Which NFCU Card To Apply For?

[Anonymous]

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@Dalmus wrote:

And..... I had a nice surprise to wake up to!

Woke up to go get a drink of water... Saw the LED on my phone blinking green, which means email.  Being the zombie I normally am at 2am, I just automatically picked it up after a big gulp and looked at it, and ALMOST (not quite) did a tv sitcom "spit take,"

Approved for the goRewareds, $14,200.  Interest rate of 15.24% is a little high compared to others I've seen on here, but a full 3 points lower than my lowest current card. 

The jist of their response to the secure message was "Thank you for the detailed explanation of your credit history and your paystubs.  You have been approved for the goRewards card.  We offer product changes, so if you would like to change to the Signature Flagship, please call us."  I don't really see the need to do that, unless I was able to get the now expired 0% deal.  The fine print was pretty clear that BT requests needed to be accepted by 11/1...  We'll see what I think in the morning when I am more away.  lol

I'll gush a bit more over in Approvals, but thanks to you guys for nudging me to keep going with a second recon attempt!

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A big congratulations to you!!! And what a limit. You're recon really paid off!!!! Yaaay!!!!! Now, I know the proper way to recon if I ever need to!!!!! 

[CreditInspired]

Confratulations OP! I really enjoyed reading this entire thread and learned a lot from everyone who kept posting. This is exactly why I love the MyFICO forum.

[Anonymous]

Congrats Dalmus! Gorewards is probably your best option considering that you can get the promo! Enjoy your new SL!

[UncleB]

New thread in 'Credit Card Approvals':  http://ficoforums.myfico.com/t5/Credit-Card-Approvals/Another-NFCU-Approval/m-p/4784861

[Dalmus]

 So I may have screwed myself out of the 0% balance transfer offer.

 When I first applied for the Flagship, I included two balance transfers in the application process, and of course was denied.  As part of the reconsideration, I reapplied for the goRewards and didn't bother putting any BTs in as part of the application because after being denied the Flagship, I expected to get a $1,000 - $2,000 limit.

 As I was online today scheduling a balance transfer, I noticed fine print on the botton of the BT form that "All balance transfers are treated as cash advances.... The Annual Percentage Rate for balance transfers is the same as purchases."  Which is slightly confusing.  On all my other cards, cash advances have a different APR than purchases, regardless of any purchase APR promotions.  For NFCU, they say cash advances "are subject to a variable APR that is up to 2% higher than your variable purchase APR, not to exceed 18% APR."

 Does this mean that because I have 6 months of 0% APR on purchases, my BT will still be at 0%?  Or will it be at 0+2% because its a cash advance?  Or will it be at 18% because its 2% above my "normal" APR?

 I have a secure message in asking this question, of course, but I was wondering if any of you others have any insight while I bite my nails and wait for their reply?

[Anonymous]

From my experience and what the chat agent said to get the Promo APR it has to be listed on the application. On the topic of future balance transfers, they said Balance transfers are treated like cash advances in that the APR is charged from the date of the transfer with NO grace period. Also never ever do a cash advance on the NFCU cards you can write yourself a convenience check and only be charged your regular APR rather than the 2% higher rate for cash advances. Still a good approval if you can get the 20,000 bonus points. 

[Dalmus]

I'm REALLY liking NFCU.

They told me as an exception they would honor the 0% balance transfer offer for me, but I needed to call and do it over the phone.

I called up, and the first lady I talked to made it a point to welcome me as a new member, then transferred me to a VERY pleasant lady who verified that I could get the 0%, and happily took down the information for the three cards I wanted to transfer.

She said nothing is done until after a 7 day hold on new accounts, but after that, the transfers would be complete in 7-10 days.

I can honestly say that it was the most efficient and friendly call I've ever had with a financial institution.  That's not to say I've had PROBLEMS with others, but this stands out as friendly.

Thanks again for pushing me to recon a second time!

[morgacj2004]

So I screwed up and did not realize the Flagship bonus period expired 10/31.  My wife was going to apply as her first Navy card.  I guess we will have to wait for the next promo. 

[Dalmus]

The goRewards has a 20,000 point bonus on $3000 spend within 90 days of opening until 11/30.

[morgacj2004]

Already have that card working on dos do right now.