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Once upon a time I heard that Navy Federal Credit Union was a great credit card to have in your arsenal.
What is everyone's thoughts on this and why is NF held in such high regard?
Right now I only have a CapOne Quicksilver and a Discover It... should my next effort be for Navy Federal? or should I look elsewhere, such as Amex BCE or Chase Freedom/Sapphire(non-preferred)? There are no bad marks on my credit history.
@CaptainGreenThumb wrote:Once upon a time I heard that Navy Federal Credit Union was a great credit card to have in your arsenal.
What is everyone's thoughts on this and why is NF held in such high regard?
Right now I only have a CapOne Quicksilver and a Discover It... should my next effort be for Navy Federal? or should I look elsewhere, such as Amex BCE or Chase Freedom/Sapphire(non-preferred)? There are no bad marks on my credit history.
You qualify for membership?
if yes, hands down they should be next because of the HUGE credit lines!
I forgot to add, I got a score watch alert and my score dropped 3 points due to the inquiry. However all my current cards are low limit rebuilders, the highest is $1750, and 3 others ranging from $500-900 limits. My balances total $2,000 so the 3 point ding is well worth what this will do for my utilization. my AAoA is like 9 years, so not sure how this new line will affect that yet. but because utilization is 30% of score, Im sure that will outweight the small decrease in AAoA
So the limits they offer are appealing if your utilization situation was like mine. 9.99% APR too!
Thanks baller!! I couldnt be happier to be a member!
Welcome to NFCU! That is an awesome starting limit! Congrats! I would apple for the ODLOC (NavChek) and ask for the full $15k, with an approval like that on your CC I highly doubt you would get turned down. Congrats again and keep us updated!
Ok I cant figure out how to quote your reply Scupra lol. I apologize if I apprear to be hijacking OPs thread. FWIW, OP everything Ive read and heard is Navy Federal is amazing for everything I guess. If you qualify, join! their interest rates are tasty too
Scupra....I will research, but what is this NavCheck thing? I am only leery of applying because I dont know how 2 brand new lines would affect my AAoA. And I have limited to 1 HP inquiry a year through rebuilding. Im sort of afraid to have 2 HPs in 3 days........
@peepers wrote:Ok I cant figure out how to quote your reply Scupra lol. I apologize if I apprear to be hijacking OPs thread. FWIW, OP everything Ive read and heard is Navy Federal is amazing for everything I guess. If you qualify, join! their interest rates are tasty too
Scupra....I will research, but what is this NavCheck thing? I am only leery of applying because I dont know how 2 brand new lines would affect my AAoA. And I have limited to 1 HP inquiry a year through rebuilding. Im sort of afraid to have 2 HPs in 3 days........
The NavCheck is a checking overdraft account. It really isn't something that I find useful since the interest rate is high. But it is nice to have for an option. The bigegst benefit is that it shows as available credit on your report. So if you're approved for $15K, it helps with your overall utilization.
If approved, then send you some checks to use. So you can access the account to pay for purchases.
Another cool thing is that twice a year they offer balance transfer offers. Right now it is 2.9% interest, with no transfer fees.
So you all would recommend joining Navy Federal and opening a savings account in order to receive one of their credit cards?
@CaptainGreenThumb wrote:So you all would recommend joining Navy Federal and opening a savings account in order to receive one of their credit cards?
if you qualify then I'd open a checking and savings account. Put $5 in each. Then apply for credit card and navcheck