NFCU Platinum drops APR to 6.74%

[Anonymous]

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@UpperNwGuy wrote:

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@700orbust wrote:

It could be the whole "APR vs Interest Rate" thing...

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Please explain.  I don't understand the difference.

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There is no difference in credit cards.  However in mortgages, there is a difference and something that you can find more about in either the mortgage forum or better yet, just doing a quick internet search.

[Anonymous]

While I don't ever plan on carrying a balance...

This was a bait and switch

rate of 6.74% based upon prime plus 2.49% given to me on 7/10/17

rate of 6.24% given to me on 7/13/17 based upon a recent review of my account to be effective the next period

rate of 6.99% is now the lowest rate from NFCU based upon prime plus 2.74% and I have been increase to 6.99%

I expect optimization from USAA, but not NFCU

[Anonymous]

And here was the explanation from NFCU...

"On 07/13/17, a letter was sent to advise of your approval for the lowest rate of 6.74% but included a typing error, stating the rate of 6.24%."