I have been with Navy Fed for several years but never tried any of their product. Last year new car loan for 1.79% and a credit card with 7500 limit. I have had some issue with credit do to being disable because of a medical situtation and took a few dings on my credit and they have fully taken care of me when I needed it. They will be my CU for life.
After banking with navy federal for ten years they finally used the old bait and switch to close my credit card account. I was out of work for three months and looking for work frantically. I always paid for insurance on any loan or credit card for disability,death or unemployed situations. I submitted my request after I was laid off and was denied. For what reason I have no Idea. Nfcu would not give a clear answer. After three months of no income I fell behind. I found work finally and made the payments to catch up on everything. Then nfcu closed my accounts and removed the insurance. They are reporting my accounts closed on my credit which has tanked over a 100 points in the past week. I have retained an attorney and plan on fighting this. They charged me for a service to protect me if I was hurt or ever out of work and than as soon as I really needed it they denied me and threw down the hammer. Don't bank with them
These reviews were written by current and former account holders in the last year.
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NAVY FED WILL GIVE YOU CRED
Joined Navy Fed back in March 2017 because of all of the good things I had heard about their lending practices (auto, personal, credit). I am in the credit rebuilding stage so today I checked my scores from CK (TU603 | EQ 630 and decided to apply online today! INSTANTLY APPROVED FOR $3,700. I've been working diligently to repair my credit for 12 months now and started with a sub 500 score BUT let me tell you how good GOD is because I know I didn't deserve such a generous credit line.
I love this credit union
I signed up with Navy Federal a little over a year ago. I opened a checking account and applied for a credit card (the green one). I was approved for an incredible amount and the interest rate remains significantly lower than my Chase, Citi, and Capital One cards (the only other cards I have). I recently transferred a balance to my card and there are no balance transfer fees -- not true of my other cards unless I recently opened them. I have received excellent service, their people in my branches and by phone have been helpful and pleasant to talk with. Their auto loans have very low rates and they cover used and new cars. I recommend them whenever I can.
They're fantastic.
I've been with them for almost 20 years and don't want to use another group.
WOW Hugh Credit Limit Low Score
Been a banking customer for over a year. Had a 1,000 dollar secured nrewards visa, never used it much. Recived a notice from NF they were unsecuring my visa for a 1,000 nrewards visa. Months later not using the card really I asked for a CLI reading on Dr, of Credit blog, to always ask for a 25,000 dollar increase no matter if you only have a small CL. Well, after a hard pull they increased my CL to 17,500 Transunion 650. Many Inquires Pretty clean CR. Next to my AMEX card this is by far my highest limit. Wanting to get the cash rewards visa, but will wait. Thought they would deny a big CL of 25,000, great counter offer. LOL nfcu
So far, so good
I only applied to this credit union because a family member recommended it. They got a debt consolidation loan and a new credit card to try to rebuild their credit. I just got a lease on a new car last month and when they pulled my credit score, it was 680, which I know is higher than my family member's. However, I did not get approved for the loan, though I did for the credit card, and at a rate about 10% less than my other accounts. One disappointing thing was that customer service couldn't tell me the reason for the denial - he said a letter had been sent. I thought that was a little weird, but whatever. After reading through the reviews here, I won't be banking with them, but for loans and such, they seem above average. I will apply for the debt consolidation loan again in 6 mos or so after I've used the new card to build a limit.
Well worth it
Being part of this credit union I can easily cut back on "bank fees". This bank has no surprise fees most banks have. Great rates on loans !
Battle Buddy Approved
First let me say that I am disappointed to read some of the bad experiences people have had with NavyFederal, they are truly troubling.
As for my own experience with NavyFederal(NF) I have been extremely happy with them. They have been very, very generous to me and my family. For the record though, I will say that my VA refinance process with them was a little less than perfect. I The first two loan processor seemed to be a little incompetent, to busy for me, or both. Needless to say, the 3rd processor got it closed in no time with no issues which made me wonder what had happened with the first two.
Since starting with NF, I have my mortgage, 2 auto loans, checking, savings, CC, etc with them. I am extremely happy with ALL my products bar none. I don't know that I would want to bank anywhere else and the fact that they have been expanding branches closer and closer to home is only a plus. One HUGE thing, in addition to the nice little bonus they kicked in towards my closing cost when i funded my loan with them, they don't sell their mortgage loans! and they service in house!! This is and continues to be one of the best selling points when it comes to mortgages with them.
I hope those who have are having negative experiences with them get them resolved satisfactorily. And for those of you who are thinking about trying them, I HIGHY recommend them.
Great for Auto Loans
I looked around at a lot of places for auto loan rates and Navy Federal had equal to or better rates than anywhere else I could find at the time. They have great staff and respond to any questions I have pretty quickly. I use their checking, not for my primary account, and I have a savings account with them. I know they don't have very many locations which can be an issue if they were your only banking institution, but they have a great online system which makes transfers easy. I use my savings & checking with them as my vacation accounts.
Good But crafty
I would have given them 5 stars, But when i appled for a credit card they put a limit on it of $17,600. Basically cornering me so that attempting to get loans anywhere else will flag my * available credit *.... yes, you can have too much available credit... i doubt I would get approved for a personal loan, even with an 800 credit score, because I have all my eggs in Navy federals platinum visa credit card, basket.
Absolutely the worst ever!
First they screwed up on my application to join then couldn't figure out that I had sent them my ID and info correctly just as requested. Then they pulled a switch and bait on the interest rate of a CDS saying it would be 3% and then giving only 1%..., After that it went down hill with everything from lies about how much I could quailify for on a home loan to even agreeing to fund one at all! Baout the only "benefit" of membership in this credit union is a gaurenteed reduction in your credit score so if you are thinking of joining DON'T! If you already have.... find a real credit union to join because these people will screw you over! Am I disdsatisfied? You're darned right I am.... I am going to try to get them to let me cash out of that crappy CD they sold me and move my money back to my Ally account were the savings account pays more than their CD or savings! I am a Disabled Vet and shouldn't be treated like they treat people. If you don't believe me look at the over 300 one star ratings they have on Consumer Reports!