Which NFCU Credit Card to Apply

[hawaii12]

My 22 yo son joined NFCU two days ago. Already funded account. Want to apply for a credit card but not sure which one. Fico scores currently 676 Experian, 698 TU and 664 Equifax.

24% overall utilization and only 3 inquires on reports. Have Capital One on credit that I've had for almost two years that just converted to Quicksilver and also Discover It 2K, Lowes 9k limit, Amazon 900. Use cards and then pay before statement cuts. 

Thanks for any help and suggestions.

[Anonymous]

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@hawaii12 wrote:

My 22 yo son joined NFCU two days ago. Already funded account. Want to apply for a credit card but not sure which one. Fico scores currently 676 Experian, 698 TU and 664 Equifax.

24% overall utilization and only 3 inquires on reports. Have Capital One on credit that I've had for almost two years that just converted to Quicksilver and also Discover It 2K, Lowes 9k limit, Amazon 900. Use cards and then pay before statement cuts. 

Thanks for any help and suggestions.

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It really depends on what kind of rewards he is after. He already has Quicksilver and Discover It, so maybe Cash Rewards isn't for him. I do not recommend Flagship Rewards for its average earnings and annual fee. That leaves Platinum or Go Rewards. If he is looking for a low rate card, go with Platinum; otherwise he could get the Go Rewards and earn some rewards on the card.

There is also going to be a new NFCU American Express branded card coming out in a few months. Nobody has discussed what the rewards structure will be but it should be good. Your son waiting for this card could kill two birds with one stone: getting a NFCU card that doesn't overlap C1 and Discover and getting an American Express branded card. 

The great thing about NFCU (well one of many great things about them) is that you can easily PC cards along the way. So if he starts out with Go Rewards now and then decides later to PC to the new American Epxress or Platinum etc he should have no issues. 

[UncleB]

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@Anonymous wrote:

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@hawaii12 wrote:

My 22 yo son joined NFCU two days ago. Already funded account. Want to apply for a credit card but not sure which one. Fico scores currently 676 Experian, 698 TU and 664 Equifax.

24% overall utilization and only 3 inquires on reports. Have Capital One on credit that I've had for almost two years that just converted to Quicksilver and also Discover It 2K, Lowes 9k limit, Amazon 900. Use cards and then pay before statement cuts. 

Thanks for any help and suggestions.

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It really depends on what kind of rewards he is after. He already has Quicksilver and Discover It, so maybe Cash Rewards isn't for him. I do not recommend Flagship Rewards for its average earnings and annual fee. That leaves Platinum or Go Rewards. If he is looking for a low rate card, go with Platinum; otherwise he could get the Go Rewards and earn some rewards on the card.

There is also going to be a new NFCU American Express branded card coming out in a few months. Nobody has discussed what the rewards structure will be but it should be good. Your son waiting for this card could kill two birds with one stone: getting a NFCU card that doesn't overlap C1 and Discover and getting an American Express branded card. 

The great thing about NFCU (well one of many great things about them) is that you can easily PC cards along the way. So if he starts out with Go Rewards now and then decides later to PC to the new American Epxress or Platinum etc he should have no issues. 

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+1

I just want to add that if someone is interested in the upcoming NFCU Amex it might be advisable to hold off until it comes out, since PCs to the new card might not be possible.  This would be a notable exception to their usual policy (PCs among their other products are not a problem).

http://ficoforums.myfico.com/t5/Credit-in-the-News/NFCU-American-Express/m-p/4999718#M15663

[UpperNwGuy]

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@hawaii12 wrote:

My 22 yo son joined NFCU two days ago. Already funded account. Want to apply for a credit card but not sure which one. Fico scores currently 676 Experian, 698 TU and 664 Equifax.

24% overall utilization and only 3 inquires on reports. Have Capital One on credit that I've had for almost two years that just converted to Quicksilver and also Discover It 2K, Lowes 9k limit, Amazon 900. Use cards and then pay before statement cuts. 

Thanks for any help and suggestions.

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I would wait until mid-September before applying for an NFCU card.  By then the new NFCU Amex will be available, and it has the potential to be better than any of the current NFCU cards.  Make your decision then.

[AverageJoesCredit]

Lol, knowing us in Ficoland, that Amex will come out and will disappoint the high expectations being placed on it. I hope not, by Ficoland can be a tuff crowd when it comes to rewards . Too bad i already have enough cards to go for it lol

[Anonymous]

Based on what I've read the new NFCU Amex won't be anything to write home about.

And after 8 months of use with my PRG, the only complaint I have about it is how many places still don't accept it.

[Kforce]

Mr. Negative here, swimming against the current.

With his current card lineup. I would say wait, let age, time and

normal use help his Fico ccores, card limits. and credit history.

The cc game is best played slow.

No hurry on getting another mid-level rewards card.

No need to get a NFCU card just because you are a member.

I do not believe any of NFCU CC's are anything but average in rewards.

On the positive side, NFCU is known to often give a higher than

average credit line. This can help utilization.

Even with the likelihood of getting a high CL, I would wait until my scores

and history support a card with better rewards.

[AverageJoesCredit]

Lol,id say thats exactly why we love Navy cc's so much, those huge cls. If youve never had one , nobody quite makes you feel like your putting on the ritz like Navy