Navy PC questions

[Anonymous]

I'm a couple years into my rebuild and want to reach a point where I have a rewards card for daily purchases with a modest limit, and higher limit, low interest card for unexpected / pay over time expenses.

To line up on that path, I'm PC'ing my first Navy card from Platinum to CashRewards and when I'm ready I'll app for a second card / Platinum and maybe shift limits around so my CashRewards limit is 4x my monthly spend (25% utilization) with the remaining credit on the Platinum.

I completed the process by SM and the rep advised me of the adjusted interest rate, new cards with new numbers will be sent, old cards will work until new ones are activated, and transactions with my stored (old) card number will be honored for 30 days.  I'm curious if anyone out there can answer these questions:

- I wonder how my average age of account / age of youngest account will be affected by this.  How does credit reporting work?  Is it a new account with a fresh start date or does it report under the old account?

- I wonder how doing a PC affects eligibility for CLIs and interest rate reductions.  Does the 91/3 or 180 clock reset when the new cards are issued?  Does the annual "call in for an interest rate reduction" anniversary date continue to be the 1 year date of the old card or does it reset too?

I would ask Navy but I'm paranoid; where I work when someone external asks atypical questions about internal processes and procedures we red flag them.

[Kforce]

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@Anonymous wrote:

- I wonder how my average age of account / age of youngest account will be affected by this.  How does credit reporting work?  Is it a new account with a fresh start date or does it report under the old account?

Do not have Navy, however most report age, date of opening, etc with original account's info (No change).

- I wonder how doing a PC affects eligibility for CLIs and interest rate reductions. 

Does the 91/3 or 180 clock reset when the new cards are issued?  Does the annual "call in for an interest rate reduction" anniversary date continue to be the 1 year date of the old card or does it reset too?

No clue, need members with Navy and experience

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[M_Smart007]

I believe everything was anwered in post #2

with the exception, that APR's are different on CR vs Platinum.

Platinum will go as low as 5.99% and CashRewards 9.65% at the lowest.

There was a DP by @Anonymous , that when He did a PC a while back, they actually increased His APR.

So that is something to keep in mind.

I don't think anything else changes? (someone please correct me, if I am wrong)

[Anonymous]

Yeah other than the potential for an APR hike, there's no negative. I PC'd my cashRewards to More Rewards and back to cashRewards 6 months later and the only thing that was affected was my APR went from the lowest 11.4% on cashRewards to 17.24% on More Rewards. Still was able to request CLIs and a year later they dropped me from 17.24% to 9.65% thanks to the prime rate reductions bringing the lowest APR down from 11.4% to 9.65%. 

[Anonymous]

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@Anonymous wrote:

Yeah other than the potential for an APR hike, there's no negative. I PC'd my cashRewards to More Rewards and back to cashRewards 6 months later and the only thing that was affected was my APR went from the lowest 11.4% on cashRewards to 17.24% on More Rewards. Still was able to request CLIs and a year later they dropped me from 17.24% to 9.65% thanks to the prime rate reductions bringing the lowest APR down from 11.4% to 9.65%. 

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The base interest rate for Platinum is 5.99% and I was +7 at 12.99%.  Since the base interest rate for Cash Rewards is 9.65%, I expected my new interest rate to be 9.65 + 7 = 16.65%.  I was pleasantly surprised it turned out to be 14.99%, a narrower spread of 5.34%.

When the account reaches 13 months, I'll call in and request a rate reduction.  No guarantees, but no downside to asking.

[Matt9543]

I opened a More Rewards card last September, and product changed it to the Flagship rewards in Feburary. I was told on the phone Thursday that since my APR changed back in February, I have to wait a year from February now to request an APR reduction.