topic Re: NFCU Adjusting Cash Advance Limits on CCs to Anyone Else? in Credit Cards

NFCU Adjusting Cash Advance Limits on CCs to Anyone Else?

Spotsy — Tue, 02 Feb 2021 02:36:41 GMT

Just noticed that my Cash Advance Limit went from 50% of the total CL to 30%. Have never used a cash advance and no derogatories on CBs. Maybe they are 'posturing' due to current economic climate? Maybe they are not likening me? :-(

anywhoo...anybody else seeing this?

Re: NFCU Adjusting Cash Advance Limits on CCs to Anyone Else?

Anonymous — Tue, 02 Feb 2021 02:42:24 GMT

Mine are are 30%. I don't recall them ever being 50% and I've had NFCU cards for about 3 years now, I think.

Re: NFCU Adjusting Cash Advance Limits on CCs to Anyone Else?

Gunnerboy — Tue, 02 Feb 2021 02:46:47 GMT

Mine is at 30%. Almost certain that mine has never been 50%.

Re: NFCU Adjusting Cash Advance Limits on CCs to Anyone Else?

Credit4Growth — Wed, 03 Feb 2021 05:25:45 GMT

Maybe the CAL were up to 50% many years ago. As long as I have been reading these forums ( approximately 3. years) what stand out to me is that CAL were mainly 30% with Navy. I am not saying that I am right just that I can barely remember the name of 1 member who did say their limit may have been higher.

Wait another day or so and maybe we can arrive at a better point of clarity from a MyFICO member who has been with Navy Fed as early than the three of us. I say it in this manner because I do beleive others may have had limits higher than 30%.

Re: NFCU Adjusting Cash Advance Limits on CCs to Anyone Else?

K-in-Boston — Tue, 02 Feb 2021 02:54:12 GMT

Looking at my statements from 2017 and my account now, my cash advance limit has always been exactly 30% on my NFCU cards.

Re: NFCU Adjusting Cash Advance Limits on CCs to Anyone Else?

Credit4Growth — Tue, 02 Feb 2021 02:58:35 GMT

@K-in-Boston wrote:
Looking at my statements from 2017 and my account now, my cash advance limit has always been exactly 30% on my NFCU cards.

And I do remember reading these when they were originally posted back in 2018.

the consensus was that Navy issues a 30% limit... at the same time I do not think we are going back far enough to meet your standing as a member.

https://ficoforums.myfico.com/t5/Credit-Cards/NFCU-Cash-Advance-Limit/m-p/5345446#M1586605

Re: NFCU Adjusting Cash Advance Limits on CCs to Anyone Else?

Spotsy — Tue, 02 Feb 2021 03:03:15 GMT

I just checked my October 2020 statement and both cards had a 50% Cash Advance limit. I have had these cards since 2015. Well...I guess I have been pulled inline with everyone else.

Why do I feel like I just ratted myself out too...LOL

Re: NFCU Adjusting Cash Advance Limits on CCs to Anyone Else?

K-in-Boston — Tue, 02 Feb 2021 03:05:39 GMT

Sounds like things must have changed at some point between 2015 and early 2017 at the latest then and they are retroactively applying it to older accounts. There was another thread recently; BECU, PenFed, NASA and many other CUs give you access to the whole shebang.

Re: NFCU Adjusting Cash Advance Limits on CCs to Anyone Else?

Anonymous — Tue, 02 Feb 2021 15:10:01 GMT

Mine has always been at 30% (and still is).

Re: NFCU Adjusting Cash Advance Limits on CCs to Anyone Else?

Anonymous — Wed, 03 Feb 2021 02:46:47 GMT

Yes, a few years ago NFCU announced that the credit card cash advance limit would be set to 30% of the credit limit but existing cards were exempt from that change.

NFCU has announced that rule will apply to all their credit cards. (Read your credit card statement for this announcement.)

I had an older card with the 50% cash advance limit. I have a newer card that had a 30% limit. I was able to transfer some of my credit limit from the new card to the old card and it still kept the 50% limit…until now.

This change simplifies things though.

Re: NFCU Adjusting Cash Advance Limits on CCs to Anyone Else?

OmarGB9 — Wed, 03 Feb 2021 05:20:54 GMT

I think Navy doesn't like me. My CA limit is $0 on both my secured and my MoreRewards Amex. 😂

Re: NFCU Adjusting Cash Advance Limits on CCs to Anyone Else?

Anonymous — Wed, 03 Feb 2021 06:15:07 GMT

@OmarGB9 wrote:
I think Navy doesn't like me. My CA limit is $0 on both my secured and my MoreRewards Amex. 😂

They must not like me neither! I just got approved for a Cash Rewards card with a very low SL of $500 and my CA limit is $0 as well. 😂

I'm not worried about it though since I never do CAs. I am grateful for the approval and opportunity to grow with NFCU! 😁

NFCU Reduced Cash Advance Limit

babbles — Thu, 18 Feb 2021 15:07:21 GMT

Just wondering, for any that have a NFCU rewards credit card if your cash advance limit was reduced as of 31 Jan 2021 or so? So my overall limit raised from 30k to 33k, cash advance limit was 15k, now it's $9900, chat rep stated as of that date, NFCU reduced all limits , I guess on that card by 30% to align with other institutions. I will call this morning to confirm that but my increase came 1 month after we bought our home, which is also financed through NFCU.

Re: NFCU Reduced Cash Advance Limit

thornback — Thu, 18 Feb 2021 15:21:17 GMT

Yes. All CA limits are now 30% of the CL. Anyone that previously had higher than 30% or equal to their CL will eventually see a reduction as they catch up to implementing for all. Your reduction not an AA incident - just coincidental timing.

Re: NFCU Reduced Cash Advance Limit

babbles — Thu, 18 Feb 2021 15:22:49 GMT

thanks for confirming! do you think it's because of how the economy is right now that maybe they fear they may see an influx of spending and people not paying CAs back?

Re: NFCU Reduced Cash Advance Limit

K-in-Boston — Thu, 18 Feb 2021 15:25:56 GMT

@babbles wrote:
thanks for confirming! do you think it's because of how the economy is right now that maybe they fear they may see an influx of spending and people not paying CAs back?

No, it appears that at some point between 2015 and 2017 they changed it to 30% for all new cards, and they have recently been making that change retroactive to older accounts. Assuming you've had your card a while?

Re: NFCU Reduced Cash Advance Limit

babbles — Thu, 18 Feb 2021 16:26:25 GMT

I've had it since 2009

Re: NFCU Adjusting Cash Advance Limits on CCs to Anyone Else?

babbles — Thu, 18 Feb 2021 16:27:30 GMT

mine was @ 50% for years!

Re: NFCU Reduced Cash Advance Limit

Anonymous — Thu, 18 Feb 2021 19:46:27 GMT

I didn't pay attention to the percentage of CA over CL. Mine is $7500 CA and $25,000 CL so it is exactly 30% on both Flag and Plat.

Re: NFCU Adjusting Cash Advance Limits on CCs to Anyone Else?

Mr_Mojo_Risin — Thu, 18 Feb 2021 22:07:30 GMT

I'm at 30% as well on both of my NFCU CC's.