Hello. I've been using the Visa Signature Flagship Rewards card from Navy Federal (NFCU) as my daily card for the past two years or so. However, I recently was approved for AOD's VISA Signature card, so it is going to become my new daily card (NFCU's 3x points: travel, 2x points: all else vs. AOD's 3% cash back: all).
Rather than closing my NFCU account, I'm thinking about switching to a different card. However, I want to ensure that I won't be doing more harm than good before doing so.
First, I currently have about 40,000 reward points in my NFCU account. Do I need to redeem them before switching?
Second, NFCU's More Rewards AMEX is currently offering a promotion... "Earn 30,000 bonus points (a $300 value) when you spend $3,000 within 90 days of account opening." Would I be able to take advantage of that promotion by switching cards? Both NFCU cards appear to have the same point value ($0.01 per point), so I'm hoping so.
Lastly, I could keep my current NFCU card and continue to pay the $49 annual fee even though it is headed for the sock drawer. Similarly, the More Rewards AMEX would also be headed to the sock drawer after earning (hopefully) the 30,000 bonus points.
Any advice, suggestions, etc. would be greatly appreciated. Thank you!
Edit: I forgot to mention that I want to avoid a credit report inquiry by switching cards. 
@A-B wrote:Hello. I've been using the Visa Signature Flagship Rewards card from Navy Federal (NFCU) as my daily card for the past two years or so. However, I recently was approved for AOD's VISA Signature card, so it is going to become my new daily card (NFCU's 3x points: travel, 2x points: all else vs. AOD's 3% cash back: all).
Rather than closing my NFCU account, I'm thinking about switching to a different card. However, I want to ensure that I won't be doing more harm than good before doing so.
It would be better to product change the card, rather than close it. You keep the Credit Line and the history.
First, I currently have about 40,000 reward points in my NFCU account. Do I need to redeem them before switching?
I would cash them in before you switch. They probably will not carry over.
Second, NFCU's More Rewards AMEX is currently offering a promotion... "Earn 30,000 bonus points (a $300 value) when you spend $3,000 within 90 days of account opening." Would I be able to take advantage of that promotion by switching cards? Both NFCU cards appear to have the same point value ($0.01 per point), so I'm hoping so.
The 30,000 points is for a sign up bonus, only if you apply for a "NEW" card.
Lastly, I could keep my current NFCU card and continue to pay the $49 annual fee even though it is headed for the sock drawer. Similarly, the More Rewards AMEX would also be headed to the sock drawer after earning (hopefully) the 30,000 bonus points.
You would not earn the 30,000 points, unless you apply for the card and meet the required spend.
Any advice, suggestions, etc. would be greatly appreciated. Thank you!
Edit: I forgot to mention that I want to avoid a credit report inquiry by switching cards.
You most likely would not receive a HP for a product change.
Good Luck!
@A-B wrote:Hello. I've been using the Visa Signature Flagship Rewards card from Navy Federal (NFCU) as my daily card for the past two years or so. However, I recently was approved for AOD's VISA Signature card, so it is going to become my new daily card (NFCU's 3x points: travel, 2x points: all else vs. AOD's 3% cash back: all). Just as an aside, I wonder how long AOD will be able to offer 3% back. I do not mean to start a discussion or derail this thread...just musing.
Rather than closing my NFCU account, I'm thinking about switching to a different card. However, I want to ensure that I won't be doing more harm than good before doing so. NFCU allows product changes; you could change to a different card and then in the near future if you want to go back, you just have to ask.
First, I currently have about 40,000 reward points in my NFCU account. Do I need to redeem them before switching? You will need to use those before the product change (PC).
Second, NFCU's More Rewards AMEX is currently offering a promotion... "Earn 30,000 bonus points (a $300 value) when you spend $3,000 within 90 days of account opening." Would I be able to take advantage of that promotion by switching cards? Both NFCU cards appear to have the same point value ($0.01 per point), so I'm hoping so. No, the sign up bonus is only for new credit card accounts.
