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NFCU Product change HP?

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Valued Member

NFCU Product change HP?

Hi All!
What do you guys and gals think of a PC to Platinum from say Gorewards? Is it a hard pull and how does it show up on reports? Thanks.
Message 1 of 13
12 REPLIES 12
Established Contributor

Re: NFCU Product change HP?


@GStringVioLynn wrote:
Hi All!
What do you guys and gals think of a PC to Platinum from say Gorewards? Is it a hard pull and how does it show up on reports? Thanks.

PC's with NFCU aren't hard pulls. I believe they'll let you PC your existing card up to twice a year (I know I have at least). If the platinum isn't serving a purpose and one of their other rewards cards would, then change it. Your card number may change (if you go from Visa to MC, or MC or Amex, or any change like that), but your credit report remains as is. 

 

The only folks that would know you've changed it up would be NFCU and whomever will listen to you, but they don't share changes like those with CRA's. YMMV, and someone else might chime in with other info. Good luck!

 

*Your post might be moved to another section (Credit Cards vs Approvals)

Message 2 of 13
Established Contributor

Re: NFCU Product change HP?

PC'd my cashRewards to a Flagship last week.  Kept the same card number so nothing different will show up on reports.  No HP.

EX680 TU 659 EQ 691
Cap1 QS-$4,500 Chase Freedom Visa- $800 Chase Freedom Unlimited- $500 Victoria's Secret- $2000 Citi DC- $800 Amazon Store Card- $3,500 AMEX Hilton Honors-$1,000 Discover It-$1,000 Wal-Mart MC $750 Chase Sapphire Preferred-$5,000 NFCU CashRewards $10,000 AMEX BCE-$1,000 AMEX PRG-NPSL
Auto Loan Opened 2-5-16 $300/$5500
Message 3 of 13
Valued Contributor

Re: NFCU Product change HP?

PC’d my cashRewards to More Rewards last month and obviously got a new card number but they sent me a letter that my cashRewards would still work for 30 days in addition to the new More Rewards and any charges would be merged and my credit reports were just updated with the new limits since I shifted limits at the same time too. 

 

Really painless. No HP or anything but I did get an APR hike from 11.9% to 17.24%. 



Scores 1/1/19:
Scores 2/11/19:

Hover over my cards to see my limits!
Goal: Garden... and garden... and garden.
Message 4 of 13
Contributor

Re: NFCU Product change HP?

No change....No HPs...APR could change, no SUBs....

Message 5 of 13
Valued Contributor

Re: NFCU Product change HP?


@Saeren wrote:

PC’d my cashRewards to More Rewards last month and obviously got a new card number but they sent me a letter that my cashRewards would still work for 30 days in addition to the new More Rewards and any charges would be merged and my credit reports were just updated with the new limits since I shifted limits at the same time too. 

 

Really painless. No HP or anything but I did get an APR hike from 11.9% to 17.24%


This is the trend.  As interest rates rise across the financial sector, banks and credit unions are looking for excuses to raise the APRs on their current credit cards.  A product change provides such an excuse, and even a consumer-friendly institution like NFCU takes advantage of it.  My advice would be not to request product changes if your current card has one of those great low APRs from a few years ago.

Chase Sapphire Reserve • PenFed Power Cash Rewards • and five cards in the sock drawer

No CC debt • No bonus chasing • No app sprees • No gift cards • No AZEO • No airline incidentals • No hotel cards • No store cards • No business cards • No authorized users
Message 6 of 13
Valued Contributor

Re: NFCU Product change HP?


@UpperNwGuy wrote:

@Saeren wrote:

PC’d my cashRewards to More Rewards last month and obviously got a new card number but they sent me a letter that my cashRewards would still work for 30 days in addition to the new More Rewards and any charges would be merged and my credit reports were just updated with the new limits since I shifted limits at the same time too. 

 

Really painless. No HP or anything but I did get an APR hike from 11.9% to 17.24%


This is the trend.  As interest rates rise across the financial sector, banks and credit unions are looking for excuses to raise the APRs on their current credit cards.  A product change provides such an excuse, and even a consumer-friendly institution like NFCU takes advantage of it.  My advice would be not to request product changes if your current card has one of those great low APRs from a few years ago.


Yeah I shot it down the first time but when I realized I could shuffle limits around, I opted to move $5500 of the limit to my 8.24% Platinum and just make the More Rewards a $2000 grocery card. 

 

It is definitely disappointing that they hiked it so much for a PC but my EQ9 has also dropped from 680 to 658 because I paid off my only installment and I’ve added new accounts so it’s whatever. My immediate desire for a grocery card outweighed my desire to keep my APR. If I didn’t have my QuickSilver for another 1.5% card if something ever happens with my PayPal Cashback, I wouldn’t have done the PC. 

 

It is definitely something that you should expect though when you PC and if you don’t ask them about it, there’s a chance they will forget to inform you and you won’t know until you check the account online or on the app so I made sure to make that the last part of my post so it sticks. 

 

They will have to pry that Platinum from my cold dead fingers though. I will always keep that card around. 



