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Question about NFCU Platinum Card

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Aim_High
Super Contributor

Re: Question about NFCU Platinum Card


@CA4Closure wrote:

Not going to mention credit card but I got my rewards AND a 7.99% APR just by asking the customer service rep. I have a FICO in the 830-846 range so I felt I deserved a low interest rate. Surprisingly, she gave it to me! Previously, my interest rate was 15.95%. I threatened to close the account if they didn't reduce my interest rate to a respectable APR. 


Good for you!  Smiley Happy

 

Keep in mind, though, that Navy Federal is not your average lender.

 

Most of the time, large lenders won't deviate from the advertised rates for a card.  When they structure a credit card and their profit/loss margins, the APR is factored into the equation the bank used to build the card program.  They simply don't normally give CSR's much autonomy to deviate arbitrarily from that, regardless of what you say or who you are, 850 FICO or not.   They'll either let you walk or else would offer to PC you to a lower-rate non-rewards card. 


Business Cards


Length of Credit > 40 years; Total Credit Limits >$850K
Top Lender TCL - Chase 156.4 - BofA 99.7 - AMEX 95.0 - CITI 94.5 - NFCU 80.0
AoOA > 30 years (Jun 1993); AoYA (Aug 2023)
* Hover cursor over cards to see name & CL, or press & hold on mobile app.
Message 11 of 18
Anonymous
Not applicable

Re: Question about NFCU Platinum Card

Well guys I pulled the triggered and Apped for the Platinum card and my absolute worst nightmare came true. I got instant approved for 15,800 SL but at a 12.99% APR Smiley Indifferent

 

Wow. Now I'm just not sure what to do, the only reason I wanted the card in the first place was for the 7.99% APR ugh

Message 12 of 18
Aim_High
Super Contributor

Re: Question about NFCU Platinum Card


@Anonymous wrote:

Well guys I pulled the triggered and Apped for the Platinum card and my absolute worst nightmare came true. I got instant approved for 15,800 SL but at a 12.99% APR Smiley Indifferent

 

Wow. Now I'm just not sure what to do, the only reason I wanted the card in the first place was for the 7.99% APR ugh


Oops ... dangit.

 

"Paging all NAVY FCU Guru's ... "

 

Did they give you your FICO score?   I have been able to succesfully renegotiate APRs later on many cards.  As long as the lowest available APR is 7.99% still, you can probably get yours down to that eventually, so don't just close the card or think it is useless. 


Business Cards


Length of Credit > 40 years; Total Credit Limits >$850K
Top Lender TCL - Chase 156.4 - BofA 99.7 - AMEX 95.0 - CITI 94.5 - NFCU 80.0
AoOA > 30 years (Jun 1993); AoYA (Aug 2023)
* Hover cursor over cards to see name & CL, or press & hold on mobile app.
Message 13 of 18
Anonymous
Not applicable

Re: Question about NFCU Platinum Card


@Aim_High wrote:


Oops ... dangit.

 

"Paging all NAVY FCU Guru's ... "

 

Did they give you your FICO score?   I have been able to succesfully renegotiate APRs later on many cards.  As long as the lowest available APR is 7.99% still, you can probably get yours down to that eventually, so don't just close the card or think it is useless. 


Welp I made my bed now I gotta sleep in it. They didn't give me a score, but my Fico9 score is 739, I guess I just assumed that because they gave me the lowest APR on the more Rewards Card that it would be the same here, guess not! It's still my lowest visa APR at least, still a big bummer. Debating if it's worth calling to see if anything can be done about it, or maybe even a product change to a different card

Message 14 of 18
Anonymous
Not applicable

Re: Question about NFCU Platinum Card


@Anonymous wrote:

Well guys I pulled the triggered and Apped for the Platinum card and my absolute worst nightmare came true. I got instant approved for 15,800 SL but at a 12.99% APR Smiley Indifferent

 

Wow. Now I'm just not sure what to do, the only reason I wanted the card in the first place was for the 7.99% APR ugh


You can request a reduction in a year. The important thing is that you got a usable limit now rather than getting a $2K limit when you needed a $10K. 

This is exactly why I suggested going for it when you don't need to rely on it. The terms aren't always great when you first get approved. 

Message 15 of 18
Anonymous
Not applicable

Re: Question about NFCU Platinum Card


@Anonymous wrote:



You can request a reduction in a year. The important thing is that you got a usable limit now rather than getting a $2K limit when you needed a $10K. 

This is exactly why I suggested going for it when you don't need to rely on it. The terms aren't always great when you first get approved. 


I suppose there's no use crying over what could of been! I just got to work on getting the APR down I guess, would of loved that 7.99% right out of the gate, but nothing I can do now, luckily it's not right this second that I need it anyway, so there's time to work on it 

Message 16 of 18
Anonymous
Not applicable

Re: Question about NFCU Platinum Card

You got approved for it and NFCU will offer a low or no APR BT basically every year. Just ask for an APR reduction in a year and you'll likely get it. 

Message 17 of 18
FinStar
Moderator Emeritus

Re: Question about NFCU Platinum Card

Congrats on the approval @Anonymous. Great advice by the community on how to qualify or lower the APR in the future.

Locking this thread as you have been approved. Feel free to start a new approval thread in the Approvals forum if you would like to do so.
Message 18 of 18
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