Read this BEFORE applying for a NFCU Credit Card!

Anonymous · ‎12-01-2016

Alright FICO fam, so I see all of the posts about NFCU approvals and how many of you were successful at joining through Navy League, that is great but read this before you apply.

ALWAYS apply for the card that they have a sign up bonus for. For example even though you may want the Go Rewards card, you should still apply for the Cash Rewards card, as it will give you $200 if you meet the minimum spend. The reason you will not apply for the Go Rewards right away is because you will NOT get a sign up bonus of any kind*.

Now you have the Cash Rewards but you wanted the Go Rewards! So you followed my original advice and applied for the card that had the sign up bonus, great news you were approved and got your $200 free dollars. You still want the Go Rewards so you place a phone call to 888-842-6328 and talk to the nice folks in credit card servicing who change your card to the Go Rewards card with no hard pull or damage to your credit or your credit limit. It really is that simple, you can product change to any card that NFCU offers! So by spending a little extra time you can in the end up $200 richer and with the credit card you originally wanted. DON'T miss out on a sign up bonus just because the card you want is not being featured!

If you cannot meet the minimum spend then app for the card you desire.

* = sign up bonus is relevant for December 2016

Anonymous · ‎12-01-2016

@Anonymous wrote:
Alright FICO fam, so I see all of the posts about NFCU approvals and how many of you were successful at joining through Navy League, that is great but read this before you apply.

ALWAYS apply for the card that they have a sign up bonus for. For example even though you may want the Go Rewards card, you should still apply for the Cash Rewards card, as it will give you $200 if you meet the minimum spend. The reason you will not apply for the Go Rewards right away is because you will NOT get a sign up bonus of any kind*.

Now you have the Cash Rewards but you wanted the Go Rewards! So you followed my original advice and applied for the card that had the sign up bonus, great news you were approved and got your $200 free dollars. You still want the Go Rewards so you place a phone call to 888-842-6328 and talk to the nice folks in credit card servicing who change your card to the Go Rewards card with no hard pull or damage to your credit or your credit limit. It really is that simple, you can product change to any card that NFCU offers! So by spending a little extra time you can in the end up $200 richer and with the credit card you originally wanted. DON'T miss out on a sign up bonus just because the card you want is not being featured!

If you cannot meet the minimum spend then app for the card you desire.

* = sign up bonus is relevant for December 2016

Sounds like sound advice! I will paralell from that and say to those who apply for Bank of America when the cash rewards is not offering an increased sign on bonus, you can apply for the regular Bank Americard 18 month no interest offer and easily product change to the Cash Rewards. I have seen a few cases where they did not get the bonus, but usually you can get the $100 after a call or two, post conversion. My better half did that per my suggestion, and not only went from mastercard to world mastercard, but was given the option to PC to the Cash Rewards or Travel Rewards and get the bonus. So I guess you'd go for the TR if you are a traveler. And still enjoy that 18 month intro period! As always YEMV.

I have talked with a few of my closer myfico friends here about NFCU. I am very fond of everything they do for our community. Aside from cutting the leash for those on the cusp of good credit and issuing them a great limit, thats it. I wish they'd offer a card with a lower ongoing rate for folks without rewards. The platinum card does go as low as 8.24 which is certainly good (anyone know the scoring requirements for this rate and/or how they are with APR reductions?). But the fact it goes as high as 18 gives me pause. Still a win win for most here. Especially this post.

Now the question is, if I wanted the NFCU cash rewards bonus, would they allow a PC to the Platinum card? I would hope the would reduce the APR by 1.66 if approved at the 9.9

Anonymous · ‎12-01-2016

Yes they would allow the PC. The APR is a tier type ranking so if you have a 9.90 on the cash rewards, you would get 8.24 on the platinum.

Scupra · ‎12-02-2016

PC's are a breeze with NFCU

pizza1 · ‎12-02-2016

this is already common knowledge. Navy is great with PCing to any other card you want.

Anonymous · ‎12-02-2016

@pizza1 wrote:
this is already common knowledge. Navy is great with PCing to any other card you want.

Clearly it is not common knowledge for everyone, if you think it is not useful than don't read it and comment for no reason. I am sure someone will find it useful.

gdale6 · ‎12-02-2016

There is a comment that is approaching non FSR and flaming, everyone has a right to comment on the post as long as its on topic and respectful. I thank you for your understanding on this.

Anonymous · ‎12-02-2016

I will say that I have the cashRewards card with a 11.9 APR and when I tried to PC to the Platinum card (which has the lowest APR offering of any of their cards) they were trying to give me a way higher APR. I didn't PC the card because I would then have no rewards and a higher APR which was a head scratcher because my scores had increase significantly since the time I had applied for the cashRewards. lol Anyway, that's just my two cents that PCing to another card doesn't always give you a lower APR. It's a YMMV thing, I suppose.

Anonymous · ‎12-02-2016

@Anonymous wrote:
I will say that I have the cashRewards card with a 11.9 APR and when I tried to PC to the Platinum card (which has the lowest APR offering of any of their cards) they were trying to give me a way higher APR. I didn't PC the card because I would then have no rewards and a higher APR which was a head scratcher because my scores had increase significantly since the time I had applied for the cashRewards. lol Anyway, that's just my two cents that PCing to another card doesn't always give you a lower APR. It's a YMMV thing, I suppose.

When did you try the PC?

CreditMagic7 · ‎12-02-2016

How is NFCU with lowering the APRs? Do they even bother to do that?

Reason being is on first approval this past summer they saddled my GoRewards approval with a ridiculous 17.74% APR.

I am one of those that have long rotated PIF to Revolve with cards which is paid off big time over the years but they don't leave me much ambition to use the nice limit they gave me with that silly an APR with my current scores and solid card camp, many with much better APR's then this one.

By comparison my newly minted Alliant CU Visa is still enjoying 18 Months 0% on purchase AND transfers.

After the promo is complete a low APR of 12%, which I will be requesting a reduction even on that by then

Guess this card will be mostly SD until something on that changes because I hope you all know that the FED is going to be raising rates and your interest rates on cards are going to go up too.

We work so hard with other good lenders who help up in bringing that element down to within acceptable levels only to have the FED jack things up again.