@Anonymous wrote:When I first applied for my NFCU CashReward Visa, it had a "lowest" rate of 9.65 which was a little higher than the plain jane Visa/MC at 7.9. However, I have seen 2 different mailings from them to my kids and family members in which they solicit the CashReward and state that it is "as low as 7.9%"
CashReward is variable while non-rewards are fixed. But if no balances are carried, then I personally like the CashReward. After $10k annual spending you get 1.5% on all purchases (1% up to $10k).
So IMO, go CashReward based upon what i know of your balance habits. If you need to carry a balance...I know you'll hit PenFed or like deal.
Hi txjohn,
Your post was most interesting, to me, as I plan to apply for the NFCU cash rewards card sometime next year. After reading your post, I was somewhat confused, with respect to best rate available for this particular card, based on the information stated on the NFCU website. Perhaps, your post was not clear in my mind.
The NFCU website states, in effect, that the best rate offered by NFCU on the new cash rewards card is the prime rate plus a margin of 6.4% to 13.24%and at no time less than 7.9%. The no less than 7.9% implied to me that if the prime rate fell to less than the current 3.25% this number is possible.
I just called NFCU. I spent 23 minutes on hold and speaking to a CSR and two supervisors. What was communicated to me by NFCU, in terms of the best rate currently offered, is as follows:
1. The best rate offered by NFCU on the cash rewards card is 6.4% plus prime ( currently 9.65% )
2. They are not offering any promotions at the moment, other than this best rate as stated on the NFCU website, on the cash rewards card.
3. It is possible for one to have an overall best rate at 7.9% today. If for instance, one had a previous special promotion from a BT aggregated into the current best rate offered by NFCU of 6.4% plus prime.
I dunno...I can only repeat what I was told just now by NFCU.
@plasticman wrote:
@Anonymous wrote:When I first applied for my NFCU CashReward Visa, it had a "lowest" rate of 9.65 which was a little higher than the plain jane Visa/MC at 7.9. However, I have seen 2 different mailings from them to my kids and family members in which they solicit the CashReward and state that it is "as low as 7.9%"
CashReward is variable while non-rewards are fixed. But if no balances are carried, then I personally like the CashReward. After $10k annual spending you get 1.5% on all purchases (1% up to $10k).
So IMO, go CashReward based upon what i know of your balance habits. If you need to carry a balance...I know you'll hit PenFed or like deal.
Hi txjohn,
Your post was most interesting, to me, as I plan to apply for the NFCU cash rewards card sometime next year. After reading your post, I was somewhat confused, with respect to best rate available for this particular card, based on the information stated on the NFCU website. Perhaps, your post was not clear in my mind.
The NFCU website states, in effect, that the best rate offered by NFCU on the new cash rewards card is the prime rate plus a margin of 6.4% to 13.24%and at no time less than 7.9%. The no less than 7.9% implied to me that if the prime rate fell to less than the current 3.25% this number is possible.
I just called NFCU. I spent 23 minutes on hold and speaking to a CSR and two supervisors. What was communicated to me by NFCU, in terms of the best rate currently offered, is as follows:
1. The best rate offered by NFCU on the cash rewards card is 6.4% plus prime ( currently 9.65% )
2. They are not offering any promotions at the moment, other than this best rate as stated on the NFCU website, on the cash rewards card.
3. It is possible for one to have an overall best rate at 7.9% today. If for instance, one had a previous special promotion from a BT aggregated into the current best rate offered by NFCU of 6.4% plus prime.
I dunno...I can only repeat what I was told just now by NFCU.
Good clarification! I didn't investigate, I just saw the letter sent to my son. And it had a "low as 7.9%" with the normal * asterisk. I didn't look at all the fine print, but I am sure after reading your post that this refers to the "never lower than" and is not related to a current available rate.
When I got my card serveral months ago, I was told that I had received the best rate available at 6.4% plus prime, being 9.65%. I was happy with that, but was a little surprised by the language of the letter soliciting the cashreward to family members. I was thinking at the time.....dang it, I would like that rate!
So thanks for the super sluething! 
txjohn,
What was most surprising to me during the phone call I placed to the NFCU CC department today was that it took a CSR and two supervisors to answer my questions. On second thought...it should not surprise me based on CSRs, I have experienced speaking with, in membership services whom are not all up to speed.
The first NFCU CSR was confused with my questions and so was the first supervisor. Both expressing to me that cash rewards card was a new variable card and as such needed to speak with someone else to clearly answer my questions.
edited for clarity
guiness56 wrote:
I see that I am in the minority here but, I did not find that NFCU offered any thing above or beyond my current banking institution. Though I did join I only stayed with them for a month.
I remember when rewards cards were the hot topic here on the forums a year and a half ago. At the time, I posted that the "rewards" on CU cards were the high CL's and great service. Oddly, most of the bank rewards programs have gone bye-bye, and it seems like almost everyone is offering 1% and acting as if we should be honored to get it. * tiny dig at American Express *
I agree with you that I haven't seen anything that makes me want to switch my banking from USAA. I have too much history with them to jeopardize.
But I'm awfully impressed with their current 4.75% 30-year mortgage rate, and I'm trying to make sense of their investment products --their "folios." I need to dig in deeper to figure out what their charges are, or if any of the folios can be kept in a Roth, as I do at USAA.
I'm still thinking that I might switch to a traveling consultant job, though, and right now, I don't really have a travel card. And if I get the itch to have another high-CL card, I've got an "in" now.
jaxstraw wrote:
Congrats HTSU !
When the Cash Rewards CC came out last year I was intrigued and called a CSR to inquire. After a long talk and a little math it appears that if you use the Flagship Rewards often enough you earn more back.
I'd have to go back and work the numbers because I believe the Flagship is based on amount of spending but it did work out that way.
Out of alll of them I actually like and use the Navchek more than anything else.
Being self employed it allows me to float cash for a few weeks in between invoices.
One other thing about Navy CC, they in no way frown or consider AA for cash advances. It is an amazing fallback in case of emergency just because you're a member.
Thanks, this is good to know.
I hate the thought of having a second checking account. My ADHD makes me deeply alarmed at the thought of another one of those to keep track of! Not to mention deliberately going over-balance. I don't think I'd be able to sleep. But it is a cool arrangement for those more tough-minded than me.
I keep going back and looking at the Flagship, not sure why. One problem with a card that requires lots of use to get to a higher level of rewards is that it makes it that much harder to do the same on other cards. In the end, there's only so much money I can get through in a month! --well, and pay back, anyway.
I think that I'm going to do the same thing with Navy credit products that I did when I was planning out my CC app spree --just sit back, keep reading, and wait for one to call my name.
HTSU, I can chime in to the above discussion and add that Navy's credit card interest rates are not set in stone. What I mean to say is you can call and get apr reductions from them from time to time for being a good customer. Also, I know of at least one person who had the standard NFCU cc with a 7.9% fixed apr a couple years or so, ago. They did a product change to the Flagship Rewards Visa when it offered an $80k cl, got the full cl, and also kept their 7.9% apr...and it remains at that level today. He is a very good customer, of course. He also has kept his $80k cl, in spite of the Flagship Rewards Visa's max cl being lowered to $50k this year for new applicants, and most likely current card holders not above $50k cl yet. Gotta love them for that kind of special treatment. 
They are quite flexible in many ways. They will work with you and make their products as competitive as possible, while giving you the best deal possible.
