topic Re: Has anyone used their NavChek before? in Credit Cards

Has anyone used their NavChek before?

Anonymous — Tue, 03 Feb 2015 16:17:10 GMT

Morning guys!!!!

Just curious as to if anyone has even used their NavChek and what for? Or what's the real purpose of it?

Thanks!

Re: Has anyone used their NavChek before?

Anonymous — Tue, 03 Feb 2015 18:00:05 GMT

@Anonymous wrote:
Morning guys!!!!

Just curious as to if anyone has even used their NavChek and what for? Or what's the real purpose of it?

Thanks!

I've used it once (well technically my g/f used hers and I left mine alone). We used it for a vacation. You can use it for any purpose but if you're planning on carrying a balance for a long time, a personal loan might be better because you'd probably get a lower interest rate. It's 'real' purpose is hard to define. It also is there for adding money to your checking account if you go to $0 in the account. In that way, it's a size able overdraft protection. You can use the LOC checks to depoit into a bank account (not your NFCU account though) or use it as a personal check to pay bills, etc. So in reality it has a lot of uses depending on your needs.

Hope this helps

Re: Has anyone used their NavChek before?

Anonymous — Tue, 03 Feb 2015 20:09:28 GMT

Thanks Irish!!!!

It's good to know that if I need 15k it's there...

Re: Has anyone used their NavChek before?

Brusilov — Tue, 03 Feb 2015 20:25:19 GMT

I really just use it for occasional overdraft protection. One important thing to note about the account (versus credit cards which have a grace period) is that interest accrues immediately so you definitely want to pay it off as soon as possible.

Re: Has anyone used their NavChek before?

darkfrosty — Tue, 03 Feb 2015 20:47:23 GMT

i joined NFCU almost two months ago and people have been saying besides getting a cc .. to get navcheck for 15k. I have been hesitant to get it since I dont really bank with them yet .. still with chase

Re: Has anyone used their NavChek before?

Anonymous — Tue, 03 Feb 2015 20:58:54 GMT

@darkfrosty wrote:
i joined NFCU almost two months ago and people have been saying besides getting a cc .. to get navcheck for 15k. I have been hesitant to get it since I dont really bank with them yet .. still with chase

You don't have to bank with them to get NavCheck. Just have to open a checking account and fund it with a small amount. It's nice to have and it reports as an installment loan which depending on your file can be helpful.

Re: Has anyone used their NavChek before?

darkfrosty — Tue, 03 Feb 2015 21:07:17 GMT

I have a savings and a checking account .. but nothing is in it currently. Maybe Ill get navcheck eventually. I just don't want to get extended a lot of credit that I don't currently need because I don't want to have any issues if i need to get an auto loan or mortgage through them.

Re: Has anyone used their NavChek before?

Anonymous — Tue, 03 Feb 2015 21:13:31 GMT

@darkfrosty wrote:
I have a savings and a checking account .. but nothing is in it currently. Maybe Ill get navcheck eventually. I just don't want to get extended a lot of credit that I don't currently need because I don't want to have any issues if i need to get an auto loan or mortgage through them.

A very legitimate reason.

Re: Has anyone used their NavChek before?

Anonymous — Tue, 03 Feb 2015 22:27:09 GMT

I actually use it quite a bit. I'm locked into depositing my paycheck into USAA till 2017 due to a loan from college being contengent on my auto-deposit being set up. But I preffer to bank at Navy Fed, it is nice to be there since I only transfer money from USAA to Navy Fed to pay a few bills. Kinda an odd situation, but basically I use it to normalize all of my pay on the same days every month for bills. Its also nice to have 10k just in case I suppose.

Re: Has anyone used their NavChek before?

Creditaddict — Tue, 03 Feb 2015 22:53:23 GMT

I'm similar to the other poster that normalizes some bills and then im extreme even more!

I use NavCheck ALL THE TIME!

I have all the credit cards that we pay a fixed amount on including my partners navy card and the car all auto paying the same amount and same date each month.... this doesn't always go with money being in the accounts since I transfer paychecks in from other banks.

I dont' know, it rarely costs me anything and it makes things easier but think we are about to pay our credit card debt virtually off so may be using the overdrafts a lot more! YAY