NFCU Credit Card

[tada]

I find that I am able to join NFCU, but I some questions for you who have successfully been approved for a NFCU credit card. We were discharged 3/1/11 and were approved for a CapOne card. How much money do I have to deposit in NFCU to apply, and is there a waiting period before applying? Thanks.

[nc73]

5 bucks for a share account. I don't think there is a waiting period to apply. Although you've just been discharged I doubt you will get anything from them. Most say to wait a year or get your scores to mid 600. If you read some threads on here it will give you some examples.

[Amy26]

I'm not sure what NFCU's rules are for waiting period after discharge. Could be they would approve you now or could be they would make you wait 3-6 months. If you are eligible for membership, I would join and build your relationship even if you are not going to get a credit card right away. Best bet would be to join up and then just call and ask someone in the loan department what the minimum time after discharge they would like to see.

[egeitz]

i think its one year post bk. you could get an secured cc it can go unsecured in about 6 months

[Poppie]

About 1 year post bankruptcy discharge, I applied. I was turned down for everything but a secured card. So I took the secured card and was required to put at least $500 in a savings account for it. I asked about 6 months later if I could change to a non-secured card and they said no and to wait until I had had the secured card for one year. I just passed the one year mark and have applied for an unsecured card and am waiting to hear back.

[SleepWellNow]

I haven't opened any credit cards since our discharge (Nov. 2009) and decided it was time to do so to try and get my FICO scores up. My husband and I went into NFCU and each opened up a savings account with $20 in each account (we are Federal Contractors). Then I asked when I could apply for a credit card. She said "How about right now?" We told her we would each like to have a card in our own name to rebuild our credit. My husband was immediately approved for $7,500 at 10.74% and no annual fee. I was approved for $20,000 with the same terms. Needless to say, we were shocked. We have no reason to use this line of credit but it sure is comforting to know it's there in case of an emergency. I plan to use it once a month and then pay the small balance off just to keep it active. By the way, we never even mentioned our bankruptcy and neither did she. Only after she ran our credit did I tell her we had a difficult time a couple of years ago but we are now on track and rebuilding our lives. She was very encouraging and more than happy to help us in our efforts. I'm so glad I read on this forum that NFCU was BK friendly. I would of never thought to go to them.