Navy Federal Thread for CLI and Additional Cards

[Traveler101]

Im hoping 1 of you navy cardholders can answer a question for me. Last month I was approved for the plat card at "0" interest. Just after it opened I transferred a balance. About a week later I made a payment before the first statement printed. Now today, I see a statement. It says min payment for oct is "0". If you make an irregular payment before payment is due, do they cancel next payment out? Any card I have, if I pay a payment mid month, I still have a min due on normal billing. Thanks in advance. Im really beginning to put navy as first card of choice. Thanks again in advance to who can answer this.

[Anonymous]

Anything you pay after your statement cuts applies to your next payment. I do it all the time. I pay whatever I can all month long then always make a minimum paymrnt the day after the statement cuts. That gives me time in case something comes up, I don't have a payment due for almost 2 months. But I always pay at least the minimum every month, on a no interest card.

Weird though, my credit report says a balance due, but zero payment amounts are due.

[Traveler101]

Thanks. First time I have ever seen this. I always paid all my accounts multiple times a month. And I still have a min due for normal statement. I love it!

[Anonymous]

NFCU allows you to skip a payment cycle if you paid more than minimum (2X I believe) in the previous one. It throws me off all the time and if I didn't track things with my budget app, I would actually skip that payment and I assume get hit with interest if I was just doing a quick look in the app.

[Anonymous]

Further DP here. 

I sent them an SM and asked them to take $1K from my cashRewards to open the More Rewards. That was a no. The person who reported that they were successful in doing that in approvals when also at max internal limit must have caught UW on a good day or NFCU really doesn't like something with my profile because it seems odd to be told that you're at the max they will lend you but that you can't move your existing limit around to open a new card either.

I guess that's that then. I won't bother wasting any further HPs on NFCU. Looks like Amex will be getting some more business from me once my year with Disco is over. 

It is possible that they don't want to give me the intro APR and sign up bonus but I actually wasn't interested in those anyway. I should have mentioned that when I asked in the first place but the card wouldn't get use while the Disco match is going on, I just figured that it was worth trying to get something out of the HP. 

[Anonymous]

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@Anonymous wrote:

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Thinking it'll solely be my gas card, averaging $100-$150 a month in spend; which will be paid in full. Is that treating it properly?

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I have made my minimum spend ($2.5K) on my first Navy Card (cashRewards) with a $1K limit. I think I'll probably put 3K on it before the three months are up. I put EVERYTHING on it, with a few exceptions (when I bought something that fell under Disco It's 5% cashback category). You can do it! No problem! Just check your balance regularly and pay it down when it gets too close to the limit. 

[omgitsMatt]

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@Anonymous wrote:

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@Anonymous wrote:

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Thinking it'll solely be my gas card, averaging $100-$150 a month in spend; which will be paid in full. Is that treating it properly?

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I have made my minimum spend ($2.5K) on my first Navy Card (cashRewards) with a $1K limit. I think I'll probably put 3K on it before the three months are up. I put EVERYTHING on it, with a few exceptions (when I bought something that fell under Disco It's 5% cashback category). You can do it! No problem! Just check your balance regularly and pay it down when it gets too close to the limit. 

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tenaya is absolutely right, you can totally do 3k in three months! Chasing that SUB responsibly and also getting it, because you totally can, endears you to NFCU too! That’ll come in handy when you request a CLI. High spending and PIF on a 1k CC will get you a huge CLI when you’re due. You’re in a really good spot, this’ll pay off in two fold!

I have a $200 Secured nRewards CC. I got it at the tail end of me establishing first time credit. It was absolutely and entirely an afterthought because I picked it up after an approval for a local CU CC with a 5 digit SL. At that point I already wanted to just go to the garden and leave it this alone for a while, but got it anyways because I needed a 3rd card. So I threw $200 at a secured NFCU CC. A great decision that was a total fluke because I know this card is going to be huge one day.

I’ve been bored and I don’t have any particular need for credit other than it is good to have when you need it and it’s too late to get it when you need it most.

I’ve been experimenting with my secured card, speculating on the future and what it’ll turn into if I use it a certain way. I use it to pay ALL my bills, except rent/car loan/cc bills. With some clever timing I fit every single bill (except maybe 100 to 200 a month, give or take and what month) onto my $200 CC and PIF before the balance cuts.

These are my #s, I keep track because I’m curious how NFCU will respond. If I can do it so can you, go get your SUB!

05/3/2019 -

Opened an account at $200

05/13/19 -

First purchase

05/27/2019 – 1st Statement

662.84 in purchases

703.22 in payments

Balance -40.38

06/27/2019 – 2nd Statement

1,502.76 in purchases

1,458.43 in payments

Balance +3.95

07/27/2019 - 3rd Statement

1,603.42 in purchases

1,607.38 in payments

Balance -0.01

08/27/2019 - 4th Statement

1,212.03 in purchases

1,212.02 in payments

Balance 0.00

I had a death in the family and was out of state the entire month of August, so a lot of bills my wife paid while she was still home and I wasn't. Couldn't do it with my CC, which is why it dropped below 1500.

This month I'm already at 1200. I'm going to get everything on it this time so will be over 1700.

No manufactured spending or charges that wouldn't have been done with my debit card either, that's just what my bills look like.

[Anonymous]

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@Anonymous wrote:

You've been approved for a Navy Federal More Rewards American Express� Card with a credit limit of $1000.00. Your APR is 14.99%.

not what I was expecting.

Is recon possible? This'll make the $3k spend bonus more fun I guess lol.

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My first card was $1k approval as well. 2nd card 92 days later was $15k and 3rd card another 91 days later was $25k. They value relationship. And now, you are in! 

[Anonymous]

Hey guys, a little hijack here... I just noticed that my cashRewards' APR was lowered a little bit. The card was approved in June with an APR of 15.24% and now it's 14.99%. Just a little bit lower, but still nice. I noticed that the APR is lower on September's statement (the first two statements are 15.24%). Is this a commonplace thing? 

[Anonymous]

The rate is tied to prime. Feds dropped prime .25% so rates went down