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NFCU American Express

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UncleB
Credit Mentor

Re: NFCU American Express


@Anonymous wrote:

@UncleB wrote:

@mrldp40 wrote:
Can i convert my platinum mastercard to the amex ?


It looks like that won't be an option.  Smiley Sad

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


@Anonymous wrote:

Update on this:

Rewards Structure is expected to be:

3points per dollar on gas and groceries, 2x restaurants, 1x everywhere else.

Max. credit limit is $50k for those who qualify. Generally, members are limited well below that in their first year.

Also, product changes and convenience checks are not available.



Of course it's still early, and things could always change.  Personally I would also consider a PC, but with the rewards scheme as we think it will be I'm not likely to apply.



It's not gonna change anytime soon.  Less than one month away, NFCU (I guarantee!) has already spent wads and wads of money on promotional materials with the details.  This was probably done a few months ago actually.  No inside knowledge of NFCU, only an inside knowledge of running businesses over the years.

@Anonymous, that was just my standard disclaimer... I understand business as well and I agree the 'rules' are likely set by now, but I learned a while back until I see the official details with my own two eyes never to state anything as absolute, no matter how certain I think the facts might be.  Smiley Wink

Message 71 of 114
Anonymous
Not applicable

Re: NFCU American Express


@UncleB wrote:

@Anonymous wrote:

Update on this:

 

Rewards Structure is expected to be:

3points per dollar on gas and groceries, 2x restaurants, 1x everywhere else.

 

Max. credit limit is $50k for those who qualify. Generally, members are limited well below that in their first year.

 

Also, product changes and convenience checks are not available.


Thanks for the update!  Smiley Happy

 

It's looking like it will be similar to the BCE (assuming the points are worth 1¢), which will likely interest many people.


BCE limits you to 6k in grocery bonus a year.  If this doesn't have a limit it would be a card to get for groceries alone. 

Message 72 of 114
Sandman771
Valued Contributor

Re: NFCU American Express

I really want this as my second NFCU card. My 91 days will be up Monday. I was going to CLI and app for a second card, but reading this I should abstain from second card i guess. 

Secondly if I am successful on my CLI would there be a time period keeping me from apping a second card? In other words i could CLi and then wait until the Amex comes out and app then? 

Starting Score: EQ497/TU496/EX 499
Currently: EQ 620 TU 654 EX 627
in the garden since 6/16/2021
Message 73 of 114
mrldp40
Established Contributor

Re: NFCU American Express

No.go ahead and get the increase then apply for AMEX next month you will be fine
ready to start a rebuild ex 533 eq 518 tu 541
inquiries EQ 2 EX 0 TU 1 multiple charge off current card green dot secured 500
Message 74 of 114
mrldp40
Established Contributor

Re: NFCU American Express

I got both CLI and new card on the same day
ready to start a rebuild ex 533 eq 518 tu 541
inquiries EQ 2 EX 0 TU 1 multiple charge off current card green dot secured 500
Message 75 of 114
Scupra
Super Contributor

Re: NFCU American Express

One caution.. If the approved CLI puts you at your internal maximum limit, the 2nd card app will be declined.

Filed BK7: 7/2012 (start score EQ 560 / TU 529) Discharge 10/2012
801 EQ FICO 06/2022
797 TU FICO 04/2022
793 EX FICO 04/2022
$30k NFCU Platinum | $30.7k NFCU cashRewards Sig | $15k NavChek | $7.1k Cap1 Quicksilver | $10k Amazon Store | $19k Cap1 VentureOne | $16k Barclay Aviator | $5k Chase Freedom | $5k Chase Sapphire Preferred | $9k Costco Visa | $20k AMEX BCE | AMEX Gold | NFCU Platinum #2 $19.3k | Apple $8.5k
Message 76 of 114
Sandman771
Valued Contributor

Re: NFCU American Express

No worry of that happening. Even NFCU isn't THAT generous. But I do appreciate the warning. 

Starting Score: EQ497/TU496/EX 499
Currently: EQ 620 TU 654 EX 627
in the garden since 6/16/2021
Message 77 of 114
UncleB
Credit Mentor

Re: NFCU American Express


@Scupra wrote:

One caution.. If the approved CLI puts you at your internal maximum limit, the 2nd card app will be declined.


+1

 

This is definitely a consideration for me.  I got a CLI last September on my Platinum MasterCard but it had to go to review. 

 

The down-side to NFCU's generosity is their internal exposure limit is a real concern for those of us (like myself) with modest resources, since the big credit lines get you there faster.

Message 78 of 114
mrldp40
Established Contributor

Re: NFCU American Express

Its less than a nonth to the reported release date i figured navy advertising for amex would be in full gear by now
ready to start a rebuild ex 533 eq 518 tu 541
inquiries EQ 2 EX 0 TU 1 multiple charge off current card green dot secured 500
Message 79 of 114
UpperNwGuy
Valued Contributor

Re: NFCU American Express

Usually the advertising campaigns don't begin until the card is available for applications.  PenFed didn't start advertising its Power Cash Rewards Visa until it became available last February.  Now it's the most advertised card in America.  Similarly, it is widely known that Bank of America will be releasing it's new "premium" travel rewards card in September, but there has been no advertising yet, only leaked information.  I was even surprised that NFCU and Amex issued a press release about the card in May.

Daily Carry: PenFed Power Cash • NFCU Flagship • NFCU More Rewards • Chase Freedom
Sock Drawer: PenFed Promise • NFCU cashRewards • Chase Sapphire Preferred • Chase Freedom Unlimited • United Explorer • UNFCU Azure
Message 80 of 114
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