topic Re: Navy Federal Card Intel in Credit Cards

Navy Federal Card Intel

Anonymous — Tue, 05 Dec 2017 20:55:49 GMT

Good afternoon my friends,

I'm sorry that I have not been on the board lately, but have been thinking of you all and wishing you well in your credit journeys.

Just acquired some intel that may be of help to Navy Federal members. Currently I have the Platinum Visa, Cash Rewards Visa, and the CLOC. My Platinum Visa is at a reasonably low APR (9.9%), but the Cash Rewards is higher and quite honestly, I have other cards that offer the same or similar rewards.

I asked Navy Federal today if it would be permissible to convert it to a 2nd Platinum, and they said that yes, you can have two of the same credit card product. I'm still considering whether I will do so.

This information may be of value to others for several reasons, and not just for lowering APR. For example, one of our myfico members may wish to have two of the same card for additional or double benefits, whether those be Cash Rewards, Flagship, or GO Rewards.

My interest primarily lies in the area of lower interest rate (no pun intended thereof), but others may have a different reason and may be wondering if it is permissible to have two of the same Navy Federal credit cards.

It definitely is, and I hope this information helps someone.

Have a wonderful day, friends.

Re: Navy Federal Card Intel

Anonymous — Tue, 05 Dec 2017 20:53:15 GMT

Great info!

Re: Navy Federal Card Intel

UpperNwGuy — Tue, 05 Dec 2017 21:36:48 GMT

I don't see how having two of the same NFCU card would be of any utility. None of the NFCU cards have limits on the rewards that can be earned (unlike Amex Blue Cash Everyday, for example). Wouldn't it be better to combine the two cards into a single card with a higher credit limit?

Re: Navy Federal Card Intel

Anonymous — Tue, 05 Dec 2017 23:04:49 GMT

Having two of the same card is very useful if both have low interest rates. And I’m aware of other myfico members who have two of the same rewards card with another lender and enjoy reaping double benefits by doing so.

My Navy Federal cards have 24k credit limits per card, so I have no interest in combining them. Navy Federal also does not allow combining.

You may not find it useful, but others certainly do. Have a great day!

Re: Navy Federal Card Intel

UpperNwGuy — Tue, 05 Dec 2017 21:55:27 GMT

If you want to max out your overall credit limit with NFCU, and keep the APR as low as possible, two of the same card would work. However, there is no "double benefit" at NFCU like there is with the Amex Blue Cash Everyday. The only case where "double benefits" come into play is when there is a limit on rewards ($6,000 per year for Amex BCE). NFCU has no limits on its rewards.

Re: Navy Federal Card Intel

Anonymous — Tue, 05 Dec 2017 21:59:39 GMT

I’m not interested in benefits, but others may well be. Two cards with lowered APR works very well for me.

Re: Navy Federal Card Intel

Creditaddict — Tue, 05 Dec 2017 22:08:36 GMT

1. you can't consolidate navy cards anymore.

2. there is a chance that ANY PC to Platinum or other reward card depending on current interest and your current credit picture vs when approved could see a lower APR on the new card... you can start the process and they can tell you what the interest will be on the new card and you can say no and back out and keep as is or move forward.

Re: Navy Federal Card Intel

Anonymous — Tue, 05 Dec 2017 23:05:23 GMT

Thanks, CA, totally agree!

Re: Navy Federal Card Intel

Creditaddict — Tue, 05 Dec 2017 23:12:58 GMT

Also you can PC a navy card every 30 days so if you go to platinum now for BT or something and later want to go back to rewards, it's easy!

Re: Navy Federal Card Intel

AverageJoesCredit — Wed, 06 Dec 2017 02:06:41 GMT

Humu, very happy to see you back Best to the family and very happy

My take is this. Im normally not keen on having multiples of same card but in this case with Navy, especially the plat, i view as having 2 very beneficial for people such as myself who would like to have one card to use if needed with a low apr and maybe have another that could be used for bt purposes. I actually tried to get my 3rd Navy card for that very reason though Navy had other ideas. In a world chock full of reward cards, having a couple low apr cards should be a good investment lol Again, just my average penny

Re: Navy Federal Card Intel

Anonymous — Thu, 07 Dec 2017 13:31:43 GMT

Thank you, AveragesJoes, nice to see you!

You are 100% correct in your points and assessment - very well said, my friend.