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NFCU Amex Master thread. All posts go here

Super Contributor

Re: NFCU Amex Master thread. All posts go here

Looks like another go rewards type card. Probably a good card if someone wanted a trifecta with Navy and didnt want Flagship. Its tuff to please this crowd lolSmiley Wink
Message 61 of 211
Frequent Contributor

Re: NFCU Amex Master thread. All posts go here


MrDisco99 wrote:

UpperNwGuy wrote:

-- I am disappointed to see that the rewards program is being run by TSYS, the same vendor who runs the Flagship Rewards and Go Rewards programs.  I had hoped that part of the NFCU-Amex deal would be to use Amex's LoyaltyEdge subsidiary to design a new and innovative rewards program for NFCU.  That didn't happen.


What about the program do you think would've been better done by someone other than TSYS?

 

 


Here are a few things they could have done:

— cash-based instead of points-based rewards

— no minimum redemption (like NFCU cashRewards) or low minimum redemption (like PenFed Power Cash) rather than a $50 minimum (like Go Rewards)

— allow posting of cash rewards to checking (like NFCU cashRewards) rather than only to savings (like Go Rewards)

— specialize in monetized rewards like deposits to checking/savings and statement credits (like NFCU cashRewards) rather than an oriental bazaar of travel, merchandise, and gift card alternatives, all of which are duplicated on other NFCU cards.

In my wallet: Chase Sapphire Reserve • PenFed Power Cash Rewards
Also have: Chase United MileagePlus Explorer • UNFCU Azure • NFCU cashRewards • NFCU Go Rewards • PenFed Promise
Message 62 of 211
Established Contributor

Re: NFCU Amex Master thread. All posts go here


UpperNwGuy wrote:

MrDisco99 wrote:

UpperNwGuy wrote:

-- I am disappointed to see that the rewards program is being run by TSYS, the same vendor who runs the Flagship Rewards and Go Rewards programs.  I had hoped that part of the NFCU-Amex deal would be to use Amex's LoyaltyEdge subsidiary to design a new and innovative rewards program for NFCU.  That didn't happen.


What about the program do you think would've been better done by someone other than TSYS?

 

 


Here are a few things they could have done:

— cash-based instead of points-based rewards

— no minimum redemption (like NFCU cashRewards) or low minimum redemption (like PenFed Power Cash) rather than a $50 minimum (like Go Rewards)

— allow posting of cash rewards to checking (like NFCU cashRewards) rather than only to savings (like Go Rewards)

— specialize in monetized rewards like deposits to checking/savings and statement credits (like NFCU cashRewards) rather than an oriental bazaar of travel, merchandise, and gift card alternatives, all of which are duplicated on other NFCU cards.


What you're describing sounds a lot like the Cap1 rewards program, which TSYS also does, along with the other NFCU programs you mentioned.

 

All of those things (rules) are decided by the issuer.  Granted, it's a collaborative process, but in the end TSYS implements what they ask.

 

Disclaimer: TSYS pays my mortgage

Message 63 of 211
Established Contributor

Re: NFCU Amex Master thread. All posts go here

For now, I will sit in the garden on this one. Its good they are branching off to the AMEX side but the rewards mimic their gorewards and the AMEX BCE(they have 3% for groceries). The only thing I like is there is no cap like discover and AMEX on their BCE(and preffered) and no AF. I will see how it does from in 6 months(maybe the bonuses will come around the holidays or some temp perks). I used to jump when new cards were introduced.Smiley Indifferent

Message 64 of 211
Established Contributor

Re: NFCU Amex Master thread. All posts go here

Tried for AMEX instant denial

fico 11/01/01//2017 tu 634eq 631
ex 613overstock src="http://ficoforums.
Message 65 of 211
Moderator

Re: NFCU Amex Master thread. All posts go here

This one's not for me but I can see how it could fill a gap for others, especially those who might be locked out of Centurion Bank and are looking for a 3% grocery card.

