topic Re: I Love PenFed - preapproved offer in Credit Cards

I Love PenFed - preapproved offer

tiger67 — Mon, 02 Apr 2012 14:10:57 GMT

Last week I accepted a preapproved credit card offer from PenFed. Instead of opening a new card account, I applied the offered amount to my existing Platinum Cash Visa.

Old CL 30,000

New CL 50,000

:smileyvery-happy:

Re: I Love PenFed - preapproved offer

CS800 — Mon, 02 Apr 2012 14:13:17 GMT

tiger67 wrote:
Last week I accepted a preapproved credit card offer from PenFed. Instead of opening a new card account, I applied the offered amount to my existing Platinum Cash Visa.

Old CL 30,000
New CL 50,000

:smileyvery-happy:

Nice CL !!!!!

There is hope afterall with Penfed :)

Re: I Love PenFed - preapproved offer

ctb89 — Mon, 02 Apr 2012 14:15:09 GMT

tiger67 wrote:
Last week I accepted a preapproved credit card offer from PenFed. Instead of opening a new card account, I applied the offered amount to my existing Platinum Cash Visa.

Old CL 30,000
New CL 50,000

:smileyvery-happy:

HOLY CRAP! That's insane. Be careful though because I think you are right at the level where FICO starts to ignore it because it thinks it's a HELOC. You may want to ask for a CLD just to be safe.

Of course you can keep it and use the hell out of it since your UTIL won't be factored in.

Re: I Love PenFed - preapproved offer

LS2982 — Mon, 02 Apr 2012 14:18:46 GMT

@Tiger VERY AWESOME CONGRATS!!!

Re: I Love PenFed - preapproved offer

LS2982 — Mon, 02 Apr 2012 14:20:03 GMT

@ctb Good point for OP to consider!

Re: I Love PenFed - preapproved offer

john398 — Mon, 02 Apr 2012 14:20:20 GMT

Oh wow preapproved offers must be back at penfed huh? Haven't heard of one in a while

Re: I Love PenFed - preapproved offer

MsLadyRover — Mon, 02 Apr 2012 14:27:10 GMT

WOW! That's quite a limit. Congratulations!

Re: I Love PenFed - preapproved offer

CS800 — Mon, 02 Apr 2012 14:36:00 GMT

ctb89 wrote:
tiger67 wrote:
Last week I accepted a preapproved credit card offer from PenFed. Instead of opening a new card account, I applied the offered amount to my existing Platinum Cash Visa.

Old CL 30,000
New CL 50,000

:smileyvery-happy:
HOLY CRAP! That's insane. Be careful though because I think you are right at the level where FICO starts to ignore it because it thinks it's a HELOC. You may want to ask for a CLD just to be safe.

Of course you can keep it and use the hell out of it since your UTIL won't be factored in.

Whats the limit for consideration with FICO?

Re: I Love PenFed - preapproved offer

ctb89 — Mon, 02 Apr 2012 14:40:35 GMT

I don't recall exactly but if my memory serves me well, it was $50k or in the neighborhood. I guess you'll find out when they update your CR. :P

Re: I Love PenFed - preapproved offer

RockinRay — Mon, 02 Apr 2012 15:11:51 GMT

CS800 wrote:
tiger67 wrote:
Last week I accepted a preapproved credit card offer from PenFed. Instead of opening a new card account, I applied the offered amount to my existing Platinum Cash Visa.

Old CL 30,000
New CL 50,000

:smileyvery-happy:

Nice CL !!!!!

There is hope afterall with Penfed :)

Man - that is massive! :)

Re: I Love PenFed - preapproved offer

tiger67 — Tue, 03 Apr 2012 11:21:02 GMT

Thanks all. It will not factor into util, but I don't care. I don't carry much anyway, < 3%.

PenFed has been a great CU. I joined 2 1/2 years ago and started w/ a 10,000 cl. I also have a 25,000 loc. After a few months they started with the preapprovals every quarter. I still have car/boat/personal loans preapproved even after taking the cli.

Can't say enough good things about them.