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PenFed Power Cash Rewards Visa Signature Card Instant Approval

Frequent Contributor

PenFed Power Cash Rewards Visa Signature Card Instant Approval

Popped up on my dashboard and I read it and looks like I would get 2% cashback, sounded good, and applied and got instant approval. MyFICO scores below from this morning. First app this year. Less than 10inq on EQ. No baddies.  I also have a PenFed Platinum Rewards Visa and wondering if I can reallocate that credit line over to the new card, anyone know if PenFed allows that? TIA!

 

PenFed CR.JPG

 

FICO April 2017.JPG

Message 1 of 17
16 REPLIES
Established Contributor

Re: PenFed Power Cash Rewards Visa Signature Card Instant Approval

Congrats on the approval! Yes you can reallocate from one card to another, but the card you are moving the credit line from has to be at a $0 balance (at least that's what I was told when I asked to do it!).

Message 2 of 17
Frequent Contributor

Re: PenFed Power Cash Rewards Visa Signature Card Instant Approval


smc4getnot wrote:

Congrats on the approval! Yes you can reallocate from one card to another, but the card you are moving the credit line from has to be at a $0 balance (at least that's what I was told when I asked to do it!).


Ahhh...ok, I have $282.45 on it right now. I can pay that off no prob. Can I transfer all of it and close it down after that? I prefer cashback over points in this case.

Message 3 of 17
Established Contributor

Re: PenFed Power Cash Rewards Visa Signature Card Instant Approval

Unless something has changed within the last 4 months, I transferred it all (unlike Amex where you have to leave $1000) and closed out the account Smiley Happy

Message 4 of 17
Valued Contributor

Re: PenFed Power Cash Rewards Visa Signature Card Instant Approval

Congrats on your approval!! Nice SL to go with it, too
State Farm Rewards (3,000) ~ Marvel MC (8,000) ~ PenFed Power Cash (5,000) ~ PenFed Promise (6,000) ~ PenFed OLOC (500) ~ Discover ($1,000) ~ Citi DC (1,700) ~ NFCU cashRewards (6,200) ~ NFCU Platinum (1,700) ~ NFCU CLOC (15,000) ~ QuickSilver Visa (10,300) ~ DCU Visa (5,000) ~ Chase Freedom Unlimited (3,000) ~ Amex Hilton Honors (5,000) ~ Amex SPG Business (3,000) ~ Amex BCE (1,000) ~ Care Credit (15,000)
Current Scores (12/21/17): 682 Transunion, 648 Equifax, 673 Experian
Message 5 of 17
Frequent Contributor

Re: PenFed Power Cash Rewards Visa Signature Card Instant Approval


smc4getnot wrote:

Unless something has changed within the last 4 months, I transferred it all (unlike Amex where you have to leave $1000) and closed out the account Smiley Happy


Lol. Ok, great. Will wait until the card pops on my dashboard, guessing tomorrow morning, and then pay off the other one too and get the new one and then call in and get a CSR to do it. Sweet! Thanks!

Message 6 of 17
Established Contributor

Re: PenFed Power Cash Rewards Visa Signature Card Instant Approval

Congratulations on the awesome approval!!!!

In the wallet:
Amex PRG ~ Amex BCE ~ Discover ~ NFCU Cash Rewards Visa Signature ~ NFCU Platinum Visa ~ NFCU Line of Credit ~ Chase Amazon Prime Visa Signature ~ PenFed Cash Rewards Visa ~ PenFed Promise Visa ~ Fairwinds Credit Union Cash Rewards Visa ~ CapOne QS1 ~ Lowes Store Card

Closed on mortgage 8/9/17!! Woot!
Message 7 of 17
Established Contributor

Re: PenFed Power Cash Rewards Visa Signature Card Instant Approval

Super congrats on your awesome PenFed approval that's one sweet SL too! 😊
Message 8 of 17
Community Leader
Super Contributor

Re: PenFed Power Cash Rewards Visa Signature Card Instant Approval

Congratulations!!! That is AWESOME!!
Message 9 of 17
Valued Contributor

Re: PenFed Power Cash Rewards Visa Signature Card Instant Approval

Great! Congrats!!  Smiley Happy

Ray

** Every Card has a Job, and Every Card does its Job **
Message 10 of 17