Navy FCU Redue APR

ficoguy2013 · ‎03-08-2015

Right now,

I am interested in getting my APR reduce with Navy Federal. Right now it's at 17.99% at the time of opening on May 12, 2014.

They started me at 1k, now I am at 20k (Which they recently approved)

of course, I don't carrry balance for more than 2 months.

What other facts play into role in asking to reduce my APR?

I don't want them to pull another HP.

What are your success stories?

Lines of Credit Navy FCU Cash Rewards Signature - $25k || Navy FCU LOC - $15k || Barclay's Apple Rewards - $5k || ECP Military Exchange - $4k || DCU Platinum Rewards - $2k || Discover IT - $750 || Capital One Quicksilver - $2.5k || USAA American Express - $5k || Target Redcard - $2.4k ||
Auto Loans:Toyota Financial $25,000 - 1.9% || USAA Auto $32,000 - 1.76% || DCU Auto $32,000 - 2.49% (dd discount .50%)

Utl @ 10% - Main Card: Navy FCU Cash Rewards

Creditaddict · ‎03-08-2015

@ficoguy2013 wrote:
Right now,

I am interested in getting my APR reduce with Navy Federal. Right now it's at 17.99% at the time of opening on May 12, 2014.
They started me at 1k, now I am at 20k (Which they recently approved)

of course, I don't carrry balance for more than 2 months.

What other facts play into role in asking to reduce my APR?
I don't want them to pull another HP.
What are your success stories?

Wait until 1 year and call up and ask... they click a button just like Discover can do and it comes back yes or no... no hp.

js0319 · ‎03-08-2015

Wait a year, and make sure your scores are in line. They will take your income and scores into consideration when making a final decision.

AMEX PRG - NPSL I AMEX Everyday Preferred - $34.8k I Capital One Venture - $20k I Chase Sapphire Preferred - $25.5k I Chase Southwest Rapid Rewards Premier - $20.7k I Barclay Arrival + - $10k I Capital One Quicksilver - $10k I NFCU Flagship Rewards Visa Signature - $15k I NASA FCU - $10k I Texell FCU Visa - $5k I Chase Freedom - $9.9k I Citi Double Cash - $7.8k I Discover IT - $5k I NFCU CLOC - $15k I Total Unsecured Credit - $188,700

EQ FICO - 714 (5/24/16) I TU FICO - 772 (5/24/16) I EX FICO - 770 (5/24/16)

joedtx · ‎03-08-2015

Ca is. Correct. You can ask once a year they will let you know if you qualify or not. Good luck

BarryNTexas · ‎03-08-2015

@Creditaddict wrote:
@ficoguy2013 wrote:
Right now,

I am interested in getting my APR reduce with Navy Federal. Right now it's at 17.99% at the time of opening on May 12, 2014.
They started me at 1k, now I am at 20k (Which they recently approved)

of course, I don't carrry balance for more than 2 months.

What other facts play into role in asking to reduce my APR?
I don't want them to pull another HP.
What are your success stories?
Wait until 1 year and call up and ask... they click a button just like Discover can do and it comes back yes or no... no hp.

Good question OP.

CA - at one year can you call and ask for APR reduction on the credit card and CLOC at the same time?

score_building · ‎03-08-2015

Once per rolling 12 month if APRD is granted.

If declined can check back again sooner, recommend waiting about a month.

Only a seasoned/ well informed member rep will know this, many will not, don't rely on their f/b for the APRD request protocol.

It took a while to reach lowest APR offered on the Platinum (7.99), one or so points per request, over a few years.

The final drop from 8.99 to 7.99 was a no with 35% UTL (bt balance), following month a yes at 0 UTL. Mentioned to rep had tried about a month ago and was denied, she incorrectly said then you have to wait a year. I asked her to please place the request anyway: Approved.

DCU EQ 5.0, Citi EQ 08 Bankcard, PenFed EX NG2
EX 08: AFCU, Amex, Chase, PSECU EX 98(?)
TU 08: Barclays, Discover

ficoguy2013 · ‎03-09-2015

So, it's 1 point per year?

or could be possibly more... or it might be wishful thinking

Lines of Credit Navy FCU Cash Rewards Signature - $25k || Navy FCU LOC - $15k || Barclay's Apple Rewards - $5k || ECP Military Exchange - $4k || DCU Platinum Rewards - $2k || Discover IT - $750 || Capital One Quicksilver - $2.5k || USAA American Express - $5k || Target Redcard - $2.4k ||
Auto Loans:Toyota Financial $25,000 - 1.9% || USAA Auto $32,000 - 1.76% || DCU Auto $32,000 - 2.49% (dd discount .50%)

Utl @ 10% - Main Card: Navy FCU Cash Rewards

takeshi74 · ‎03-09-2015

@ficoguy2013 wrote:
What other facts play into role in asking to reduce my APR?

Your entire credit profile matters just as it does with APR with any creditor.

score_building · ‎03-09-2015

@ficoguy2013 wrote:
So, it's 1 point per year?
or could be possibly more... or it might be wishful thinking

Yes, it could be several points depending on overall profile/ worthiness. Several posts over the years have indicated a multi point drop, often it seems to be just 1 or 2 at time, it varies though.

DCU EQ 5.0, Citi EQ 08 Bankcard, PenFed EX NG2
EX 08: AFCU, Amex, Chase, PSECU EX 98(?)
TU 08: Barclays, Discover

Anonymous · ‎03-13-2015

@ficoguy2013 wrote:
Right now,

I am interested in getting my APR reduce with Navy Federal. Right now it's at 17.99% at the time of opening on May 12, 2014.
They started me at 1k, now I am at 20k (Which they recently approved)

of course, I don't carrry balance for more than 2 months.

What other facts play into role in asking to reduce my APR?
I don't want them to pull another HP.
What are your success stories?

I was approved for the CashRewards Visa back in mid November 2014 for $4,000 at 15.9%. I asked for a CLI the beginning of March and was approved for $25,000. A few days after the CLI, I sent a secure message asking NFCU to upgrade the card to the siganture version. They did do that for me and lowered my APR to 9.65% without asking and transfered the bonus points I had accrued to my savings account as well so I would not lose them.

Good luck if you try to do this.