Is Navy Federal good for people with good/great credit?

[Swatch]

Or is it only really good for people who are rebuilding? What are the benefits for people with good FICO scores?

I know about the SSL and the benefits of SSLs... so what else?

I am wondering if I should get a sponsor and build a relationship with Navy Federal or not. I am in other CUs.

[ChargedUp]

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@Swatch wrote:

Or is it only really good for people who are rebuilding? What are the benefits for people with good FICO scores?

I know about the SSL and the benefits of SSLs... so what else?

I am wondering if I should get a sponsor and build a relationship with Navy Federal or not. I am in other CUs.

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They gave me a $25K More Rewards Amex right out the gate. Their web and app interface are intuitive and easy to use and they offer a wide variety of banking services and competitive rates on lending products.

Ultimately, it's up to you if their offerings are going to line up with your financial needs and desires. They *are* the nations largest CU, and yes, they do tend to be rebuilder friendly, but I'd hardly call them strictly oriented at rebuilders and those with blemished credit reports.

[tcbofade]

They've been very good to me.  In the past, I've had a second mortgage and a car loan with them.

Currently, it's three credit cards... all below 10 percent APR...  I use the CashRewards as a use and pay card, the Platinum is sitting empty with a $40k CL and 5.99 APR... I don't PLAN to carry a balance that I pay interest on, but if I have to, that's where it will go.

[SouthJamaica]

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@Swatch wrote:

Or is it only really good for people who are rebuilding? What are the benefits for people with good FICO scores?

I know about the SSL and the benefits of SSLs... so what else?

I am wondering if I should get a sponsor and build a relationship with Navy Federal or not. I am in other CUs.

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IMHO it's an excellent credit union. Its website is superior, many of its products are excellent, and its customer service is the best.

[ldkcivilservant]

We have the following products with them:

- Used Auto Loan

- New Auto Loan

- My cashRewards ($10k)

- My Platinum ($50k)

- DW Platinum ($37k)

We have been members since December 2020, and they are the first port of call for any financial needs. The platinum (both at 5.99% APR) is quite simply the cheapest way to borrow money if you need too. Even taking a cash advance ($15k avaliable of my $50k line) is only at 7.99%. There are plenty of people that can't get a car loan at that low an APR, let alone a cash advance from a credit card.

Their website is good, customer service excellent, and I recommend them to friends that have a way in. I would never burn them if I had any choice whatsoever, they are too valuable a CU to have on your side.

In short - yes, you should join. There really is no reason not to.

[LakeLife]

They have become my go to for auto loans, and we used them for their "Military Choice" mortgage loan for our vacation home.  They were the only bank to offer a 2nd home mortgage for only 5% down and no PMI that I couuld find.  The interest rate actually looks attractive 4 months after we bought the property.  Their credit card offerings are so-so, but I'm happy to have one for my total CL if nothing else.

I'd recommend them to anyone.

[Mr_Mojo_Risin]

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@Swatch wrote:

Or is it only really good for people who are rebuilding? What are the benefits for people with good FICO scores?

I know about the SSL and the benefits of SSLs... so what else?

I am wondering if I should get a sponsor and build a relationship with Navy Federal or not. I am in other CUs.

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I'd definitely recommend you apply for membership with Navy if you're eligible.

Whether you have a score of 550 or 850, they have products for everyone.

They're a great CU to be apart of.

[Anonymous]

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@Mr_Mojo_Risin wrote:

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@Swatch wrote:

Or is it only really good for people who are rebuilding? What are the benefits for people with good FICO scores?

I know about the SSL and the benefits of SSLs... so what else?

I am wondering if I should get a sponsor and build a relationship with Navy Federal or not. I am in other CUs.

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I'd definitely recommend you apply for membership with Navy if you're eligible.

Whether you have a score of 550 or 850, they have products for everyone.

They're a great CU to be apart of.

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I envy your card lineup @Mr_Mojo_Risin , AOD+CITI CC is formidable lol. @Swatch I'm also a Swatch collector, recently bought 2 Charlie Brown ones! Too bad I'm ineligible for this CU, I'm permanent resident, naturally no one I know of/relatives are military related, maybe if I marry a sister of a veteran or something 😅

[Anonymalous]

JD Powers did a credit card lender satisfaction survey. A couple subprime lenders fell off the bottom, but most of the major and regional banks were spread across this big lump in the middle. Noticeably above the middle group were AmEx and Discover. And even above that were three lenders: Goldman Sachs, USAA, and the highest of all, Navy Fed.

Navy Fed has excellent customer service. They don't have cards for super optimizers, but they have some of the best cards for people who don't want a wallet full. They have some of the lowest interest rates in the business, low or no fees, reasonable transfer limits, and their app and webpage aren't ground breaking but are pretty decent. Like any lender, they have some quirks, and they won't work for everybody. But overall, they're a very solid choice for almost anyone who qualifies.

[Swatch]

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@Anonymalous wrote:

JD Powers did a credit card lender satisfaction survey. A couple subprime lenders fell off the bottom, but most of the major and regional banks were spread across this big lump in the middle. Noticeably above the middle group were AmEx and Discover. And even above that were three lenders: Goldman Sachs, USAA, and the highest of all, Navy Fed.

Navy Fed has excellent customer service.

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Interesting. My friend was dealing with a local branch and felt the CS was very poor. I wonder if I can skip dealing with local branches.