APPROVED -- NFCU cashRewards Visa

[jenrette]

Filled out the application online Saturday, 2/20 and was approved today 2/23. EQ: 725?

After the inquiry posted on my credit report Score Watch said my EQ bumped to a 733.

"Congratulations! Based on your creditworthiness, you have been approved for a cashRewards Visa credit card. Your new credit line will be $6,500.00. Your APR will be prime plus 7.4%. You should receive your new card(s) in 7-10 normal mail delivery days." 

[lkcrew426]

Congrats! I will have to give this a try.

[jenrette]

NFCU is santa claus, contacted a few friends on facebook within the hour. Both said they got approved as well, one for 7k and the other 10k. First friend said they pulled his and he had a 774 but he had a pretty bare credit report, he was 19. The other was 24. We are all active duty though, I don't know if this makes a difference.

Message Edited by jenrette on 02-23-2010 06:03 PM

[haulingthescoreup]

Navy is good about taking care of active duty personnel.

Treat these cards like they're made of the thinnest crystal. Don't be late, don't go overlimit, don't charge anything that you don't have the money in the bank to pay off immediately, just in case. (Start an emergency savings fund just for credit, if you don't have one already.) You'll be rewarded with time --if you treat them well, they will definitely return the favor.

Also, you and your fellow active duty should join USAA now. Get a $5 renter's insurance policy to get in their system. They're not nearly as generous right out of the gate as Navy is, but they reward members with long histories, and they will be a great resource for you on down the road.

[jenrette]

I intend to. USAA has the technology but is no where as near generous. They are too conservative as far as I'm concerned. They are ALMOST a credit union, not quite though. Federal savings bank isn't the same thing. I use them for insurance, and that is about all for right now - oh and to deposit checks with phone and scanner. Long live CU's

[haulingthescoreup]

You might be surprised by USAA over time. I'm up to a total of $37K on CC CL's, a $50K HELOC (could have gotten more, but didn't want/ need it), plus the usual checking, savings, insurance, MMF, Roth stuff. They've never turned me down for anything.

Different banks work at different stages of our lives. Since you're already on their lists, that's all you need for now. One day they might fit better into your life. I'm all about finding options, signing up for them, and keeping them open.

[669]

Congrats!!!!!!!!!!!!!!!  Also, thank you for your service!

[jenrette]

Speaking of options do you ever use bankaholic? They list top APY% for banks and update daily. I have signed up for a few MMA accouts and play the numbers game from time to time and transfer the savings if it dips too low behind the others.

http://www.bankaholic.com/money-market/

[Anonymous]

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@haulingthescoreup wrote:
Navy is good about taking care of active duty personnel.

Treat these cards like they're made of the thinnest crystal. Don't be late, don't go overlimit, don't charge anything that you don't have the money in the bank to pay off immediately, just in case. (Start an emergency savings fund just for credit, if you don't have one already.) You'll be rewarded with time --if you treat them well, they will definitely return the favor.

Also, you and your fellow active duty should join USAA now. Get a $5 renter's insurance policy to get in their system. They're not nearly as generous right out of the gate as Navy is, but they reward members with long histories, and they will be a great resource for you on down the road.

---

If you do have a car....get auto insurance....that is USAA's traditional bread and butter, and they are almost always a better price for equal or better protection than the competition.  If no car, get the renter's insurance or valuable property policy (to cover guns, jewelry, etc).  Open a savings/checking (free) too.  USAA likes "depth of relationship" meaning you have/use multiple products and services with them.

[Anonymous]

USAA gave me the most credit, next to Navy.

Navy gave me $25k Visa, $15k Nav, $5k MC.

USAA gave me $20k MC and $20k AMEX.

USAA rewards heavily based upon length of membership and depth of relationship.  When USAA gave me this credit was at the very tale end of a long app spree in which I had 10-11 new accounts with high CL's (I had obtained in past 6 months Alliant $10k, PenFed $10k, Navy $25k & $15k, PSECU $10k & $10k, CapOne $3k, Discover $2k, CareCredit $14k and Rooms to Go $6.5k.  AFTER all of these recent new accounts, USAA stepped up and gave me MC and AMEX at $20k each, instant approval.

So, IME, USAA was very generous even when compared to all the CU's I had gone with.