topic Re: PenFed - CLI Denial - Data Point in Credit Card Applications

PenFed - CLI Denial - Data Point

tussking — Mon, 17 Oct 2016 16:59:17 GMT

Current exposure with PenFed is 25k on two CC's - 1 (15k) - 1 (10k). Income 101k

I was told by credit analyst supervisor that 25k is max exposure with my income.

Hope that info helps others...

Re: PenFed - CLI Denial - Data Point

Gmood1 — Mon, 17 Oct 2016 17:05:09 GMT

That's strange, I was told I was at max with 65k income on a $28k CC. Lol
We must have had the same UW. Or they decide depending on the mood of the day? 😉
Apparently there isn't a hard and fast rule with them.

Re: PenFed - CLI Denial - Data Point

baller4life — Mon, 17 Oct 2016 17:05:38 GMT

Unless this is a brand new policy, $50k is max exposure for credit cards regardless of income. The data share thread is absolutely full members with exposure higher than yours and income lower than yours.

You have now peaked my curiosity. I am going to call now and see if this is in fact a new policy.

Re: PenFed - CLI Denial - Data Point

baller4life — Mon, 17 Oct 2016 17:15:10 GMT

Ok, I just got off the phone with a supervisor/LO and she said the policy has not changed. Max exposure is still $50k for credit cards per member. She said credit profile and income dictates what a person's individual max exposure will be.

So maybe they are saying for your credit/income you are at the max they are willing to give you tussking. I'm sure that will change over time.

Re: PenFed - CLI Denial - Data Point

Anonymous — Mon, 17 Oct 2016 17:35:15 GMT

@tussking wrote:
Current exposure with PenFed is 25k on two CC's - 1 (15k) - 1 (10k). Income 101k
I was told by credit analyst supervisor that 25k is max exposure with my income.
Hope that info helps others...

Even keeping in mind what Baller4life wrote, a CL of 25k 1 year out of BK isn't too shabby. Nice job.

Re: PenFed - CLI Denial - Data Point

baller4life — Mon, 17 Oct 2016 17:48:29 GMT

@Anonymous wrote:
@tussking wrote:
Current exposure with PenFed is 25k on two CC's - 1 (15k) - 1 (10k). Income 101k
I was told by credit analyst supervisor that 25k is max exposure with my income.
Hope that info helps others...
Even keeping in mind what Baller4life wrote, a CL of 25k 1 year out of BK isn't too shabby. Nice job.

+100. It's phenomenal! You have done extremely well tussking!

Re: PenFed - CLI Denial - Data Point

Anonymous — Tue, 18 Oct 2016 03:14:42 GMT

@baller4life wrote:
@Anonymous wrote:
@tussking wrote:
Current exposure with PenFed is 25k on two CC's - 1 (15k) - 1 (10k). Income 101k
I was told by credit analyst supervisor that 25k is max exposure with my income.
Hope that info helps others...
Even keeping in mind what Baller4life wrote, a CL of 25k 1 year out of BK isn't too shabby. Nice job.
+100. It's phenomenal! You have done extremely well tussking!

Agreed!

Im very impressed with some of our BK'rs rebuild on this forum.

Re: PenFed - CLI Denial - Data Point

Anonymous — Wed, 19 Oct 2016 02:44:17 GMT

It's amazing I have 40k on a promise Visa at about 8% ish. Also ..the 5% BT no fee is great as WELL
as 8% cash advances with no fee? Come on.. what card is better than that??
. I don't think anyone I know has anywhere near that. limit.

subsequently, barclays denied my CLI onthe SM because I wasn't using enough of the limits oh my
higher CL cards.. dangit.

Baller what did the super say the income guidlines where for the CL tiers? I'm at 56k and am at the max
"unsecured" credit exposure. with that card plus 10K PLOC

Re: PenFed - CLI Denial - Data Point

baller4life — Wed, 19 Oct 2016 03:13:54 GMT

@Anonymous wrote:
It's amazing I have 40k on a promise Visa at about 8% ish. Also ..the 5% BT no fee is great as WELL
as 8% cash advances with no fee? Come on.. what card is better than that??
. I don't think anyone I know has anywhere near that. limit.
subsequently, barclays denied my CLI onthe SM because I wasn't using enough of the limits oh my
higher CL cards.. dangit.

Baller what did the super say the income guidlines where for the CL tiers? I'm at 56k and am at the max
"unsecured" credit exposure. with that card plus 10K PLOC

She didn't break down any income tiers. She just said income and credit profiles dictates the max they are willing to give you. I would say you are doing exceptionally well if you have a $40k limit with $56k income. That's a limit 71% of your income. WOW!

Re: PenFed - CLI Denial - Data Point

Guyatthebeach — Wed, 19 Oct 2016 03:34:53 GMT

Tussling,

Great datapoint share.

Guyatthebeach

Re: PenFed - CLI Denial - Data Point

tussking — Wed, 19 Oct 2016 05:38:45 GMT

Interestingly enough - I got the secure message letter from PenFed and they used my CR from Aug 25. I have paid many accounts down to zero since then...She had even told me they did a new HP ? Strange ! I guess I will wait til Dec/Jan and hit them up again.

Thanks for the kind words everyone !

Re: PenFed - CLI Denial - Data Point

Anonymous — Wed, 19 Oct 2016 11:25:24 GMT

@tussking wrote:
Interestingly enough - I got the secure message letter from PenFed and they used my CR from Aug 25. I have paid many accounts down to zero since then...She had even told me they did a new HP ? Strange ! I guess I will wait til Dec/Jan and hit them up again.

Thanks for the kind words everyone !

Can always call back but IDK. I found for me .. I asked them to do like 10 things withing 2 weeks and they used the same pull if ti was withn 30 days.

This cards CL and low APR is al ifesaver because I'm saving for house closingt his month and not able to pay off my bals like I want to and just got nailed
with 1k dental work. I charged on my amex and used the no fee 5% BT for 12 month option.... you CANNOT beat that.

I'm trying to prep myself to refi this mortgage because it has some weird things in it.

Figuring out if I should use PenFed.. or .. NFCU -- which I just applied to at the west point branch last week.

I saw NFCU has no PMI (sorry diff thread)