Which Navy Federal card - AMEX More Rewards, VISA Flagship Rewards, or..... both?!?

[StevieK]

I've been a Navy Federal member for a few years now with direct deposits going to them, checking and savings accounts, etc. Was going to buy a house so put off getting credit cards for a while, but since I didn't find what I wanted before interest rates got stupid, I'm looking at a couple of NFCU cards.

I like the AMEX More Rewards for the 3% groceries and restaurants. Discover sometimes has 5% cash back on different categories and vendors (for example, right now they have 5% CB on groceries for the first quarter of 2023), but when that rolls off I'm back to 1.5% for groceries on CapOne or Chase Visa. It would be nice to double that with the AMEX card for the balance of the year.

I like the VISA Flagship Rewards for the 2% on "everything else." Right now my CapOne MC or Chase Visa are my "everything else" cards, but they only pay 1.5% - it would be nice to add .5% to that.

Would there be a reason to apply for one first over the other? Should/can I apply for both at the same time? If not, how long should I space them out (i.e. how long to wait after applying for the first card before applying for the second)?

I'm between 780 & 820 on FICO 8, between 790 & 825 on FICO 9.

[Anonymalous]

The More Rewards is a really good card. The 3% categories are almost perfect for a lot of middle America, covering groceries, gas, and dining. Amex acceptance in the US is very high among the major retailers and chains so that's never become an issue, it has a bunch of Amex network benefits (concierge, secondary collision damage waiver, a variety of purchase protections including extended warranty, returns, and even best value protection), and it also qualifies for some Amex offers (I got $50 back at Dell and $50 back at HBOMax over the holidays). As usual with Navy cards, it has no FTF (though Amex isn't as good overseas), no balance transfer fees, and even withdrawing cash is cheap (not that it should ever come up, but just in case). Also shared with the other Navy cards, you can ask for a CLI after 3 months, then every 6 months thereafter; and an APR reduction every 12 months.

The biggest downside is the $50 redemption minimum. That requires roughly $1667 in spend in the 3% categories, which honestly wasn't much of an issue when I was using it for all of them. But now that I've gotten a few 5% back cards that supplant some of those categories, it's taking longer. I think the More Rewards is an excellent card in a 2-3 card setup, but as you collect more cards, it's more likely to be sidelined, and that 5,000 point min becomes steeper. Though it also has no cap, so if you're a high spender, it'll start to look more attractive again.

I don't have the Flagship, but it pairs very well with the More Rewards. So does the Cash Rewards, for that matter.

Though the sign up bonus at the moment is terrible. I got my More Rewards in late 2021, and the SUB was $250 (25,000 points). Right now, it's just a balance transfer offer. Unless the economy really tanks, there's a decent chance it'll jump up to at least $200 sometime this year. The Flagship SUB is better, but again it might hit 40,000 or 50,000 points.

[OmarGB9]

Probably best to start with the MoreRewards, only because Flagship doesn't typically get approved for a first card. Although, your scores look pretty good, so who knows. 

As far as timing between apps, Navy only allows one every 91 days, up to a max of 3 cards.

[keekers]

Another vote for the More Rewards card here. Flagship's fee doesn't do anything for me at the moment, even with the perks it comes with. I use the MR card regularly.

[StevieK]

Thanks guys - I got the AMEX More Rewards card with a $25,000 Credit Limit.

I appreciate your input!! 

So, it's 91 days before I can apply for the Flagship Rewards Visa, is that correct?

[OmarGB9]

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@StevieK wrote:

Thanks guys - I got the AMEX More Rewards card with a $25,000 Credit Limit.

I appreciate your input!! 

So, it's 91 days before I can apply for the Flagship Rewards Visa, is that correct?

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91 days and 3 FULL statements (i.e. 25 day+ billing cycles).

[StevieK]

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@OmarGB9 wrote:

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@StevieK wrote:

Thanks guys - I got the AMEX More Rewards card with a $25,000 Credit Limit.

I appreciate your input!! 

So, it's 91 days before I can apply for the Flagship Rewards Visa, is that correct?

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91 days and 3 FULL statements (i.e. 25 day+ billing cycles).

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Thanks - I appreciate it.

I think that even when I become eligible, I won't be applying for the Visa Flagship Rewards card.  I like having zero cards with annual fees, and I think I'm going to continue with that theme. 

[gingerflower]

Congratulations on your Nfcu more rewards cc a d a nice SL. 👍

[JoeRockhead]

Great SL and approval, congratulations on your More Rewards! 

[KH-OrnEsh]

This thread is now closed. Feel free to start a new thread in Credit Card Approvals if you wish to do so. Thank you!