topic Re: NFCU APR Reduction in Credit Cards

NFCU APR Reduction

UncleB — Thu, 23 Nov 2017 01:27:50 GMT

I sent NFCU a SM asking if they could check my Platinum MasterCard to see if I was eligible for a lower rate. I was at a respectable 10.99% and was hoping to get a couple points knocked off that; my reduction last year was 1%. ( I sent a SM last week but I was a few days too early; honestly I forgot about it until today.)

After an hour or so they replied that my new APR is 6.99%.

While not a big deal (I seldom carry a balance) it's nice to have the option to do so at a low rate. It's also a personal best for me... I've never had a rate this low before.

I seldom use the card (due to lack of rewards) and I had considered changing it to a Cash Rewards but I think I'll leave it as a Platinum. I have enough other rewards cards and while I would like to give Navy more of my swipes they seem to be happy with the current arrangement (and so am I). For reference, my EQ FICO 9 as reported by NFCU is 775.

Hopefully the data point will help others.

Re: NFCU APR Reduction

Anonymous — Thu, 23 Nov 2017 00:22:34 GMT

Nice!!! I've been wanting to app for that Platinum MasterCard for the 6.99%, awesome to get that on your existing card. I LOVE NFCU!!!!

Re: NFCU APR Reduction

AverageJoesCredit — Thu, 23 Nov 2017 00:27:16 GMT

Awesome job UncleB. I think its important to have a card with low apr and that is separate from reward cards. Reward cards abound a plenty but good ol fashion credit cards like the Plat are not so much. This is a good card for future bt or carrying a balance from time to time if need. Well deserved

Re: NFCU APR Reduction

Anonymous — Thu, 23 Nov 2017 00:42:44 GMT

That is awesome! Nice to know if you do need to carry a balance, you’ve got a low Apr card 😀

Re: NFCU APR Reduction

joltdude — Thu, 23 Nov 2017 00:47:41 GMT

@UncleB wrote:
I sent NFCU a SM asking if they could check my Platimum MasterCard to see if I was eligible for a lower rate. I was at a respectable 10.99% and was hoping to get a couple points knocked off that; my reduction last year was 1%. ( I sent a SM last week but I was a few days too early; honestly I forgot about it until today.)

After an hour or so they replied that my new APR is 6.99%.

While not a big deal (I seldom carry a balance) it's nice to have the option to do so at a low rate. It's also a personal best for me... I've never had a rate this low before.

I seldom use the card (due to lack of rewards) and I had considered changing it to a Cash Rewards but I think I'll leave it as a Platinum. I have enough other rewards cards and while I would live to give Navy more of my swipes they seem to be happy with the current arrangment (and so am I). For reference, my EQ FICO 9 as reported by NFCU is 775.

Hopefully the data point will help others.

**bleep**.. And i was loving my 8.4x card....

With that kinda APR you dont *care* if it has rewards.. the rewards are what your saving on interest... I could see intentional usage for a large purchase or the yah know hitting the oscillating air moving device... That card would have a place in my wallet thats for sure..

Hoping for a future loophole with Navy... would have gotten it but was waiting for scores to go up and a few pulls to age... Hindsight is always 20/20

Congrats..

-J

Re: NFCU APR Reduction

pizza1 — Thu, 23 Nov 2017 01:54:26 GMT

VERY NICE UNCLE B!! Well Done, and the Plat is is a great fall back card, and a BT card. Its nice to keep around if needed Congrats !

Re: NFCU APR Reduction

Glen_M — Thu, 23 Nov 2017 01:57:30 GMT

@joltdude wrote:
@UncleB wrote:
I sent NFCU a SM asking if they could check my Platimum MasterCard to see if I was eligible for a lower rate. I was at a respectable 10.99% and was hoping to get a couple points knocked off that; my reduction last year was 1%. ( I sent a SM last week but I was a few days too early; honestly I forgot about it until today.)

After an hour or so they replied that my new APR is 6.99%.

**bleep**.. And i was loving my 8.4x card....
With that kinda APR you dont *care* if it has rewards.. the rewards are what your saving on interest... I could see intentional usage for a large purchase or the yah know hitting the oscillating air moving device...

That's one of the reasons I have the NFCU Platinum. If I'm ever going to carry a balance, that is certainly where it will land. On top of the regular low rate, that card is also known for 0%, $0 fee transfers being available often.

