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swimmingwithsharks

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  1. But if Chase is already axing the Freedom 5%, or rather adding 3% categories to it and renaming it to FF, which makes you think FU will be gone, too? Because 1.5 is too much (from Chase's perspective)? Or are there more clues to make you suspect an FU demise? I'm still surprised Chase did anything.
  2. True. And that other bank can always shut you down (a la Chase), when the bank decides that customer isn't profitable. CUs get vindictive, too. It's the same motivation with different beneficiaries. As long as individuals have choices, there will be different decisions that each person may come to. I'm not advocating one versus the other. I'm helping CBers understand the legal and organizational difference. The difference between a CU and a bank is real. Even if they look similar. Much like an FDIC-insured money market savings account and a brokerage money market mutual fund look and act similarly, but are totally different. Understanding the difference is part of a consumer's necessary financial education to know what we're getting into. Naturally it's not an either/or choice - I can and do have both CU and bank relationships. Which underlines your point, doing what's best for you. The tax exemption depends on your perspective. It's best for the banks to squeeze the CUs out of their tax exemption if possible, to drive up costs and reduce competition. It's best for CUs to keep their tax exemption to have a competitive advantage over banks.
  3. If the CU members want higher savings rates, they can always vote out the current CU board and elect new ones who will do that, subject to the minimum capitalization ratio for expected losses. Customers are members who are, essentially, in control. But remember, it's what's best for the group of members, not necessarily the individual member. And this leads to the memberlicious difference. But the CU board serves the members. Bank customers do not have this board option. Bank boards are responsible only to bank stockholders' votes, who may not be customers. The Board's goal is to extract profit from the customers and pass it on to the stockholders in the bank. Bank customers are subject to the whims of the Board and who the Board chooses to run the bank. CU members control the board. It's a fundamental organizational difference.
  4. I'm waiting to see if there will be a future cap on drugstore purchases, or if Chase just plans shutdowns for MSers. I don't MS, but the folks at DoC are salivating at drugstore giftcards possibilities. Or maybe Chase will get L3 data and change the terms for no points on giftcards? Either way, unlimited 3% at drugstores is going to be interesting to watch developments.
  5. He seems to do so much better with Admirals Clubs and his Citi Executive card. Of course that doesn't help on Star Alliance carriers. And that doesn't use any Green travel credit. LoungeBuddy just doesn't seem to fit his travel, despite what their app claims.
  6. Can we get back to the Freedom Flex, please? The real question here is should one convert the original Freedom 5% to the Flex, OR keep the F5, BUT try to get the SUB for a new Freedom Flex, if out of 5/24 prison? Because the terms says you can only have 1 Freedom Flex, but there are plenty of people who have multiple F5's. I think we'll have to wait until Sept 15 to see of they approve the Flex for people with an existing F5. I think I'll still be over 5/24 then. I also have the Freedom Unlimited already, so from what I can tell, the 3% categories are going to be the same on both Freedom Flex and Unlimited. Just the difference is 5% rotating quarterly categories on Flex versus 1.5% on non-bonus spend on Unlimited (which of course should never go on this card unless you are transferring Chase UR points). Thoughts?
  7. Congratulations and thanks for sharing the good news. It's wonderful to read, gives hope to everyone, and made me feel happy with you 😎👏
  8. 3% back for has, groceries and dining on the Navy More Rewards American Express. But I just remembered Capital 1 has 4% on dining with the Savor, so I was wrong about that. As for the 3 hard pulls, that's an easy sell for a CFO: 3 times the information!!
  9. Three hard pulls for one product? No cashback rewards higher than 2%? Credit lines and cards that don't grow if someone is bucketed as subprime? Panic responses to financial downturns? None of those are true for Navy; all of those are true for Capital 1. Clearly and for CBers. But I don't know if any of those necessarily impact "regular" Navy members, because I'm not sure if that something they care about, and I imagine there is great overlap between the 7 million NFCU members and Capital 1's customer base already. I just hate to see Navy take a turn for the worse with someone with a profit mindset.
  10. I suspect this is bad for CBers. But for gen pop at NFCU, I'm undecided.
  11. Bank of America still has employees who sell to customers? I thought at BofA everyone was supposed to use only the website, stay out of the lobby unless you're a big business client, and that all the phone agents were offshore. How odd
  12. Never miss with a credit union. To a bank, it's just business. To a credit union, it's personal. That cuts both ways. CUs may take a chance where banks wouldn't, but they also leave no stone unturned when the fury is unleashed. Snap back clause and all. Since he's a member-owner, I guess he sued himself?
  13. Maybe 1 shouldn't be reserved for airlines, as consolidation reduces the number of airlines worldwide. Do the airlines really need all of the 10,000,000,000,000,000 numbers reserved for them? I'm sure the airlines would be happy to trade numbers for cash infusion payments by the banks!
  14. Well, don't all debit and credit cards now start with 3, 4 5 or 6 here in North America? There's still plenty of 16-digit numbers that start with 1, 2, 7, 8 and 9.

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