Reapply for credit card interest rate

Home Forums Purchase Program Reapply for credit card interest rate

This topic contains 1 reply, has 2 voices, and was last updated by  TTrumble 3 months ago.

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  • #41546

    BleuBlue
    Member

    If I RE-APPLY for a new interest rate with my EXSISTING credit card, will that affect my process with NACA?

    Keep in mind that they pull my credit just to look at my credit score to see what it is, in order to determine my new credit score….

    #41558

    TTrumble
    Member

    Hello BleuBlue,

    If it is literally for the same account and only to qualify for a lower interest rate, you will be okay, since that is not opening a new line of credit. Definitely write a Letter of Explanation for the credit pull that will show up in your credit file, but you should be okay.

    Tim Trumble
    Online Operations, NACA
    ttrumble@naca.com

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