topic Re: Penfed Personal Line Counter - UPDATE in Credit Card Approvals

Penfed Personal Line Counter

Creditaddict — Tue, 24 Mar 2015 19:10:51 GMT

My partner applied for a Personal Line of Credit for $25k yesterday and today received:

Thank you for your recent application for credit.

We are unable to offer you credit on the terms that you requested for the following reason(s):

Pyramiding debts.

We can, however, offer you credit on the following terms:

Open-end credit not to exceed $ 10,000.00 at 10.25% APR.

The monthly payment will be either 2.0% (2.5% for Thrifty Credit) of the outstanding balance or minimum $10.00 ($15.00 for all credit cards).

He had a current Thrifty line of $500 so looks like they offered to CLI that!

We will take it!

Re: Penfed Personal Line Counter

gwizdak24 — Tue, 24 Mar 2015 19:14:20 GMT

not bad at all.

Re: Penfed Personal Line Counter

Creditaddict — Tue, 24 Mar 2015 19:18:06 GMT

Your application is approved.
Product:	Personal Line Of Credit
Amount:	$10,000.00

Re: Penfed Personal Line Counter

B335is — Tue, 24 Mar 2015 19:19:14 GMT

How long has your partner had Thrifty? I've had mine since August but too scared to request PLOC.

Re: Penfed Personal Line Counter

Creditcurious74 — Tue, 24 Mar 2015 19:20:21 GMT

Congratulations!!! Penfed is great

Re: Penfed Personal Line Counter

uswala — Tue, 24 Mar 2015 19:23:42 GMT

Congrats!

Re: Penfed Personal Line Counter

Creditaddict — Tue, 24 Mar 2015 19:28:04 GMT

@B335is wrote:
How long has your partner had Thrifty? I've had mine since August but too scared to request PLOC.

maybe 6 or so months... not sure... he opened a checking account a bit ago and checked the box that he would like the thrifty if approved... they give a standard $500 i think.

now that credit was pulled he put in an app for promise visa too... it's pending!

Re: Penfed Personal Line Counter

B335is — Tue, 24 Mar 2015 19:33:29 GMT

How many EQ inq? How much checking acct activity?

Re: Penfed Personal Line Counter

Creditaddict — Tue, 24 Mar 2015 19:37:18 GMT

@B335is wrote:
How many EQ inq? How much checking acct activity?

eerrr, not sure his EQ inq count but it has been a while since he did any applying before this recent little spree... but probably somewhere still around 10.

Checking... I moved $500 into it after being charged 2 months for not meeting min. requirement.

ZERO activity on any of the accounts besides the 2 months of fees and then the deposit of the $500.

Re: Penfed Personal Line Counter

Creditaddict — Tue, 24 Mar 2015 19:37:42 GMT

they listed a 731 EQ score btw

Re: Penfed Personal Line Counter

B335is — Tue, 24 Mar 2015 19:49:07 GMT

Hm, I have 6 recent inq. Similar account activity, slightly higher score. My Cash Rewards card is still at $1k limit.

Re: Penfed Personal Line Counter - UPDATE

Creditaddict — Tue, 24 Mar 2015 19:56:54 GMT

UPDATE:

Congratulations, your application has been approved.

Purchase and Cash Advance APR: 9.99% Credit Limit: $5,000

Now when can he get a CLI on that?

Re: Penfed Personal Line Counter - UPDATE

Creditcurious74 — Tue, 24 Mar 2015 20:31:23 GMT

@Creditaddict wrote:
UPDATE:

Congratulations, your application has been approved.
Purchase and Cash Advance APR: 9.99% Credit Limit: $5,000

Now when can he get a CLI on that?

I did it 30 days after and 5 days before I hit the 90th day. I got approved both times but got denied on my promise card limit.

Re: Penfed Personal Line Counter - UPDATE

Creditaddict — Tue, 24 Mar 2015 20:40:47 GMT

@Creditcurious74 wrote:
@Creditaddict wrote:
UPDATE:

Congratulations, your application has been approved.
Purchase and Cash Advance APR: 9.99% Credit Limit: $5,000

Now when can he get a CLI on that?
I did it 30 days after and 5 days before I hit the 90th day. I got approved both times but got denied on my promise card limit.

What card were you approved on?

where you using it?

did you ask for a limit or just click cli each time? this is first penfed card so not sure how they work.

Re: Penfed Personal Line Counter

dodgerslv — Tue, 24 Mar 2015 20:45:08 GMT

@onB335is wrote:
How long has your partner had Thrifty? I've had mine since August but too scared to request PLOC.

Congrats CA!!!! nice going. I tried for the PLOC 2-3 months back and was instantly denied. I wish i could have done during the 90 day window when i got the CC and Thrifty line. They stated too many inquiries and recently opened accounts (which couldnt really blame them). If you dont have too many INQs on EQ B335, you should give it a shot

just saw you have 6 recent INQ B...are they in the last 3, 6 months? .

Re: Penfed Personal Line Counter

Creditaddict — Tue, 24 Mar 2015 20:50:21 GMT

should he request cli on thrifty line too? how high does that go?

Re: Penfed Personal Line Counter

dodgerslv — Tue, 24 Mar 2015 20:54:28 GMT

@Creditaddict wrote:
should he request cli on thrifty line too? how high does that go?

it doesnt tell you when you are requesting CLI on that CA? If not they just request 15k (not sure how much total exposure partner has with Penfed at the moment), im sure they could counter also.

Re: Penfed Personal Line Counter

Creditaddict — Tue, 24 Mar 2015 20:57:25 GMT

@dodgerslv wrote:
@Creditaddict wrote:
should he request cli on thrifty line too? how high does that go?
it doesnt tell you when you are requesting CLI on that CA? If not they just request 15k (not sure how much total exposure partner has with Penfed at the moment), im sure they could counter also.

he only had the thrify for $500 when they approved the counter $10k personal line and then the $5k credit card.

Re: Penfed Personal Line Counter

dodgerslv — Tue, 24 Mar 2015 21:01:02 GMT

@Creditaddict wrote:
@dodgerslv wrote:
@Creditaddict wrote:
should he request cli on thrifty line too? how high does that go?
it doesnt tell you when you are requesting CLI on that CA? If not they just request 15k (not sure how much total exposure partner has with Penfed at the moment), im sure they could counter also.
he only had the thrify for $500 when they approved the counter $10k personal line and then the $5k credit card.

i would say a 5k thrifty line sounds good right? its more of a checking overdraft line so requestion 5k sounds reasonable i think...

Re: Penfed Personal Line Counter

Anonymous — Tue, 24 Mar 2015 21:04:03 GMT

Are you sure the thrifty LOC can be raised? I thought that was just their basic overdraft protection LOC and if you wanted more you had to apply for the regular PLOC.