Thread: PenFed or NFCU? Decisions, Decisions.....

Aside from applying for a BCE in January. I'm also thinking about applying for either a PenFed Platinum Rewards Card or a NFCU Platinum card. They mainly intrigue me because of their generous initial CLs.

I'm only chasing the higher limit cards because after I apply for these cards I'm not applying for anything for 2-3 years as this is the timeframe that my baddies (1 Charge off and a few late payments) (06-'07) will fall off my reports. Current utilization is at 25%

From forum members experiences....
1. Is this a good plan in your opinion?
2. What are your experiences with the mentioned cards above?

Thanks.

.

I know nothing about the NFCU card but I love my PenFed card, especially for use on gas with 5x rewards. They gave me my highest CL which was a surprising number to me at the time as well. Another thing I like about them is they are very customer oriented (which I'm sure is common of CU's) and have deals in other categories occasionally like for instance they have a 3% deal going on for certain purchases (home improvement) on top of the 5% gas at all times.

NFCU is a better bet if you still have a charge-off and some lates on your report. I think PenFed offers a better rewards program, though.

Originally Posted by WS6R6

I know nothing about the NFCU card but I love my PenFed card, especially for use on gas with 5x rewards. They gave me my highest CL which was a surprising number to me at the time as well. Another thing I like about them is they are very customer oriented (which I'm sure is common of CU's) and have deals in other categories occasionally like for instance they have a 3% deal going on for certain purchases (home improvement) on top of the 5% gas at all times.

How much was your initial CL if you don't mind me asking?

Originally Posted by djrez4

NFCU is a better bet if you still have a charge-off and some lates on your report. I think PenFed offers a better rewards program, though.

Ok. Yea, all my baddies are aging. They're at least 5-6 years old. Just don't want to waste the unnecessary inquiry if I don't have to. I'm usually not the type that gets inquiry happy. I apply for usually 1 thing a year. Exception being last year when I got my Amex and USAA cards. If you recommend NFCU then that's what I'll go with.