Getting into NavyFed

[KatzNDawgs]

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@Jnbmom wrote:

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@KatzNDawgs wrote:

You can also get in if anyone in the household is a member. So that could be an unrelated roomate (whether veteran or not), etc. Any buddies that are members that could sleep on your couch for a week?

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I am sorry but I do not recommend this way to sneak in . This is for military and their families and they earned that right , while yes household is acceptable this above us just shady and unethical.

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Oh, I get that - I am a veteran myself. Perhaps my tongue-in-cheek "sleep on your couch for a week" was taken a bit too literally. I was just emphasizing that for the options available for OP, if they did not want to actually enlist or get a military contract position, getting a household member (that would fall under the rules as per NFCU), would be the easier route.

[bluenote-lp]

The fact that Navy League has it listed they are not affiliated with NFCU,and you joing them does not make you elibile,to jouin NFCU is pretty cut and dry that thousands took advantage of that loophole to the point that NFCU  had to step in.This loophole was greatly bragged about on  Y/TUBE, and people took advantage of it, like others have said it was closed and the only way in is thru regualr channels of a relative of someone already in, or  being current or private military.

[Realist]

I see a lot of people wanting to get into Navyfed, but I'd like to ask what's the draw?

We used Navyfed as a mortgage provider, but their rates were highly situational.  When we were best elsewhere, they didn't compete.  When they were the best, we were six annual refinances later, securing a fantastic rate.  They weren't our number one when shopping around, so I wonder why the draw.

They are slow.  Either snail slow, or highly, and overly highly secure that moves at a snails pace.  We locked in a 2.xx%, but it took forever.

I would say it's a nice to have, but not a necessity.  

[coldfusion]

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@Jnbmom wrote:

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@RaeRae1226 wrote:

@Jnbmom 

What was the other way years ago?

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It was the San Diego naval council but that loophole shut down I believe in 2018 maybe . No other ways then through guidelines on website 

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For completeness, they closed the Navy League loophole effective May 5 2017.   Longish story on how I know this.

[Horseshoez]

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@Realist wrote:

I see a lot of people wanting to get into Navyfed, but I'd like to ask what's the draw?

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I believe the main draw is very liberal credit card limits and low interest rates; I joined last year and applied for a credit card back in May, my first (and so far only card from them) came with a $30,000 starting limit.

[RaeRae1226]

@Horseshoez 

Im so intrigued by you and have so many questions:

- How do you like the TD Bank Cash Visa card?

- Why do you refuse to do AZEO!???

- Why are PenFed and Savor One in the sock drawer?????

I have so many questions.   😂

[Horseshoez]

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@RaeRae1226 wrote:

@Horseshoez 

Im so intrigued by you and have so many questions:

- How do you like the TD Bank Cash Visa card?

- Why do you refuse to do AZEO!???

- Why are PenFed and Savor One in the sock drawer?????

I have so many questions.   😂

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LOL...

I like my TDCash card a lot for many reasons; it started as my first secured card after my Chapter 13 discharge, graduated after 6-months, and has since grown to $11,500.  Even with the other cards I have, it still gets the heaviest usage, if for no other reason than I bank with TDBank and that makes the card super easy to manage.

Practicing AZEO is a pain in the back side; what I do instead is pay all of my cards to zero before the due date and assume a latent charge or two will post before my next statement; most months show one or two cards with balances, sometimes more, sometimes I get hit with the dreaded "All-Zero" (AZ) penalty and my scores drip ~20 points.  The only time I actively practiced AZEO was in the few months leading up to applying for a mortgage this past spring.

The PenFed card is in the sock drawer because the points are a pain to redeem and the SavorOne has joined it because CapOne has refused to increase my credit limit in the 3.5 years since I got it (even though they were more than happy to throw auto-CLIs at my Quicksilver card).