topic Re: USAA or NFCU?? in Credit Cards

USAA or NFCU??

Anonymous — Sun, 30 Dec 2012 22:43:24 GMT

Ive been spamming the boards with all these Credit Union questions and I'm down to my last question. I hope! Lets make an honest choice here, PenFed or NFCU? (if i can get in NFCU)

I am in the rebuilding process and looking for a solid bank to do all of my transactions. Mortgage, car loan, checking/savings, CC and other

Thanks Fico! Hopefully these post will allow everyone to know about each one!

Re: USAA or NFCU??

Anonymous — Sun, 30 Dec 2012 22:50:14 GMT

If you have a way in, NFCU.

Re: USAA or NFCU??

daybreakgonesXe — Sun, 30 Dec 2012 22:51:55 GMT

If you have excellent credit, PenFed is the way to go. They tend to use the same hard pull for account opening and all your products, and give great rates on loans. For almost any credit scale and assuming you're qualified, NFCU is good for credit lines. However, they are extremely pull happy and will pull for virtually everything!

Personally, i would go with PenFed. To me, NFCU has too many hoops to jump through XD

Re: USAA or NFCU??

Anonymous — Sun, 30 Dec 2012 22:55:56 GMT

NFCU - 1

USAA - 0

PenFed - 1

lol

Re: USAA or NFCU??

slarano — Sun, 30 Dec 2012 22:59:25 GMT

I have PenFed and USAA.

Re: USAA or NFCU??

bichonmom — Sun, 30 Dec 2012 23:19:54 GMT

@Anonymous wrote:
Ive been spamming the boards with all these Credit Union questions and I'm down to my last question. I hope! Lets make an honest choice here, PenFed or NFCU? (if i can get in NFCU)

I am in the rebuilding process and looking for a solid bank to do all of my transactions. Mortgage, car loan, checking/savings, CC and other

Thanks Fico! Hopefully these post will allow everyone to know about each one!

If you can qualify for mship in NFCU, it's definitely your better option, they are more lenient on approvals. Banking-wise, only full members can do iPhone deposits with usaa. Everyone can do iPhone deposits with NFCU. Rewards-wise and Interest rate-wise, NFCU is better with their CCs than usaa - even with usaa full members. Look at their website and compare the rewards of their CCs vs nfcu's. usaa charges ltd members higher interest rate and less rewards than their full members, and both aren't as good as NFCU.

Re: USAA or NFCU??

Anonymous — Sun, 30 Dec 2012 23:24:18 GMT

Right on. Well im going to have to figure out if I can get into NFCU if not, I will get my Grandfather to join to USAA so he can pass the membership to me and we can have it in our family. Hopefully I will be a full member!

Re: USAA or NFCU??

bichonmom — Sun, 30 Dec 2012 23:27:34 GMT

@Anonymous wrote:
Right on. Well im going to have to figure out if I can get into NFCU if not, I will get my Grandfather to join to USAA so he can pass the membership to me and we can have it in our family. Hopefully I will be a full member!

Well, frankly if I could, I would do both, if I had to choose one, I'd definitely choose NFCU. But if you can do both, its worth it. Usaa has good ins for full members, from what I have heard. id definitely get your grandfather to join.

Re: USAA or NFCU??

wallyworld123 — Mon, 31 Dec 2012 01:40:05 GMT

definitely nfcu

Re: USAA or NFCU??

greeneman21 — Mon, 31 Dec 2012 04:25:01 GMT

I bank with both. I have the following with them....

NFCU

-CC

-NavCheck (line of credit)

USAA

-main checking

-main savings

-3 CC (all points are linked which is great)

-personal loan

-auto loan

-renters insurance

-auto insurance

-VPP insurance (for my wifes wedding ring)

bottom line both banks are great, I like USAA a tad better because it offers more products and their website is top-notch in the banking industry period. Both offer top notch customer service and open 24hrs, so you cant go wrong. With USAA you can also link all of your other accounts with other financial institutions. Example, i have my NFCU products and Discover card all under my USAA login, so i can see my complete financial portfolio.

Re: USAA or NFCU??

Anonymous — Mon, 31 Dec 2012 04:33:03 GMT

NFCU by a long shot and USAA insurance is not what it used to be there are so many better options out there.

Oh Im a full USAA member banked with them for years, but compared to NFCU there plain crap

Re: USAA or NFCU??

Anonymous — Mon, 31 Dec 2012 04:34:43 GMT

Wish I could find a way into nfcu, I'd even pay to get in.

Re: USAA or NFCU??

