PEN FED PLOC $10K - MY FEELINGS ARE HURT..

[Anonymous]

Hey All,

So, fresh from feeling special after my loving encounter with Penelope Fed, during which she granted me
a shiny new PenFed Visa Signature Rewards card with a $29K SL, I figured I would go back for another
session and requested a PLOC (after opening a checking account). I requested $25K.
I figured it would be a good bet as she mistakenly gave me TWO CCs each with a $29K SL (I later called
back and let her know of the mistake).

After a long and enticing silence, she came back with a counter of 10K. My feelings were hurt - I wanted more,
I thought we had a connection - but she said she didn’t know me that well yet and that I could try for a CLI
“after some months of good behavior”.

I accepted and resolved that I would show her what a loyal and loving partner I could be.

But now I’m wondering should I have rejected it and re-applied just before my 90 days is up and I’ve used
the CC responsibly? Should I call and recon? Also, is it possible to move some of my CC limit to my PLOC
and then get a SP CLI on that when they do their quarterly review?  

Any thoughts folks?

H.

[Anonymous]

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@Anonymous wrote:

Hey All,

So, fresh from feeling special after my loving encounter with Penelope Fed, during which she granted me
a shiny new PenFed Visa Signature Rewards card with a $29K SL, I figured I would go back for another
session and requested a PLOC (after opening a checking account). I requested $25K.
I figured it would be a good bet as she mistakenly gave me TWO CCs each with a $29K SL (I later called
back and let her know of the mistake).

After a long and enticing silence, she came back with a counter of 10K. My feelings were hurt - I wanted more,
I thought we had a connection - but she said she didn’t know me that well yet and that I could try for a CLI
“after some months of good behavior”.

I accepted and resolved that I would show her what a loyal and loving partner I could be.

But now I’m wondering should I have rejected it and re-applied just before my 90 days is up and I’ve used
the CC responsibly? Should I call and recon? Also, is it possible to move some of my CC limit to my PLOC
and then get a SP CLI on that when they do their quarterly review?  

Any thoughts folks?

H.

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Congratulations to you!...Thanks for sharing.

[baller4life]

Congratulations on your PLOC approval. $10k is really good since they are more strict with these than their cards. You could try to call and recon limit if you like. I'm not sure if you can move limits from cards to PLOC. But, wouldn't hurt to ask.

[Anonymous]

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@baller4life wrote:

Congratulations on your PLOC approval. $10k is really good since they are more strict with these than their cards. You could try to call and recon limit if you like. I'm not sure if you can move limits from cards to PLOC. But, wouldn't hurt to ask.

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+1

[takeshi74]

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@Anonymous wrote:

MY FEELINGS ARE HURT..

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Stop taking it personally.  Limits are determined based primarily on your credit profile and income and creditor look at your risk of default by looking at your credit profile.  If any limit is lower than you were hoping for then you're presenting too much risk to that creditor.  Idenitify the items that concern the creditor and work on addressing them.

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@Anonymous wrote:

I figured it would be a good bet as she mistakenly gave me TWO CCs each with a $29K SL (I later called
back and let her know of the mistake).

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You cannot simply assume future limits based on prior limits.  You're not going to infinitely get new credit lines issues with limits the same as prior lines.  Creditors do not simply match limits.  Your credit profile looked at at the time of consideration.  With 2 new credit cards each with $29K limits your profile isn't the same as it was when you were considered for those cards.

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@Anonymous wrote:

But now I’m wondering should I have rejected it and re-applied just before my 90 days is up and I’ve used
the CC responsibly?

---

It is never just about the accounts that you hold with a given creditor.  Your entire credit profile matters.

[Appleman]

I think it is time to reflect and decide if you needed the PLOC or if you wanted to feed the ego (been there, doing that). PenFed is great with approvals to a point, but I apprecitiate that in a bank.

I had a similar result when I recently tried for a Personal Loan and a CLI with PenFed after all the love they have already shown me. They told me they needed some more time, not enough experience with current payments etc.

So OP, you got to first base with Penelope Fed on your initial date. You tried to get to home base on the second date but got shut down. I hear she still wants to date you but she just needs some courtship!