Approved for NFCU GoRewards- Mistake?

[Anonymous]

So before I applied for the GoRewards, I was debating on the CashRewards, but did not pick the CashRewards card because I already have a PenFed Power Cash Rewards card. Lately been noticing here that no one really applies for the GoRewards but instead the CashRewards. Did I make a mistake in choosing a card? 

[Anonymous]

Welcome to myFICO.

If the GoRewards is something that meets your needs, but all means keep that and don't worry about looking to change it to the CashRewards.  Stick with what best serves you. There are plenty of things you'll see here for approvals that others are going after that may not be something for you. No need in chasing a card you will not actually need. You'll end up not using it and wanting to close it instead of having something to grow with you over time

[happypill]

I have the GoRewards and it serves its purpose.  It does offer 3% on dining which is pretty good.

The NFCU Cash Rewards, on the other hand, is just your standard 1.5% card.  Plenty of cards just like that are around, and plenty of 2% cards that are better (like your Penfed card).

Actually neither card is really that noteworthy in terms of rewards.  The main reason you should have gone with the Cash Rewards is that it currently has a $200 sign-on bonus (that rotates between their cards).  I think NFCU allows you to PC easily later on, so getting the sign-on first makes sense, then converting to whatever you want.

It might not be too late,  you can try to ask them to convert it to the Cash Rewards and offer the bonus since your account is new.

[rmduhon]

We have a GoRewards card. With normal usage in 3 months we had enough points for $300 cash. It's my gas card when Discover doesn't have gas as a quarterly offer. And I go through 3 tanks of gas a week.

[SunriseEarth]

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@Anonymous wrote:

So before I applied for the GoRewards, I was debating on the CashRewards, but did not pick the CashRewards card because I already have a PenFed Power Cash Rewards card. Lately been noticing here that no one really applies for the GoRewards but instead the CashRewards. Did I make a mistake in choosing a card? 

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Since I my primary spend is dining, I'm waiting for Go Rewards to have a spend offer before I apply, so that I can get the rewards, too.   I think the structure makes more sense for me than a 1.5% everything card.   Credit is a unique thing, so you may find that what works best for you won't work best for others.