Re: Penfed - is that a LUV button???
07-29-2009 10:48 AM
PenFed Unsecured Credit Products:
1) Bill Consolidation Loan
2) Personal Loan
3) Thrifty Credit Service
4) Personal Line of Credit
5) Credit Cards
Thanks for the list.
I just spoke to a Penfed CSR and she stated that credit card preapproval offers cannot be assigned to any other product. It looks like the rates on all those products are so terrible that nobody would want to anyway.
No one said or suggested that the preapproved offers could be moved to other products. The unsecured preapprovals are offered in parallel. Once one (unsecured) is accepted the remainder (unsecured) disappear while the secured offers may remain. I received offers for everything but the CC earlier and left them alone. (I have no need of those other things.) Eventually the CC offer came along, too.
Her Ladyship had $40K pre-app offers recently on all of the above and took $20K added to her CC. Someday I will figure out why one would need or want a $40K Thrifty Credit Service account.
It seems to me that is exactly what you suggested in your previous posts.
No parallel preapprovals here. Only one for a credit card, which after being accepted (twice now) has resulted in a denial, once with a second credit pull on another bureau.
I'm not saying the latter is untrue for you but not everybody receives parallel offers like you suggest.