Congrats on the PenFed love!
They sure do...
...congrats!!
@Anonymous wrote:Is it normal for BT offers to result in a CLI? I receive them from Cap One all the time, but always just ignore them.
CONGRATS on the increase! Definitely worth the HP.
Thanks again everyone! Yes, LinCan certainly worth the HP. The last one back in January got me a $12.5k CLI and a new $10k card, and the one when I joined got me a foot in the door, the original $7500 line, and we were able to refi DW's auto loan from the 5% it was at with a dealer-introduced almost-local credit union to 1.99%. PenFed has its quirks (as RicHowe alluded to), but overall I have been very happy with them so far!
As for BT offers themselves resulting in a CLI, I haven't really seen that with any lender. I will say that was the key to my $12.5k CLI when I had to call to recon. It went pending and the original loan officer that saw it decided I had enough revolving credit across all lenders for my income. The BT reason I gave made the loan officer I spoke with willing to open the purse strings and since then my new app and this CLI were instant decisions by the computer.
With BoA, accepting a BT offer particularly when using a lot of the credit line (like 60-80%) seems to have done wonders in the past when asking for CLIs. In the past 13 months, I went from $8100 on one card to $75k across four cards with them, and DW went from $25k to $70k. Two of our cards (originally with MBNA) grew massive even though they haven't seen a single swipe in at least a decade and the BankAmericard that I was approved for last November started at $12k and is now at $33,600 (it was momentarily at $34,600 this summer but some of the limit was taken to open a Cash Rewards card). With Discover, paying off a large balance transfer seems to also trigger better CLIs. Unfortunately, I personally have zero experience with ever getting a single CLI across 6 cards in 20+ years with CapOne and my last card will be closed either when they close it from inactivity or by me when my utilization gets down to 8.9%.
Absolutely correct on using the same HP for a new card (or pretty much any other lending product), but I don't want to nudge Ric out of the garden. 
It really is a great 2% card. (Other than the fact that it's about the thickness of one of those flexi records we used to cut off of the back of cereal boxes - and hey, who let Mr. T sing? I pity the fool that had to listen to it twice.) I said to someone yesterday that these forums have made me completely jaded when I have a great 2% cash back card that is sock drawered because it's only a 2% card. I mean why use that when I have 3 cards (soon 4, Citi!) with 5% categories or can potentially get even more value from a points/miles card? This is the first BT offer I have had on this card since opening it. PenFed Defender always has 4.99% for 12 months with no balance transfer fee, which is a product feature rather than an actual offer. (Important to note that if a balance transfer is actually paid off in even increments over 12 months, 4.99% with no fee will actually cost you less than a 0% APR with a 3% fee.)
Very nice K Looks like Penfed enjoys your company Now if UncleB will make an appearance and include a Mask gif, my work is done here.
Ps, lol income is sufficient, all i ever get was insufficient haha
Looks like Penfed enjoys your company Now if UncleB will make an appearance and include a Mask gif, my work is done here.Ps, lol income is sufficient, all i ever get was insufficient haha