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Good afternoon my friends,
I'm sorry that I have not been on the board lately, but have been thinking of you all and wishing you well in your credit journeys.
Just acquired some intel that may be of help to Navy Federal members. Currently I have the Platinum Visa, Cash Rewards Visa, and the CLOC. My Platinum Visa is at a reasonably low APR (9.9%), but the Cash Rewards is higher and quite honestly, I have other cards that offer the same or similar rewards.
I asked Navy Federal today if it would be permissible to convert it to a 2nd Platinum, and they said that yes, you can have two of the same credit card product. I'm still considering whether I will do so.
This information may be of value to others for several reasons, and not just for lowering APR. For example, one of our myfico members may wish to have two of the same card for additional or double benefits, whether those be Cash Rewards, Flagship, or GO Rewards.
My interest primarily lies in the area of lower interest rate (no pun intended thereof), but others may have a different reason and may be wondering if it is permissible to have two of the same Navy Federal credit cards.
It definitely is, and I hope this information helps someone.
Have a wonderful day, friends.
I don't see how having two of the same NFCU card would be of any utility. None of the NFCU cards have limits on the rewards that can be earned (unlike Amex Blue Cash Everyday, for example). Wouldn't it be better to combine the two cards into a single card with a higher credit limit?
If you want to max out your overall credit limit with NFCU, and keep the APR as low as possible, two of the same card would work. However, there is no "double benefit" at NFCU like there is with the Amex Blue Cash Everyday. The only case where "double benefits" come into play is when there is a limit on rewards ($6,000 per year for Amex BCE). NFCU has no limits on its rewards.
1. you can't consolidate navy cards anymore.
2. there is a chance that ANY PC to Platinum or other reward card depending on current interest and your current credit picture vs when approved could see a lower APR on the new card... you can start the process and they can tell you what the interest will be on the new card and you can say no and back out and keep as is or move forward.