NFCU PLATINUM CARD APR INCREASES FROM 10.2 % TO 18%

[Rebuild2019]

I received an email from Navy Federal advising effective 10/1/2025 the APR on my Platinum will increase from 10.2 % to 18%. The email also mentions my Credit Limit will decrease. My credit limit is 24,000. 

I have no idea why. I have no lates or issues with the account. I just paid the account off a few months ago. I was going to use this account for a large purchase I will be making. NOTE I said was. This card will go in the  sock drawer. The email did say this is due to the economy. 

I have had no issues with any other accounts. No lates. I normally pay my cards off before the statement cuts. My utilization is at 1% . 

I received the email this morning. Right now I'm happy with my credit and finances so I'm not going to worry about it. Just thought I would share this. 

[JoeRockhead]

Did they say what they were decreasing your limit to?

[Rebuild2019]

@JoeRockhead  I don't know what the limit will be decreased to yet. I suppose that will come in a different email. Really strange. I have had no issues that I know of. Always pay my bills and if it's a big purchase I always pay well over the minimum so I can pay it off. 

[JoeRockhead]

@Rebuild2019 I have to say my curiosity would get the better of me here to where I'd at least call them and say... what's up?. 

[Rebuild2019]

@JoeRockhead I may call and I may remember where I am now. 

[coldfusion]

Is there something specific in your email advising of an actual CLD or are you thinking the "We're also revising the Your Credit Limit and the Maximum Amount You Owe Navy Federal section to clarify when a credit limit change may occur." sentence means you're definitely getting one?   That sentence in itself is just giving notice of an upcoming change to the T&C.

[Rebuild2019]

@coldfusion  It says

We're also revising the Your Credit Limit and the Maximum Amount You Owe Navy Federal section to clarify when a credit limit change may occur."

[Vinjints]

Did you use the card for a large BT? If so, what was the total UTI on the plat and how long did you carry it before paying it off?

[coldfusion]

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@Rebuild2019 wrote:

@coldfusion  It says

We're also revising the Your Credit Limit and the Maximum Amount You Owe Navy Federal section to clarify when a credit limit change may occur."

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That's just a mandated notice to inform that they're also making an update to the Terms & Conditions that will take effect at the same time as the APR revision.  That isn't a notice of a credit limit decrease. 

[Rebuild2019]

Thanks @coldfusion