Message 66 of 211
Regular Contributor

Re: NFCU Amex Master thread. All posts go here

Anyone know what TU scores are being approved?  Also, if you're AMEX blacklisted, are you auto denied?

Message 67 of 211
Moderator

Re: NFCU Amex Master thread. All posts go here


ccpat wrote:

Anyone know what TU scores are being approved?  Also, if you're AMEX blacklisted, are you auto denied?


This card is issued and underwritten by NFCU, not Centurion Bank (Amex)... it only runs on the Amex network.

 

I'll have to leave the score range to others; it might be a little while before we have sufficient data points.

 

Edited to add:  I'll personally be surprised if the underwriting is much different from their other cards.

Message 68 of 211
Valued Contributor

Re: NFCU Amex Master thread. All posts go here


UncleB wrote:

This one's not for me but I can see how it could fill a gap for others, especially those who might be locked out of Centurion Bank and are looking for a 3% grocery card.


It definitely fills that gap for me. ☺

Current Scores------ EQ 684; TU 653; EX 688 FICO 08--- Gardening from 09/07/17 until "Winter is Over"
Beginning Scores-- EQ 632; TU 576; EX 619 FICO 08 (06/13/16) - BK7 discharged 11/2015

Take the myFICO Fitness Challenge
Message 69 of 211
Valued Contributor

Re: NFCU Amex Master thread. All posts go here


UpperNwGuy wrote:

My quick assessment of the new NFCU More Rewards:

-- I wish it were Visa instead of Amex.  It will be mostly useless overseas.

-- I wish it had a signup bonus.  It doesn't, even though NFCU has offered signup bonuses on other cards recently.

-- I am disappointed to see that the rewards program is being run by TSYS, the same vendor who runs the Flagship Rewards and Go Rewards programs.  I had hoped that part of the NFCU-Amex deal would be to use Amex's LoyaltyEdge subsidiary to design a new and innovative rewards program for NFCU.  That didn't happen.

-- The 3% for both groceries and gas is a wee bit better than the Amex BCE which gives 3% for groceries and 2% for gas.

-- The new card has a high minimum redemption, $50.  At my rate of spending, $3000 groceries and $300 gas per year, I would only be able to redeem once every 6 or 7 months.  High minimum redemptions are what soured me on both Go Rewards ($50) and Amex BCE ($25) last year.  I prefer the NFCU cashRewards redemption policy of any amount any time.

-- Rewards are based on "points" which can be devalued.  The points can't be combined across other NFCU cards.

-- The overall rewards redemption scheme (travel, merchandise, gift cards, pay with points, cash back) is every bit as complicated as Go Rewards, despite the bold press release in May 2017 that this card would have a simple, easy to understand rewards program.  In fact, More Rewards looks like almost a carbon copy of Go Rewards with groceries substituted for dining as the lead bonus category.

 

My verdict:  I'm going to pass on the More Rewards card.  I'll continue to use PenFed Power Cash Rewards for groceries and gas. Although I'll earn 2%  on Power Cash vice 3% on More Rewards, the dollar difference will only be $33 a year, too low an amount to endure the hassle of managing More Rewards.


How is Go Rewards redemptioin complicated.  Earn 5000 points redeem for 50 dollars cash.  I don't see anything complicated about that.   The problem with the BCE is it limits you to 6000 spend a year on groceries. I spend over 12k a year on groceries so it wouldn't even cover half my year.   I don't think 25 dollars is a high redemption level. If you don't spend much on groceries or gas than don't focus on cards that give you bonus in those categories.  

BOA Cash Rewards, AMEX BCE, AMEX PRG, AMEX Ameriprise Platinum, AMEX SPG, CITI AADvantage Platinum, Chase Hyatt, Chase Southwest Premier, Chase Southwest Plus, Barclay Arrival +, Barclay AAdvantage Red Aviator, USAA Prefered Cash Rewards , Cap One Quicksilver, Lendup L card, JCrew, Pottery Barn, Express, NFCU Go Rewards.
Message 70 of 211