Fico Score for Top Tier NFCU interest rates

[cahoot2005]

Anyone here know the criteria for getting the top tier of interest rates on CC's with Navy Federal?  I have had a personal and business card with them for over 2 years now, and have good limits.  My credit score has increased significantly lately and I am sitting at 788.  I know they are good to give you an interest rate reduction every so often, so I was wondering if 788 would take me all the way to the top tier, or should I wait a few months and inch it up more first?  Getting the personal card pushed from 8.99 to 5.99 would be pretty sweet.

[Anonymous]

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@cahoot2005 wrote:

Anyone here know the criteria for getting the top tier of interest rates on CC's with Navy Federal?  I have had a personal and business card with them for over 2 years now, and have good limits.  My credit score has increased significantly lately and I am sitting at 788.  I know they are good to give you an interest rate reduction every so often, so I was wondering if 788 would take me all the way to the top tier, or should I wait a few months and inch it up more first?  Getting the personal card pushed from 8.99 to 5.99 would be pretty sweet.

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@cahoot2005 I can't recall what my score was when I had mine reduced, but I think it was around what yours is. Maybe some other members will chime in. 

[AllZero]

I don't know the exact criteria.

Send NFCU a secure message and request it. One is eligible for APR reduction on the anniversary date of account open.

[Anonymous]

That’s what I did and it was granted.

[AverageJoesCredit]

I dont believe ones fico score necessarily  qualifies you for their best rate . I think its more based off your history with them in combination with other known  and unknown factors.  At 8.99 your next approved request should get you to that 5.99 imo since Navy often likes to drop considerably.  The only way to know for sure is actually requesting one. My last request was denied but was told check back in a month or two  so ... Could be wrong but there's virtually no difference between a 788 and a 800 score. 

[K-in-Boston]

Gotta agree with @AverageJoesCredit.  APRs are never determined by credit scores alone.  Quite common to see someone with an 800 get a higher APR than someone with a 700 if the 800 is say an aged and thick profile with lots of recent credit-seeking and the 700 is a young and thin profile without much recent credit-seeking.

[JL276]

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@K-in-Boston wrote:

Gotta agree with @AverageJoesCredit.  APRs are never determined by credit scores alone.  Quite common to see someone with an 800 get a higher APR than someone with a 700 if the 800 is say an aged and thick profile with lots of recent credit-seeking and the 700 is a young and thin profile without much recent credit-seeking.

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I agree. When I joined Navy last year my scores were around 670 b/c of medical collection I had no idea about, thankfully it's since been removed. Both of my Plats got the lowest APR 5.99 and have grown nicely, at the time I only had two other cards that I'd gotten over a year and a half earlier. If my approvals mean anything, I'd say APR is not hugely based on score with them. 

[KJinNC]

I had 740+ scores when I joined. I was denied for a Flagship (twice, actually) and approved for CashRewards at $1,000/14.99%. It has since had a 3x CLI to $3,000. To be clear, my profile is weird today and was even weirder then. I say that to say this. In most cases, your FICO score is one of many items considered, and not the most important. I think NFCU puts extra weight on your relationship with them.

[SirMilo]

It's difficult to say what the requirements are exactly since it is fairly obvious that there are variables and case by case scenarios.

In my case, I can only assume it was either my credit score and/or the multiple accounts I set up with them even though there are DPs that indicate that may not be the case. They gave me a card with the lowest interest rate after only a single month of membership with minimal income while being unemployed and no activity on any of my open NFCU accounts. My situation certainly affected my SL but I still ended up with the lowest APR. 

Having said this, my credit score at the time was over 800 and my DTI was nonexistant with less than $50 total CC debt and house/cars paid in full.

[Anonymous]

I'm fairly certain now that to get the lowest you have to have an 800+ score. I asked for a rate review last Jan and they denied it (my platinum apr was 6.99 at the time). I asked for my spouse and they were reduced down to 5.99. My score was mid 790s and spouse was 800+.

I just asked again. This time was score was sitting at 812 according to their fico model and they redcuded it down to 5.99. Excellent and long history of heavy nfcu product use, I got them at 20 when in the navy.

let us know what happens!