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Tropical Steve

Are USAA and NFCU really that great?

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Perhaps I'm a bit ignorant and not seeing the light, but are USAA and Navy Federal CU really that great? I've been a USAA associate member since 2006 and an NFCU member since last year. I joined both because I was in the military and was surrounded by soldiers who banked through them so I figured, "why not".

 

Now I come on here, a very informative site, and find every 5th topic or so is about USAA or NFCU! Anyone can bank through USAA but NFCU, like any CU, has a FOM. Why does everyone want to be a member? Maybe I don't realize how good I have it? Can someone help me understand? :)

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What it mostly comes down to is that NFCU is nice about approving members' applications for credit, with less than perfect scores.

 

I think USAA can be similar, but only for full military members. Since they are not a CU, all members are not created equal.

 

USAA also has a credit monitoring service that many of us like.

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NFCU is one of the most if not the most generous lender. Posters with less than perfect credit often get high limit credit cards (2 or 3 times what anyone else will give them) and low APR car loans. Getting a high limit on one card can lead to getting high limits on your future cards with other lenders. So many see it as their first big break credit limit wise. They also have the 0 fee 0 APR balance transfer that you can transfer your debt from other lenders to.

 

USAA for me the attraction is using it as a hub with an interface that I like and the $6.95 a month daily tri-pull service that costs twice as much anywhere else. USAA also used to give crazy high limits on their credit cards but they are much more conservative now.

Edited by Tyra

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What it mostly comes down to is that NFCU is nice about approving members' applications for credit, with less than perfect scores.

I think USAA can be similar, but only for full military members. Since they are not a CU, all members are not created equal.

 

USAA also has a credit monitoring service that many of us like.

 

 

THIS!!!! They gave me and the DW a nRewards VISA with a $22K CL and our highest at that time was $750....scores in the mid 600's!!!! NO other bank or CU would have done that!!!!!!

 

 

 

I got a USAA AMEX and Platinum Rewards VISA with similar scores...$2K Cl to start but was my first apps and approvals with them!!!!

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IME USAA is great for every day banking, OK CC products, great ach hub and cust service varies. NFCU has awesome credit products and seems to give a blemish or two a second chance as long as it wasn't with them. Overerall it pays to belong to both if you can.

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IME USAA is great for every day banking, OK CC products, great ach hub and cust service varies. NFCU has awesome credit products and seems to give a blemish or two a second chance as long as it wasn't with them. Overerall it pays to belong to both if you can.

 

The cards are pretty decent for a CU. With noted exceptions like PenFed and Fort Knox, the majority of CUs out there have, if anything, that CURewards thing where you can order toasters out of a catalog with your points.

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IME USAA is great for every day banking, OK CC products, great ach hub and cust service varies. NFCU has awesome credit products and seems to give a blemish or two a second chance as long as it wasn't with them. Overerall it pays to belong to both if you can.

Not always true...it just takes a while, 4 years in my case. :grin:

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