Re: NFCU APR Reduction

Anonymous — Thu, 23 Nov 2017 04:44:20 GMT

I want one. Our best is Amex BCP at 13.xx

Re: NFCU APR Reduction

Adkins — Thu, 23 Nov 2017 05:51:41 GMT

@UncleB wrote:
I sent NFCU a SM asking if they could check my Platinum MasterCard to see if I was eligible for a lower rate. I was at a respectable 10.99% and was hoping to get a couple points knocked off that; my reduction last year was 1%. ( I sent a SM last week but I was a few days too early; honestly I forgot about it until today.)

After an hour or so they replied that my new APR is 6.99%.

While not a big deal (I seldom carry a balance) it's nice to have the option to do so at a low rate. It's also a personal best for me... I've never had a rate this low before.

I seldom use the card (due to lack of rewards) and I had considered changing it to a Cash Rewards but I think I'll leave it as a Platinum. I have enough other rewards cards and while I would like to give Navy more of my swipes they seem to be happy with the current arrangement (and so am I). For reference, my EQ FICO 9 as reported by NFCU is 775.

Hopefully the data point will help others.

That's awesome, UncleB - congratulations!

I was thinking about apping for this card in 6-10 months. I'm not interested in their Amex card at all. I'm looking for another solid base card with no fee, for when I shed a few cards next year.

Re: NFCU APR Reduction

galahad15 — Mon, 27 Nov 2017 20:20:05 GMT

Congratulations on the amazing APR reduction UncleB!

Re: NFCU APR Reduction

K-in-Boston — Mon, 27 Nov 2017 20:28:06 GMT

Wow, somehow I missed this. Glad it got bumped.

Congrats, @UncleB, and thank you for the data point. I was happy to get the low 10.x% for my Flagship and DW was happy to get the low 8.49% on her Platinum (before they dropped the floor on it, of course). Certainly helps to know that she can likely also get the same deal you got in 2018.

I do believe that card is ultimately the lowest APR card readily available to a mass audience. (While there are limitations, NFCU still has 8 million members and growing so I consider that mass.) There's the FNBO prime for life card, but that has an AF and unless you are carrying a balance and can't get other low/no APR offers elsewhere it doesn't really make sense.

Re: NFCU APR Reduction

Anonymous — Mon, 27 Nov 2017 21:00:26 GMT

@UncleB wrote:
I sent NFCU a SM asking if they could check my Platinum MasterCard to see if I was eligible for a lower rate. I was at a respectable 10.99% and was hoping to get a couple points knocked off that; my reduction last year was 1%. ( I sent a SM last week but I was a few days too early; honestly I forgot about it until today.)

After an hour or so they replied that my new APR is 6.99%.

While not a big deal (I seldom carry a balance) it's nice to have the option to do so at a low rate. It's also a personal best for me... I've never had a rate this low before.

I seldom use the card (due to lack of rewards) and I had considered changing it to a Cash Rewards but I think I'll leave it as a Platinum. I have enough other rewards cards and while I would like to give Navy more of my swipes they seem to be happy with the current arrangement (and so am I). For reference, my EQ FICO 9 as reported by NFCU is 775.

Hopefully the data point will help others.

Yowser! Now that is one fine APR! Big Congrats!

Re: NFCU APR Reduction

joltdude — Tue, 28 Nov 2017 04:27:50 GMT

@K-in-Boston wrote:
Wow, somehow I missed this. Glad it got bumped.

Congrats, @UncleB, and thank you for the data point. I was happy to get the low 10.x% for my Flagship and DW was happy to get the low 8.49% on her Platinum (before they dropped the floor on it, of course). Certainly helps to know that she can likely also get the same deal you got in 2018.

I do believe that card is ultimately the lowest APR card readily available to a mass audience. (While there are limitations, NFCU still has 8 million members and growing so I consider that mass.) There's the FNBO prime for life card, but that has an AF and unless you are carrying a balance and can't get other low/no APR offers elsewhere it doesn't really make sense.

Actually I have an 8.49 card from HFCU but they don't seem to cater to folks with a fistful of cards... A few members on myfico seemed to be slighted that they werent approved... Really think folks are convienently forgetting theres more to credit than just your score.. Banks dont want to extend credit that isnt going to be used..... esp some more conservative CUs.... and some of us have gotten used to our scores open the door to everything when this is not always the case...