New information for NFCU cardholders

[Anonymous]

As of Novemeber 1st, available cash advance will be 50% of total credit line.  For example, if you have a 10K limit on your card amount available for cash advances and balance transfers will be 5K.  This is a system wide change.  Also, manual credit line increases will result in hard pulls.  It seems that some are able to stop this from going through but I was told all applications will result in a HP.  Automatic credit line increases can occur one year after account is opened.  No HP is done for this.  NFCU had a very generous cash advance/balance transfer program but, like other companies, they have cut back.  50% is still high but quite less.  FYI.

[Anonymous]

That's good to know, did they send out an email or a letter? I wonder if SP CLIs are going to be done with them too? I've seen some people snag some SP CLIs from the 9/1 AR...

Oz

[Anonymous]

Interesting info. Where did you come across this? Thank god I snagged my 22K limits on both my cards via this last round of AR SP's. Only on the second statement for each and have only put a few grand across them. Don't know why Navy seems to love me so much but I'll take it. 

[pizza1]

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@Anonymous wrote:

As of Novemeber 1st, available cash advance will be 50% of total credit line.  For example, if you have a 10K limit on your card amount available for cash advances and balance transfers will be 5K.  This is a system wide change.  Also, manual credit line increases will result in hard pulls.  It seems that some are able to stop this from going through but I was told all applications will result in a HP.  Automatic credit line increases can occur one year after account is opened.  No HP is done for this.  NFCU had a very generous cash advance/balance transfer program but, like other companies, they have cut back.  50% is still high but quite less.  FYI.

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Manual reviews have always been a HP, that is not new at all. 

Now with the cash limit being 50% of the CL, that's pretty standard amongst all CCC. Where did you get your info on this? I have yet to receive any type of notification regarding this. Was this a CSR type of thing?

[FinStar]

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@pizza1 wrote:

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@Anonymous wrote:

As of Novemeber 1st, available cash advance will be 50% of total credit line.  For example, if you have a 10K limit on your card amount available for cash advances and balance transfers will be 5K.  This is a system wide change.  Also, manual credit line increases will result in hard pulls.  It seems that some are able to stop this from going through but I was told all applications will result in a HP.  Automatic credit line increases can occur one year after account is opened.  No HP is done for this.  NFCU had a very generous cash advance/balance transfer program but, like other companies, they have cut back.  50% is still high but quite less.  FYI.

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Manual reviews have always been a HP, that is not new at all. 

Now with the cash limit being 50% of the CL, that's pretty standard amongst all CCC. Where did you get your info on this? I have yet to receive any type of notification regarding this. Was this a CSR type of thing?

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Actually, not really accurate for Cash Advance lines for all CCCs.  Some range anywhere from 100% access, others in the 50% range and the great majority fall in the 20%-25% access range.

[Anonymous]

or a $500 max. chase is stingy with them

[Anonymous]

so does this mean the love button is still okay for SP if eligible?

[Anonymous]

My last billing statement informed me of the cash advance limit change.  I spoke to a CSR about this and the hard pull requirement after viewing my September statement. That probably hasn't changed, but I don't want to risk a hard pull for a CLI I don't need at the moment.  I'll wait until January when my account is one year old and I will request a interest rate reduction (15%).  I have 7 HP's on EQ and a 680 score.  Utilization 1%.on total 35K limit among 6 cards plus an amex senior gold card.  10K limit on NFCU card.

[Anonymous]

they will reduce your rate every anniversary

[bbb925]

I got that message on my statements recently. I thought they were mad because I paid them all off..lol. Glad to know it's not me, it's them!