NFCU CC int rate reduced. Could Fico 9 be the reason?

[Anonymous]

Certainly could just be coincidence and is purely speculation on my part.  

I called Friday night to see if  I had any chance of an interest rate reduction on my two Navy cards.

Immediately was given a reduction to 10.40 on the Cash Rewards and 10.24 on the Go rewards. Lowest available on both.

Both had been in the 16% range.  I reduced the Cash rewards from 17.40 to 16.40 last year.

What has me thinking maybe Fico 9 has some influence is that my scores on fico 8 and mortgage scores have only gone up about 20 points and have been steady around the upper 600 and low 700 range for a while.  But my Fico 9 scores are in the 740 to 770 range. 

So maybe there is sonething to them providing us the eq Fico 9.  Guess time will tell soon enough.

[credit_endurance]

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@Anonymous wrote:

Certainly could just be coincidence and is purely speculation on my part.  

I called Friday night to see if  I had any chance of an interest rate reduction on my two Navy cards.

Immediately was given a reduction to 10.40 on the Cash Rewards and 10.24 on the Go rewards. Lowest available on both.

Both had been in the 16% range.  I reduced the Cash rewards from 17.40 to 16.40 last year.

What has me thinking maybe Fico 9 has some influence is that my scores on fico 8 and mortgage scores have only gone up about 20 points and have been steady around the upper 600 and low 700 range for a while.  But my Fico 9 scores are in the 740 to 770 range. 

So maybe there is sonething to them providing us the eq Fico 9.  Guess time will tell soon enough.

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Congrats on your rate reduction success! I have 2 cards currently with them goRewards 16.90 & platinum visa 13.40 and wanted to see if they could reduce both. Do you know if it needs to be a year with NFCU to be eligible for a reduction or can you request in less time?

[Anonymous]

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@Anonymous wrote:

Certainly could just be coincidence and is purely speculation on my part.  

I called Friday night to see if  I had any chance of an interest rate reduction on my two Navy cards.

Immediately was given a reduction to 10.40 on the Cash Rewards and 10.24 on the Go rewards. Lowest available on both.

Both had been in the 16% range.  I reduced the Cash rewards from 17.40 to 16.40 last year.

What has me thinking maybe Fico 9 has some influence is that my scores on fico 8 and mortgage scores have only gone up about 20 points and have been steady around the upper 600 and low 700 range for a while.  But my Fico 9 scores are in the 740 to 770 range. 

So maybe there is sonething to them providing us the eq Fico 9.  Guess time will tell soon enough.

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An improved score certainly played a role in it. But NFCU is just awesome and they want to keep their members happy. If your scores warrant higher credit lines and lower APRs they usually will oblige. 

[Anonymous]

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@credit_endurance wrote:

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@Anonymous wrote:

Certainly could just be coincidence and is purely speculation on my part.  

I called Friday night to see if  I had any chance of an interest rate reduction on my two Navy cards.

Immediately was given a reduction to 10.40 on the Cash Rewards and 10.24 on the Go rewards. Lowest available on both.

Both had been in the 16% range.  I reduced the Cash rewards from 17.40 to 16.40 last year.

What has me thinking maybe Fico 9 has some influence is that my scores on fico 8 and mortgage scores have only gone up about 20 points and have been steady around the upper 600 and low 700 range for a while.  But my Fico 9 scores are in the 740 to 770 range. 

So maybe there is sonething to them providing us the eq Fico 9.  Guess time will tell soon enough.

---

Congrats on your rate reduction success! I have 2 cards currently with them goRewards 16.90 & platinum visa 13.40 and wanted to see if they could reduce both. Do you know if it needs to be a year with NFCU to be eligible for a reduction or can you request in less time?

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Pretty sure it's a year in between requests for an reduction.  I waited till my card was a year old before the first request and then another year for the 2nd request on the Cash Rewards card.   The Go rewards card just turned a year old at the beginning of June.  

[K-in-Boston]

Congrats! It does look like EQ 09 is being used now as part of their decision.

Quick sidebar question... does anyone know if NFCU will lower APRs below the published ranges?

[Anonymous]

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@K-in-Boston wrote:

Congrats! It does look like EQ 09 is being used now as part of their decision.

Quick sidebar question... does anyone know if NFCU will lower APRs below the published ranges?

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If that truly is the case, I want to do the dance of joy.  Im waiting a bit for my rebuild to hit the 2 year mark, but my fico 09s are substantially higher than my 08s.

OP, thanks for sharing this, it's given me something to look forward to!