Tourist

Credit Card - Interest Rate Reduction Analysis

When during the year does BECU typically conduct its analysis on a member’s credit worthiness to consider them for an interest rate reduction on their BECU VISA card? What FICO is needed to get the lowest current rates BECU has to offer, and are there any other considerations that go into determining whether a member’s interest rate will be lowered?
3 REPLIES 3
Community Manager

Re: Credit Card - Interest Rate Reduction Analysis

Hi @daveberry123  great question! We typically perform an annual review for Visa, line of credit (LOC), auto, boat, RV, and personal loans historically around October each year. You can find more information about our Loan Reprice Program on our website. Have a great weekend!  JohnS

Tourist

Re: Credit Card - Interest Rate Reduction Analysis

Thanks John - Appreciate the prompt response. Do you happen to have further info as to the FICO score needed to achieve the lowest possible rate, or is it a mix of other factors?

Community Manager

Re: Credit Card - Interest Rate Reduction Analysis

@daveberry123 You bet! While FICO score is part of it, I don't have the exact number required for the best rate. There are other pieces of criteria in addition to FICO that contribute to the repricing. If you've improved your credit score sufficiently, made timely payments and your account is in good standing, you may earn a better rate (if you're not already receiving our lowest rate.)