topic Re: NFCU Upgrade/Two of the same in Credit Cards

NFCU Upgrade/Two of the same

CrimsonMoon93 — Tue, 21 Jun 2022 01:55:40 GMT

My secured was finally upgraded to a cashrewards after having it for two years. During that time, I've opened another cashrewards and the Amex card.

I'd imagine it probably wouldn't be the best idea to get rid of this upgraded card as it is my oldest line as of right now. But I really don't want two of the same CC. Any suggestions?

Re: NFCU Upgrade/Two of the same

Aim_High — Tue, 21 Jun 2022 02:08:13 GMT

@CrimsonMoon93 wrote:
My secured was finally upgraded to a cashrewards after having it for two years. During that time, I've opened another cashrewards and the Amex card.

I'd imagine it probably wouldn't be the best idea to get rid of this upgraded card as it is my oldest line as of right now. But I really don't want two of the same CC. Any suggestions?

I guess your signature isn't current, @CrimsonMoon93? I don't see any AMEX or the second cashRewards, so I'm wondering if anything else is missing. Which AMEX card do you carry now?

Depending on your other cards and your needs, I think the best value cards that Navy FCU has are

the Platinum Visa (with a low permanent APR as low as 6.24% right now)
the More Rewards AMEX that pays 3% (3X points; 1 point = 1%) on supermarkets, gas, transit, restaurants - all uncapped, and
the Flagship Rewards Visa that earns 3% on travel and 2% on everything else with a $49 AF (potentially reduced by $25/year if you take advantage of the TSA Global Entry reimbursement of $100 once every four years.)

And I believe you can product change without restrictions into any of those cards from cashRewards, although you would not get the new product SUB offering.

Re: NFCU Upgrade/Two of the same

CrimsonMoon93 — Tue, 21 Jun 2022 02:12:34 GMT

It is not. I've opened a Delta AMEX, MoreRewards Amex, and a discover. If I can switch over my VisaSig more rewards or switch the new more rewards I'd do that.

Re: NFCU Upgrade/Two of the same

babygirl1256 — Tue, 21 Jun 2022 02:15:25 GMT

Congrats on the secured card upgrade and you other approvals!!!

Re: NFCU Upgrade/Two of the same

Aim_High — Tue, 21 Jun 2022 02:37:44 GMT

@CrimsonMoon93 wrote:
It is not. I've opened a Delta AMEX, MoreRewards Amex, and a discover. If I can switch over my VisaSig more rewards or switch the new more rewards I'd do that.

Gotcha.

So if you have a Delta AMEX, I suppose you do some travel? Perhaps the Flagship Rewards would be a good fit, especially since you also don't have a flat-rate 2% or higher card. The downside is that normally your CL must be at least $5K, I believe, to qualify for the Flagship Rewards as a Visa Signature.

If you have the More Rewards, I would keep that since most consumers can benefit from the 3% categories.

The next best card would be the Platinum which offers a great low APR for temporaily carrying a balance. And they offer some great BT deals on that card. It's a great tool for flexibility to have in your wallet.

Re: NFCU Upgrade/Two of the same

UncleB — Tue, 21 Jun 2022 05:56:09 GMT

@CrimsonMoon93 wrote:
My secured was finally upgraded to a cashrewards after having it for two years. During that time, I've opened another cashrewards and the Amex card.

I'd imagine it probably wouldn't be the best idea to get rid of this upgraded card as it is my oldest line as of right now. But I really don't want two of the same CC. Any suggestions?

If I understand correctly, you now have the More Rewards Amex and two CashRewards cards?

If this is the case - and if there are no other considerations - I would do a PC of one of the CashRewards to a Platinum. They'll automatically give you the best APR you're eligible for and with a little luck it'll be their lowest rate.

Of course if there are other considerations (travel, etc.) then thoughts might change.

In any case, congratulations on your upgrade!

Re: NFCU Upgrade/Two of the same

OmarGB9 — Tue, 21 Jun 2022 13:39:07 GMT

Just PC one of your CashRewards cards to a different one.

Re: NFCU Upgrade/Two of the same

CrimsonMoon93 — Tue, 21 Jun 2022 17:00:46 GMT

How do I go about this? Just call and ask?

Re: NFCU Upgrade/Two of the same

CrimsonMoon93 — Tue, 21 Jun 2022 18:33:05 GMT

@Aim_High

Alright so heres what I have

cashRewards, 1.75% cash back

Visa Sig cashRewards, 1.75% cash back

More Rewards, 3x supermarkets/gas/restaurants, 1x everything else

Discover, 5% rotating

Amex Delta, 2 miles per dollar at restuarants

If I'm going to PC, should I PC the VisaSig cash to a VisaSig Flagship? I already have a QS1 that has an annual fee, 1.5% back. Or should I PC the cashRewards over to a go rewards, Platinum, or keep it the same?

Now, I can switch my Vis

Re: NFCU Upgrade/Two of the same

devilnic — Tue, 21 Jun 2022 18:37:15 GMT

Yes @CrimsonMoon93 You just call and ask! They are easy peasy

Re: NFCU Upgrade/Two of the same

Jordan23ww — Tue, 21 Jun 2022 19:31:00 GMT

Congratulations on your secured card graduation. If you have at least a $5K limit I would recommend converting your newer Cash Rewards to the Flagship and keeping the More Rewards. Just know though you won't be eligible for the welcome offer doing this.

