cancel
Showing results for 
Search instead for 
Did you mean: 

Navy Fed APR's

tag
pakratus
Contributor

Navy Fed APR's

Do Navy APR reductions go lower than the range provided on the public website?

 

My More Rewards is eligible for a APR reduction.  It is currently at 15.15%, the range on the website is 15.15% - 18.00%.  

 

I just saw someone post here that their APR on a Flagship is 12.99%, the range on the website is 15.74% - 18.00%.  Mine is currently 15.49%?

 

Should I still request reductions?  How low does it go?

 

EDIT-  I found what might be my answer in the terms and conditions for the Flagship-

Variable Rate Information: Your APR may increase or decrease. Rates are determined and adjusted monthly on the first business day of the month by adding a Margin to the highest U.S. Prime Rate published in the Wall Street Journal on the first day of the previous month. The Margin is determined based on an evaluation of each Member’s credit history. The Margin will range from 7.99% to 18.00%.

 

If anyone has any Data Points on this, I'd love to hear them.

Message 1 of 11
10 REPLIES 10
GZG
Valued Contributor

Re: Navy Fed APR's

you can have a margin that is grandfathered lower than the current margin rates, if you PC the account or close it, any new account with have the new margin rates, so it would be higher. 

Starting FICO 8:
Current FICO 8:



0/6, 2/12, 7/24
Message 2 of 11
pizzadude
Credit Mentor

Re: Navy Fed APR's

I just checked today and their lowest advertised APR is 11.24% on the platinum card

March2010 FICO® ~ 695 TU, 653 EQ, 697 EX
Message 3 of 11
BudC2
New Contributor

Re: Navy Fed APR's

As GZG said, your rate may be grandfathered in. My Platinum rate right now is 10.49% even though the website shows 11.24 as the lowest.

Message 4 of 11
Realist
Regular Contributor

Re: Navy Fed APR's

If you don't plan to carry a balance, rate doesn't matter too much.  I have a few CU's cards that beat NavyFed, sub 10% I believe.  Don't' use them much though, but they can be found if you shop around.

 

 

 

 

$XXX,XXX in credit lines. First digit isn't a one or two.
4-5 weeks in free credit reward vacations, booked through 2028.
$X,XXX in bank rewards in only 12 months.
I like FREE...

800+ FICO.

Making all numbers dance on a financial ledger.
Abuse that score responsibility for maximum gain.
Message 5 of 11
BearsCubsOtters
Frequent Contributor

Re: Navy Fed APR's


@pakratus wrote:

Do Navy APR reductions go lower than the range provided on the public website?

 

My More Rewards is eligible for a APR reduction.  It is currently at 15.15%, the range on the website is 15.15% - 18.00%.  

 

I just saw someone post here that their APR on a Flagship is 12.99%, the range on the website is 15.74% - 18.00%.  Mine is currently 15.49%?

 

Should I still request reductions?  How low does it go?

 

EDIT-  I found what might be my answer in the terms and conditions for the Flagship-

Variable Rate Information: Your APR may increase or decrease. Rates are determined and adjusted monthly on the first business day of the month by adding a Margin to the highest U.S. Prime Rate published in the Wall Street Journal on the first day of the previous month. The Margin is determined based on an evaluation of each Member’s credit history. The Margin will range from 7.99% to 18.00%.

 

If anyone has any Data Points on this, I'd love to hear them.


So the margin is 7.99% up to 18.00% (max). So, Prime Rate is currently 7.50% + the margin of  7.99% = lowest APR 15.49% with a max APR of 18.00%

 

Someone else mentioned being "grandfathered." At some point, and I am not sure when, recently though, NFCU appears to have raised the margin for new accounts. For instance, your 15.49% vs. new cardholders' 15.74%. My Cash Rewards Plus is 14.15% but for new cardholders that raises to a minimum of 15.15%. I think it awesome that NFCU left our rates alone, at least for now. Other creditors would have gleefully raised our rates too Smiley LOL

 

I know I did not answer your question. I think a quick call or online chat with NFCU would give you the answer. 

 

Message 6 of 11
ways2go
Frequent Contributor

Re: Navy Fed APR's

I just checked my cash rewards card and it is showing a 13.95% apr.  My jan statement shows a 14.15% apr.   Last year I did send a message if I could get an apr reduction.  It was at 18%.  They lowered it to the lowest published apr at the time.   So with the prime rate going down, you rate goes down too. 

Message 7 of 11
MarkintheHV
Frequent Contributor

Re: Navy Fed APR's

My flagship is 1% lower than this advertised minimum.

NFCU Flagship Visa - 80k | AmEx Delta Reserve - $70k | Citi CCR MC - $43.5k | Citi AA Platinum MC - 17.5K


Message 8 of 11
Hipployta
Valued Member

Re: Navy Fed APR's

I just checked and my Platinum is 10.24%, More is 13.90, and Go is 18.0
FICO (01/29/2025) EX 850 I TU 839 I EQ 848
INQ: 2/12, 9/24
Mortgage: 5.5% 30 yr $412K, Auto Loan: 2024 Kia Telluride $42K, Loan: AMEX $40K
Total CL: $395K, 1% Utilization
Top CLs: AMEX Plat NSPL, NFCU Visa $48900, AMEX BCP $42900, AMEX Everyday $42900, Langley PLOC $21900, BOA Americard $20000, Langley TR $18100, Chase Prime $18000, NFCU AMEX $18000, Paypal MC $16000, NFCU MC $13100, Chase Freedom $13000, Chase Bonvoy $12000, GM Rewards $12000
Next 3 Years: Sell condo, then close on new build, pay off auto loan, then focus on paying down mortgage. Consider a HELOC, CSP, United Quest credit card, World of Hyatt, Truist or NW LOC, and/or one of the USB ards after I garden until August 2025 for 0/24
Message 9 of 11
DrewfromTexas
New Contributor

Re: Navy Fed APR's

I secure messaged them yesterday based on this thread and asked if they could lower my 14.24% apr on my flagship. I mentioned that I see comments online from people with lower rates and they messaged me back and said mine is lower than they currently offer and they cannot lower it further. For reference I have a 80k limit, only have some small auto pays for like $130 a month on it and pay it monthly so there may be no need to lower it to them based off my spend.

Message 10 of 11
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.