Received a letter about this, last week.

Has anyone else?

Seems First Bankcard has finally found a way to dispose of their NRA connection.

Unfortunately, it also involves establishing an account as well.

Not sure I want another account...

Has anyone else looked into this situation and have any thoughts, please?

Apparently, we have until the tenth to decide.

no but I have banked with PenFed for a long time

solid track record

their car loans / mortgages are competitive also which is nice to be able to shop that when required

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Thank you very much, sir.

That helps.

Do you have a credit card through them, as well?

I declined joining PenFed; I don't need an account where I wouldn't be contributing funds.

A valid point worth considering.

Thank you, sir.

I also did the opt out option.

quote:

Originally posted by ersatzknarf:
Thank you very much, sir.

That helps.

Do you have a credit card through them, as well?

Yes sir

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I got it, they said they would pay the $5 to open and account and then issue their VISA.

Don’t need another account and to be honest my NRA VISA had one of the lowest limits of my cards so I just called FirstBank and closed/cancelled the account.

Only thing I ever used it for was NRA membership upgrade over a year ago, paid off at the time and never carried a balance.

Got the same letter... I actually just paid off the NRA account.

I really do not want to close the account, as it has a weird effect on credit score.

I have not yet received anything about switching or opening an account. Hope I did not miss it and think it junk mail. If so, oh well...

quote:

Originally posted by Sig209:
no but I have banked with PenFed for a long time

solid track record

their car loans / mortgages are competitive also which is nice to be able to shop that when required

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Ditto.
Great rates and quick responses as long as you don’t mind doing things online.

Many thanks to all for the replies.

I also thought it does weird things if one closes an account.

The First Bankcard apparently ceases on 4/24.

However, have to make a decision by the tenth...

Only used the NRA card for gun stuff and making donations. Haven't really used it for a while.

It was nice to have, but not sure about this conversion.

I don’t remember if their letter had details about interest rate, annual fee, or perks. We pay ours off in full every month, so interest rates aren’t a big issue. I am a fan of cash back, though.

The letter really didn't mention any details of their card...

Been a PenFed member for 15 years. They financed both of my Ferrari’s and took literally hours for the paperwork to process.

I think I keep a whopping $35 in the shade account. The credit card is just fine.

An odd first post here, but based on what customers are saying, ill go with penfed. I use this card mostly forgun stuff.

Thank you both, mebbe will just take the do nuffin an' git a new card option.

Might jus' allow fer a new Ferrari.


Prolly not, but a nice little Lotus would suffice

I don’t qualify for a PenFed account. This would be an EASY decision for me! They have competitive loan rates and other perks that would be a no brainer to me... I definitely would sign up for that account and just keep it on the back burner if necessary.

their online Premium Savings Account APR is competitive also

nice to park some money in there to cover expenses on credit card -- super easy to transfer $$ with a few clicks

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Both are very good points, thank you very much!