Lastly, I could keep my current NFCU card and continue to pay the $49 annual fee even though it is headed for the sock drawer. Similarly, the More Rewards AMEX would also be headed to the sock drawer after earning (hopefully) the 30,000 bonus points. It does not make sense to continue to pay an annual fee if a) you are no longer using it/getting benefit from it and b) using AODs cash back to pay the annual fee on the NFCU card you no longer use.
Any advice, suggestions, etc. would be greatly appreciated. Thank you! I am not sure what your credit looks like, but I would switch your NFCU card to their Platinum card. Their Platinum card offers an APR as low as 5.99% (if your credit qualifies) which is good to have around should you need to revolve a balance for a few months.
Edit: I forgot to mention that I want to avoid a credit report inquiry by switching cards.
Please let us know what you ultimately decided to do.
@A-B wrote:Hello. I've been using the Visa Signature Flagship Rewards card from Navy Federal (NFCU) as my daily card for the past two years or so. However, I recently was approved for AOD's VISA Signature card, so it is going to become my new daily card (NFCU's 3x points: travel, 2x points: all else vs. AOD's 3% cash back: all).
Rather than closing my NFCU account, I'm thinking about switching to a different card. However, I want to ensure that I won't be doing more harm than good before doing so.
First, I currently have about 40,000 reward points in my NFCU account. Do I need to redeem them before switching?
Second, NFCU's More Rewards AMEX is currently offering a promotion... "Earn 30,000 bonus points (a $300 value) when you spend $3,000 within 90 days of account opening." Would I be able to take advantage of that promotion by switching cards? Both NFCU cards appear to have the same point value ($0.01 per point), so I'm hoping so.
Lastly, I could keep my current NFCU card and continue to pay the $49 annual fee even though it is headed for the sock drawer. Similarly, the More Rewards AMEX would also be headed to the sock drawer after earning (hopefully) the 30,000 bonus points.
Any advice, suggestions, etc. would be greatly appreciated. Thank you!
Edit: I forgot to mention that I want to avoid a credit report inquiry by switching cards.
So applying fir a new card is moot and forget the SUB because you wont get a new card without a hp. Best option appears to be a pc. Just pc to a no AF card
@A-B wrote:Hello. I've been using the Visa Signature Flagship Rewards card from Navy Federal (NFCU) as my daily card for the past two years or so. However, I recently was approved for AOD's VISA Signature card, so it is going to become my new daily card (NFCU's 3x points: travel, 2x points: all else vs. AOD's 3% cash back: all).
Rather than closing my NFCU account, I'm thinking about switching to a different card. However, I want to ensure that I won't be doing more harm than good before doing so.
First, I currently have about 40,000 reward points in my NFCU account. Do I need to redeem them before switching?
Points do not carry over, I've tried in the past to "merge" them and was told it's a no go.
Second, NFCU's More Rewards AMEX is currently offering a promotion... "Earn 30,000 bonus points (a $300 value) when you spend $3,000 within 90 days of account opening." Would I be able to take advantage of that promotion by switching cards? Both NFCU cards appear to have the same point value ($0.01 per point), so I'm hoping so.
You won't get the SUB without applying for the card..
Lastly, I could keep my current NFCU card and continue to pay the $49 annual fee even though it is headed for the sock drawer. Similarly, the More Rewards AMEX would also be headed to the sock drawer after earning (hopefully) the 30,000 bonus points.
It's a 49 dollar AF not bad for what you'd get even though AOD is slightly better with cash back.
If you want to PC to something else then cash out your points (it can take a few hours to a day or so to credit to your chosen account)and find something that may meet your needs without the he AF.
Any advice, suggestions, etc. would be greatly appreciated. Thank you!
Edit: I forgot to mention that I want to avoid a credit report inquiry by switching cards.
You shouldn't get a HP to product change
This isn't necessarily answering your questions, but I have been told before I would lose my intro APR when converting to a new card, and both time's I've actually kept the intro APR.
