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NFCU LOC

Regular Contributor

NFCU LOC

NFCU members please chime in, i was just sent the promissary note for the 10k LOC i was approved for i was pretty upset to see the interest rate its 15.9%!!!!  My credit cards are 12.99% i was expecting the same or less of interest rate.  Is this a normal interest rate for LOC?

Message 1 of 8
7 REPLIES
Valued Contributor

Re: NFCU LOC

Yea that's what I got too but didn't too much worry about it.  Whenever I use it, it will be sparingly anyway so no skin off of my back.  It's sure as hell better than one of those payday loans I keep hearing about Smiley Happy.


Major CC's - Barclay's ($5.5K) | Barclay's Sallie Mae MC ($5K) | DCU ($7.5K) | Discover IT ($1.4K) | Genisys Visa ($1.4K) | NFCU Visa ($22K) | Navcheck ($15K) | Chase Freedom ($5K) | SDFCU Visa ($8K) | Amex BCP ($9.5K) | Amex Delta ($10K) |Store CC's| -Amazon ($4K) | Catherines ($850) | JCP ($4K) | Macy's ($1.7K) | Avenue ($850) | Victoria's Secret ($1.4K) | Walmart ($4.1K) | Paypal SC ($1.3K) | HSN ($2.5) | Sears ($2.6K) | Sams Club ($4.1K) |Goal|: Age with grace to 750 across the board |Last app|: 3/3/2014
Message 2 of 8
Valued Contributor

Re: NFCU LOC

^^^^ this.
Scores: about 700 across the board
Total CL: $275k
Message 3 of 8
Valued Contributor

Re: NFCU LOC

~16% is about average for the NavChek

Learning from my past and rebuilding..

BK discharged 1/10/17
scores: EQ 659 | TU 630 | EX 659

QS 3.8K | WF 500 | Cabela's 3k | ACU 500 |

Message 4 of 8
Moderator Emeritus

Re: NFCU LOC

Mine is 14.9% and my cashRewards card is at 12.65%...

 

So ya, its higher than the credit card APR


Starting Score: 08/29/2011 TU 671 EQ 674
Current Score: TU 754 EQ 694 EX 697
Wallet: NFCU Visa Sig 25k, Amex Lowes 22k, NavCheck 15k, Amex PRG, Amex Zync, Discover It 13.5k, Amazon Visa 5k
Platinum Spade Garden Club Member: App Free since 1/1/13. No more apps til who knows when?
MyFICO Fitness Goal: 800s Club!



Take the myFICO Fitness Challenge
Message 5 of 8
Regular Contributor

Re: NFCU LOC

the best apr they offer on loc is 13.9

Navy Siggy Cash Rewards 25K , Navy plat visa 25k,navy go 25k, Navy Check 15K, , USAA Am Exp 18K, USAA MC Rate Advantage 18K, Discover IT 18.5K, PayPal Extras MC 7.5K, Chase Military Star MC 2.5K, Military Star 8.05k, Wallmart discover 7.5k, Amex bce 25k,Boa cash rewards25k, southwest chase 4k, nasa cr 30k,nasa rew 5k,barc rewards 25k=279k+ scores 750 across the board
Message 6 of 8
Established Contributor

Re: NFCU LOC

I use my PSECU line of credit more at 12.9 Never used my NFCU.
Experian® 808/Equifax® ?/TransUnion® 810
Baddies Experian® clean/Equifax® 1/TransUnion® Clean
Last CLI 6-13-2013
Total Credit $121,190.00
Goal 780!
Message 7 of 8
Highlighted
Contributor

Re: NFCU LOC

Yup, that's pretty common.

Top 3: Amex BCP 25k - Chase Sapphire 17.5k - PSECU 20K


Starting Score: 714
Current Score: 759
Goal Score: 800

Take the myFICO Fitness Challenge
Message 8 of 8