9 score was at that time.
My wife had no Fico when she was approved for hers. All she has is a paid off car loan from 2 years ago.
I must have been in the 480 range in Sept or 16 when I got mine for $1k (that was my first NFCU Fico 9 score the month after). Wife was in the same exact boat with CO's and Collections from march / april 2014. A year later, I increased mine to 5k with a hard pull... still secured to this day. Scores in the 575 range and on the upswing. Discover secured was approved for 1k with a 557 EX Fico 08 last month. Though the nRewards Secured requires a hard pull, I can not recall reading about a denial but that does not mean anything of course.
It's funny how perhaps the best secured card might be one of the easiest to obtain. You must treat it well though since I hear NFCU does not let you back in after a burning. I also have a SSL with NFCU and patiently await a very long term relationship with them. Unsecured NFCU products are less than a year away for me I imagine.
Your SO's AU account will benefit you greatly but nothing from your report will attach to him.
I got a cash rewards with a 515. Should have got the secured. Would have graduated by now and gotten an increase. I don't want to waste a HP to try requesting a CLI next month as I already got denied once after 3 months.
@Brian_Earl_Spilner wrote:I got a cash rewards with a 515. Should have got the secured. Would have graduated by now and gotten an increase. I don't want to waste a HP to try requesting a CLI next month as I already got denied once after 3 months.
What was your CL? A 515 Fico 9? I imagine you could still get the secured as well. The SSL deal is also available to you. That gave me a 30 point increase in scores. Both of thoise might help you long term with them??? Who knows.
I suspect that with my 5k secured nRewards card, I may get an unsecured card before they graduate my 5k line. Fico's are up 100 points but may see low 600's in a few months if things go as planned. In my mind, all is well going forward with them as long as I plan well, don't go for any subprime cards and PIF etc. It will all pay off down the road.
Thanks for the responses -- I will apply for said card within the next week here, when I have a the funds for the deposit. I will also bug my SO about allowing me to be an AU, since it won't do anything to his score. AWESOME. I'm sure I will be back in the very near future with more questions... Thanks!