NFCU Secured nRewards Card was Unsecured

[miakayuuki]

Greetings All,

 

Well, I had a nice suprise from NFCU the other day. They automaticly unsecured my nReweards Secured Visa after exactly 1 year.

 

I opened this account with a $2000 deposit, at 6 months, I upped it to $5000, and at 9 months, I upped it to $10,000. When they unsecured it they left the full $10,000 credit line in tact. To add to it I called and asked if there was any way I could convert it to the Flagship Rewards Visa Signature card as I travel internationally a great deal and it was done right on the spot with nothing but a soft pull (verified) to determine the interest rate, in my case it stayed at the 17.9% I had on my nRewards card, but that really does not matter to me as I pay it in full every month. I did inquire if a limit increase was possible but was told that would require a hard pull so I declined. The represenative seemed very aware of the difference between soft and hard pulls and did an excellent job of describing each one correctly.

 

This is now officially my hightest limit card by a long shot, and has made me a true beliver in NFCU.

 

[JPerry115]

Do they hard pull to add to the secured limit?

[miakayuuki]

Do they hard pull to add to the secured limit?

Not quite sure I follow your question. They unsecured my card and released the 10k hold in my savings automaticly. It was only after that happend thatn I called them about converting to a different card type. At no point did I have a secured card with a limit higher than the security.

[joemalebranche]

ok question, when you added more funds to your secured card, did it reflect on your CR as an increase also, or did the limit stay the same as the original amount you used?? Also who does NFCU use for pulls??

 

thanks

joe

[miakayuuki]

ok question, when you added more funds to your secured card, did it reflect on your CR as an increase also, or did the limit stay the same as the original amount you used?? Also who does NFCU use for pulls??

 

thanks

joe

 

When I wanted to add more funds to my secured card I would simply move the money into my share savings account and then send them a secure message from my online account asking them to increase my secured limit by x amount which was in my share savings account. They would normally have this complete within 24 hours. Usually about 30-45 days after I increased the limit it would then be reflected on my credit report on all 3 of the major bureaus, and it never reported as a secured card.

 

The only time I had a hard pull related to this account was when I first opened it, which was on Equifax. One was never done during any requested increase through additional funding, nor during the automatic unsecuring process, nor for the product change.

[joemalebranche]

 

ok question, when you added more funds to your secured card, did it reflect on your CR as an increase also, or did the limit stay the same as the original amount you used?? Also who does NFCU use for pulls??

 

thanks

joe

 

When I wanted to add more funds to my secured card I would simply move the money into my share savings account and then send them a secure message from my online account asking them to increase my secured limit by x amount which was in my share savings account. They would normally have this complete within 24 hours. Usually about 30-45 days after I increased the limit it would then be reflected on my credit report on all 3 of the major bureaus, and it never reported as a secured card.

 

The only time I had a hard pull related to this account was when I first opened it, which was on Equifax. One was never done during any requested increase through additional funding, nor during the automatic unsecuring process, nor for the product change.

thanks for the info... some secured cards I have looked at will let you add funds but they don't increase on your CR's... I haven't really done anything with NFCU yet but I am already a very happy customer..

[JPerry115]

I was asking did they have to pull your credit again to add funds to the card like most banks or credit unions do.

[miakayuuki]

I was asking did they have to pull your credit again to add funds to the card like most banks or credit unions do.

 

No, the only time I recieved a credit pull was when I initially opened the account. Each addition was just a simple request to secure additional funds in my account.

[JPerry115]

Got it!