SIGforum
NRA Credit Card Conversion to PenFed Credit Union
February 05, 2020, 11:38 AM
ersatzknarfNRA Credit Card Conversion to PenFed Credit Union
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.
February 05, 2020, 12:27 PM
Sig209no 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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Proverbs 27:17 - As iron sharpens iron, so one man sharpens another.
February 05, 2020, 01:10 PM
ersatzknarfThank you very much, sir.
That helps.
Do you have a credit card through them, as well?
February 05, 2020, 01:25 PM
WaterburyBobI declined joining PenFed; I don't need an account where I wouldn't be contributing funds.
"If Gun Control worked, Chicago would look like Mayberry, not Thunderdome" - Cam Edwards
February 05, 2020, 01:33 PM
ersatzknarfA valid point worth considering.
Thank you, sir.
February 05, 2020, 03:24 PM
TomVI also did the opt out option.
February 05, 2020, 03:30 PM
Sig209quote:
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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Proverbs 27:17 - As iron sharpens iron, so one man sharpens another.
February 05, 2020, 03:34 PM
911BossI 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.
What part of "...Shall not be infringed" don't you understand??? February 05, 2020, 03:42 PM
billpoczGot 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...
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--- Sig 365, 365XL, 245, P6
* February 05, 2020, 04:13 PM
smlsigquote:
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.
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Eddie
Our Founding Fathers were men who understood that the right thing is not necessarily the written thing. -kkina
February 05, 2020, 06:30 PM
ersatzknarfMany 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.
February 05, 2020, 07:05 PM
arfmelI 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.
February 05, 2020, 08:34 PM
ersatzknarfThe letter really didn't mention any details of their card...
February 05, 2020, 10:09 PM
nhtagmemberBeen 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.
[B] Against ALL enemies, foreign and DOMESTIC
February 06, 2020, 09:12 AM
ShotarAn odd first post here, but based on what customers are saying, ill go with penfed. I use this card mostly forgun stuff.
February 06, 2020, 09:26 AM
ersatzknarfThank 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
February 06, 2020, 12:23 PM
bubbatimeI 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.
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Often times a very small man can cast a very large shadow
February 06, 2020, 12:38 PM
Sig209their 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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Proverbs 27:17 - As iron sharpens iron, so one man sharpens another.
February 06, 2020, 01:32 PM
ersatzknarfBoth are very good points, thank you very much!