PenFed VISA Platinum Cashback Rewards Card Approval

[Iincognito]

So I decided to apply for a PenFed VISA card. Approval was not instant but I was eventually approved for a $2,500.00 credit line. Here is what happened....

(1) Applied on 06/02/10;

(2) PenFed requested two of the most recent paycheck stubs on 06/02/10;

(3) PenFed requested a copy of my 2009 W2 on 06/03/10;

(4) Approved for $2,500.00

Looks like they wanted to make sure I made $60K per year...

[smallfry]

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@Iincognito wrote:

So I decided to apply for a PenFed VISA card. Approval was not instant but I was eventually approved for a $2,500.00 credit line. Here is what happened....

(1) Applied on 06/02/10;

(2) PenFed requested two of the most recent paycheck stubs on 06/02/10;

(3) PenFed requested a copy of my 2009 W2 on 06/03/10;

(4) Approved for $2,500.00

Looks like they wanted to make sure I made $60K per year...

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Congrats. Kinda stingy with a 60K salary don't ya think?

[Iincognito]

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@smallfry wrote:

Congrats. Kinda stingy with a 60K salary don't ya think?

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I heard they are conservative with their credit lines, but this takes the cake.

[smallfry]

Not to be too nosy but...what kinds of limits do you have on your other credit cards? They will eventually give you CLI once you have shown a positive history.

[orl2185]

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@smallfry wrote:

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@Iincognito wrote:

So I decided to apply for a PenFed VISA card. Approval was not instant but I was eventually approved for a $2,500.00 credit line. Here is what happened....

(1) Applied on 06/02/10;

(2) PenFed requested two of the most recent paycheck stubs on 06/02/10;

(3) PenFed requested a copy of my 2009 W2 on 06/03/10;

(4) Approved for $2,500.00

Looks like they wanted to make sure I made $60K per year...

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Congrats. Kinda stingy with a 60K salary don't ya think?

Congrats on the approval.

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Lol, That was the very first thing that came to mind here as well.

[Iincognito]

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@smallfry wrote:

Not to be too nosy but...what kinds of limits do you have on your other credit cards? They will eventually give you CLI once you have shown a positive history.

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No worries, happy to share...

Capital One = $500.00

Orchard Bank = $900.00

Orchard Bank = $2000.00

Barclaycard Visa = $4000.00

Utilization = <1%

I'm guessing they want to see how I play with their card...

[smallfry]

That explains things. Use it they will give you more over time. Good luck it's a great card.

[ngerasimatos]

Who did they pull? 

[Iincognito]

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@ngerasimatos wrote:

Who did they pull? 

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Equifax (SoCal).