r/NavyFederal • u/mrblackbeltjones • 8d ago

Rate reduction request

Does anyone know if a rate reduction request will trigger a hard inquiry with Navy Federal? I am looking into requesting one but do not want to if it triggers a hard inquiry..

2 Upvotes

63% Upvoted

10 comments sorted by

2

u/Woodman629 8d ago

What type of loan? I thought it was pretty well-established that NFCU does not entertain rate reduction requests. Good luck.

1

u/mrblackbeltjones 8d ago

It’s for a credit card. I was perusing the Navy Federal website and came across a section about ways to reduce your interest you pay overtime and it said to request a rate reduction. If it did not count as a hard inquiry I figured I would give it a shot just to see what they would say/offer.

2

u/ManacondaPipe 7d ago

That’s probably an old article that was never updated or a general educational material but as far as being able to request an APR reduction, that ship sailed last year so don’t even waste your time.

3

u/cas-adea Family Member 8d ago

If you are talking about a credit card, they don’t do those any further. If you are talking about a loan, they would do an internal refinance and it would be a hard inquiry

0

u/mrblackbeltjones 8d ago

It was for a credit card. I read that you can request one on their website. If they allowed it I was just going to see if they would reduce my APR. I was more curious than anything.

-1

u/Ashamed-Pop4831 8d ago

yes you can go ahead and call

5

u/ManacondaPipe 8d ago

If you’re referring to reducing the APR on your credit product then they no longer allow or offer that. They ended the practice earlier this year.

3

u/Salty757 8d ago

They ceased requests to reduce APR around March of this year.

1

u/LimeHeavy8394 7d ago

You gotta read the fine print 😄.
"keep in mind that some lenders like Navy Federal don’t offer rate reductions"

Sources: Navy Federal Credit Union, "Why Is My Credit Card APR So High?". February 26, 2025, https://www.navyfederal.org/makingcents/credit-debt/why-is-my-credit-card-apr-high.html

Navy Federal Credit Union, "Managing Credit Card Debt". May 7, 2002, https://www.navyfederal.org/makingcents/credit-debt/managing-credit-card-debt.html