Nave Credit Card: What It Was and Why It Matters Now
Nave was a credit card issued by Elevate Credit, Inc., a subprime lender that operated from roughly 2015 to 2020. If you hold an old Nave card or see it on your credit report, you need to understand what it means for your credit and what options you have now.
Nave cards were designed for people with limited credit history or lower credit scores. The card came with a security deposit (usually $200 to $2,500) that served as collateral. Unlike a prepaid card, a Nave card was a real credit account — your payments reported to the three major credit bureaus, which meant responsible use could help build your credit score.
Elevate Credit stopped issuing new Nave cards around 2020 and has since wound down the program. If you still have an active Nave account, it may have been transferred to another servicer or closed outright. Many cardholders are now dealing with old accounts on their credit reports or trying to figure out what happened to their security deposits.
Key Takeaways
- Nave was a secured credit card for people building credit, backed by a cash deposit that Elevate Credit has largely stopped issuing.
- Your Nave account may have been transferred to a new servicer, closed by the issuer, or converted to a different product — check your statements or call the number on your card.
- If your account was closed, your security deposit should be returned within 30 to 60 days, though delays are common and you may need to follow up in writing.
- Old Nave accounts that report on-time payments will help your credit score; accounts with missed payments or charge-offs will hurt it for seven years from the date of first delinquency.
- If you no longer have access to your account online or by phone, contact Elevate Credit's customer service or check your credit report to see the current status and servicer.
What Happened to Nave and Your Account
Elevate Credit began phasing out Nave around 2019 and 2020 as part of a broader shift in their business strategy. The company decided to focus on other lending products and stopped accepting new Nave cardholders. Existing accounts were handled in different ways depending on the timing and the account holder's payment history.
Some Nave accounts were transferred to a third-party servicer who took over billing and customer service. Others were closed outright by Elevate. A small number of accounts may have been converted to a different Elevate product. The experience varied widely, and many cardholders were not notified clearly about what was happening to their accounts.
To find out what happened to your specific Nave account, start by checking any statements or emails you received from Elevate or a new servicer. If you still have the card, call the number on the back. If the account is closed or the number no longer works, you can contact Elevate Credit directly through their main customer service line or check your credit report — the servicer's name and contact information should appear there.
Getting Your Security Deposit Back
When Nave accounts were closed, cardholders were supposed to receive their security deposits back. The deposit was your money held as collateral, not a fee. Federal law and most state laws require that deposits be returned within 30 to 60 days of account closure, though the actual timeline depends on how the account was closed and whether the issuer had any outstanding balance to cover.
If your account closed and you never received your deposit, start by reviewing your bank or credit card statements from the closure date forward. Some deposits are returned as a credit to the original payment method, which may show up as a refund rather than a separate check. If you do not see it within 60 days of closure, send a written request to Elevate Credit or the current servicer (if your account was transferred) asking for the return of your deposit. Include your account number, the approximate closure date, and the deposit amount.
Keep copies of everything you send. If you do not receive a response within 30 days, you can file a complaint with the Consumer Financial Protection Bureau (CFPB) at consumerfinance.gov. The CFPB handles disputes over credit card deposits and can pressure the issuer to respond. You can also contact your state's attorney general's office or your state banking regulator if the issuer continues to ignore your request.
How Old Nave Accounts Affect Your Credit Score
An old Nave account on your credit report can help or hurt your score depending on how you used it. If you made on-time payments throughout the account's life, the account history shows lenders that you can manage credit responsibly. That positive history stays on your report for up to 10 years after the account closes, even after it is no longer active.
If you missed payments or the account went to charge-off (meaning Elevate wrote off the debt as uncollectible), that negative mark will stay on your report for seven years from the date of first delinquency. A charge-off is serious — it signals to future lenders that you did not repay this debt, and it will lower your credit score significantly. Even after seven years, the account may still appear on your report, but it will no longer affect your score.
