@Andy77 wrote:
I have the following loans/credit with Penfed
Auto Loan for 25k
Credit Card for 5k
Checking line 500.00
I have read on here that the max they loan in credit is 50k per person.
Do they take into account my auto loan into that 50k or no because it is backed by my car and not unsecured credit ?
Have read about that figure also, but I have $39K CC and $29K auto loan, so pretty sure only unsecured credit counts.
@ZoomZoom22 wrote:I have 6 figures with them across (4) things, LOC, CC, Auto Loan(2)
I think the $50k is on a single credit card only which is interesting because I have a $50k limit on my Penfed card but a CLI button is present to increase my limit. I keep meaning to call them to see if it can go higher but haven't yet. My guess is they may allow this now as I have never had that available in the 2 years with the $50k CL.
I talked to them yesterday regarding applying for the PFCU Defender AMEX CC and was told since I have $39k on my CashRewards CC they could only grant an $11k CL (if approved). I could adjust the CLs between the 2, but could not exceed $50k total. In the end didn't need to apply.
