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NFCU Amex Master thread. All posts go here

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AverageJoesCredit
Legendary 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 229
UpperNwGuy
Valued 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.

Daily Carry: PenFed Power Cash • NFCU Flagship • NFCU More Rewards • Chase Freedom
Sock Drawer: PenFed Promise • NFCU cashRewards • Chase Sapphire Preferred • Chase Freedom Unlimited • United Explorer • UNFCU Azure
Message 62 of 229
MrDisco99
Valued 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 229
Blackswizz750
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 229
mrldp40
Established Contributor

Re: NFCU Amex Master thread. All posts go here

Tried for AMEX instant denial

ready to start a rebuild ex 533 eq 518 tu 541
inquiries EQ 2 EX 0 TU 1 multiple charge off current card green dot secured 500
Message 65 of 229
UncleB
Credit Mentor

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 229
ccpat
Frequent 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 229
UncleB
Credit Mentor

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 229
Anonymous
Not applicable

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. ☺

Message 69 of 229
Anonymous
Not applicable

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.  

Message 70 of 229
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