topic Re: Penfed Approval in Credit Card Approvals

Penfed Approvals (Gold and PCR) - is a 3rd possible?

ccpat — Mon, 25 Oct 2021 22:14:23 GMT

I've been trying to get a Penfed forever and just didn't have the score/file for a card. Finally today after reading a few threads I pulled the trigger and was approved for the gold with a 667 score on the Penfed site. $7500 limit. I'm doing my happy dance!!! Nice way to go into the weekend with a card that will help my Util.

Problem is I got a little too excited and pulled the trigger also for the Power Cash Rewards and then got the "Under Review" message. I guess I should have done more research about apping for multiples back to back.

Should I have waited or is it OK to app back to back with Penfed? Also, when should I try a CLI or does Penfed do auto increases?

Thanks!!!

Re: Penfed Approval

CreditPacMan — Fri, 08 Oct 2021 17:34:28 GMT

Congrats on the approval and the nice SL.

Re: Penfed Approval

PandaGirl77 — Fri, 08 Oct 2021 17:38:35 GMT

Congratulations on your approval! Unfortunately cannot answer your other questions but there are so many knowledgeable people here that will. Love these forums!

Re: Penfed Approval

coreyb80 — Fri, 08 Oct 2021 17:44:39 GMT

Congrats on the approval. Back to back apps are fine, actually encouraged, since they're going to use the same pull for both applications.

Re: Penfed Approval

M_Smart007 — Fri, 08 Oct 2021 18:14:05 GMT

Congrats on your PenFed Gold approval.

Re: Penfed Approval

FinStar — Fri, 08 Oct 2021 18:27:32 GMT

@ccpat wrote:
I've been trying to get a Penfed forever and just didn't have the score/file for a card. Finally today after reading a few threads I pulled the trigger and was approved for the gold with a 667 score on the Penfed site. $7500 limit. I'm doing my happy dance!!! Nice way to go into the weekend with a card that will help my Util.

Problem is I got a little too excited and pulled the trigger also for the Power Cash Rewards and then got the "Under Review" message. I guess I should have done more research about apping for multiples back to back.

Should I have waited or is it OK to app back to back with Penfed? Also, when should I try a CLI or does Penfed do auto increases?

Thanks!!!

Congrats on your PenFed Gold approval @ccpat 🥳.

Yes, one can apply back-to-back for another card but results will vary. Some folks have been approved while others have not -- it's all profile-specific.

As far as auto-CLIs, those are fairly rare with PenFed. They're typically HP if you request one. Another DP to keep in mind is that their Gold card caps at $15K, IIRC.

Re: Penfed Approval

Rebuild2019 — Fri, 08 Oct 2021 18:31:27 GMT

congratulations 🎊🎈 🎉 on your PenFed approval.

Re: Penfed Approval

Wavester64 — Sat, 09 Oct 2021 01:48:48 GMT

@ccpat

Re: Penfed Approval

KingRue8500 — Fri, 08 Oct 2021 21:03:22 GMT

Congrats on your PenFed Gold Visa approval

Re: Penfed Approval

Titans84 — Fri, 08 Oct 2021 21:33:21 GMT

Congrats on your approval!

Re: Penfed Approval

greatscott85 — Sat, 09 Oct 2021 01:39:23 GMT

Congratulations on the Gold! A solid BT card.

i actually just spent about an hour discussing cli's and multiple apps. FWIW, you can call them and they are super helpful. Very transparent, especially compared to other financial institutions.

They will most likely use the same pull for the two apps you did. Auto cli is not really a thing. Albeit, it may happen. They also do not have strict guidelines like Navy Fed (think about the 91/3 or 181/6). However, don't expect to get one every month. I'm at 4 months with my PCR and have contemplated the pull but honestly, my usage is pretty low. The usage will be small part in the cli evaluation. A separate cli request is almost always an HP. Unless the preapproval is shown on your profile. I would also mention, when you do a cli, they also look to determine if you are eligible for an interest rate reduction! They look at the credit score for the rate and the income for the limit.

Hopefully that helps! Congrats again!

Re: Penfed Approval

Sub16610 — Sat, 09 Oct 2021 02:11:21 GMT

Congrats on your approval!

Re: Penfed Approval

Total80sKid — Sat, 09 Oct 2021 03:14:38 GMT

Congrats on your Gold Visa approval 👍🏼

Re: Penfed Approval

CreditAggie — Sat, 09 Oct 2021 03:27:06 GMT

Congratulations on your PenFed approval!

Re: Penfed Approval

Papa_Bear — Sat, 09 Oct 2021 07:10:41 GMT

Congrats on the approval!

Re: Penfed Approval

Anonymous — Sun, 10 Oct 2021 04:50:40 GMT

Congrats on the Gold!!! Eagerly awaiting the DPs and the PCR approval update. Interesting thing is they can't try to counter you with a Gold offer because you already have it unless they offer you 2

Re: Penfed Approval

cashorcharge — Sun, 10 Oct 2021 15:54:40 GMT

Congratulations on your PF approval!! 🎉🥂👏🏻

Re: Penfed Approval

gdale6 — Sun, 10 Oct 2021 16:09:13 GMT

Grats on getting the gold card approval

Re: Penfed Approval

Libra85 — Mon, 11 Oct 2021 02:30:02 GMT

@greatscott85 wrote:
Congratulations on the Gold! A solid BT card.

i actually just spent about an hour discussing cli's and multiple apps. FWIW, you can call them and they are super helpful. Very transparent, especially compared to other financial institutions.

They will most likely use the same pull for the two apps you did. Auto cli is not really a thing. Albeit, it may happen. They also do not have strict guidelines like Navy Fed (think about the 91/3 or 181/6). However, don't expect to get one every month. I'm at 4 months with my PCR and have contemplated the pull but honestly, my usage is pretty low. The usage will be small part in the cli evaluation. A separate cli request is almost always an HP. Unless the preapproval is shown on your profile. I would also mention, when you do a cli, they also look to determine if you are eligible for an interest rate reduction! They look at the credit score for the rate and the income for the limit.

Hopefully that helps! Congrats again!

thanks for the DP. New member myself and was wondering about CLI on my PCR card. I think I'll wait 6-12 months before taking a HP.

Re: Penfed Approval

Anonymous — Mon, 11 Oct 2021 03:22:19 GMT

Congrats on your approval! I just got approved for the PCR and back to back applied for the Gold, and my Gold app went under review, so in a similar boat, keep us posted on your result!