topic Re: Penfed CLI ?? in Credit Card Applications

Penfed CLI ??

The-Credit-Disciple — Mon, 27 Apr 2020 22:18:48 GMT

Great afternoon My Fico Fam😀

I have a question, how is Penfed with CLI? For example if you apply and the SL is on the low side like $3500. Can you ask for more? Just a question

Re: Penfed CLI ??

AverageJoesCredit — Tue, 28 Apr 2020 00:26:03 GMT

For the people who are on their DO lend list, their cli can be quite good. For those they dont deem worthy, trying to get cli is like pulling teeth. In my experience, $3500 isnt really low sl but then again its subjective. PF has been giving out crazy limits and cli recently so if you did actually get an approval from them, id say worth a shot to ask for more if you need it. Just mho

Re: Penfed CLI ??

wingennis — Tue, 28 Apr 2020 00:33:38 GMT

I was approved with a 3500 SL. A year later, I took a hard pull and they increased to $15k. They said no soup before that.

Re: Penfed CLI ??

JR_TX — Wed, 29 Apr 2020 16:05:47 GMT

Their CL allocation is income driven. The more dough, the more soup! Granting, that you've made it past their UW of course.

Re: Penfed CLI ??

Anonymous — Sat, 30 May 2020 17:59:52 GMT

I have a PenFed Power Cash Rewards card for 7 months with a $7500 starting limit. I'd like to get it to $17,500 so I am paying off ALL credit cards to zero except 1. How can I request a soft pull for a CLI on this card? I'm buying a house soon and don't want the hard pull. Can I send a direct message? I have over $50,000 in my savings at PenFed. Will that help influence my CLI? Any help is much appreciated. Income $70k.

Re: Penfed CLI ??

SouthJamaica — Sun, 31 May 2020 02:45:57 GMT

@Anonymous wrote:
I have a PenFed Power Cash Rewards card for 7 months with a $7500 starting limit. I'd like to get it to $17,500 so I am paying off ALL credit cards to zero except 1. How can I request a soft pull for a CLI on this card? I'm buying a house soon and don't want the hard pull. Can I send a direct message? I have over $50,000 in my savings at PenFed. Will that help influence my CLI? Any help is much appreciated. Income $70k.

AFAIK it's always a hard pull with PenFed

Re: Penfed CLI ??

UH_HUH — Sun, 31 May 2020 21:38:35 GMT

I believe I started 2 years ago at $6,500

Had to wait 20 months then they offered

a CLI or a new card approval. Took the CLI,

$2,300.00 IIRC

and apped for the Promise card. Got 12K on that.

A few months later got the Gold card at 10K

Like @AverageJoesCredit said they seem to

be more open to lending lately.

Good luck,

Cheers

Re: Penfed CLI ??

The-Credit-Disciple — Sun, 31 May 2020 22:06:38 GMT

Thanks for the information

Re: Penfed CLI ??

Anonymous — Wed, 08 Jul 2020 16:50:47 GMT

my experience with PenFed, I had a bk7 discharge in August 2018. In July 2019 PenFed gave me a 1200 SL. July 2020 I applied for a CLI through the website application and was given a credit line of 15,000. I got a hard credit pull from that applciation for credit line increase from equifax.

Re: Penfed CLI ??

RootDet — Wed, 08 Jul 2020 21:53:18 GMT

Just so everyone knows, IF you ask for the increase, it is a hard pull, no doubts, no questions.

If they offer you a CLI during the quarterly preapprovals, then it is a soft pull. Note that not everyone will ever see a quarterly preapproval. I have been a member for 5+ years, have never seen one which is odd, but it is what it is.

Re: Penfed CLI ??

expatCanuck — Tue, 20 Oct 2020 19:55:21 GMT

A day late and a dollar short, but ...

I applied for the PCR Jan 2019, and was given a CL of $10K (low in comparison to most of my cards). Within a year, I received an email offering a CLI of 17.7K (soft pull).

I've since taken advantage of a personal loan from them because it was much easier than a HELOC.

Throughout, my scores were north of 800, and my income was, well, less than 'too much', but beyond 'adequate'.