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NFCU APR Decrease

Senior Contributor

NFCU APR Decrease

I called NFCU today since I opened my account in 4/2008, as I remembered they said I could request an APR decrease after a year.

 

The nice lady dropped my rate from 11.9 to 10.9! Not bad!

Here we go again...
5 REPLIES
Senior Contributor

Re: NFCU APR Decrease


FretlessMayhem wrote:

I called NFCU today since I opened my account in 4/2008, as I remembered they said I could request an APR decrease after a year.

 

The nice lady dropped my rate from 11.9 to 10.9! Not bad!


Good for you. I tried after 1 year w/o success. May is 2 years so I guess I will try again. Mine is 10.9% currently. 

Established Contributor

Re: NFCU APR Decrease

both apr increases and decreases are a direct result of your score, which is updated in their system every two months. if your score decreases past a certain point, your apr will be bumped up, however, if your score increases back to the point you were at before (or above) you'll have to call in and request it. they're really good about doing this though and usually don't even need to soft you (they've got a bi-monthly updated score in their system).

 

so yeah, long story short, apr decreases may be approved on a bi-monthly basis.

Senior Contributor

Re: NFCU APR Decrease

Great info jaybird! Does NFCU simply soft EQ every 2 months?
Here we go again...
Senior Contributor

Re: NFCU APR Decrease


FretlessMayhem wrote:
Great info jaybird! Does NFCU simply soft EQ every 2 months?

They soft me quarterly. Same as Penfed. 

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Frequent Contributor

Re: NFCU APR Decrease

I've been with NFCU for almost 20 years. In the last few years that I've been monitoring my reports I have not seen a soft pull from them unless I iniated it in some way. Congrats on the APR decrease. I wish they would match the 2.9% BT rate penfed is offering. The keep sending me the 5.9% for life mailings like it is something special.