Navy Fed Credit Card Interest Rate

[Alpha_Echo_606]

Wells Fargo just raised my rate; I think this is standard for most lenders. As stated above, don't close accounts just don't use them. I’ve been fighting credit issues of some sort for the past 18 years, it’s better to let them live dormant than close them. (It’s a long story!)

On a side note, make sure you check your credit report every year!

 

[BACONATOR]

USAA bumped my rate from 8.3 to 9.9 a while back, doesn't really affect me because I don't carry a balance. Let them make their money off some other sucker.

This is why I stay away from variable interest rates.

I agree with you spekkio, but USAA has been VERY good to me and will remain my primary bank indefinitely.

I have a "variable rate" mastercard with them, and it has been at 7.75% APR for a LONG time... longer than I can remember. In fact, the only time I remember it being different was when it was a bit higher years ago.

 

[Alpha_Echo_606]

I've yet to see a fixed rate credit card, most are variable and will change on reporting status. Hence revolving credit!

 

[Flash]

I've yet to see a fixed rate credit card, most are variable and will change on reporting status. Hence revolving credit!

I have a fixed rate card with NFCU, wasn't hard to get.

 

[CommodoreMid]

BE CAREFUL BEFORE CLOSING A CREDIT ACCOUNT FOR ANY REASON.

You might be upset at NFCU for raising your rate, but closing your account probably hurts you WAY more than it hurts them. This is especially true if you don't carry a balance. Closing a credit account hurts your credit in two ways. It reduces the amount of overall credit you have extended to you. This will reduce your ratio of debt owed to credit available which will make you look like a a bigger risk to other lenders. Depending on how long you have had the card before closing it, you can also shorten your credit history. All this could lead to higher interest rates when you apply for credit in the future on something like a mortgage.

You might be pissed off at the company, but a better way to get back at them is to leave the account open and never use it. The have to pay money to service the account every month (send you bills , ect), but they get no money in return from you. Take other business you have with them (saving/checking accounts) somewhere else, but leave the credit account open.

PS. The companies have the right to change the interest rate because you gave it to them. Read the paper work you signed when you applied.

Though some cards will close on their own if you don't carry a balance and don't use it for a long enough time. Best way to deal with that is to make once purchase a month with the card so you keep the line of credit open while avoiding carrying a balance.

 

[Alpha_Echo_606]

I have a fixed rate card with NFCU, wasn't hard to get.

You Sir are lucky. I've yet to see one. My credit score is 800 and I can't get a fixed rate card.

 

[Lawman]

I've yet to see a fixed rate credit card, most are variable and will change on reporting status. Hence revolving credit!

Servicemens Civil Relief Act.

All debts from Credit Cards to Auto Loans to Home loans are fixed at a maximum of 6% interest.

 

[BACONATOR]

Servicemens Civil Relief Act.

All debts from Credit Cards to Auto Loans to Home loans are fixed at a maximum of 6% interest.

Any easy way to get my student loans back to 6%? :icon_rage

EDIT: Doesn't apply to student loans. Damn.

 

[Alpha_Echo_606]

Servicemens Civil Relief Act.

All debts from Credit Cards to Auto Loans to Home loans are fixed at a maximum of 6% interest.

Well hell, my problem is I started my credit after the Navy.

I am old and salty after all...

 

[Lawman]

Any easy way to get my student loans back to 6%? :icon_rage

EDIT: Doesn't apply to student loans. Damn.

It did on all mine...

 

[Seafort]

I need to work with someone, honestly. Once my debt was paid off, I shut all of my credit accounts down, and did the exact opposite of diversification by pooling all my money in one bank. I have CDs, checking, savings, and money market accounts, all with a large balance, but in only one bank. I do have a NFCU savings account, but I discovered it only had 88 cents in it.

My credit is still a total mess, as it hasn't been that long since I took care of it, and frankly, I don't know how to use my new found wealth to fix fix/counteract that. I now have more money saved or invested than I was ever in debt with. Surely that has to count for something...

 

[BACONATOR]

I need to work with someone, honestly. Once my debt was paid off, I shut all of my credit accounts down, and did the exact opposite of diversification by pooling all my money in one bank. I have CDs, checking, savings, and money market accounts, all with a large balance, but in only one bank. I do have a NFCU savings account, but I discovered it only had 88 cents in it.

My credit is still a total mess, as it hasn't been that long since I took care of it, and frankly, I don't know how to use my new found wealth to fix fix/counteract that. I now have more money saved or invested than I was ever in debt with. Surely that has to count for something...

Credit is a strange animal. You can have 100K in assets, yet have credit so low you couldn't get approved for a loan to buy a sandwich. I suggest doing some reading online or talk to a financial advisor at your bank (USAA is great for this)

 

[Seafort]

Credit is a strange animal. You can have 100K in assets, yet have credit so low you couldn't get approved for a loan to buy a sandwich. I suggest doing some reading online or talk to a financial advisor at your bank (USAA is great for this)

Yeah, which is why I don't understand it. I guess I'll need to do some more research, but being that I am in Kyoto, I don't really have access to my US accounts, and my Japanese credit isn't even entered into the mix. I'm probably at least another five years from having credit hits come off my record, and they're pretty big ones.

I'm not sure I could qualify for credit to rebuild my credit, despite the amount of assets I have.

Well, I am going back to the US in December, maybe I'll talk to a financial advisor then, or I might sit down with a personal banker at the NFCU locations in Yokosuka or Sasebo.

 

[scoolbubba]

Lots of commands do a financial workshop that can explain things like credit to debt ratio and ways to build credit in laymen terms. If this isn't an option, go talk to a loan officer at a bank on a strictly informational basis...don't even ask for an application until you have an idea about what path you want to go down.

 

[Sailnet18666]

Lots of commands do a financial workshop that can explain things like credit to debt ratio and ways to build credit in laymen terms. If this isn't an option, go talk to a loan officer at a bank on a strictly informational basis...don't even ask for an application until you have an idea about what path you want to go down.

Nice to know that they do, You seems to be experienced.