App Spree Questions!

[Anonymous]

Those two credit unions are known for being quite generous with interest rates and credit limits and tend to be pretty easy to deal with. 

Credit unions in general tend to be looser with credit limits and offer lower interest rates. 

I have a cashRewards with Navy Federal - it’s the lowest interest they currently offer on that card, 11.65% - my next lowest card is SSFCU at 18% (both NFCU and SSFCU have a maximum interest cap of 18%) then it goes Discover and BBVA 21.24%, Capital One 24.65%

My cashRewards only has a $3000 limit right now but I have a feeling that’s because it was the fourth card I was approved for this year (third card still active since I canceled the Amex) after having no HPs for 2 years. 

Its not uncommon to see people get 15K cards from NFCU when their highest cards are 5K with other institutions. 

There have been plenty of 10-15K platinum approvals posted here lately between 7.99-10.99% interest. 

[Pikaboo-icu]

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@difringe wrote:

Thanks for the welcome! I did see that a lot of you all have joined NFCU or PenFed; I wasn't sure what the appeal was outside of them being available for veterans and their relatives (and PenFed through charity)

The cards look pretty similar to other cards, I was wondering if there's something obvious that I'm missing w/r/t what makes joining those credit unions a great option. I already have a pretty nice savings account with over 2% APY and daily compounding...

Thanks!

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They are excellent to their customers.

A relationship with them can open a lot of doors for credit products. 

Many people get their highest ever starting limits with Navy and PenFed.  PF started me at $10,000 on my first card, 10 mins after joining with a $25 savings dep. NFCU gave me a SL of $25,000 on my second card appx 6 months after opening my first. They both have great savings products too- also VERY competitive auto & mort loan. 

I financed my car via Navy. Just decided what I wanted to spend, app'd & had the prequal in a few mins.

Took it shopping and bought a car the next day- easiest car purchase EVER!

Anyway- I LOVE both of them..