Anonymous — Mon, 31 Dec 2012 04:53:41 GMT

Tell me about it. I will go with USAA i guess because I keep trying NFCU and veterans of wars are not allowed. USAA seems pretty solid especially compared to Wells Fargo. Ive had nothing but bad experiences. Thank you everyone for your contributions. Its truly helped me

Re: USAA or NFCU??

Anonymous — Mon, 31 Dec 2012 04:55:35 GMT

Nice Work Greeneman! I will get to your level at some point! Whats mortgages looking like with USAA?

Re: USAA or NFCU??

Anonymous — Mon, 31 Dec 2012 07:41:13 GMT

@bichonmom wrote:
@Anonymous wrote:
Ive been spamming the boards with all these Credit Union questions and I'm down to my last question. I hope! Lets make an honest choice here, PenFed or NFCU? (if i can get in NFCU)

I am in the rebuilding process and looking for a solid bank to do all of my transactions. Mortgage, car loan, checking/savings, CC and other

Thanks Fico! Hopefully these post will allow everyone to know about each one!
If you can qualify for mship in NFCU, it's definitely your better option, they are more lenient on approvals. Banking-wise, only full members can do iPhone deposits with usaa. Everyone can do iPhone deposits with NFCU. Rewards-wise and Interest rate-wise, NFCU is better with their CCs than usaa - even with usaa full members. Look at their website and compare the rewards of their CCs vs nfcu's. usaa charges ltd members higher interest rate and less rewards than their full members, and both aren't as good as NFCU.

As far as iPhone deposits, we need to compare the whole experience. Navy does allow virtually anybody to deposit checks via iPhone, but restricts funds availability. On the other hand, USAA gives instant availability on up to $10,000 per day. Given that free $10k per day short-term loan, they are prudent in restricting access.

USAA credit card rewards seem the same as, if not better, than Navy Federal's. With the Navy cashRewards Visa, I get 1%. After the rewards $s build up, you request a payout. USAA has two rewards structures. One is called, I believe, Cash Rewards and it starts at 1% and is tiered based on cumulative spending. It pays out once per year. The other structure is simply called Rewards and you get 1 point per dollar. You can redeem points and get a variable return depending on your redemption choice, but if you accumulate a minimum of 5k points you can get a 1 point = $0.01 cash redemption paid into any of your USAA accounts.

USAA offers a far wider range of financial services than Navy does. Navy, though, is more lenient in granting credit to those with issues.

Both, though, are excellent financial institutions.

Re: USAA or NFCU??

bichonmom — Mon, 31 Dec 2012 08:08:10 GMT

@Anonymous wrote:
@bichonmom wrote:
@Anonymous wrote:
Ive been spamming the boards with all these Credit Union questions and I'm down to my last question. I hope! Lets make an honest choice here, PenFed or NFCU? (if i can get in NFCU)

I am in the rebuilding process and looking for a solid bank to do all of my transactions. Mortgage, car loan, checking/savings, CC and other

Thanks Fico! Hopefully these post will allow everyone to know about each one!
If you can qualify for mship in NFCU, it's definitely your better option, they are more lenient on approvals. Banking-wise, only full members can do iPhone deposits with usaa. Everyone can do iPhone deposits with NFCU. Rewards-wise and Interest rate-wise, NFCU is better with their CCs than usaa - even with usaa full members. Look at their website and compare the rewards of their CCs vs nfcu's. usaa charges ltd members higher interest rate and less rewards than their full members, and both aren't as good as NFCU.

As far as iPhone deposits, we need to compare the whole experience. Navy does allow virtually anybody to deposit checks via iPhone, but restricts funds availability. On the other hand, USAA gives instant availability on up to $10,000 per day. Given that free $10k per day short-term loan, they are prudent in restricting access.

USAA credit card rewards seem the same as, if not better, than Navy Federal's. With the Navy cashRewards Visa, I get 1%. After the rewards $s build up, you request a payout. USAA has two rewards structures. One is called, I believe, Cash Rewards and it starts at 1% and is tiered based on cumulative spending. It pays out once per year. The other structure is simply called Rewards and you get 1 point per dollar. You can redeem points and get a variable return depending on your redemption choice, but if you accumulate a minimum of 5k points you can get a 1 point = $0.01 cash redemption paid into any of your USAA accounts.

USAA offers a far wider range of financial services than Navy does. Navy, though, is more lenient in granting credit to those with issues.

Both, though, are excellent financial institutions.

