Regular Contributor
Posts: 163
Registered: ‎09-23-2008
I Love PenFed - preapproved offer

Last week I accepted a preapproved credit card offer from PenFed. Instead of opening a new card account, I applied the offered amount to my existing Platinum Cash Visa.

 

Old CL     30,000

New CL   50,000

 

 

Smiley Very Happy

Super Contributor
Posts: 6,672
Registered: ‎04-07-2008
Re: I Love PenFed - preapproved offer

tiger67 wrote:

Last week I accepted a preapproved credit card offer from PenFed. Instead of opening a new card account, I applied the offered amount to my existing Platinum Cash Visa.

 

Old CL     30,000

New CL   50,000

 

 

Smiley Very Happy


 

Nice CL !!!!!

 

There is hope afterall with Penfed Smiley Happy

 




Frequent Contributor
Posts: 419
Registered: ‎03-05-2012
Re: I Love PenFed - preapproved offer

tiger67 wrote:

Last week I accepted a preapproved credit card offer from PenFed. Instead of opening a new card account, I applied the offered amount to my existing Platinum Cash Visa.

 

Old CL     30,000

New CL   50,000

 

 

Smiley Very Happy


HOLY CRAP! That's insane. Be careful though because I think you are right at the level where FICO starts to ignore it because it thinks it's a HELOC. You may want to ask for a CLD just to be safe.

 

Of course you can keep it and use the hell out of it since your UTIL won't be factored in.

Mega Contributor
Posts: 15,442
Registered: ‎04-09-2011
Re: I Love PenFed - preapproved offer
@Tiger VERY AWESOME CONGRATS!!!



Silver Spade Garden Club Member - Last App 12/16/13 - Looking for a clean slate NO INQ's / Diamond Inspired!
Starting Score:
EX (PLUS) 583 EQ FICO 565 TU FICO 590 3/15/2011 / Goal Scores: 720
Current Score: EX FICO (PSECU) 671 (myFICO) N/A / EQ FICO 679 / TU08 FICO 678 / TU VS 706 3/6/2014
Mega Contributor
Posts: 15,442
Registered: ‎04-09-2011
Re: I Love PenFed - preapproved offer
@ctb Good point for OP to consider!



Silver Spade Garden Club Member - Last App 12/16/13 - Looking for a clean slate NO INQ's / Diamond Inspired!
Starting Score:
EX (PLUS) 583 EQ FICO 565 TU FICO 590 3/15/2011 / Goal Scores: 720
Current Score: EX FICO (PSECU) 671 (myFICO) N/A / EQ FICO 679 / TU08 FICO 678 / TU VS 706 3/6/2014
Senior Contributor
Posts: 3,528
Registered: ‎01-19-2009
Re: I Love PenFed - preapproved offer

Oh wow preapproved offers must be back at penfed huh? Haven't heard of one in a while

Valued Contributor
Posts: 2,829
Registered: ‎03-14-2012
Re: I Love PenFed - preapproved offer

WOW!  That's quite a limit.  Congratulations!



Starting Score: 639 (Walmart TU)
Current Score: TU 715 (Barclay) EX 685 (myFICO) EQ 697 (myFICO)
Goal Score: 700 Across the Board (Mortgage Goal Achieved 1/31/2012!)

Take the FICO Fitness Challenge
Super Contributor
Posts: 6,672
Registered: ‎04-07-2008
Re: I Love PenFed - preapproved offer

ctb89 wrote:

tiger67 wrote:

Last week I accepted a preapproved credit card offer from PenFed. Instead of opening a new card account, I applied the offered amount to my existing Platinum Cash Visa.

 

Old CL     30,000

New CL   50,000

 

 

Smiley Very Happy


HOLY CRAP! That's insane. Be careful though because I think you are right at the level where FICO starts to ignore it because it thinks it's a HELOC. You may want to ask for a CLD just to be safe.

 

Of course you can keep it and use the hell out of it since your UTIL won't be factored in.


Whats the limit for consideration with FICO?




Frequent Contributor
Posts: 419
Registered: ‎03-05-2012
Re: I Love PenFed - preapproved offer

I don't recall exactly but if my memory serves me well, it was $50k or in the neighborhood. I guess you'll find out when they update your CR. Smiley Tongue

Valued Contributor
Posts: 1,960
Registered: ‎08-13-2007
Re: I Love PenFed - preapproved offer

CS800 wrote:

tiger67 wrote:

Last week I accepted a preapproved credit card offer from PenFed. Instead of opening a new card account, I applied the offered amount to my existing Platinum Cash Visa.

 

Old CL     30,000

New CL   50,000

 

 

Smiley Very Happy


 

Nice CL !!!!!

 

There is hope afterall with Penfed Smiley Happy

 


Man - that is massive! Smiley Happy

Ray

** Every Card has a Job, and Every Card does its Job **