NFCU PC interest rate......ouch!

MAZDA3 · ‎03-13-2020

So I totally forgot that Costco does not take anything but Visa, as I was standing in line ready to pay for something! Fortunately I live about a mile away and had a visa at home, problem solved. And I needed to use that card to prevent inactivity anyhow. But it does not earn rewards so that's a problem.

Called NFCU and they gladly PC'd my Cash Rewards Mastercard (11.15%) to the Visa version. But when he told me the new interest rate I nearly fell out of my chair; 18 whopping %.

I was like ummm this has to be a mistake, all of my scores are in the 790s to low 800s. No baddies on any report. The agent couldn't explain it.

Good thing I pay my cards off every month LOL.

Anonymous · ‎03-13-2020

Thats a big jump. But as you stated, you PIF so it wont affect you unless you start to carry a balance. Also, NFCU does allow for apr reductions, therefore in time, it could gradually lower.

M_Smart007 · ‎03-13-2020

@MAZDA3 wrote:
So I totally forgot that Costco does not take anything but Visa, as I was standing in line ready to pay for something! Fortunately I live about a mile away and had a visa at home, problem solved. And I needed to use that card to prevent inactivity anyhow. But it does not earn rewards so that's a problem.

Called NFCU and they gladly PC'd my Cash Rewards Mastercard (11.15%) to the Visa version. But when he told me the new interest rate I nearly fell out of my chair; 18 whopping %.

I was like ummm this has to be a mistake, all of my scores are in the 790s to low 800s. No baddies on any report. The agent couldn't explain it.

Good thing I pay my cards off every month LOL.

They bumped @Anonymous's APR up on a PC also, Don't quite remember how much?

Anonymous · ‎03-13-2020

@M_Smart007 wrote:
@MAZDA3 wrote:
So I totally forgot that Costco does not take anything but Visa, as I was standing in line ready to pay for something! Fortunately I live about a mile away and had a visa at home, problem solved. And I needed to use that card to prevent inactivity anyhow. But it does not earn rewards so that's a problem.

Called NFCU and they gladly PC'd my Cash Rewards Mastercard (11.15%) to the Visa version. But when he told me the new interest rate I nearly fell out of my chair; 18 whopping %.

I was like ummm this has to be a mistake, all of my scores are in the 790s to low 800s. No baddies on any report. The agent couldn't explain it.

Good thing I pay my cards off every month LOL.
They bumped @Anonymous's APR up on a PC also, Don't quite remember how much?

I went from lowest (11.4% at the time) to 17.24%.

I wouldn't worry about it much @MAZDA3 because you can ask for a reduction in a year. I asked and they dropped me back to 11.15% once that year was up.

minski · ‎03-15-2020

Interesting. I PC'ed from Visa to Mastercard and my rate stayed the same. May be due to the timing of the PC when economy was a bit more stable. I PC'ed Nov 2018.