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Need a new bank + Auto loan & CC in future. Advice?

paintball94
Regular Contributor

Re: Need a new bank + Auto loan & CC in future. Advice?

Stellar,

Thanks for the advice. 

 

My strategy is to use CC's to:

 

1. Build up my credit history/score to be able to finance an automobile, home, etc. with a very-low interest rate in the future.

2. Use my credit cards instead of my debit just for rewards

 

I always pay down my balances to 7% a couple days before the statement is put out, and I always pay the entire balance in full right after the statement so I don't get charged interest (plus I have auto-pay set up just in case).

 

I only use money that I know I have in my checking account, which makes using my CCs basically like using my debit card, but with rewards and a payment date. I really would like to change over to NFCU for their rates, and their generosity with credit limits, and accesibility to ATMs, etc.

 

I am 22, and studying Finance at one of the best programs in the US. Just trying to take advantage of the "system" and get the best deals to set myself up with for the future.

 

 

 

AMEX Cash Magnet (01/17) - $27k
Capital One QS (06/16) - $1.35k
Chase Sapphire Reserve (02/18) - $14.4k
Discover It (03/17) - $4.4k


FICO: EX - 772, TU - 772
Message 11 of 25
Gmood1
Community Leader
Super Contributor

Re: Need a new bank + Auto loan & CC in future. Advice?

A lot of these CUs are part of a CO-OP. Basically their linked. You can walk in a CU you're not a member of and deposit or withdraw money as if you banked with them.

Penfed is the best of the two for auto loans. Rates are better.


My most prized tradeline.
Message 12 of 25
paintball94
Regular Contributor

Re: Need a new bank + Auto loan & CC in future. Advice?

Does a Fidelity CMA card charge you for foreign transaction fees?

AMEX Cash Magnet (01/17) - $27k
Capital One QS (06/16) - $1.35k
Chase Sapphire Reserve (02/18) - $14.4k
Discover It (03/17) - $4.4k


FICO: EX - 772, TU - 772
Message 13 of 25
Gmood1
Community Leader
Super Contributor

Re: Need a new bank + Auto loan & CC in future. Advice?

Nope..It doesn't. You mean the Fidelity debit card?

I'm thinking ATM fees.



My most prized tradeline.
Message 14 of 25
paintball94
Regular Contributor

Re: Need a new bank + Auto loan & CC in future. Advice?

Yes, the CMA. I have family and friends whom I visit in Eastern Europe and wouldn't mind a debit card that doesn't charge foreign transaction fees or ATM fees.

 

I'm doing research on opening up an account with NFCU or PenFed for checking, a CC, and a future car loan (2-3 yrs), and possibly opening up a Fidelity CMA to transfer money to when I'm overseas so I don't get ripped off on ATM fees. No foreign transaction fees work well into that as well. 

 

 

AMEX Cash Magnet (01/17) - $27k
Capital One QS (06/16) - $1.35k
Chase Sapphire Reserve (02/18) - $14.4k
Discover It (03/17) - $4.4k


FICO: EX - 772, TU - 772
Message 15 of 25
Gmood1
Community Leader
Super Contributor

Re: Need a new bank + Auto loan & CC in future. Advice?


@paintball94 wrote:

Yes, the CMA. I have family and friends whom I visit in Eastern Europe and wouldn't mind a debit card that doesn't charge foreign transaction fees or ATM fees.

 

I'm doing research on opening up an account with NFCU or PenFed for checking, a CC, and a future car loan (2-3 yrs), and possibly opening up a Fidelity CMA to transfer money to when I'm overseas so I don't get ripped off on ATM fees. No foreign transaction fees work well into that as well. 

 

 


I'd open an account with both. There are no one shot one kill CUs or Banks I know of. Use them all to your advantage.



My most prized tradeline.
Message 16 of 25
paintball94
Regular Contributor

Re: Need a new bank + Auto loan & CC in future. Advice?

I only have about 7 months of credit history. Do you think that would hurt my process of getting a checking account and gettting a credit card with NFCU?

 

FICO 688; CK Scores 690, 689

7% Util

100% On Time

0 baddies

7 mo credit history (AAoA 5 mo)

2 Accounts (1 of which is Student Loan)

1 HP

 

 

AMEX Cash Magnet (01/17) - $27k
Capital One QS (06/16) - $1.35k
Chase Sapphire Reserve (02/18) - $14.4k
Discover It (03/17) - $4.4k


FICO: EX - 772, TU - 772
Message 17 of 25
Gmood1
Community Leader
Super Contributor

Re: Need a new bank + Auto loan & CC in future. Advice?

My step daughter had short history and got an account and CC with Navy. I can't remember if the same applies to Penfed. Being they are major competitors. I assume it would be the same.

Pull your FICO 8 scores for a $1 www.creditchecktotal.com .



My most prized tradeline.
Message 18 of 25
paintball94
Regular Contributor

Re: Need a new bank + Auto loan & CC in future. Advice?

Are there fees for transferring funds from NFCU or let's say an Australian bank account over to the Fidelity CMA?

AMEX Cash Magnet (01/17) - $27k
Capital One QS (06/16) - $1.35k
Chase Sapphire Reserve (02/18) - $14.4k
Discover It (03/17) - $4.4k


FICO: EX - 772, TU - 772
Message 19 of 25
CreditCuriosity
Moderator

Re: Need a new bank + Auto loan & CC in future. Advice?


@Gmood1 wrote:

Nope..It doesn't. You mean the Fidelity debit card?

I'm thinking ATM fees.


No ATM fees are reimbursed as well.  Whether country side or out of country

Message 20 of 25
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