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NFCU is looking at increasing cashRewards to 2%

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Super Contributor

NFCU is looking at increasing cashRewards to 2%

So I just got off the phone with Navy Federal because I PC’d my More Rewards back to a cashRewards and at the end of the call, she asked me if I was happy with Navy Federal and I told her the only thing they could do better is give 2% on the cashRewards like many other credit unions do and she said that they are actually talking about doing that right now as well as revamping their points card programs. 

 

Take it for what it is (CSR info can go either way as we all know) but since we had a member here mention they got a survey about NFCU cards somewhat recently that seemed to suggest new products or changes to existing ones (they didn’t share specifics since they were asked to keep it confidential), I decided it was worth sharing. 

 

If NFCU does this, they’ll get the slot in my wallet behind my Amazon Store Card. I really hope that it happens!


Scores 1/2019:
Scores 9/2019:

Hover over my cards to see my limits!
Goal cards: Does it look like I really need any more cards? My goal is to garden until 2/2020.
Message 1 of 9
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Senior Contributor

Re: NFCU is looking at increasing cashRewards to 2%

I just don't have enough misc spend to make it worthwhile to get anything 2% vs the 1.5% that I already have. It's only $5 per $1K spend extra.

Message 2 of 9
Super Contributor

Re: NFCU is looking at increasing cashRewards to 2%


@kilroy8 wrote:

I just don't have enough misc spend to make it worthwhile to get anything 2% vs the 1.5% that I already have. It's only $5 per $1K spend extra.


Yeah I am just going back to cashRewards because it takes too long to get the cash back for the More Rewards. I finally hit enough for a $25 Amazon gift card this morning and cashed that out. 6 months to get there. 

 

I use Member Deals so it makes more sense to get instant cash back at .5% higher than stack points for months on end. $50 for cash redemption is just too high of a target. 


Scores 1/2019:
Scores 9/2019:

Hover over my cards to see my limits!
Goal cards: Does it look like I really need any more cards? My goal is to garden until 2/2020.
Message 3 of 9
Super Contributor

Re: NFCU is looking at increasing cashRewards to 2%

The last suvery I did from NFCU, I also suggested the 2%, especially since their main competitor, RBFCU, offers a 2% cashback card. 






Message 4 of 9
Established Contributor

Re: NFCU is looking at increasing cashRewards to 2%

Although I have claimed retirement from any further cards, I would apply if they made it 2%.

 FICO 8
Message 5 of 9
Super Contributor

Re: NFCU is looking at increasing cashRewards to 2%


@Adkins wrote:

The last suvery I did from NFCU, I also suggested the 2%, especially since their main competitor, RBFCU, offers a 2% cashback card. 


As does PenFed which is another strong competitor for NFCU. 

 

I really hope they do it. It would drive a lot of business to them. Now that Citi has nerfed all their benefits, there would be zero benefit to having a DC instead of a cashRewards if they keep the structure the same as it is now (cash back when the purchase posts). 


Scores 1/2019:
Scores 9/2019:

Hover over my cards to see my limits!
Goal cards: Does it look like I really need any more cards? My goal is to garden until 2/2020.
Message 6 of 9
Valued Member

Re: NFCU is looking at increasing cashRewards to 2%

NFCU's Flagship ($49 AF - first year free) is 3% travel, 2% on everthing else (w/50K points bonus w/$4k spend in first 90 days)

https://www.navyfederal.org/loans-cards/credit-cards/offers/flagship-visa-signature.php

 

@Overmedicated wrote:

Although I have claimed retirement from any further cards, I would apply if they made it 2%



Message 7 of 9
Valued Contributor

Re: NFCU is looking at increasing cashRewards to 2%

I also received the survey and suggested the same thing. They need a 2% card that isn’t the Flagship. If NFCU does it, they would get a spot right after Discover in my wallet and probably #1 after Disco’s first year ends.


Message 8 of 9
Super Contributor

Re: NFCU is looking at increasing cashRewards to 2%


@TwoWheels wrote:

NFCU's Flagship ($49 AF - first year free) is 3% travel, 2% on everthing else (w/50K points bonus w/$4k spend in first 90 days)

https://www.navyfederal.org/loans-cards/credit-cards/offers/flagship-visa-signature.php

 

@Overmedicated wrote:

Although I have claimed retirement from any further cards, I would apply if they made it 2%


That’s fine and all but there are drawbacks. There’s the AF for one but two, like the More Rewards and Go Rewards, the Flagship has a $50 minimum cash back redemption. If you don’t travel (I don’t), the Flagship doesn’t ever even out once you take the SUB out of the equation. 


Scores 1/2019:
Scores 9/2019:

Hover over my cards to see my limits!
Goal cards: Does it look like I really need any more cards? My goal is to garden until 2/2020.
Message 9 of 9
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