NASA FCU Credit Card Reduction

gingerflower · ‎07-29-2016

Sorry this happened to you Op! Wow, that is terrible!!

CreditMagic7 · ‎07-29-2016

@Anonymous wrote:
@CreditMagic7 wrote:
@Anonymous wrote:
@Anonymous wrote:
I opened a NASA FCU Platinum Cash Rewards Card earlier this year. I was instantly approved with a $25k credit line. I opened my mail today and they lowered my credit limit to $1,000. I've used the card a few times, never carried a balance, and have a 1% utilization rate on my other accounts. They cited number of recent inquiries and excessive revovling account. They did not provide any futher reasoning or a credit score. My score is around a 770-800...

I don't need the account and I'll keep it open, but it is shady. This reminds of a crappy credit union.. They kept my interest rate the same at 14.15% (their lowest, yet only a $1k limit).

Just FYI YMMV w/ NASA.
Sorry that this happened. There have been a rash of NASA card closures recently. It's something that they never used to do. I'm afaid that they could do the same to me though it wouldnt be a huge loss even though I like the looks of the card :-). Personally if I were you and they won't restore your limit I'd tell them to go pound sand and close the card.
This is so very True.

I never posted about it before now but they closed my $10K limit NASA card completely out of the blue back in the spring. It had been opened in Nov 2015 and i PIF until using a BT offer from them for Low APR for life of the transfer which was under 29% from the start.

They cited new accounts but for pity sakes those new accounts were already almost 6 months with history on them when they pulled that shenanigan.

I would recommend tread with extreme caution with NASA because it's not per say issues with customers card accounts as much as they took a HUGE DROP in Credit Union Rankings to dead last of 50. I researched this heavily because there was absolutely nothing about my history or other accounts that gave them cause to do it.
That sucks CM7 that they did that to you. Wasn't aware of their drop in rankings. That's pathetic. Looks like theyre just picking accounts randomly or have some very strange risk algorhytm

Yes lousy and quite incompetent is the exact impression that they give me but do you know the bright side of it?

It came about early enough that i have since moved well on beyond them but i will see if they reinstate things again later in the year.

You always want to see if it was something forced on them to do at that cycle and only temporary or if it's the whole hammer job.

CreditMagic7 · ‎07-29-2016

...........and Upper Marlboro, Md.-based NASA Federal Credit Union which slid 22 spots to No. 50.

https://www.snl.com/InteractiveX/Article.aspx?cdid=A-35825706-12076

longtimelurker · ‎07-29-2016

@CreditMagic7 wrote:

I would recommend tread with extreme caution with NASA because it's not per say issues with customers card accounts as much as they took a HUGE DROP in Credit Union Rankings to dead last of 50. I researched this heavily because there was absolutely nothing about my history or other accounts that gave them cause to do it.

Well, last of TOP 50, which is a little bit different from dead last, as they analysed 488 CUs

CreditMagic7 · ‎07-29-2016

@longtimelurker wrote:
@CreditMagic7 wrote:

I would recommend tread with extreme caution with NASA because it's not per say issues with customers card accounts as much as they took a HUGE DROP in Credit Union Rankings to dead last of 50. I researched this heavily because there was absolutely nothing about my history or other accounts that gave them cause to do it.
Well, last of TOP 50, which is a little bit different from dead last, as they analysed 488 CUs

So what exactly are you trying to measure?

A drop of several places sure indicates something of serious concern especially when they are still cutting credit lines and closing member accounts that have both industry supportive scores and in many cases long standing histories.

CreditCuriosity · ‎07-29-2016

Quack? NASA has been harsh lately to people. Over their head? I have no clue, but just weird what they are doing to people with really no apparent bad profiles.

08 Scores - TU: 839 - EXP:839 - EQ:838

CreditMagic7 · ‎07-29-2016

@CreditCuriousity wrote:
Quack? NASA has been harsh lately to people. Over their head? I have no clue, but just weird what they are doing to people with really no apparent bad profiles.

Well i can't really say what's happened to them with any real certainty aside from the article on rankings and the fact there's been closings as well as cutting others lines or like OP's massive chop to what was a nice limit.

I think i would have been sick too. As it is perhaps they bit off a little moe than they could chew? And a board meeting or two laid down the law to those staffers who funneled out all those lines.

They're apparantly still trying to wheel in the goods they so generously dished out.

Anonymous · ‎07-30-2016

Very revealing thread...

baller4life · ‎07-30-2016

@Anonymous wrote:
Very revealing thread...

Indeed. 😩 Keep one eye open neighbor. NASA is surely full of it.

SouthJamaica · ‎07-30-2016

@Anonymous wrote:
I opened a NASA FCU Platinum Cash Rewards Card earlier this year. I was instantly approved with a $25k credit line. I opened my mail today and they lowered my credit limit to $1,000. I've used the card a few times, never carried a balance, and have a 1% utilization rate on my other accounts. They cited number of recent inquiries and excessive revovling account. They did not provide any futher reasoning or a credit score. My score is around a 770-800...

I don't need the account and I'll keep it open, but it is shady. This reminds of a crappy credit union.. They kept my interest rate the same at 14.15% (their lowest, yet only a $1k limit).

Just FYI YMMV w/ NASA.

Makes me mad to hear a story like this.

Hard to do business with an institution you can't trust to act honorably and considerately.

When I heard about their large starting credit limits, I went and applied, thinking it would be fun to have a nice credit card with a worthwhile organization like NASA. They turned me down. I was quite disappointed, but lately I've been realizing that I was lucky they turned me down, because if I'd gotten the account, the same thing that happened to you would no doubt have happened to me.