Unsecured Credit cards- Navy Federal Credit Union $ 10,000

[SemiSpook]

Dangerous. Wouldn't recommend NFCU for anybody (most of my debt was from them). Will be your best friend in giving it out until you miss a payment and then you're screwed. Just fair warning.

[IamOld]

Dangerous. Wouldn't recommend NFCU for anybody (most of my debt was from them). Will be your best friend in giving it out until you miss a payment and then you're screwed. Just fair warning.

SemiSpook is a million % correct - my atty HATES them with a passion...they are like Tony Soprano, my friends, Tony Soprano...

[justbroke]

Most large credit unions behave the same way. They are member own and make sure that they protect the membership. I missed one payment, and nothing happened. Of course, I immediately fixed the situation, but they didn't even charge a late fee. I have several credit accounts with NFCU (2 auto, a VISA, and an overdraft account).

I know much worse credit unions that charge "daily" overdraft fees of $8 and "extended" overdraft fees of $30 every 3rd day! (My friend had a debit card transaction that double posted and caused an overdraft. Did not know until a nastygram came in the mail. By then... $124 in "overdraft" fees for the single even. Had to beg the credit union to refund, but the CU told her to get the vendor to credit her. After all was said and done, they forced her to bring the account to a positive balance, before they (the CU) would refund the fees.

That's just credit unions in general. Their recourse for missed payments and overdrafts is very punitive because they are member owned. I believe they do these things primarily to "send a message" to the rest of the membership.

[IamOld]

You know just broke, I always wondered about credit unions - do they really try to help if something goes wrong? Or are they - to an extent - hypocrites? Navy Federal - I don't really consider them to be "member" owned - in theory sure, but they're a multi-billion dollar enterprise run by management...

[jetsfan2010]

been there, done that with NFCU, wouldnt do it again

[justbroke]

You know just broke, I always wondered about credit unions - do they really try to help if something goes wrong? Or are they - to an extent - hypocrites? Navy Federal - I don't really consider them to be "member" owned - in theory sure, but they're a multi-billion dollar enterprise run by management...

I think that at the smaller ones, you can establish a "relationship" with one of the bankers and they will take care of you when you run into trouble. The larger ANY bank gets, the more impersonal it gets. I made my statement based on the tenacity of credit unions (and very small local banks) during a bankruptcy. They show their teeth and their true "character" when someone pulls the Ace card (bankruptcy).

As a member of NFCU, they are certainly member owned and the members vote on the board. The board reflects -- one would hope -- the will of the members. A credit union is not beholden to traditional "shareholders" but shareholders nonetheless.

[iswmle]

Dangerous. Wouldn't recommend NFCU for anybody (most of my debt was from them). Will be your best friend in giving it out until you miss a payment and then you're screwed. Just fair warning.

been there, done that with NFCU, wouldnt do it again

I gotta agree, they were worse than Chase, Citi, and USAA. Dealing with them was a nightmare, and anytime I read about someone who is fresh out of BK getting approved for $25,000 with them something inside me cringes.

[IamOld]

My atty has a special place in reserved for them (NFCU) in Hades...

[ValleYum]

I gotta agree, they were worse than Chase, Citi, and USAA. Dealing with them was a nightmare, and anytime I read about someone who is fresh out of BK getting approved for $25,000 with them something inside me cringes.

If I won the biggie lotto tomorrow (1+ million), I would pay everyone back that we bankrupted EXCEPT Navy Federal.

Then, I would attend a board meeting (we still own 1 share LOL - our $5 savings account) with copies of all the cancelled checks and my BK petition as proof of paying everyone else back. Then I would clearly tell them WHY I didn't give them any of their money back which was because of how poorly their collections department behaved.

We were just over 30 days past due for the first time ever with them when we filed BK and they screamed and yelled from the 10th day late up until the day I told the woman how utterly delighted I was to tell her we had filed for bankruptcy protection. This was after almost 30 years of perfect history with them.

I, too, pray that anyone freshly discharged from bankruptcy NEVER has problems paying them on time. I shudder to think of how awful they would be knowing you had no real alternatives available...