So...I'm leaving BOFA...NFCU?

[Jenmerie]

Hey guys, 

Have a question or more like advice.  I've been a BOFA customer since I was a teen.  With recent news and other banks charging to use debit cards, I'm thinking of making the switch.  I am strictly a card user and I rarely ever go to the bank.  I don't even keep cash on me.  Since I've been on the boards I've heard so many great things about NFCU.  I don't work in the military... However, my father works for the Federal Government (USDA). 

I just called and the rep told me working for the USDA makes him eligible, as long as he works for the Federal Government.  He's looking to switch as well, would it be a good idea for him to join and then refer me?  Would you say this is a good move overall? I do want to refinance my car in about 6months.  Thanks

[Booner72]

It is always IMO a better decision to use a credit union than a bank, especiall BofA.  Credit unions are more personable - couldn't you find one in your town that you qualify to use rather than having to go through your dad?  Not that that is a bad decision.

[chasmith]

NFCU is great!  You qualify through your dad, but once in, you're in for life.  I strongly recommend.

[RobertEG]

You might want to keep those old accounts open, even if you dont use them.  If closed, you will lose the CL on the card in your calculation of % util, and way down the road, at approx. 10 years after closure, if the CRA exercises its arbitrary discretion and deletes the account from your credit file, you will lose a big chuck of account aging in the calculation of your average age of accounts.  I would only consider closing the cards if they carry a yearly fee.

That is what sock drawers are good for.