No more Navy Federal APR reduction request allowed?

[SPChaser]

I had to speak with a Navy Federal CSR regarding a balance transfer and asked them about checking to see if I was eligible for an APR reduction on my Platinum card. CSR stated that since last week, Navy has a new policy of not allowing members to request APR reductions because, per their numbers, we tend to be at the lowest rates they offer. From my experience and others on this forum, I wouldn't agree with that at all. I have had more than 2-3% drops due to requests. Anyone else experiencing this? 

[GZG]

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@SPChaser wrote:

I had to speak with a Navy Federal CSR regarding a balance transfer and asked them about checking to see if I was eligible for an APR reduction on my Platinum card. CSR stated that since last week, Navy has a new policy of not allowing members to request APR reductions because, per their numbers, we tend to be at the lowest rates they offer. From my experience and others on this forum, I wouldn't agree with that at all. I have had more than 2-3% drops due to requests. Anyone else experiencing this? 

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new policy change, no more APR reductions

that 'we tend to be at the lowest rates they offer' was them trying to say 'we're a CU, we don't charge 29%, deal with it' 

I guess they are not a fan of people getting 10% platinums and now anybody who gets a platinum in the future will very likely be the upper end of the interest range and they won't be able to lower it overtime. 

immediately took the platinum from a top-tier low APR card, to a situational BT card you then PC at one year to a cashrewards/more rewards/flagship 

them getting rid of free FICO scores, the disaster of the website/app "upgrade" that only just stopped regularly crashing these last few weeks, this feels like them preparing for bad times ahead? 

[SPChaser]

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@GZG wrote:

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@SPChaser wrote:

I had to speak with a Navy Federal CSR regarding a balance transfer and asked them about checking to see if I was eligible for an APR reduction on my Platinum card. CSR stated that since last week, Navy has a new policy of not allowing members to request APR reductions because, per their numbers, we tend to be at the lowest rates they offer. From my experience and others on this forum, I wouldn't agree with that at all. I have had more than 2-3% drops due to requests. Anyone else experiencing this? 

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new policy change, no more APR reductions

that 'we tend to be at the lowest rates they offer' was them trying to say 'we're a CU, we don't charge 29%, deal with it' 

I guess they are not a fan of people getting 10% platinums and now anybody who gets a platinum in the future will very likely be the upper end of the interest range and they won't be able to lower it overtime. 

I was thinking the same. DM had her Platinum at 18% and with one request, she dropped to 14%. Why would I not call to request an APR reudcton with that possible of a drop available. 

immediately took the platinum from a top-tier low APR card, to a situational BT card you then PC at one year to a cashrewards/more rewards/flagship 

them getting rid of free FICO scores, the disaster of the website/app "upgrade" that only just stopped regularly crashing these last few weeks, this feels like them preparing for bad times ahead? 

Agreed. Feels like a bad omen. 

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[Vinjints]

This is the next card on my list to apply for. Following for more updates.

[crystal626]

It is becoming a pattern across the CUs that they're all tightening up. They are preparing for a recession. 

[CreditPoor]

This is a selective enforced policy and its case by case. My friends wife just got her interest rate lowered 24 hours ago upon request but his was denied today. The difference is he has a crappier profile compared to hers and she hasn't asked for a CLI in over a year and a half. She also has quite a bit more in her savings either NFCU. This leads me to believe its reviewed still case by case and not blanket policy 

[SPChaser]

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@Vinjints wrote:

This is the next card on my list to apply for. Following for more updates.

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If it's the Platinum card, I would recommend it. The Navy Platinum has been an amazing balance transfer card for us over the years, especially when planning large purchases where 0% offers are ending. 

[SPChaser]

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@crystal626 wrote:

It is becoming a pattern across the CUs that they're all tightening up. They are preparing for a recession. 

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Hoping things don't tighten too much, as CU APRs have been great compared to the big banks. 

[SPChaser]

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@CreditPoor wrote:

This is a selective enforced policy and its case by case. My friends wife just got her interest rate lowered 24 hours ago upon request but his was denied today. The difference is he has a crappier profile compared to hers and she hasn't asked for a CLI in over a year and a half. She also has quite a bit more in her savings either NFCU. This leads me to believe its reviewed still case by case and not blanket policy 

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Thanks for the DPs. I will give it another go and see what happens. I'll probably send a secure message rather than calling in this time.