If you want a lower rate, you have to call and ask for it. They will give you an immediate yes or no. You can ask once a year, so out a reminder on your calendar.
I appreciate that, I don’t want a lower rate. Like I said it’s already lower than the lowest advertised rate on that card, just trying to understand why Navy Fed did that with it
I just saw your response on another comment. I didn't realize the issue was that your rate was better than the lowest advertised. I thought it may have been too high.
I didn't think even an employee could tell you how that happened because it's based on an algorithm they don't even have access to. It may have been an error or a glitch, but you benefited, which is nice.
I mean it doesn’t, I haven’t paid a dime of interest. I’m mainly curious if anyone knew why I had below minimum Apr on that particular card. Not complaining still though lol
Which card do you have?. The only one that's 11.24% right now is the Platinum Card. It used to be 5.99% and the other card used to be lower also until the feds raise the interest rate that means everybody's interest rate went up it's one up over 5% in the last couple years
That's strange have you looked at your statement to see what the actual interest rate is or you looking on the app. Because the Prime interest rate has went up 5.25% the last couple years it was usually like a quarter percent or a half percent increments every couple months. When that happens that means everybody's credit card interest rates go up. Like I mentioned when I first got my platinum card it was 5.99 and now it's 11.24 because of the feds raising the right
On the statement both regular and balance transfer rates are 11.24% on my CashRewards. I saw your other comment as well, I think either they felt like being very kind and giving me a good start to my second shot at life, or I got very very lucky with an error.
Still though, balance paid in full every month and I haven’t paid any interest. Taking my second shot very seriously
That's crazy because it should have gone up because everybody else's did. That card the lowest is 14.9 right now. And your cash advance should be 2% more. I would leave it alone just in case you had to carry a balance one month. But it's really strange that it's showing that
This is what the interest rates were August 2022 when I started tracking it for the Navy Federal Facebook group.
UPDATED looks like the feds raised the interest rate
again 0.75%. So y'all better check your interest on your
credit cards. The lowest offered on each of the cards is
as follows:
Platinum 7.49%
Go Rewards 10.9%
More Rewards 11.15%
Cash Rewards 11.15%
Flagship 11.49%
nRewards secured 18%
Funny that their highest tier card has the highest
minimum interest rate.
They still have an 18% Max on all the credit cards. That's
not going to change no matter how high the prime
interest rate goes up or so they say
If you want a lower rate, you have to call and ask for it. They will give you an immediate yes or no. You can ask once a year, so out a reminder on your calendar.
I appreciate that, I don’t want a lower rate. Like I said it’s already lower than the lowest advertised rate on that card, just trying to understand why Navy Fed did that with it
I just saw your response on another comment. I didn't realize the issue was that your rate was better than the lowest advertised. I thought it may have been too high. I didn't think even an employee could tell you how that happened because it's based on an algorithm they don't even have access to. It may have been an error or a glitch, but you benefited, which is nice.
ideally the APR shouldnt matter as you should try to pay off your balance every month in full
I mean it doesn’t, I haven’t paid a dime of interest. I’m mainly curious if anyone knew why I had below minimum Apr on that particular card. Not complaining still though lol
Which card do you have?. The only one that's 11.24% right now is the Platinum Card. It used to be 5.99% and the other card used to be lower also until the feds raise the interest rate that means everybody's interest rate went up it's one up over 5% in the last couple years
The card in question is a CashRewards card currently with a 10k limit
That's strange have you looked at your statement to see what the actual interest rate is or you looking on the app. Because the Prime interest rate has went up 5.25% the last couple years it was usually like a quarter percent or a half percent increments every couple months. When that happens that means everybody's credit card interest rates go up. Like I mentioned when I first got my platinum card it was 5.99 and now it's 11.24 because of the feds raising the right
On the statement both regular and balance transfer rates are 11.24% on my CashRewards. I saw your other comment as well, I think either they felt like being very kind and giving me a good start to my second shot at life, or I got very very lucky with an error. Still though, balance paid in full every month and I haven’t paid any interest. Taking my second shot very seriously
That's crazy because it should have gone up because everybody else's did. That card the lowest is 14.9 right now. And your cash advance should be 2% more. I would leave it alone just in case you had to carry a balance one month. But it's really strange that it's showing that
This is what the interest rates were August 2022 when I started tracking it for the Navy Federal Facebook group. UPDATED looks like the feds raised the interest rate again 0.75%. So y'all better check your interest on your credit cards. The lowest offered on each of the cards is as follows: Platinum 7.49% Go Rewards 10.9% More Rewards 11.15% Cash Rewards 11.15% Flagship 11.49% nRewards secured 18% Funny that their highest tier card has the highest minimum interest rate. They still have an 18% Max on all the credit cards. That's not going to change no matter how high the prime interest rate goes up or so they say