Question Does Anyone know about Navy Credit union?

[rodsren]

I don't have an account, but I wondered. (I heard PedFed waits 2 years before considering you.) I did not burn either of them; I am looking for low interest rates if I need to go into revolving for a month or so. My Dad is an honorably discharged Navy guy, so I think I qualify for an account. Thanks so much!

[shipo]

I opened my PenFed account a year after my discharge, I have heard many folks were able to open accounts at NFCU immediately after a discharge, assuming they didn't burn them. That said, it may be a while before PenFed would allow you to have a credit card, and as for NFCU, they will probably grant you a secured credit card within a month or two of joining.

[rodsren]

Wow. How kind of you to give me this information. I am new on here and really appreciate it! I need to find my father's honorable discharge. I think it's called a D-224 form or something like that. I saw it within the last month, but someone came over and cleaned my apartment, and I am still looking for this paper, among others! At the time I saw this, I thought, gee, I should really scan this one-page form in, but I got distracted. Do you think the secured card would become unsecured in 6 months or so if I was lucky? I already have 3 unsecured cards with very low limits (3K, 1.5K, and 1K), but I guess the goal is to charge something every month and pay it in full, and after a year or two, maybe be able to get back into travel cards. The problem is I burned so many bridges (Chase, Amex, Citi, Barclays-almost all the good travel cards.). Anyways, I appreciate the feedback. Have a great night.

[shipo]

The form you're looking for is commonly referred to as a "DD-214"; I believe on the actual form it is labeled on the lower left as "DD FORM 214".

As for what will happen when you get NFCU's nRewards secured card; most folks seem to graduate within a year to an unsecured card (don't remember which), and once the graduation happens, they are well known to be very generous with credit limits. With this said, I took a rather different approach; I waited until my bankruptcy fell off my reports and then opened up an account, then added a small direct deposit, then a small CD, and after four months, I applied for their More Rewards; I was stunned when my starting limit was $30,000.

[rodsren]

The form you're looking for is commonly referred to as a "DD-214"; I believe on the actual form it is labeled on the lower left as "DD FORM 214".

As for what will happen when you get NFCU's nRewards secured card; most folks seem to graduate within a year to an unsecured card (don't remember which), and once the graduation happens, they are well known to be very generous with credit limits. With this said, I took a rather different approach; I waited until my bankruptcy fell off my reports and then opened up an account, then added a small direct deposit, then a small CD, and after four months, I applied for their More Rewards; I was stunned when my starting limit was $30,000.

Thank you for the information. I just saw it the other day; I know it's here. I said to myself I should scan it in, but I didn't. You are very kind to be sharing your experience, thank you very much!

[rodsren]

Wow. How kind of you to give me this information. I am new on here and really appreciate it! I need to find my father's honorable discharge. I think it's called a D-224 form or something like that. I saw it within the last month, but someone came over and cleaned my apartment, and I am still looking for this paper, among others! At the time I saw this, I thought, gee, I should really scan this one-page form in, but I got distracted. Do you think the secured card would become unsecured in 6 months or so if I was lucky? I already have 3 unsecured cards with very low limits (3K, 1.5K, and 1K), but I guess the goal is to charge something every month and pay it in full, and after a year or two, maybe be able to get back into travel cards. The problem is I burned so many bridges (Chase, Amex, Citi, Barclays-almost all the good travel cards.). Anyways, I appreciate the feedback. Have a great night.

Update on NFCU. After they said no online, I did indeed open an account with the health of a Miami beach. A couple of months later (i.e., last Thursday), I opened an SSL for 60 months and $3,001. Now I need to pay that down as recommended and use the money released (that secures the load) to open a 5K secured credit card.

I spoke to a guy at the main call center. He said that even a secured card, unlike the SSL, requires one hard pull of credit....errr. However, when I mentioned about a year to get it uns=ecured, he said they started doing soft pulls after 3 months monthly to see if it can be converted to an unsecured cash rewards card (I think that is the card he said you graduate to.). I read on here that someone through the 5K NFCU card was the key with a relatively high limit, in terms of 8 months post-discharge, to get all the rest of the cards. He also said the soft pulls allow them to analyze if you can get a credit line increase from 5K--> unknown without having to put down more money. SO that is my plan. Still hovering in the 640's FICO 8. I got a card preapproved through the Community bank pre-approval M/C Saks 5th Avenue for 2,700 today, so I bit. I have 2 capital one, one venture one, 3K--> just increased to 3.3K (wow) and a 0.3K Savor, which I am tempted to close as I do not need another cash back card. I wold rather get a Venture or possibly at some point a Venture X, which gives 2.0 miles/$ rather than $1.25 miles/dollar. So that is my 6 month plan. interestingly, the Collenity Saks didn't pull Experian as I have that locked, and gave me a warning I need to have the credit bureaus unlocked, but since everyone seems to check Experian, I kept it locked and got a decent credit limit w/o having them use it. Might be a strategy for some folks, as I have twice as many inquiries on Experian than the other 2.

[rodsren]

COMNITY BANK SAKS 5th Avenue WE M/C: THEY DIDN'T DO A HARD PULL AND APPROVED A WORLD ELITE MASTER CARD with a 2,700 limit. Stunned, they didn't do a hard pull. As for NFCU, SSL for $3,001 was taken out and is now paid down with the balance from the load (not in full). As for NFCU 5,000 secured card, they do a hard pull once upon opening (not surprising), then on their website, it says, "we analyze after 3 months for an increased C/L w/o putting more secured money down. They also say they start doing monthly evaluations to make it unsecured after 6 months (if/when successful, it's a cash reward.). I'll let people know, but from what I hear, that is a great strategy. Start a CC relationship with NFCU (the guy in the branch didn't even ask for the DD_214). So it is possible to have a relationship with them if you go to the branch (possibly the appointment helped) and the service was very good. So the gardening continues. I got SO MUCH GREAT information on this website. THANKS TO ALL!