PenFed Platinum Visa - Only a $500 CLI on a $1000 card?

[Thorin]

I've heard that PenFed is conservative, but this is ridiculous.

I have a $1000 limit card with them that I use mostly for gas and car maintenance. My typical charges in a month are around $200-$500, so the low limit of $1000 was fine for that. I was hoping to phase out my USAA Card ($4500) and use this one as my every day card, since the rewards are better. I've been with them a little under a year, paid in full every month and have never had a late payment or had to pay interest.

Is this something to expect from a conservative lender like PenFed or is there a shot at getting them to reconsider?  I've also not received anything in the mail indicating the increase, what the increase was or how it was decided upon, etc yet and it'd been a few weeks now.

[RyVision]

PenFed is very conservative as you said.  They like to see a long history and somewhat high income (above average at least).  If you want a triple CLI with them within a year, you most likely would have to submit proof of income (unless your AAoA is well over 5 years and spotless and you have $5k+ CLs on your reports).

[UFGuy2006]

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@RyVision wrote:

PenFed is very conservative as you said.  They like to see a long history and somewhat high income (above average at least).  If you want a triple CLI with them within a year, you most likely would have to submit proof of income (unless your AAoA is well over 5 years and spotless and you have $5k+ CLs on your reports).

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Right. Also, from my experience once you pass the 1 year  mark with them they seem to ease up on the purse strings. I say stay patient and try again after a full year.