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Those of you who have the penfed cards how much do you spend on them every month and how do you pay it. I have a card with $5K Cl. I always do PIF. I am wondering how much I should charge on it every month so eventually at some time in future I would get pre approved offers. What is your thoughts?
use heavily, continue to PIF.
I hardly ever use cash. Use it for everything. PIF as I do all my other accounts, except for the 0% promos.
I believe this this one will be my everyday card for a long time to come.
I,m also waiting for those preapprovals to pop up. Maybe a new car in the future.
I put between $600 - $800 on it a month. (It's my main card.) I started with a $5K CL, because I was too chicken to ask for more at the time of initial app.
It's going to get a lot less usage in the next three months, though, because Chase Freedom's new 5% categories are grocery stores, department stores, and movies. So the PenFed 2% on grocs can have a rest until the new year.
Thanks. With 5k limit, I should probably put around $1k / month and pay it off in full.