topic Re: PENFED APPROVAL!! in Credit Card Approvals

PENFED APPROVAL!!

xReMaKe — Thu, 09 Sep 2021 13:25:45 GMT

Just got approved for Penfed Platinum Rewards Visa Signature.

I had joined Penfed earlier in the year when everyone was applying and getting accepted (Around April) but never applied for a credit card. Just deposit 10 dollars, and never entered again. Yesterday I received an email saying I was pre-approved. I thought, no way. My bk is still new, not even two years yet, but it intrigued me enough to login and check the offer out. It displayed my interest rate which is 17.99% and I decided to go for it. Applied and when it was going to give me the decision, the website crashed. Thankfully an email arrived shortly and said “CONGRATULATIONS, YOU HAVE BEEN APPROVED” – 5000$ SL. Not a bad SL especially for where I’m at. Becomes my second highest card. Bk still fairly new. EQ score for some reason is my lowest even though I only have 1 inquiry on it at 659.

Some data points before I applied. 1st inquiry in the last 11 months on my EQ report. 2 in the last 12.

Only new accounts in the last 12 months is Capital One Oct 2020, and Apple which was this same week.

2 accounts last 12 months, 1 in the last 6 months.

Questions to those who have Penfed, how does it grow? I run a business and use my cards heavily. I believe that’s the reason capital one has almost 6x my SL in the last 11 months. Just got an apple card and have read they like heavy usage, since the SL on it is 1000$ I could run it multiple times a month. Is there any benefit in doing the same with Penfed? If not, I’ll keep using Capital One a lot and hopefully it keeps growing. Also, is there any card I should keep an eye on that grows a lot with heavy usage? I know discover is one of them but they still won’t let me in, and since my business is heavily reliant on buying a lot of products, cards that give cli based on usage and income are extremely beneficial to me.

Re: PENFED APPROVAL!!

coreyb80 — Thu, 09 Sep 2021 13:41:52 GMT

Congrats on the approval!

Re: PENFED APPROVAL!!

pizzadude — Thu, 09 Sep 2021 13:42:46 GMT

Congrats on the PenFed Signature Visa approval !!

Re: PENFED APPROVAL!!

gdale6 — Thu, 09 Sep 2021 15:22:25 GMT

Grats on your Penfed approval

Re: PENFED APPROVAL!!

Elpadrino1 — Thu, 09 Sep 2021 16:57:35 GMT

Congratulations on your PenFed approval!!

Re: PENFED APPROVAL!!

Sub16610 — Thu, 09 Sep 2021 18:38:46 GMT

Very nice approval and SL!

Re: PENFED APPROVAL!!

cashorcharge — Thu, 09 Sep 2021 19:40:08 GMT

That’s terrific! Congratulations on your PenFed approval!! 👏🏼🎉🍾

The nice thing about Apple is you can ask for CLI's pretty regularly as their only SP and with usage, they are generous. They like to see good usage and PIF. With PenFed, self initiated/requested CLI's are EQ HP. While they are known to provide "offers" which could include a CLI or new card, I don't think their growth would be the same as Apple using your comparison. That's not to say it won't happen...perhaps not as aggresively.

Re: PENFED APPROVAL!!

CreditAggie — Thu, 09 Sep 2021 21:00:35 GMT

Congratulations on your PenFed approval!

Re: PENFED APPROVAL!!

KingRue8500 — Thu, 09 Sep 2021 21:18:10 GMT

Congrats on your PenFed Platinum Rewards approval

Re: PENFED APPROVAL!!

UH_HUH — Thu, 09 Sep 2021 21:53:04 GMT

Nothing wrong with a $500 Card,,,,,

But there is also nothing wrong with a

$5,000 Card either :-) LOL!!!!

Congrats on your PenFed success,

very happy to read about it!!!

Cheers

Re: PENFED APPROVAL!!

Anonymous — Thu, 09 Sep 2021 23:02:48 GMT

Congrats!

Re: PENFED APPROVAL!!

wingennis — Thu, 09 Sep 2021 23:07:56 GMT

Congratulations! I was approved for this card at 3.5k. Within 2 years it was at 25k. It can certainly grown with consistent use and payments.

Re: PENFED APPROVAL!!

Total80sKid — Fri, 10 Sep 2021 04:17:02 GMT

Congrats on your PenFed Platinum Rewards approval 👍🏼

Re: PENFED APPROVAL!!

bilwilvegas — Fri, 10 Sep 2021 04:29:13 GMT

Congratulations on your approval.

PenFed was really good to me on my first CLI. My account was opened 12/27/2021 with a $1,500 SL I used the card with heavy spend and PIF every morning. Delays in charges posting kept my average monthly spend to around $6,000. On 7/1/2022 I requested a CLI and it was approved at $25,000 which I believe is their max limit on a single card. If you use the card and PIF consistently they will reward you with a significant CLI.

Re: PENFED APPROVAL!!

mrcraft — Fri, 10 Sep 2021 07:14:50 GMT

Congratulations on your approval!!

Re: PENFED APPROVAL!!

Papa_Bear — Fri, 10 Sep 2021 08:43:36 GMT

Congratulations!

Re: PENFED APPROVAL!!

xReMaKe — Fri, 10 Sep 2021 17:08:35 GMT

@cashorcharge wrote:
That’s terrific! Congratulations on your PenFed approval!! 👏🏼🎉🍾
The nice thing about Apple is you can ask for CLI's pretty regularly as their only SP and with usage, they are generous. They like to see good usage and PIF. With PenFed, self initiated/requested CLI's are EQ HP. While they are known to provide "offers" which could include a CLI or new card, I don't think their growth would be the same as Apple using your comparison. That's not to say it won't happen...perhaps not as aggresively.

Appreciate the info. I'll mark Apple on my calender for every 3 months and see what happens. I see, so penfed is like DCU in a way. I remember DCU started me off with 1000, then one day I had an offer for 10,000$. Hopefully within the next year they send me one.

Re: PENFED APPROVAL!!

xReMaKe — Fri, 10 Sep 2021 17:12:43 GMT

@bilwilvegas wrote:
Congratulations on your approval.

PenFed was really good to me on my first CLI. My account was opened 12/27/2021 with a $1,500 SL I used the card with heavy spend and PIF every morning. Delays in charges posting kept my average monthly spend to around $6,000. On 7/1/2022 I requested a CLI and it was approved at $25,000 which I believe is their max limit on a single card. If you use the card and PIF consistently they will reward you with a significant CLI.

Wait, you're from the future? You made me double check to make sure we're in 2021 Jaja!
But wow, that's amazing. Congrats on your limit increases. If I see half that I'll be happy.

Re: PENFED APPROVAL!!

CerebralZulu — Mon, 13 Sep 2021 20:17:51 GMT

Congrats on the Penfed approval. Love their preapproved offers. Can't beat it.

Re: PENFED APPROVAL!!

Anonymous — Mon, 13 Sep 2021 21:08:11 GMT

You got approved for a pen fed card bk been discharged? I have a savings with them. I'm almost a year discharge. 659 score?🤔