Remember, that the iPhone deposits only apply to FULL USAA members. That was my point. If you're a limited member, you cannot do that. As far as navy's rewards, I get 1% up the first $10k in a year, then 1.5% after that. I can cash out when there is $20 or more avail, which means I've spent $2k on the card. They have an option to have it credited to your cc bal, which is what I do.

i believe the 1 pt per $ reward you're referring to is also only avail to full members. Ltd members don't get as much in rewards. Based on what you wrote, if you get 1 pt per $1 and you have to have a min of 5k pts to redeem, then you can't cash out your points until you've spent $5k, as opposed to $2k with NFCU. Not a big deal, but worth mentioning.

If I could be a full member of usaa, I most definitely would. I think it's the best of both worlds. But as a ltd member. I'm rather disenchanted with them. I kind of feel like a second class citizen to them. there have been threads in the past where others have voiced the same sentiment.

Re: USAA or NFCU??

Anonymous — Mon, 31 Dec 2012 11:05:42 GMT

@bichonmom wrote:
@Anonymous wrote:
@bichonmom wrote:
@Anonymous wrote:
Ive been spamming the boards with all these Credit Union questions and I'm down to my last question. I hope! Lets make an honest choice here, PenFed or NFCU? (if i can get in NFCU)

I am in the rebuilding process and looking for a solid bank to do all of my transactions. Mortgage, car loan, checking/savings, CC and other

Thanks Fico! Hopefully these post will allow everyone to know about each one!
If you can qualify for mship in NFCU, it's definitely your better option, they are more lenient on approvals. Banking-wise, only full members can do iPhone deposits with usaa. Everyone can do iPhone deposits with NFCU. Rewards-wise and Interest rate-wise, NFCU is better with their CCs than usaa - even with usaa full members. Look at their website and compare the rewards of their CCs vs nfcu's. usaa charges ltd members higher interest rate and less rewards than their full members, and both aren't as good as NFCU.

As far as iPhone deposits, we need to compare the whole experience. Navy does allow virtually anybody to deposit checks via iPhone, but restricts funds availability. On the other hand, USAA gives instant availability on up to $10,000 per day. Given that free $10k per day short-term loan, they are prudent in restricting access.

USAA credit card rewards seem the same as, if not better, than Navy Federal's. With the Navy cashRewards Visa, I get 1%. After the rewards $s build up, you request a payout. USAA has two rewards structures. One is called, I believe, Cash Rewards and it starts at 1% and is tiered based on cumulative spending. It pays out once per year. The other structure is simply called Rewards and you get 1 point per dollar. You can redeem points and get a variable return depending on your redemption choice, but if you accumulate a minimum of 5k points you can get a 1 point = $0.01 cash redemption paid into any of your USAA accounts.

USAA offers a far wider range of financial services than Navy does. Navy, though, is more lenient in granting credit to those with issues.

Both, though, are excellent financial institutions.
Remember, that the iPhone deposits only apply to FULL USAA members. That was my point. If you're a limited member, you cannot do that. As far as navy's rewards, I get 1% up the first $10k in a year, then 1.5% after that. I can cash out when there is $20 or more avail, which means I've spent $2k on the card. They have an option to have it credited to your cc bal, which is what I do.

i believe the 1 pt per $ reward you're referring to is also only avail to full members. Ltd members don't get as much in rewards. Based on what you wrote, if you get 1 pt per $1 and you have to have a min of 5k pts to redeem, then you can't cash out your points until you've spent $5k, as opposed to $2k with NFCU. Not a big deal, but worth mentioning.

If I could be a full member of usaa, I most definitely would. I think it's the best of both worlds. But as a ltd member. I'm rather disenchanted with them. I kind of feel like a second class citizen to them. there have been threads in the past where others have voiced the same sentiment.

The 1 point = $0.01 is for all cardholders with the USAA Rewards program. Plus you get 2 points for all grocery and gas purchases. For me, that works out better than Navy. If you go for the Cash Rewards option, it's 1.25 & 2.25 respectively. But you only get a payout once per year.

Since OP wrote that he will get a family member to join as a veteran and then ride in on his coattail, he should be a full member. He'll have to get that family member to buy some type of insurance though since sometimes they seem to require that in order to pass full membership on to family members. If he can do that, he's better off with USAA's mobile deposit service than Navy's.

For me, being with both is the best option. If I had to choose one, though, I'd skip Navy. Sometimes I think they are not responsible with how they issue credit. They let my son get a $500 secured card, which I thought was good. After a year they automatically graduated the card and increased the limit to $1k, which even he recognized as too much. He called to see about reducing the limit, they put him on hold and said it was fixed. They fixed it to $25k. My son is 16. I'd love to see Navy's default numbers. Must be off the charts.

