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NFCU Gurus please help me decide

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Super Contributor

Re: NFCU Gurus please help me decide


@MandyLou wrote:

@tcbofade wrote:

I would (and DID) go for the Platinum first... lower APR, medium starting line.  Wait 91 days AND three statements, then apply for the cash rewards... you'll get a much higher starting line.  


What is the 91/3 referring to? 


It refers to the period of time in between credit card applications with NFCU.  If you apply for x product, you must wait 91 days AND three statement cycles before applying for another product, or you'll get an auto decline.

 

 



09/01/19 Fico 8: EX 721, EQ 723, TU 745.

Last inquiry 03 September 19

Zero percent financing is where the devil lives...
Message 11 of 17
Member

Re: NFCU Gurus please help me decide

Ahhh.. good to know. Thanks

CSP $9.7K || CFU $3.4K || CF $10.2K || PNC Cash Rewards $4K || Synchrony $16K

SEPT 2019 EX: 733 TU: 735 EQ: 746
GOALS: 800 Club


In the garden until March 2020.
Message 12 of 17
Super Contributor

Re: NFCU Gurus please help me decide


@DH1988 wrote:

Hi guys! 

 

Last year I joined NFCU after reading so many wonderful things on this forum. I would like to open up a card or 2 with them but I'm indecisive so I'm hoping you guys will chime in.

 

I don't really need a credit card right now but I want to take advantage of Navy's low rates and I want to have a good relationship with them. I'd' also like to have a card with a good limit and a low APR for when I need to carry a balance.  I've been considering the Platinum or Cash rewards card. Which one would you apply for first if you were choosing between the two? 

 

In my mind the platinum is a good option but I don't love there is no reward incentives with this card. My scores are around 728 so I'm not sure if I could qualify for the 7.99% rate which makes think I should just shoot for the Cash rewards card. If I open a cash rewards now, in 3-6 mos do you think I'd have a better chance of getting a lower rate on the platinum card? Or should I start with a platinum card and then after a few months try for a cash rewards with the hopes of a high limit? 

 

Other things going into my decision  -

--My cap one QS is 15% , $7k so if I can't get a rate lower than 15%, does it really make sense to apply for either?

--Seattle Credit Union has already pre-approved me for 11% , $5k, 1% rewards, so should I just accept this considering 11% (or less) is what I'm looking for? But if I get accepted for the cash rewards at 11%, the rewards rate is higher...so should I try my luck?

 

 

Other stuff - 

-- I have 2 /4 inquries falling off 10/2/19,  the other 2 are from 10/2018 when I purchased my car

-- 2 credit cards in the last 2 years opened (AMEX CM - sept 2018,  Chase FU dec 2018), 4 cards total 

 

Thanks for your time!! 

 

 

 


You have to decide what  your priorities are. The non-rewards card has lower interest. It's that simple.


Total revolving limits 719k (592500 reporting) FICO 8 scores: EQ 735 TU 782 EX 746
Message 13 of 17
Community Leader
Super Contributor

Re: NFCU Gurus please help me decide


@Medic981 wrote:

@AverageJoesCredit wrote:
No one can tell you what apr you'll get so pick the card you'll use most at the moment. People with low scores get best apr while others with great scores get Penfed'dSmiley Wink

AJC, you sound a little... jilted. 

 

I have not applied for a PenFed card yet. As you know, I am awaiting the time I can apply for my coveted Chase 5/24 card.


Lol, nah @Medic981 , just being real though i meant the last part as an example not every case lol. My bad. Ive actually done ok on apr though ive never got best apr on first go. My CR did drop 6 points after my 1st year so csnt complain on a rewards card with 11 % aprSmiley Wink

#ChaseCreditCardHobby Enthusiast
Message 14 of 17
Valued Contributor

Re: NFCU Gurus please help me decide


@MandyLou wrote:

@tcbofade wrote:

I would (and DID) go for the Platinum first... lower APR, medium starting line.  Wait 91 days AND three statements, then apply for the cash rewards... you'll get a much higher starting line.  


What is the 91/3 referring to? 


91 days and 3 statements cuts

 


















Your FICO credit scores are not just numbers, it’s a skill.

Message 15 of 17
Valued Member

Re: NFCU Gurus please help me decide

Thank you everybody who responded! 

 

I decided I really didn't need the cash rewards because I already have two 1.5% cash back cards ( AMEX cash magnet &  cap one QS). I had an acceptance code for the NFCU more rewards amex expiring 10/31 and since my Seattle Credit Union offer already expired I (impulsively)decided  to just go for the NFCU amex. 

 

I was approved for $25,000 @ 12.99% APR! This is my highest limit, and lowest APR & I'm thrilled!!!! 

 

I'm so happy Navy showed me love like I've seen them do so many of you on these threads! yyyayy. 

Message 16 of 17
Moderator

Re: NFCU Gurus please help me decide

Congrats on your approval.  Since you are approved thread is now locked.  Feel free to create a new thread in the approval sections if you would like to share data points or continue conversation.  Thanks!

Chase | Citibank | Amex | BofA | PenFed | NFCU | Discover | 5/3rd | Synovus | Commerce | FNBO | Union Bank | Regions
Message 17 of 17
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