Scores 1/1/19:
Scores 2/11/19:

Hover over my cards to see my limits!
Goal: Garden... and garden... and garden.
Message 7 of 13
Highlighted
Valued Member

Re: NFCU Product change HP?

Yikes. Thanks for the advice everyone, I'll sleep on it some more and let ya know Smiley Happy
Message 8 of 13
Valued Contributor

Re: NFCU Product change HP?


@Saeren wrote:

@UpperNwGuy wrote:

@Saeren wrote:

PC’d my cashRewards to More Rewards last month and obviously got a new card number but they sent me a letter that my cashRewards would still work for 30 days in addition to the new More Rewards and any charges would be merged and my credit reports were just updated with the new limits since I shifted limits at the same time too. 

 

Really painless. No HP or anything but I did get an APR hike from 11.9% to 17.24%


This is the trend.  As interest rates rise across the financial sector, banks and credit unions are looking for excuses to raise the APRs on their current credit cards.  A product change provides such an excuse, and even a consumer-friendly institution like NFCU takes advantage of it.  My advice would be not to request product changes if your current card has one of those great low APRs from a few years ago.


Yeah I shot it down the first time but when I realized I could shuffle limits around, I opted to move $5500 of the limit to my 8.24% Platinum and just make the More Rewards a $2000 grocery card. 

 

It is definitely disappointing that they hiked it so much for a PC but my EQ9 has also dropped from 680 to 658 because I paid off my only installment and I’ve added new accounts so it’s whatever. My immediate desire for a grocery card outweighed my desire to keep my APR. If I didn’t have my QuickSilver for another 1.5% card if something ever happens with my PayPal Cashback, I wouldn’t have done the PC. 

 

It is definitely something that you should expect though when you PC and if you don’t ask them about it, there’s a chance they will forget to inform you and you won’t know until you check the account online or on the app so I made sure to make that the last part of my post so it sticks. 

 

They will have to pry that Platinum from my cold dead fingers though. I will always keep that card around. 


+1

When I asked about PCing my Plat to the cashRewards, I was told I’d lose my low interest rate too. No thank you. I just reallocated funds from my cash rewards to the Plat and all is right with the world. 

GOALS: Garden til DEC 2020 and 800 Club

Scores
JAN 2019: EX 794, TU 783, EQ 801
DEC 2018: EX 777, TU 783, EQ 799

|| AmX ED $25K || NFCU CashRewards $20K || Macy's $20K || Discover IT $15.7K || NFCU CLOC $15K || NFCU Platinum $12.5K || AmX Magnate $11.5K || CitiCostco $7K || CitiDC $6.3K ||
Message 9 of 13
Valued Contributor

Re: NFCU Product change HP?


@CreditInspired wrote:

@Saeren wrote:

@UpperNwGuy wrote:

@Saeren wrote:

PC’d my cashRewards to More Rewards last month and obviously got a new card number but they sent me a letter that my cashRewards would still work for 30 days in addition to the new More Rewards and any charges would be merged and my credit reports were just updated with the new limits since I shifted limits at the same time too. 

 

Really painless. No HP or anything but I did get an APR hike from 11.9% to 17.24%


This is the trend.  As interest rates rise across the financial sector, banks and credit unions are looking for excuses to raise the APRs on their current credit cards.  A product change provides such an excuse, and even a consumer-friendly institution like NFCU takes advantage of it.  My advice would be not to request product changes if your current card has one of those great low APRs from a few years ago.


Yeah I shot it down the first time but when I realized I could shuffle limits around, I opted to move $5500 of the limit to my 8.24% Platinum and just make the More Rewards a $2000 grocery card. 

 

It is definitely disappointing that they hiked it so much for a PC but my EQ9 has also dropped from 680 to 658 because I paid off my only installment and I’ve added new accounts so it’s whatever. My immediate desire for a grocery card outweighed my desire to keep my APR. If I didn’t have my QuickSilver for another 1.5% card if something ever happens with my PayPal Cashback, I wouldn’t have done the PC. 

 

It is definitely something that you should expect though when you PC and if you don’t ask them about it, there’s a chance they will forget to inform you and you won’t know until you check the account online or on the app so I made sure to make that the last part of my post so it sticks. 

 

They will have to pry that Platinum from my cold dead fingers though. I will always keep that card around. 


+1

When I asked about PCing my Plat to the cashRewards, I was told I’d lose my low interest rate too. No thank you. I just reallocated funds from my cash rewards to the Plat and all is right with the world. 


Did they happen to tell you how high it was going to go? I am starting to think that it’s policy to hike the APR for a PC. Guess they would rather us just apply for a new card or reallocate limits with cards we already have. I would have gone for the More Rewards as a new card if I wasn’t positive it would be a denial since I just got the Platinum in December and the cashRewards when I joined in September. Plus I already have 5 HPs from them. 😒



Scores 1/1/19:
Scores 2/11/19:

Hover over my cards to see my limits!
Goal: Garden... and garden... and garden.
Message 10 of 13