@Andy77 wrote:
So my ch 7 discharge will be in a few months and I wanted to app for the NFCU Secured Visa.
I was thinking about depositing the max, 5k, but I have read that if you put this high of an amount they hold the card as being secured longer...
Is this true ?
Should I start with a lower limit with the hope it unsecrues faster, the lowest I want to go is 3k ?
Thank you!
I think you'll find that SL doesn't impact graduation time, but instead may impact your limit when it releases.
Meaning if you do $500 when it graduates you might get 4x CLI for a $2k limit, as opposed to doing max $5k and graduating with no CLI.
Let that mindset have no bearing on your initial deposit, but instead think about how much of a limit you'll need to manage the card properly, if it's your only one, or one of a mix, etc.