![]() ![]() It's something that they never used to do. There have been a rash of NASA card closures recently. They kept my interest rate the same at 14.15% (their lowest, yet only a $1k limit). I don't need the account and I'll keep it open, but it is shady. They did not provide any futher reasoning or a credit score. They cited number of recent inquiries and excessive revovling account. ![]() I've used the card a few times, never carried a balance, and have a 1% utilization rate on my other accounts. I opened my mail today and they lowered my credit limit to $1,000. I was instantly approved with a $25k credit line. I just set up our first monthly payment in our bank account today and transferred another chunk of money to pay off another card by the end of the month.I opened a NASA FCU Platinum Cash Rewards Card earlier this year. We probably finished the process in about a month. They were pretty easy to work with over at Fairfax FCU. We had spoken with the broker we worked with at George Mason Mortgage when we bought our home and then refinanced a year later, and he didn't have any products to offer us but recommended we call the credit union. Their national office obviously did not agree. Our bank kept turning us down as our LTV wasn't quite high enough (we put 10% down with a VA Loan because we needed extra cash to do some up front renovations), even though the local people kept telling us that there shouldn't be any problems. We had been trying for a year to get a HELOC to help pay off the roof we had put on our house a year after moving in plus additional debt that we have incurred over the past year (damn cars, fertility treatments, etc). ![]() Hi, we just did a recent HELOC through Fairfax Federal Credit Union after looking into Transportation (another that has been recommended on previous threads). ![]() Are you also shocked to learn that the best rates are reserved for people with good credit? The best rate is always reserved for the best loan to home value, and that repayment requirement is typical too. Seriously? How stupid are you? "No closing costs" doesn't apply to the cost of an appraisal. So far I am very disappointed with their service: I am still hoping we will close but if not - just as well!Īnonymous wrote:We are trying to get one right now. Their excuse for the lack of follow up is that their loan volume is very high. The worst part is their apparent lack of interest (I dropped the ball for a couple of weeks due to travel - NOTHING from them - I basically have to email weekly to get status). They are also not up front about some other things (prime rate is only if Loan to home value is low otherwise the interest is higher you have to repay closing cost if you close it within the first 2 years) They told us within the first year they will use purchase price (we bought our house 3 month ago) then they called us to say the drive by appraisal (they did not ask to come in) will be 30K lower than purchase and here is our counter offer for a loan. they promised no closing cost but tried to get us to pay for appraisal (come to find out, after explicitly asking, that if we drop our requested loan by less than $50 no appraisal is required). ![]()
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