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Regular Contributor
peepers
Posts: 225
Registered: ‎05-08-2013

Re: Navy Federal

^ what he said! I had some problems applying for membership online, so I would HIGHLY recommend just calling. Quick easy process, and they are so helpful! Also, they mail you a letter with a validation number to input, if you go and enter an outside account from another bank (so you can transfer $, etc) so I just called back and they did my initial deposit by me just giving the rep my US Bank debit card info. I suggest just doing it at the time you enroll while already on with someone. I did this a day after I signed up and applied/got approved for card, and before I even gave them $5.
AMEX Green charge NPSL/ NFCU Cashrewards Visa Sig $25,000/ NFCU Navcheck $15,000/ AMEX Everyday $15,000/ Discover IT $7000/ Cap1 Quicksilver $5000/ AMEX BCP $2000/ Cap1 $2000/ CreditOne $900 (closed 1-27-14!), Amex Oasis Optima (recovery card) $500 (closed July 2014)

30% util on 1 card, 7% overall. MyFICO: TU 777, EQ 781 EX 791 Discover TU FICO 800. Rebuilt from 500's....gardening until mortgage time

Established Member
CaptainGreenThumb
Posts: 24
Registered: ‎01-02-2014

Re: Navy Federal

With your experiences... what are the benefits of Navy Federal?? Is it mainly the fact they typically provide almost excessive credit limits?

NFCU NavCheck $15,000 NFCU Platinum $12,000 Discover It $7,500 CapOne Quicksilver MC $2000
Discover FICO: 780
Valued Contributor
sailor_mercury
Posts: 2,364
Registered: ‎12-09-2013

Re: Navy Federal

[ Edited ]

CaptainGreenThumb wrote:

With your experiences... what are the benefits of Navy Federal?? Is it mainly the fact they typically provide almost excessive credit limits?


There is MUCH more than that. 

 

Fair/Low APRs if you carry a balance.

 

Twice a year they offer low (currently 2.99%) and I've read about 0% interest on balance transfers.

 

Excellent customer service and increases to you credit limit.

 

I've read cases where promotions were offered a few weeks after someone opened a card with them.  One call to customer service and the promotions were added.

 

If you read the boards you will hear customer service complaints about just about everyone but very rarely do you hear about a customer service complaint with NFCU. 

 

Edit:

You can call them every 12 months and they will review your account for interest rate reductions. 


EQ 679 - 05/02/14 (myfico.com, New Model) | Last App 05/24/14 | Goal: 750+ 9/2014
NFCU nCashRewards VISA - $20,000 | NFCU nRewards $3,000
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Established Member
CaptainGreenThumb
Posts: 24
Registered: ‎01-02-2014

Re: Navy Federal

[ Edited ]

My main reservation is that upon creating these savings/checkings/credit accounts, I would feel as if I am stuck with them forever... cancelling these accounts with such potentially high credit limits could do severe damage to a credit score if done in the distant future.

NFCU NavCheck $15,000 NFCU Platinum $12,000 Discover It $7,500 CapOne Quicksilver MC $2000
Discover FICO: 780
Mega Contributor
Creditaddict
Posts: 18,830
Registered: ‎10-23-2007

Re: Navy Federal


CaptainGreenThumb wrote:

My main reservation is that upon creating these savings/checkings/credit accounts, I would feel as if I am stuck with them forever... cancelling these accounts with such potentially high credit limits could do severe damage to a credit score if done in the distant future.


you don't want to open a huge credit line now because you feel you can't ever close it later?!

Fico Scores: EQ 639 Navy, TU 665 GE, EX 677 Prosper (07-09-14)
You will have to put up Electric Fence to keep me in the garden!
Highest Limit: Fidelity Amex $25k (AU)
Lowest Limit: Buckle $250
Over 30 Cards in between :smileytongue:
Established Member
CaptainGreenThumb
Posts: 24
Registered: ‎01-02-2014

Re: Navy Federal

Is that an outrageous thought? I apologize, I am new to all of this so I appreciate all helpful tips/pointers that are offered.

I just have a few reservations about opening checkings and savings accounts with the sole purpose of obtaining credit accounts with huge credit limits... althought it does sound like I would be silly not to do this....

NFCU NavCheck $15,000 NFCU Platinum $12,000 Discover It $7,500 CapOne Quicksilver MC $2000
Discover FICO: 780
Community Leader
Valued Contributor
DaveSignal
Posts: 2,043
Registered: ‎07-29-2011

Re: Navy Federal

The main purpose for my NFCU card is to do balance transfers once a year when they offer the 0% BT promotion. The other reason is because it helps my utilization.

 

I don't have a checking account with NFCU. I have $5 in share savings and thats all I have ever had with them.  You might like their checking accounts though, if you currently use a big bank for checking.

EX:694 TU:745 EQ:701
Barclays Arrival $6.5k - BoA Travel Rewards $15k - SDFCU EMV $15k - NFCU goRewards $20k - CSP $5k - Amex ED $19.5k
Mega Contributor
Creditaddict
Posts: 18,830
Registered: ‎10-23-2007

Re: Navy Federal


CaptainGreenThumb wrote:

Is that an outrageous thought? I apologize, I am new to all of this so I appreciate all helpful tips/pointers that are offered.

I just have a few reservations about opening checkings and savings accounts with the sole purpose of obtaining credit accounts with huge credit limits... althought it does sound like I would be silly not to do this....


Navy has amazing auto loan rates, an easy to get huge overdraft line of credit if you did use the checking account that doesn't cost any fees if it gets used as backup for overdraft.  They do mortgages too... it's not just credit cards with huge lines.

and as other said you don't have to open anything but a savings account with $5 if you don't actually want to use them for checking.

Fico Scores: EQ 639 Navy, TU 665 GE, EX 677 Prosper (07-09-14)
You will have to put up Electric Fence to keep me in the garden!
Highest Limit: Fidelity Amex $25k (AU)
Lowest Limit: Buckle $250
Over 30 Cards in between :smileytongue:
Established Member
CaptainGreenThumb
Posts: 24
Registered: ‎01-02-2014

Re: Navy Federal

From the responses I have received it sounds like I would be silly to not become a member of NFCU while I am still eligible.

NFCU NavCheck $15,000 NFCU Platinum $12,000 Discover It $7,500 CapOne Quicksilver MC $2000
Discover FICO: 780
Frequent Contributor
manyquestions
Posts: 291
Registered: ‎10-20-2008

Re: Navy Federal


CaptainGreenThumb wrote:

From the responses I have received it sounds like I would be silly to not become a member of NFCU while I am still eligible.


Yes, I can confirm that you would be silly not to become a member of NFCU if you qualify. 


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