Re: USAA or NFCU??

kevinjjc — Mon, 31 Dec 2012 13:10:15 GMT

@Anonymous wrote:
@bichonmom wrote:
@Anonymous wrote:
@bichonmom wrote:
@Anonymous wrote:
Ive been spamming the boards with all these Credit Union questions and I'm down to my last question. I hope! Lets make an honest choice here, PenFed or NFCU? (if i can get in NFCU)

I am in the rebuilding process and looking for a solid bank to do all of my transactions. Mortgage, car loan, checking/savings, CC and other

Thanks Fico! Hopefully these post will allow everyone to know about each one!
If you can qualify for mship in NFCU, it's definitely your better option, they are more lenient on approvals. Banking-wise, only full members can do iPhone deposits with usaa. Everyone can do iPhone deposits with NFCU. Rewards-wise and Interest rate-wise, NFCU is better with their CCs than usaa - even with usaa full members. Look at their website and compare the rewards of their CCs vs nfcu's. usaa charges ltd members higher interest rate and less rewards than their full members, and both aren't as good as NFCU.

As far as iPhone deposits, we need to compare the whole experience. Navy does allow virtually anybody to deposit checks via iPhone, but restricts funds availability. On the other hand, USAA gives instant availability on up to $10,000 per day. Given that free $10k per day short-term loan, they are prudent in restricting access.

USAA credit card rewards seem the same as, if not better, than Navy Federal's. With the Navy cashRewards Visa, I get 1%. After the rewards $s build up, you request a payout. USAA has two rewards structures. One is called, I believe, Cash Rewards and it starts at 1% and is tiered based on cumulative spending. It pays out once per year. The other structure is simply called Rewards and you get 1 point per dollar. You can redeem points and get a variable return depending on your redemption choice, but if you accumulate a minimum of 5k points you can get a 1 point = $0.01 cash redemption paid into any of your USAA accounts.

USAA offers a far wider range of financial services than Navy does. Navy, though, is more lenient in granting credit to those with issues.

Both, though, are excellent financial institutions.
Remember, that the iPhone deposits only apply to FULL USAA members. That was my point. If you're a limited member, you cannot do that. As far as navy's rewards, I get 1% up the first $10k in a year, then 1.5% after that. I can cash out when there is $20 or more avail, which means I've spent $2k on the card. They have an option to have it credited to your cc bal, which is what I do.

i believe the 1 pt per $ reward you're referring to is also only avail to full members. Ltd members don't get as much in rewards. Based on what you wrote, if you get 1 pt per $1 and you have to have a min of 5k pts to redeem, then you can't cash out your points until you've spent $5k, as opposed to $2k with NFCU. Not a big deal, but worth mentioning.

If I could be a full member of usaa, I most definitely would. I think it's the best of both worlds. But as a ltd member. I'm rather disenchanted with them. I kind of feel like a second class citizen to them. there have been threads in the past where others have voiced the same sentiment.

The 1 point = $0.01 is for all cardholders with the USAA Rewards program. Plus you get 2 points for all grocery and gas purchases. For me, that works out better than Navy. If you go for the Cash Rewards option, it's 1.25 & 2.25 respectively. But you only get a payout once per year.

Since OP wrote that he will get a family member to join as a veteran and then ride in on his coattail, he should be a full member. He'll have to get that family member to buy some type of insurance though since sometimes they seem to require that in order to pass full membership on to family members. If he can do that, he's better off with USAA's mobile deposit service than Navy's.

For me, being with both is the best option. If I had to choose one, though, I'd skip Navy. Sometimes I think they are not responsible with how they issue credit. They let my son get a $500 secured card, which I thought was good. After a year they automatically graduated the card and increased the limit to $1k, which even he recognized as too much. He called to see about reducing the limit, they put him on hold and said it was fixed. They fixed it to $25k. My son is 16. I'd love to see Navy's default numbers. Must be off the charts.

Wow, that's amazing! Is his credit limit still 25k? If used responsibly, it will definitely help build his credit.

Re: USAA or NFCU??

Anonymous — Mon, 31 Dec 2012 14:42:09 GMT

@kevinjjc wrote:
@Anonymous wrote:
@bichonmom wrote:
@Anonymous wrote:
@bichonmom wrote:
@Anonymous wrote:
Ive been spamming the boards with all these Credit Union questions and I'm down to my last question. I hope! Lets make an honest choice here, PenFed or NFCU? (if i can get in NFCU)

I am in the rebuilding process and looking for a solid bank to do all of my transactions. Mortgage, car loan, checking/savings, CC and other

Thanks Fico! Hopefully these post will allow everyone to know about each one!
If you can qualify for mship in NFCU, it's definitely your better option, they are more lenient on approvals. Banking-wise, only full members can do iPhone deposits with usaa. Everyone can do iPhone deposits with NFCU. Rewards-wise and Interest rate-wise, NFCU is better with their CCs than usaa - even with usaa full members. Look at their website and compare the rewards of their CCs vs nfcu's. usaa charges ltd members higher interest rate and less rewards than their full members, and both aren't as good as NFCU.

