Posts: 17
Registered: ‎07-16-2013

PenFed CLI & Manual Review - Statement of Record

[ Edited ]

I thought I'd pass this along to see if others have experienced the same.


I'm a new member (signed up early July) and have a checking, savings, auto loan, CD and credit card.  All were instantly approved with the exception of the auto loan refinance.  That too was approved a few days later.


The credit line i received on the card was 10,000 and while I was happy with it I did want to have more (so I could take advantage of their current BT promotion).  I called to inquire about perhaps a loan officer manually reviewing my file.  The CSR said all members were inelgible to request a credit line increase for the first year.  I accepted that for an answer and thanked the CSR.  


Fast forward a few days and I called again with a question concerning my auto loan reifnance that required a supervisor.  I again mentioned how I would like to move all my accounts to PenFed and increase my credit card limit.  She looked and said, you are a new member but your file is strong (no idea what that meant, I assume it's my score which is good but not steller like 800+, perhaps its the prior installment loans and credit cards that were PIF a while back, not sure).  She suggested I type a letter (she called it a statement of record) requesting why I wanted a CLI, how it would be used, where the funds would come from to pay the card should the unexpected occur and supply 2 paystubs.  Did all that, 3 days later my credit line went from 10K to 20K!  


Not sure what the maximum credit card limit is for PenFed but i'm much happier with this.  Most of my cards have/had a limit between 15K and 30K.


While it's a lot of effort and hoops and hurdles perhaps it may help someone else as well.

Ex: 755, TU: 798, Eq: 714
Valued Contributor
Posts: 1,524
Registered: ‎08-17-2008

Re: PenFed CLI & Manual Review - Statement of Record

Welcome to the forums! Thanks for the info and congrats on your CLI recon! PenFed is known for CLI after one year of membership. But you did good!

$100K in Credit
Last Credit Card App: 11/16/13
Valued Contributor
Posts: 1,347
Registered: ‎01-14-2009

Re: PenFed CLI & Manual Review - Statement of Record

The maximum credit card limit for PenFed is 50K.

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