Recently, I urged a family member to join NFCU. She was approved for their Platinum, $3000 with 8.99% APR. She used it for a balance transfer but was a little disappointed because the limit was a little low for her purposes.
All she does each month is pay off her balance gradually with small payments (a little over the minimum). She doesn't use their checking or do much else. She always pays on time but other than that she doesn't do much (unlike me, who loves, loves, loves them to death, always checking in, sending off little payments, putting in deposits, etc)!
So, she was told she could get a second Platinum and try for another balance transfer. It's been under four months since she got her first Platinum card.
This time, $12,000!!!! But with a 10.99 APR! She is OVER THE MOON! This more than covers all the money she wants to transfer, and the APR (while higher than the APR her first Navy card) is still fantastic!
Data points:
- FICO 8: 730 or thereabouts (she doesn't obsess about FICO as much as I do! LOL)
- Income: Under $20,000. (Fixed income.)
- No baddies, but util of about 35% or so? (Hence the balance transfer, she wants a break from all the interest payments.)
- VERY long and perfect credit history, AAoA (25+ years). She used to have a higher FICO score but I think some recent inquiries and the util have shaved off a few points.
She is so excited and grateful for this opportunity! NAVY ROCKS!!!!
I'm a little curious as to why she got such a higher limit, but that her APR is higher than the first time around? (8.99% on her first card, compared to 10.99% on the second one). We're not complaining, because Navy is awesome, but I'm curious!
