@Society1 wrote:I have a Transunion 668 & experian 706.. I was thinking of navy federal credit card or Amex gold card can someone help & tell me which would be good and my chances of getting approved
Navy usually HP TransUnion for new card applications. They've been known to use EQ as an alternate.
All Navy cards are great. It all depends on your spend. It is not recommended to choose the Flagship as a 1st card with Navy.
Besides your FICO score, they factor in your income, DTI Debt To Income. How is your credit health in that regards?
@Society1 wrote:Credit health is excellent 2 $5,000 accounts w/ both balances at 0
Call into Navy and see if you have any prequal. Prequal is also available online depending on broswer being used.
Also, it's recommended to report a small balance e.g. $5-10 to avoid the all zero score penalty.
@Society1 wrote:Thanks for that heads up never knew I could get a penalty for that !! Appreciated
Seek AZEO All Zero Except One card reporting a small balance. It may be penalizing you ~15-20 points for all zero.
@Society1 wrote:I have a Transunion 668 & experian 706.. I was thinking of navy federal credit card or Amex gold card can someone help & tell me which would be good and my chances of getting approved
Amex is tightening their belt right now due to the current economic situation, not sure if their prequal site is reflecting that yet but IMO you'd have a better chance with NFCU but check first as well to see if you're pre-qualified.
Ignoring the coronavirus situation, since I don't know first-hand how that is affecting things:
I think you have a pretty good chance to get either if no issues aside from score. By which I mean, I was denied for Amex Gold with higher scores than you've got, but I had weird negative X factors (mainly, very young profile and massive credit-seeking behavior). I then surprisingly got the card, which is a whole strange and lengthy story I won't get into here. I have seen people on this board get approved for Amex Gold with a 650 or lower. And, NFCU is generally considered a soft touch.
That said, the options are pretty different, so it's going to depend a lot on your spend. Amex Gold has great rewards for groceries and dining out - but, those rewards come in the form of MRs, which are best redeemed for travel. Do you spend a lot on groceries and dining out? Do you travel a lot, or want to travel more? Positive answers made this card a better deal, but even at that, it does have a $250 annual fee. No NFCU card has an AF of more than $50 (Flagship).
If in doubt, I would suggest the option without the AF unless you really know it fits your spend. In this case, I'd suggest going with NFCU for now. You won't regret, and you can always pick up an Amex Gold in the future. JMO, good luck!
