Which NFCU for my second card?

onward2018 · ‎06-17-2023

Backstory:

- Opened my NFCU account 4 months ago.

- Transfered 25,000 over to that account - 21k savings, 4k checking

- Approved for $500 cash rewards, regularly use it, pay it off, etc. Hit the $200 cash back offer in 60 days.

- Credit score is 685

- Total open CLs = 17,000, no balances ( a lot of store cards I dont use too much, 2 capital one, 2 discover and a AMEX)

My preapproval shows all cards, which I am not relying on. I waited to do the 3/90 NFCU rule, which is this week for me. Which card would you apply for as the second card? I am hoping for the high CL and then go in and appy for a CLI on my current $500 card.

GZG · ‎06-17-2023

@onward2018 wrote:
Backstory:
- Opened my NFCU account 4 months ago.
- Transfered 25,000 over to that account - 21k savings, 4k checking
- Approved for $500 cash rewards, regularly use it, pay it off, etc. Hit the $200 cash back offer in 60 days.
- Credit score is 685
- Total open CLs = 17,000, no balances ( a lot of store cards I dont use too much, 2 capital one, 2 discover and a AMEX)

My preapproval shows all cards, which I am not relying on. I waited to do the 3/90 NFCU rule, which is this week for me. Which card would you apply for as the second card? I am hoping for the high CL and then go in and appy for a CLI on my current $500 card.

MoreRewards Amex, get 3x categories, get a great $250 SUB currently, more likley to be approved and more likely to be more useful than the flagship

go rewards/platinum need revamps imo, not worth going for

Starting FICO 8:

Current FICO 8:

onward2018 · ‎06-17-2023

Okay this is good information. My Delta AMEX has been stuck at its CL for 16 months, now. Do they use the same approval?

@GZG wrote:
@onward2018 wrote:
Backstory:
- Opened my NFCU account 4 months ago.
- Transfered 25,000 over to that account - 21k savings, 4k checking
- Approved for $500 cash rewards, regularly use it, pay it off, etc. Hit the $200 cash back offer in 60 days.
- Credit score is 685
- Total open CLs = 17,000, no balances ( a lot of store cards I dont use too much, 2 capital one, 2 discover and a AMEX)

My preapproval shows all cards, which I am not relying on. I waited to do the 3/90 NFCU rule, which is this week for me. Which card would you apply for as the second card? I am hoping for the high CL and then go in and appy for a CLI on my current $500 card.
MoreRewards Amex, get 3x categories, get a great $250 SUB currently, more likley to be approved and more likely to be more useful than the flagship

go rewards/platinum need revamps imo, not worth going for

GZG · ‎06-17-2023

@onward2018 wrote:
Okay this is good information. My Delta AMEX has been stuck at its CL for 16 months, now. Do they use the same approval?
@onward2018 wrote:
Okay this is good information. My Delta AMEX has been stuck at its CL for 16 months, now. Do they use the same approval?

The underwriting between American Express and Navy Federal Credit Union is completely seperate and they have nothing to do with each other.

The MoreRewards card uses Amex's payment network (much like if it was a Visa or a Mastercard), but American Express doesn't know or care or influence your approval or credit line for the card.

Navy Federal will determine your credit limit/approval, not American Express.

And typically, I would imagine Navy is more generous and more willing to increase your SL for the second card and 3x your CL for your first card.

Starting FICO 8:

Current FICO 8:

Jordan23ww · ‎06-17-2023

I think the best thing would be to take a look at all of their cards and pick the one that will benefit you the most. See what you like/don't like about them. You probably can get any of them now so it's a matter of what will be the best fit for you now.

FireMedic1 · ‎06-18-2023

Best bet. No apps for a while. Keep applying in the 600's and you'll stay in the 600's. Let your file age and once you pass 700+. Things become much easier and better choices come alive.

BK Free Aug25

Anonymalous · ‎06-19-2023

@FireMedic1 wrote:
Best bet. No apps for a while. Keep applying in the 600's and you'll stay in the 600's. Let your file age and once you pass 700+. Things become much easier and better choices come alive.

This. I understand the urge to move more quickly, but you might be better off just waiting a while, @onward2018.

Though when you do jump, it depends on your priorities. From a cashback setup, the Cash Rewards synergizes best with the More Rewards, but if you already have those categories covered with your other cards, it could be redundant. The biggest drawback of the More Rewards is the $50 redemption min, which isn't a big issue if you have high spend or use as your primary driver for all the 3% categories, but if you're a low to moderate spender and have some of those categories covered with other cards, it starts taking longer to hit the cap. And a positive feature that's often overlooked: The More Rewards qualifies for some Amex offers (have to activate them through Amex's page).