If you aren't able to do that perhaps combine the limit of the newer cash rewards into the Cash Rewards that just graduated and then close that account.

For me I find now that I have the Flagship we never use the Cash rewards my wife opened because 2% is better than the 1.5%. We just put a monthly subscription on it so it isn't closed for inactivity.

Re: NFCU Upgrade/Two of the same

CrimsonMoon93 — Tue, 21 Jun 2022 19:59:19 GMT

@Jordan23ww

I would keep the more rewads. I'm figuring out what to do with the 2 cashrewards cards. I'm asking if I should switch the VisaSig Cash rewards over to a signature flagship or not.

Re: NFCU Upgrade/Two of the same

Aim_High — Tue, 21 Jun 2022 20:37:40 GMT

@CrimsonMoon93 wrote: @Aim_High
Alright so heres what I have
cashRewards, 1.75% cash back
Visa Sig cashRewards, 1.75% cash back
More Rewards, 3x supermarkets/gas/restaurants, 1x everything else
Discover, 5% rotating
Amex Delta, 2 miles per dollar at restuarants

If I'm going to PC, should I PC the VisaSig cash to a VisaSig Flagship? I already have a QS1 that has an annual fee, 1.5% back. Or should I PC the cashRewards over to a go rewards, Platinum, or keep it the same?

Now, I can switch my Vis

You've got a couple of ways to play this, @CrimsonMoon93. How you proceed depends on which cards offer you the best value for your situation.

I would keep the More Rewards card. As I mentioned, the 3% categories are quite useful and competitive with some of the other better cards available in their categories.

Between the two cashRewards cards, I thought you had intended to keep one of them, and that would be fine. It sounds like you've got the Direct Deposit enhancement so that you can earn 1.75%. That beats your Quicksilver earning 1.5%.

So you can either product change one card or two cards, depending on your overall goals, spending, and credit strategy, as long as you're willing to forgo the SUBs on those one or two new cards. (Sometimes, I think it's best to save the "new accounts" and "new inquiries" dings to my credit by product changing, which also preserves the account age of older cards.)

If you product change (ONE) card, I'd recommend you choose between the Platinum Visa or Flagship Rewards Visa. The Platinum might be attractive to you if you do sometimes carry a short-term balance for a month or two and want a way to do that with a lower permanent interest charge. It's also handy for any unexpected emergency expenses, even if you don't normally carry balances. And as I mentioned Navy FCU frequently offers special Balance Transfer deals on this card. The Flagship Rewards might be attractive if you spend regularly on travel expenses, which it sounds like you might with that Delta AMEX card. The FSRs card earns 3% back on travel and 2% back on everything else. It can be a pretty good "daily driver" but especially when combined with the More Rewards card. Between the two of those, you would earn:

3% on travel including airfare, cruises, hotels, rental cars, time shares, campgrounds, RV parks, ride share services, parking, tolls, ferries, and entertainment (museums, amusement parks, public golf courses).
3% on grocery stores.
3% on restaurants and food delivery.
3% on gas.
2% on all other purchases.

While the FSR does have a $49 AF, if you use the TSA Global Entry credit ($100 every four years), the effective AF is only $24 ($49 - $25 annual effective credit.) That's pretty cheap for a card that earns 3%/2% and includes some premium benefits such as Purchase protection, Travel and Emergency Assistance, Secondary Car Rental CDW, Lost Luggage coverage (up to $3K), Travel Accident insurance up to $250K, and ID Navigator benefits through Norton for Identity Theft assistance. While there are cards that will give you 2% on everything or 3% on travel without an AF, the value is pretty good for the money when considering the entire package, IMO. >This< is the link to the Flagship Reward's card reward program description and >This< is the link to read about the card benefits with the Flagship Rewards.

Now here's a thought. If you can use both of those cards, PC one of your cashRewards to a Platinum if that is useful to you. And then PC the other one to the Flagship Rewards! The FSR would give you more than the 1.75% you earn on everything with the cashRewards, along with those other benefits. That would leave you with what I believe to be the three best Navy FCU cards: the More Rewards, the Flagship Rewards, and the Platinum.

Re: NFCU Upgrade/Two of the same

Aim_High — Tue, 21 Jun 2022 20:42:43 GMT

@Jordan23ww wrote:
If you aren't able to do that perhaps combine the limit of the newer cash rewards into the Cash Rewards that just graduated and then close that account.

Unfortunately, @Jordan23ww, Navy FCU stopped allowing the combination of credit limits about a year or so ago. The only exception has been some members who were doing it as part of a balance transfer from other cards and needed the higher limit to take better advantage of the BT offer.

Re: NFCU Upgrade/Two of the same

Jordan23ww — Tue, 21 Jun 2022 23:53:56 GMT

@CrimsonMoon93 wrote:
@Jordan23ww

I would keep the more rewads. I'm figuring out what to do with the 2 cashrewards cards. I'm asking if I should switch the VisaSig Cash rewards over to a signature flagship or not.

@CrimsonMoon93 yep, I was saying keep the More Rewards and convert one of the Cash Rewards to a Flagship.