Go check your PenFed page --new preapprovals are back up

[Anonymous]

I am hoping to be able to sit on penfed for 6 months+ and let a few inq fall off and my scores to go up a bit. Im hoping 2 or so inq's and low util/low 700 scores will get me a CC with them!

AS for your question

"Does anyone know if I take the 25k personal line now, how it would impact the increase of the card later? I'm guessing that they want to keep the overall exposure at 50k for unsecured credit? "

I have seen a few people that i think had the 50k max on one card and also had a 25k loc (if im not mistaken) so it may just be a 50k limit on credit cards and a LOC seperate.

[silveroak]

Thanks for the response about the line. I may call back Monday and ask them. We'll see

[Woolfman]

hmm not that i was expecting anything.. but the only thing i got was a big red underlined link saying they dont have a signature card on file 

i think im close to the year mark with them .

[TangMeister]

---

@silveroak wrote:

I logged in today and got pre-approvals for  50k car loan, 39k boat or motorcycle loan, 25k personal line of credit, 25k debt consolidation loan, 25k thrifty line of credit. I just became a member in April and at that time was approved and accepted a $16,500 cash back rewards ViSA. 

I called today to ask if they could increase my credit card limit. The representative said that they only increase cards after one year, but "based on what he was seeing" that if I call back in April 2011, I should be approved for the maximum, amount of 50k. He tried to sell me on the personal line. I would rather have the credit card increase. 

Does anyone know if I take the 25k personal line now, how it would impact the increase of the card later? I'm guessing that they want to keep the overall exposure at 50k for unsecured credit? 

My scores last year in October were 639 EQ and 680 TU. due to some medical debt. I paid it and had it deleted.  As of 8/28/10, they are 800 EQ and 796 TU according to MY FICO. My income went from 85k annually to 105k annually since April of this year. However, Penfed did not know that when they pre-approved me.

---

@Anonymous really shouldn't make a difference, so long as they are ok with your DTI ratio, and income level in general, to support the full $75k in unsecured lines.  Your preapprovals will likely disappear for @ 6 months when/if you accept the LOC.  But you can definitely have both at their max limits with PenFed if your credit/income meets their min level. 

[Red1Blue]

I checked my account. No pre-approvals for me.

[CrdtLrnr]

---

@TangMeister wrote:

---

@silveroak wrote:

I logged in today and got pre-approvals for  50k car loan, 39k boat or motorcycle loan, 25k personal line of credit, 25k debt consolidation loan, 25k thrifty line of credit. I just became a member in April and at that time was approved and accepted a $16,500 cash back rewards ViSA. 

I called today to ask if they could increase my credit card limit. The representative said that they only increase cards after one year, but "based on what he was seeing" that if I call back in April 2011, I should be approved for the maximum, amount of 50k. He tried to sell me on the personal line. I would rather have the credit card increase. 

Does anyone know if I take the 25k personal line now, how it would impact the increase of the card later? I'm guessing that they want to keep the overall exposure at 50k for unsecured credit? 

My scores last year in October were 639 EQ and 680 TU. due to some medical debt. I paid it and had it deleted.  As of 8/28/10, they are 800 EQ and 796 TU according to MY FICO. My income went from 85k annually to 105k annually since April of this year. However, Penfed did not know that when they pre-approved me.

---

@Anonymous really shouldn't make a difference, so long as they are ok with your DTI ratio, and income level in general, to support the full $75k in unsecured lines.  Your preapprovals will likely disappear for @ 6 months when/if you accept the LOC.  But you can definitely have both at their max limits with PenFed if your credit/income meets their min level. 

---

Agreed.  I have a $50K CL with PenFed.  I've also had a car loan and personal loan at the same time.  If you qualify, no problem.

[haulingthescoreup]

---

@mross1080 wrote:

Where would it be when you log in? Im guessing by me asking this question it means they dont like me either.

---

After you enter your username (one screen) and then your password (second screen), you get to your Accounts page, and there it will be, toward the top, on the right:

[DI]

This month marks my first year with PenFed and still no preapproval offers.  Maybe after the statement generates 10/10 an offer may pop-up. 

[mross1080]

Thanks for the image. Sadly as I thought. They dont like me. There seems to be a lot of that going around lately.

[Anonymous]

Not feeling the love either with preapprovals. Although I just looked at my last CC statement and I've made $800 in cash back this year so far!