PenFed CLI after only a week of having the card open - another HP?

[Anonymous]

So, here is my question

i have a PenFed card which i just applied for, got the "further review" message and was then approved automatically 5 mins later. 

Today I started thinking whether i may be able to have the line increased since they use the same HP for 30 days. I called the number on the card and asked. The very nice front end girl put me on hold and said "i spoke to my loan officer. normally we use the same credit check for 90 days (I thought it was now 30) but since you are asking for a CLI there might be a new credit check if the loan officer deems it necessary" 

this was interesting. I know that getting an immediate CLI with PenFed is a long shot but was thinking i have nothing to lose. According to that girl i might lose a HP. would any underwriter actually do this? I mean, it's not like my credit went from no baddies to BK within a week. Has anyone had any experience with this?

[Creditaddict]

I thought the form that you would fill out online if you did it yourself or the form they fill out says you are "allow them to pull a hp on your credit if no credit is on file" but if credit is on file from last 30 days it will automatically just pull up that report.

[Anonymous]

Yeah that's the way i read it too. But that's not what the lady said, which surprised me 

[Creditaddict]

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@Anonymous wrote:

Yeah that's the way i read it too. But that's not what the lady said, which surprised me 

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then just do it online.

[Anonymous]

The way I interpreted it, regardless if you do it online they can pull again if it winds up with a LO. 

I still find it hard to believe that if I applied for a different product they would use the same HP but for a CLI they would pull again. I might go for it anyway. 

[Creditaddict]

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@Anonymous wrote:

The way I interpreted it, regardless if you do it online they can pull again if it winds up with a LO. 

I still find it hard to believe that if I applied for a different product they would use the same HP but for a CLI they would pull again. I might go for it anyway. 

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what im saying is that even if it goes to LO the computer pulls up the credit pull on file for them to review not pull a new one.

[Anonymous]

Well I hope you're right! 

In any case, just hit the LUV. Got instantly approved; increase from $5000 to $6000. No idea if they did a HP and won't know until the next Quizzle update in 5 months lol. If it was a HP this is lame, if it was a SP it's great lol! 

[Creditaddict]

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@Anonymous wrote:

Well I hope you're right! 

In any case, just hit the LUV. Got instantly approved; increase from $5000 to $6000. No idea if they did a HP and won't know until the next Quizzle update in 5 months lol. If it was a HP this is lame, if it was a SP it's great lol! 

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why not ask for a big increase and get counter?

[Anonymous]

PenFed does not let you ask for a particular limit, they just give you what they want. 

Interestingly, I then got an email saying "Call for identity verification"

I called and they asked a bunch of multiple choice questions about past addresses and such. Smelled like a credit pull. I asked and the lady said no, not a credit pull, these are asked only for identity verification purposes. 

Went along with it and then she said identity confirmed, I was approved for $6000. I am still skeptical that was not a HP. 

Has anyone experienced this kind of "identity verification" outside the context of a credit report pull? 

[Anonymous]

Pulled a report from EQ by annual credit report just now. No new HP, as agreed. I am happy overall with my free $1000 increase. 

For those who have (understandably) not bothered to read all messages here: 

TL;DR

- You CAN ask for a CLI with PenFed under one year and get approved. I asked for it a week later and was approved, albeit for a small increase. Probably could have gotten a lot more in a few months, but that would have cost a HP

- They used the same HP for opening account, credit card application and credit limit increase. Not even a soft the for the increase