As far as iPhone deposits, we need to compare the whole experience. Navy does allow virtually anybody to deposit checks via iPhone, but restricts funds availability. On the other hand, USAA gives instant availability on up to $10,000 per day. Given that free $10k per day short-term loan, they are prudent in restricting access.

USAA credit card rewards seem the same as, if not better, than Navy Federal's. With the Navy cashRewards Visa, I get 1%. After the rewards $s build up, you request a payout. USAA has two rewards structures. One is called, I believe, Cash Rewards and it starts at 1% and is tiered based on cumulative spending. It pays out once per year. The other structure is simply called Rewards and you get 1 point per dollar. You can redeem points and get a variable return depending on your redemption choice, but if you accumulate a minimum of 5k points you can get a 1 point = $0.01 cash redemption paid into any of your USAA accounts.

USAA offers a far wider range of financial services than Navy does. Navy, though, is more lenient in granting credit to those with issues.

Both, though, are excellent financial institutions.
Remember, that the iPhone deposits only apply to FULL USAA members. That was my point. If you're a limited member, you cannot do that. As far as navy's rewards, I get 1% up the first $10k in a year, then 1.5% after that. I can cash out when there is $20 or more avail, which means I've spent $2k on the card. They have an option to have it credited to your cc bal, which is what I do.

i believe the 1 pt per $ reward you're referring to is also only avail to full members. Ltd members don't get as much in rewards. Based on what you wrote, if you get 1 pt per $1 and you have to have a min of 5k pts to redeem, then you can't cash out your points until you've spent $5k, as opposed to $2k with NFCU. Not a big deal, but worth mentioning.

If I could be a full member of usaa, I most definitely would. I think it's the best of both worlds. But as a ltd member. I'm rather disenchanted with them. I kind of feel like a second class citizen to them. there have been threads in the past where others have voiced the same sentiment.

The 1 point = $0.01 is for all cardholders with the USAA Rewards program. Plus you get 2 points for all grocery and gas purchases. For me, that works out better than Navy. If you go for the Cash Rewards option, it's 1.25 & 2.25 respectively. But you only get a payout once per year.

Since OP wrote that he will get a family member to join as a veteran and then ride in on his coattail, he should be a full member. He'll have to get that family member to buy some type of insurance though since sometimes they seem to require that in order to pass full membership on to family members. If he can do that, he's better off with USAA's mobile deposit service than Navy's.

For me, being with both is the best option. If I had to choose one, though, I'd skip Navy. Sometimes I think they are not responsible with how they issue credit. They let my son get a $500 secured card, which I thought was good. After a year they automatically graduated the card and increased the limit to $1k, which even he recognized as too much. He called to see about reducing the limit, they put him on hold and said it was fixed. They fixed it to $25k. My son is 16. I'd love to see Navy's default numbers. Must be off the charts.

Wow, that's amazing! Is his credit limit still 25k? If used responsibly, it will definitely help build his credit.

Nope. Needless to say I practically went postal.

I scanned his state ID, credit card and a screen shot of his Navy Federal page showing the "fixed" CL and called to give them a heads up before faxing It to the CEO. The next day I got a phone call from some pinhead in security saying my son mislead them when asked his gross income. Gross income? He's freaking 16! WTH do you even ask a 16 year old kid his income to lower his limit? How can a minor even have unsecured revolving credit?

Another fax to the CEO and a call to the NCUA and I get a call at work that they want to come and apologize in person. They never did tell me exactly what went wrong, but they did confirm my son did misrepresent his income. When asked his gross income from all sources he stated $250 per month. Actually it's more like $300.

He still has the card and one year later it's still unsecured with a CL of $500. They swore never to raise it unless I signed off on it or until he was 18 and had real income.

I love Navy Federal and it doesn't bother me that they give insanely high limits to folks who don't merit, but were I a shareholder I'd be really worried about some of the clowns who make their credit decisions. Really worried.

I figure my son should be in good shape when he is capable of applying on his own for credit. He will have 3 years with Navy, AU on a very old AmEx and AU on USAA for 2 years. The rest is up to him.

Re: USAA or NFCU??

mt2va — Mon, 31 Dec 2012 16:38:37 GMT

I would say both.