@Anonymous wrote:
@Anonymous wrote:
Of course, I am mostly needing to garden but I have a feeling the market is going straight towards interest hikes and lenders tightening up. The Fed will probably start raising rates each month soon which will hurt homeowners whose ARM's are coming up...lots of defaults in the near futureMaybe (per the NFCU thread, so I won't repeat the HP vs. SP debate here) I should move right now to not just join but apply for a CC? I'm really on the fence about this - I want to improve my profile as much as possible over the fall but I don't want to miss my best chance if things are going to be tightening up significantly not just at Navy but elsewhere.
Everybody is tightening up right now. About a year ago navy was giving everyone a CLI or new card at 91 days, now they're requiring 5-6 month's for many people. Even cap1 has cut credit limits and is now declining CLIs and new cards for too many inquiries. That's just 2 examples, but other banks are doing the same.
@Anonymous wrote:
@Anonymous wrote:
One thing is for certain -NFCU is not tight right now. I would say go for it. Personally, I have 49k in total revolving with them in just 3 months of membership. You may suffer more HPs with Navy but at the same time, I got a 25k SL on Flagship with one pull....cant do that with other issuers.I'll think on it. I'm most inclined toward the cashRewards, but I was thinking of possibly applying for others - the More Rewards AMEX, Go Rewards MC and Flagship - if I can use the same HP for each.
While stranger things have happened, you can expect each and every application with NFCU to be a separate HP. There's a chance the bureau might combine HPs from the same day, but it's not guaranteed.
A common plan of attack is to apply for whatever card has the sign up bonus (if you're bonus chasing) then later PC to the card you want to keep. You can freely PC between any of NFCU's MC and V products, but not the Amex.
Also, if you PC NFCU will even adjust your APR to reflect the rewards (or lack thereof) for your new product. For example, if you have the Go Rewards at the lowest APR and change to a Platinum, you can expect for your APR to be lowered to the lowest rate available on the Platinum, etc. Very member-friendly. 
@UncleB wrote:
@Anonymous wrote:
@Anonymous wrote:
One thing is for certain -NFCU is not tight right now. I would say go for it. Personally, I have 49k in total revolving with them in just 3 months of membership. You may suffer more HPs with Navy but at the same time, I got a 25k SL on Flagship with one pull....cant do that with other issuers.I'll think on it. I'm most inclined toward the cashRewards, but I was thinking of possibly applying for others - the More Rewards AMEX, Go Rewards MC and Flagship - if I can use the same HP for each.
While stranger things have happened, you can expect each and every application with NFCU to be a separate HP. There's a chance the bureau might combine HPs from the same day, but it's not guaranteed.
A common plan of attack is to apply for whatever card has the sign up bonus (if you're bonus chasing) then later PC to the card you want to keep. You can freely PC between any of NFCU's MC and V products, but not the Amex.
Also, if you PC NFCU will even adjust your APR to reflect the rewards (or lack thereof) for your new product. For example, if you have the Go Rewards at the lowest APR and change to a Platinum, you can expect for your APR to be lowered to the lowest rate available on the Platinum, etc. Very member-friendly.
Thanks for telling me that, I wouldn't have liked to be blindsided by multiple HP's. In that case, I'd probably best go for the cashRewards; the Flagship's 30K bonus points offer is nice but I'd have to put $3K on the card in the first three months and I have trouble thinking of what I could spend $3K on in that period of time (unless my car goes really bad all of a sudden - knock on wood!!) The cashReward's $100 on $1k 3-month spend is, to me, much more attainable. Being able to PC freely from cashRewards to Flagship (or Go Rewards) is nice, and something neither Penfed nor Apple FCU has; when I ask them about PC, they tell me I have to file a new application with them and open a new account.
@Anonymous wrote:
@UncleB wrote:
@Anonymous wrote:
@Anonymous wrote:
One thing is for certain -NFCU is not tight right now. I would say go for it. Personally, I have 49k in total revolving with them in just 3 months of membership. You may suffer more HPs with Navy but at the same time, I got a 25k SL on Flagship with one pull....cant do that with other issuers.I'll think on it. I'm most inclined toward the cashRewards, but I was thinking of possibly applying for others - the More Rewards AMEX, Go Rewards MC and Flagship - if I can use the same HP for each.
While stranger things have happened, you can expect each and every application with NFCU to be a separate HP. There's a chance the bureau might combine HPs from the same day, but it's not guaranteed.
A common plan of attack is to apply for whatever card has the sign up bonus (if you're bonus chasing) then later PC to the card you want to keep. You can freely PC between any of NFCU's MC and V products, but not the Amex.
Also, if you PC NFCU will even adjust your APR to reflect the rewards (or lack thereof) for your new product. For example, if you have the Go Rewards at the lowest APR and change to a Platinum, you can expect for your APR to be lowered to the lowest rate available on the Platinum, etc. Very member-friendly.
Thanks for telling me that, I wouldn't have liked to be blindsided by multiple HP's. In that case, I'd probably best go for the cashRewards; the Flagship's 30K bonus points offer is nice but I'd have to put $3K on the card in the first three months and I have trouble thinking of what I could spend $3K on in that period of time (unless my car goes really bad all of a sudden - knock on wood!!) The cashReward's $100 on $1k 3-month spend is, to me, much more attainable. Being able to PC freely from cashRewards to Flagship (or Go Rewards) is nice, and something neither Penfed nor Apple FCU has; when I ask them about PC, they tell me I have to file a new application with them and open a new account.
Sounds like a solid plan. PCing to the Flagship from another (non-Amex) card isn't a problem, you'll just need to have a minimum $5k credit line which is required for the Flagship.
We usually tell people if there's any doubt about getting a $5k CL to app for another card anyway, since the Flagship will decline if you're not eligible for $5k, while the Cash Rewards or Go Rewards would be approved for a lower CL and you could always work up to $5k in a few months (then PC to Flagship). Several ways to skin the cat... 