New NFCU Visa charges

[bichonmom]

I have my brand new NFCU cash rewards Visa and have been using it the last few days, as I would have used my debit card previously. Not sure how much -- maybe around $300. The CL is only $2k. My concern is that I'm going to raise a red flag w/them by using the card too much right away.

My sole reason for using it is to get the 1% cash back, and I have already signed up for cash transfers on the website. However, the message I got said that they were sending me a confirmation letter that they need back before completing the set up of transfers from my non-NFCU checking acct.

As soon as that is done, I plan on making transfers every week or two, depending on how much I spend on the card. But in the meantime, it may take a couple of weeks for me to get their letter and return it to them. So, I'm concerned that they may freak out about my charging too much with a new card.

Does anyone have experience w/this? Do you think it's a concern with them? Or are they pretty good with this?

Thanks!

[rootpooty]

The way I see it is they gave you a 2k limit so spend away till 2k! Call them if you have any questions they have the best customer service I have seen in a while

[jasimae]

Either you're using the card or your not.  Why app for it if you're not going to use it?  If NFCU didn't want you to use the card they wouldn't have approved you for it. Honestly, 1% cash back isn't really a reason to apply for any card (unless you're running thousands of dollars through it every month consistently), IMO, but everyone has their reasons and their "stated" needs.  I don't think you spending any amount will freak them out, but I'm pretty sure that you not paying will.  If you're questioning them maybe you're really questioning yourself subconsciously.  Obviously NFCU will go with what you demonstrate to them.  You've already demonstrated that you can spend, spend, spend.  Now just demonstrate that you can pay, pay, pay.

[Anonymous]

Not a problem at all when I got my NFCU cash rewards card I did alot of balance transfers and spent money amounting to a full 7k ... I couldn't pay it before the first statement cut with it being a new card but it is now paid. I did have an issue with my first purchase of 466 i'm guessing because it was a new card and I had to call and tell them it was fine ... I haven't had an issue since. The cash rewards is the best  

[bichonmom]

Thanks for the replies. My concern only comes from having read posts here about people getting CLD, AA, FR, etc. when they have spent a lot right away on a new CC. It may be the company/bank that makes a difference.

Quinn, I'm curious as to why you couldn't make a payment before the first statement cut. I've already semi-setup the online bank transfer, so I'm hoping to make a transfer  as soon as I can complete the paperwork. I'd hate for a large balance to show up on my CR.

[haulingthescoreup]

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@bichonmom wrote:

Thanks for the replies. My concern only comes from having read posts here about people getting CLD, AA, FR, etc. when they have spent a lot right away on a new CC. It may be the company/bank that makes a difference.

Quinn, I'm curious as to why you couldn't make a payment before the first statement cut. I've already semi-setup the online bank transfer, so I'm hoping to make a transfer  as soon as I can complete the paperwork. I'd hate for a large balance to show up on my CR.

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I'm not Quinn , but it's very common not to be able to pay from a lender's site before the first statement generates. Afterwards, it's a non-issue.

The way around that is to pay from your online banking site, which "pushes" the payment in to the lender, Navy in this case. When you pay on the lender's (=Navy's) site, it "pulls" the payment in from your bank.

If you are going to push a payment in from your bank, be aware that there is often a delay of several days in the lender crediting the payment. If you want the payment to credit before the statement drops, you'll want to make it a good 4-5 days before the statement date to allow time for it to get acknowledged. Any charges made or posted in the interim would show up on the statement, of course.

[bichonmom]

Hauling, Thank you. I know it was that way w/my Old Navy acct. But I didn't see that restriction on NFCU's site. I'll take that into account when charging/paying this month!

[Anonymous]

You don't need to worry about it too much. NFCU isn't Amex or Barclay's, they're not going to CLD or FR you or close your account for no reason. When I applied for my card the reps at the credit card department kept pointing out that if I spend the annual $10k, it goes up to 1.5%. They want you to use the card. And since they only gave us low CLs to start, it's not like we can screw up that bad.

I mean my card is only 1.5k, and in the first week after getting the card I had to put a 1.1k charge on it to pay for car repairs. They didn't care. I paid it off before the first statement hit. I've had the card for just under/around 4 months now, and I've put about $6k through it so far. They denied my CLI (still waiting for the letter on that) but they really haven't given me any issues about using it for all my purchases.

Other than that, the only issue is that if you make more than 3 payments in a 15 day period they hold your ACH payment hostage for another 7 days to make sure it clears. I guess it's to prevent losses on their end. I'm not sure if that's something they'll ALWAYS do, or just something they do while your account is new.

But they haven't given me any issues with any purchases. Car repairs, bills, online purchases (Amazon etc), dining out, it's all been good. I've run the card up to 80% util and paid it off, no issues. I just bought a gun using the card Friday, and no squeaks about that either. Except for them being so stingy about my CL, I really can't complain about NFCU, I like having their card. I don't think they're going to give you any grief for using the card - that's why they gave it to you.

[bichonmom]

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@Anonymous wrote:

You don't need to worry about it too much. NFCU isn't Amex or Barclay's, they're not going to CLD or FR you or close your account for no reason. When I applied for my card the reps at the credit card department kept pointing out that if I spend the annual $10k, it goes up to 1.5%. They want you to use the card. And since they only gave us low CLs to start, it's not like we can screw up that bad.

I mean my card is only 1.5k, and in the first week after getting the card I had to put a 1.1k charge on it to pay for car repairs. They didn't care. I paid it off before the first statement hit. I've had the card for just under/around 4 months now, and I've put about $6k through it so far. They denied my CLI (still waiting for the letter on that) but they really haven't given me any issues about using it for all my purchases.

Other than that, the only issue is that if you make more than 3 payments in a 15 day period they hold your ACH payment hostage for another 7 days to make sure it clears. I guess it's to prevent losses on their end. I'm not sure if that's something they'll ALWAYS do, or just something they do while your account is new.

But they haven't given me any issues with any purchases. Car repairs, bills, online purchases (Amazon etc), dining out, it's all been good. I've run the card up to 80% util and paid it off, no issues. I just bought a gun using the card Friday, and no squeaks about that either. Except for them being so stingy about my CL, I really can't complain about NFCU, I like having their card. I don't think they're going to give you any grief for using the card - that's why they gave it to you.

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Good to know! I probably wouldn't do more than weekly payments, but still that could be 3 in 15 days, so I'll definitely keep that in mind.