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haulingthescoreup
Posts: 28,098
Registered: ‎04-01-2007
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Re: Got my fat envelope from Navy FCU --any advice about their different credit products?

Perfect, guys, thanks for all the info! Very clear, very concise, and very useful.

I'll throw $50 in the share account to match my * goes to check balance * $50.49 PenFed share account balance. :smileyvery-happy:

My problem with the cashRewards card is that I'd have to charge >$10K to get the higher whopping 1.5% cash back. It's true that 1% cash back beats 1% dorky merchandise rewards with other banks, but PenFed still has this beat.

TangMeister, great to know that product changes (wow, I have not read that phrase in over a year!) are easy. If I start with the Plat and get a traveling job, that would let me switch over pretty easily, it appears.

And I will definitely go for the online access; thanks for the advice (usmc) and the how-to (plasticman) on that. I didn't ask to start that up, because I wasn't convinced that I'd get in. I don't know if I was stuck on stupid or if the CSR was just a bit too vague, but I didn't grasp that when she said I now had a share account that this meant that I had magically been approved. So much for sending me to the membership committee, as she told me I would be.

And thanks for the tip about the user ID! You'd think that after 7+ years with the VA I could spit out my last four without thinking, but I still have to chant the whole SSN under my breath to get there. :smileytongue:

Does anyone have the Flagship Rewards and/or goRewards? I'm still trying to figure out the everyday differences between the two.

I'm still amazed at getting my fat envelope (membership packet) 36 hours after making the call!!
* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007
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asianamazon
Posts: 38
Registered: ‎07-24-2009
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Re: Got my fat envelope from Navy FCU --any advice about their different credit products?

I called in and applied for the Navcheck LOC. I asked for the minimum amount because I was hesitant because of my credit score. I didn't get an instant response. She said they would email me in a couple of days to let me know. Hopefully that's not too bad of a sign. Myfico says my EQ score is 772, as of last night, but I have a CO that hasn't been paid in dispute. My TU score is 672 and all the TL's are exactly the same as EQ, but the CO is not in dispute status on TU. The CO from around January 2007. I've been trying to GW to OC to PFD. No luck yet. I noticed a few threads stating it took a couple of days for them to process the LOC, so we'll see what happens.

 

I would like to apply for a CC, but I'm afraid of a decline. My highest CC limit is a MC from Household bank I've had for 7 years or so and it's only $1100.00. The balance is $29.00, which they charged me this month for my annual fee. I also have a Visa with Credit One and the limit is $1000.00 and the balance is $10.00. Shell limit is $950.00 with no balance. Saks limit $100.00 with no balance. And I have a Spiegel limit of $500.00 with no balance. My utilization is really low on my CC accounts and I've never been late on any CC payments.

 

I'm not sure if I should apply for a CC ? Any suggestions from people who have applied and have similar credit scores and some dings in the CR ? 

 

 

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heatherbee
Posts: 47
Registered: ‎07-14-2009
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Re: Got my fat envelope from Navy FCU --any advice about their different credit products?

Hey asianamazon, my scores are lower than yours (EQ 651, TU 642) and they approved me for two of their cards. I got the nRewards visa for $6000, and goRewards mastercard for $4000.  The first card took almost a week to get a approved, and the second card was approved the same day.  I thought I was for sure going to get declined!  I have two CO from over two years ago, and a collections from 4 years ago.  No lates since CO got paid.  So I think you have a very good chance of getting approved. 
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guiness56
Posts: 22,406
Registered: ‎01-17-2008
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Re: Got my fat envelope from Navy FCU --any advice about their different credit products?

[ Edited ]

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. 

 

When I opened my account, I did not need to wait for passwords in an email.  They set it up right then and there when I opened my account.  My online banking was also set up the same day I opened my account, right there in the office.

 

 

Message Edited by guiness56 on 09-25-2009 02:32 AM
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jaxstraw
Posts: 570
Registered: ‎03-29-2008
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Re: Got my fat envelope from Navy FCU --any advice about their different credit products?

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.

Jax

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Posts: 742
Registered: ‎12-19-2008
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Re: Got my fat envelope from Navy FCU --any advice about their different credit products?

[ Edited ]

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. 

