topic Re: Navy Platinum anniversary APR reduction! in Credit Cards

Navy Platinum anniversary APR reduction!

KatSoDak — Sat, 13 Mar 2021 02:19:08 GMT

Yesterday my NFCU Platinum hit the one year mark. I called this morning and asked for an APR reduction. Yes! Offered a 2pt reduction to 6.99%

I've been very happy with the 8.99% granted when I opened the card in March 2020 but thought If I could get it a bit lower it would benefit me even more since I do carry a balance sometimes.

FICO Equifax 9 from Navy is 808 today. It was at 830 in January before I paid off my only open car loan. CL is 12,000 which has grown from opening CL of 5,400 via two CLIs.

Now this card is my lowest APR card, moving Simmons Bank Visa into 2nd place at 8.75%

Re: Navy Platinum anniversary APR reduction!

AllZero — Sat, 13 Mar 2021 02:20:47 GMT

Congratulations on your APR reduction!

Re: Navy Platinum anniversary APR reduction!

M_Smart007 — Sat, 13 Mar 2021 04:15:45 GMT

Congratulations on getting your APR reduced!

Re: Navy Platinum anniversary APR reduction!

Mr_Mojo_Risin — Sat, 13 Mar 2021 14:34:02 GMT

That sounds pretty good! Very nice indeed.

Next month my Cash Rewards will be a year old, I'll be putting a call in to request mine to be lowered.

It's at 17.49, luckily I don't carry any balances but you never know what could come up.

Re: Navy Platinum anniversary APR reduction!

cashorcharge — Sat, 13 Mar 2021 16:31:23 GMT

That's terrific! Congratulations on your APR reduction approval!! 🎉🥂

Re: Navy Platinum anniversary APR reduction!

Credit4Growth — Sat, 13 Mar 2021 22:54:27 GMT

That is a sweet reduction, congrats to you!

Re: Navy Platinum anniversary APR reduction!

lhcole77 — Sun, 14 Mar 2021 06:27:27 GMT

Congrats @KatSoDak Lowering APRs is always fun.

Can someone remind me, please - if my card turns 5 years in June, do I need to wait until then to ask? Or can we ask at any point after first anniversary?

Re: Navy Platinum anniversary APR reduction!

Credit4Growth — Sun, 14 Mar 2021 06:31:23 GMT

Adding my .02 cents...

I have always been told by CSRs and have read that requesting a rate reduction can be approved once per year.

Re: Navy Platinum anniversary APR reduction!

Anonymous — Sun, 14 Mar 2021 07:15:19 GMT

Congratulations on your APR reduction and your asking for it! 🎉

Re: Navy Platinum anniversary APR reduction!

KatSoDak — Sun, 14 Mar 2021 13:51:38 GMT

@lhcole77 wrote:
Congrats @KatSoDak Lowering APRs is always fun.

Can someone remind me, please - if my card turns 5 years in June, do I need to wait until then to ask? Or can we ask at any point after first anniversary?

The CSR who helped me volunteered info at the end of the call, that I can ask for another rate reduction after the next anniversary date of this card.

A while back I asked via NFCU messaging when card would be elligible for a rate reduction and if carrying a small balance at the time would affect me being approved for a reduction. I was told any time after 1 year anniversary I could ask for APR reduction and "a reasonable balance would not have any impact on the APR reduction".

Re: Navy Platinum anniversary APR reduction!

SPChaser — Sun, 14 Mar 2021 14:00:40 GMT

Congrats!!! I look forward to the day I can reduce my APRs as well.