@aramosjr wrote:I called NFCU four times to do a product upgrade from the Cash Rewards to the Flagship and three times, I was told that I need to have the account open for a year. My Cash Reward Visa has been up for eight months. On the fourth call to product change, the NFCU rep told me that since my interest would go up they could not product change me....Not sure how I get a rep that will actually do the product change.
It's federal law. Due to predatory tactics by other issuers, the feds passed a law that during the first year nothing can be done to that credit card that would increase your cost, so its the annual fee and and the apr increase that is blocking this.
@aramosjr wrote:I called NFCU four times to do a product upgrade from the Cash Rewards to the Flagship and three times, I was told that I need to have the account open for a year. My Cash Reward Visa has been up for eight months. On the fourth call to product change, the NFCU rep told me that since my interest would go up they could not product change me....Not sure how I get a rep that will actually do the product change.
Right so it's not so much cause of the interest rate increase @aramosjr. Unfortunately you're going to have to wait the full year for a PC to the Flagship due to federal law, as mentioned above. Specifically, due to the CARD act which prevents AF increases in the first year, which of course this would count as an AF increase since you're going from a $0 AF on the cashRewards to a $49 AF on the Flagship.
Off hand, what are the perks of the flagship? I'm assuming it gets a higher limit ceiling.
Congratulations on your product change!!
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