 

When I opened my account, I did not need to wait for passwords in an email.  They set it up right then and there when I opened my account.  My online banking was also set up the same day I opened my account, right there in the office.

 

 

Message Edited by guiness56 on 09-25-2009 02:32 AM

Hi guiness56,

 

NFCU will not e-mail the online password. NFCU will insist it be mailed if you apply by phone. I have no first hand experience if you apply online but, I presume, the same policy may apply.

 

You may have been able to obtain your online password immediately because you, as stated, applied while present at an NFCU office.

edited for clarity
Message Edited by plasticman on 09-25-2009 08:13 AM
Valued Member
asianamazon
Posts: 38
Registered: ‎07-24-2009
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Re: Got my fat envelope from Navy FCU --any advice about their different credit products?

Thanks Heatherbee ! Do you mind me asking if you applied online or over the phone ? Did you apply for both at the same time ? Thanks !!
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usmc58555
Posts: 1,668
Registered: ‎02-18-2009
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Re: Got my fat envelope from Navy FCU --any advice about their different credit products?


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. 

 

Message Edited by guiness56 on 09-25-2009 02:32 AM


Not to sound mean but what were you expecting?

 

CUs and banks offer enough of the same services that comparing them is like comparing electric companies. (not even cable companies as they have too many variences in quality, service, and products offered)

 

In general NFCUs fees are much lower then average banks, their commitment to an individual's customer service is much better, interest rates charged trend to be lower, service is better then many, website blows the heck out some banks (Dollar Bank)....and they make direct deposits available a day before they should- which is nice...


Other then that they trend to be very genraous in lines of credit and very willing to work with their customers in getting lines of credit.

if lower fees, you get direct deposit, and you like having large CLs on your credit cards are important they are one of the best options out there. Otherwise, yeah there is very little to distinguish them.

Many threads you read about NFCU have people getting creidt there after being told to pound sand elsewhere.


There are other differences and perks...but not getting into that (yes GEICO car insurance discount, etc)

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txjohn
Posts: 4,214
Registered: ‎09-12-2008
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Re: Got my fat envelope from Navy FCU --any advice about their different credit products?

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.

 

:smileyhappy:

 

Credit Scoring 101 - Tuscani   *  Guide to Common Abbreviations
Frequently Requested Threads * FICO High Achievers  *  FICO Score Estimator


09/03/2009 TU: 777, EQ: 776 ($8 balance on an account dropped me out of 780's)
03/28/2009 TU: 814, EQ: 810, EX: 781 (02/12/2009)
05/18/2005 TU: 563, EQ: 580, EX: 549
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txjohn
Posts: 4,214
Registered: ‎09-12-2008
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Re: Got my fat envelope from Navy FCU --any advice about their different credit products?


usmc58555 wrote:

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. 

 

Message Edited by guiness56 on 09-25-2009 02:32 AM


Not to sound mean but what were you expecting?

 

CUs and banks offer enough of the same services that comparing them is like comparing electric companies. (not even cable companies as they have too many variences in quality, service, and products offered)

 

In general NFCUs fees are much lower then average banks, their commitment to an individual's customer service is much better, interest rates charged trend to be lower, service is better then many, website blows the heck out some banks (Dollar Bank)....and they make direct deposits available a day before they should- which is nice...


Other then that they trend to be very genraous in lines of credit and very willing to work with their customers in getting lines of credit.

if lower fees, you get direct deposit, and you like having large CLs on your credit cards are important they are one of the best options out there. Otherwise, yeah there is very little to distinguish them.

Many threads you read about NFCU have people getting creidt there after being told to pound sand elsewhere.


There are other differences and perks...but not getting into that (yes GEICO car insurance discount, etc)


 

I have found NFCU to be superior as follows:

1.  Higher initial CL's

2.  Competitive rates (actually lower than most banks and many CU's with as low as 7.9 plain and 9.65 reward)

3.  NO FEES for BT, cash, convenience checks

Credit Scoring 101 - Tuscani   *  Guide to Common Abbreviations
Frequently Requested Threads * FICO High Achievers  *  FICO Score Estimator


09/03/2009 TU: 777, EQ: 776 ($8 balance on an account dropped me out of 780's)
03/28/2009 TU: 814, EQ: 810, EX: 781 (02/12/2009)
05/18/2005 TU: 563, EQ: 580, EX: 549

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