NFCU Refi Approval but...

[meagherrob]

I was approved today with NFCU for a auto refi and what my main goal was to lower my payments.  Well they came back with a really high interest rate that would actually raise my payment.  Question is if anyone has had any success in requesting a lower rate?  I know on the CC side, most places have a "backdoor" number, but does anyone know if NFCU has anything like this?  I was considering bringing over both my car payments to them but cannot do that if they don't get the rate lower.  Thanks for any advise!

[TATATA]

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@meagherrob wrote:

I was approved today with NFCU for a auto refi and what my main goal was to lower my payments.  Well they came back with a really high interest rate that would actually raise my payment.  Question is if anyone has had any success in requesting a lower rate?  I know on the CC side, most places have a "backdoor" number, but does anyone know if NFCU has anything like this?  I was considering bringing over both my car payments to them but cannot do that if they don't get the rate lower.  Thanks for any advise!

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The same thing happen to me. Sent a message trying to get my rate lowered. Didn't work. Did not refinance; it wasn't worth it. NFCU does not have a "backdoor" number. 

[azguy13]

If you don't mind me asking, what was your CS when you applied and what rate did they give you?

[meagherrob]

Sorry for the delay gettin back to you guys.  My CS was 627 and I was told my tier was a C-.  I had someone tell me to have my wife as the primary and me as the joint and hopefully that would help.  Well, My wife has a 671 and we were fully approved for 6.4% for 96 months saving us $150 a month. 

[Creditaddict]

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@meagherrob wrote:

Sorry for the delay gettin back to you guys.  My CS was 627 and I was told my tier was a C-.  I had someone tell me to have my wife as the primary and me as the joint and hopefully that would help.  Well, My wife has a 671 and we were fully approved for 6.4% for 96 months saving us $150 a month. 

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What are you refinancing??? 96 months!!!?

[meagherrob]

LOL yes 96 months.  I was forced to take a new job where I had a 20% reduction in pay so we are trying to cut as much as possible.  Because I was so upside down on this trading it in for a new car wouldn't work.  I couldn't even lease something so this was the next best option.  We have a plan in place to have everything paid off in 3 years so this really didn't bother me at all doing this long of a term.  We just submitted our other car to them yesterday and they approved this refi for us too for the same terms and saving us a additional $100 per month.  Plus, we will get $250 for each refi since they have that promotion going and we are skipping 2 payments.  Cherry on top is I have a brand new CC with NFCU and I have heard on the CC forum that they will be doing a BT promo soon so that should help save some more...so long story short we have a plan in place