You can see exactly what your Nave account shows by checking your credit report for free once per year at annualcreditreport.com. Look for the account under Elevate Credit or the servicer's name. The report will show whether the account is open or closed, the payment history, and any negative marks. If you see errors — like a payment marked late when you paid on time — you can dispute it directly with the credit bureau.
Disputing Errors on Your Nave Account
Credit reports are not always accurate. If your Nave account shows a late payment you do not believe you made, a balance that should have been paid off, or a charge-off that happened without notice, you have the right to dispute it.
Start by contacting the credit bureau that is reporting the error. You can dispute online at Equifax.com, Experian.com, or TransUnion.com, or send a letter by mail. Include your account number, a description of the error, and any supporting documents (like bank statements showing you paid on time). The bureau has 30 days to investigate and respond. If the error is confirmed, it will be removed or corrected.
You can also dispute directly with Elevate Credit or the servicer. Send a written dispute letter to their address (found on your credit report or your last statement) with the same information. Keep a copy for your records. If the company does not respond within 30 days or does not correct the error, you can escalate to the CFPB.
Rebuilding Credit After Nave
If your Nave account had problems or is now closed, you may be looking to rebuild your credit. The most effective way is to open a new secured credit card with a different issuer, use it for small purchases, and pay the full balance every month. This shows current lenders that you are managing credit responsibly right now, which matters more than old negative marks.
Other strategies include becoming an authorized user on someone else's credit card (if they have good payment history), paying down any other debts you owe, and making sure all your current bills are paid on time. Avoid explore for multiple new credit accounts in a short period — each process creates a hard inquiry that temporarily lowers your score.
If you have a charge-off or unpaid balance from your Nave account, consider whether settling it makes sense. A settlement (paying less than you owe) will still show on your report, but it may be worth doing if the account is being reported as unpaid. Negotiate in writing before you pay anything, and get the settlement agreement in writing before sending money.
Finding Your Nave Account Information
If you have lost track of your Nave account or do not remember which servicer it was transferred to, there are several ways to track it down. Start with your credit report — pull it free at annualcreditreport.com and search for any accounts under Elevate Credit's name or any servicer you do not recognize. The report will show the current status and contact information.
If the account is not on your credit report, it may have been closed and removed (which happens after seven years of inactivity). You can also contact Elevate Credit directly through their customer service line or website to ask about your account status. Have your Social Security number and the approximate date you opened the card ready.
If you believe your account was transferred but you cannot find it, ask Elevate for the name and contact information of the servicer. They are required to provide this information. Once you have the servicer's name, you can contact them directly to access your account or request information about your deposit.
Frequently Asked Questions
Can I still use my Nave card if I have one?
It depends on whether your account is still active. If your card still works and you can log into your account online or by phone, you can use it. However, Elevate is no longer issuing new Nave cards, and many existing accounts have been closed. Call the number on your card or check your online account to confirm the status.
What if I owe money on my Nave account?
If your account has an unpaid balance, you are still responsible for it even if the account is closed. The debt does not go away. Contact the servicer or Elevate to ask about payment options or a settlement. If the account is in collections, you may be contacted by a debt collector — do not ignore these calls, as they can lead to a lawsuit.
How long does a Nave charge-off stay on my credit report?
A charge-off stays on your report for seven years from the date of first delinquency (the date you first missed a payment). After seven years, it will no longer affect your credit score, though it may still appear on your report. You can request removal after seven years, but the credit bureau is not required to remove it if it is accurate.
Can I get my security deposit back if my account was charged off?
If your account was charged off, Elevate may have kept your deposit to cover part of the unpaid balance. However, if the deposit exceeded the balance owed, you should still receive the difference. Send a written request asking for an accounting of how your deposit was used and whether any amount is owed back to you.
What should I do if Elevate Credit will not return my deposit?
Send a written complaint to the Consumer Financial Protection Bureau at consumerfinance.gov. Include your account number, the deposit amount, the closure date, and a description of your attempts to recover it. The CFPB will forward your complaint to Elevate, which must respond within 15 days. You can also file a complaint with your state's attorney general or banking regulator.