Worth converting NFCU Cash Rewards to Flagship?

[JoeBanks]

I currently have a 20K NFCU Cash rewards Signature. I use this card as my everyday card and just about everything that isn't business related goes onto it. I recently was reading the changes to the Flagship rewards program and became interested. Would it be a smart move to absorb the $49 annual fee on the Flagship for the rewards that are offered?

[electra]

Glad you asked...I have the same question.  <subscribe!>

[webhopper]

I think that there is no harm in opening the Flagship...  One overseas trip with no Forex fees will definately help with having the card pay for itself. 

You can always move a portion of your cash card over to open the new flagship, keeping 15k on the cash, and 5k on the Flagship.  Also consider that Flagship points never expire

If you move credit lines to open the new account, you won't get a HP

[CreditJunkie917]

How will that affect the tradelines? Will it report as a new acct?

[webhopper]

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@CreditJunkie917 wrote:
How will that affect the tradelines? Will it report as a new acct?

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Yes, it reports as a new account... Opened since 05/2013

[Creditaddict]

I have a thread about this... My partner applied for Flagship as we currently have the cash sigi, Navy said for now the $35k on the cash was enough credit line but if he wanted to use some of that line they would be happy to open the Flagship.... So he took $5k from cash and opened a sigi.

Sigi is going to be our new daily card, especially after the recent Amex FR and such... We left $30k on cash because my thinking is we know that any CLI request with Navy over $25k is HP, lets leave as much as possible there so we don't have to ask for long long time and we are seeing CLI 2-3 months into a new account with either HP for first request and then SP in the future so I figure put $5k on the new Flagship and in 3 months just request it to go to $25k which if it is in the SP system it will give it or counter and see from there!

I'm SUPER happy with Navy as usual and now in full press trying to convince my partner that his 14 year history with Wells IS NOT getting him anything special moving forward and we should bank 95% with Navy!!

[Datx]

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@webhopper wrote:

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@CreditJunkie917 wrote:
How will that affect the tradelines? Will it report as a new acct?

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Yes, it reports as a new account... Opened since 05/2013

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Sucks that it reports as a new account. Do they not keep the account number the same?

[JoeBanks]

Thanks for the input everyone. If that is the case (product change generates new acnt# and open date) then I most likely won't be making the change. 

[RemyWinchester]

I would not switch. I have had both.  I now only have the cashRewards. 

Flagship will charge you $49 on your first statement for the annual fee. 

You will have to accumulate a ton of points to get up to 2% back.  I'd rather stick with cashRewards. Both are Visa Signatures.  I anticipate that NFCU will be rolling out a 3-2-1 or quarterly bonus program in the near future. I'm not a fan of annual fees. 

My counter argument against the 0% foreign transaction fee is the annual fee. If, and this is a BIG IF, you spend so much time out of the country than it might be worth it, but there are plenty of no FTF no annual fees out there. It's a nice perk, but I tend to think most people dont leave the country enough to justify the annual fee.  Also, the FTF on the cashRewards is only 1% which is very low. 

Keep the cashRewards. I recently cashed in $0.25 to test the no min limit, and it went instantly to my savings account unlike Chase UR which takes 3 days or so to credit your account. 

Unless you push $2K plus a month through the card, keep the CR card

[CreditJunkie917]

+1. transferred $28 the other day and went through without issue