topic Re: PenFed CLI in Credit Card Applications

PenFed CLI

Ms6Footer — Thu, 17 Feb 2022 21:24:05 GMT

I was on the phone w them to discuss a payment and I asked about a CLI. I asked are they hard/soft inquiry and she said they are hard. I also asked do they ever do reviews for automatic increase because I've never gotten one. She said the limit will stay the same unless o request an increase. That sucks.

Re: PenFed CLI

AverageJoesCredit — Thu, 17 Feb 2022 20:38:59 GMT

A hp with PF can go a long way. Just sayin

Re: PenFed CLI

brk1971 — Thu, 17 Feb 2022 22:01:21 GMT

And one HP can be used more than once for the same product line... In my case, the HP for my 2nd card was used for my CLI request on the 1st card (in that order). Rep told me that it 'might cause' another HP (but it didn't).

Re: PenFed CLI

AverageJoesCredit — Thu, 17 Feb 2022 22:23:53 GMT

@brk1971 wrote:
And one HP can be used more than once for the same product line... In my case, the HP for my 2nd card was used for my CLI request on the 1st card (in that order). Rep told me that it 'might cause' another HP (but it didn't).

Correct. The new Penfed has been pretty amazing imo though establishing some history with them never hurts

Re: PenFed CLI

mgood — Sat, 19 Feb 2022 15:04:33 GMT

@AverageJoesCredit wrote:
A hp with PF can go a long way. Just sayin

No joke.

One hard pull got me a new $5k Platinum, new $5k PCR, and a $4.9k CLI on my existing Gold 1.6k + 4.9k = 6.5k. (There was also a second Gold card opened and subsequently closed in the middle of all that.)

Six months later another HP got me a 3.5x CLI on that PCR 5k to 17.5k. But I was declined when I tried to get a CLI on the Platinum with the same pull.

A couple months after that (with another another HP ) I recieved a 2x increase on the Platinum, 5k up to 10k.

Re: PenFed CLI

AverageJoesCredit — Sat, 19 Feb 2022 15:21:24 GMT

@mgood wrote:
@AverageJoesCredit wrote:
A hp with PF can go a long way. Just sayin
No joke.

One hard pull got me a new $5k Platinum, new $5k PCR, and a $4.9k CLI on my existing Gold 1.6k + 4.9k = 6.5k. (There was also a second Gold card opened and subsequently closed in the middle of all that.)

Six months later another HP got me a 3.5x CLI on that PCR 5k to 17.5k. But I was declined when I tried to get a CLI on the Platinum with the same pull.

A couple months after that (with another another HP ) I recieved a 2x increase on the Platinum, 5k up to 10k.

Thats pretty awesome. A couple years ago Penfed was very conservative unless you had a really strong incone/profile. I love that they are sharing their growth with their members. I have CUs who wont give me time of day because of my income /debt which is understandable but im the type that believes our credit scores and management should at least count for something. If i mess up its on me but give me the chance lol. Only 2 things left i wish from PF...to see an offer lol and get a pl offer at 5.99% lol. Neither will ever happen but one can dream

Re: PenFed CLI

mgood — Sat, 19 Feb 2022 15:38:02 GMT

@AverageJoesCredit wrote:
@mgood wrote:
@AverageJoesCredit wrote:
A hp with PF can go a long way. Just sayin
No joke.

One hard pull got me a new $5k Platinum, new $5k PCR, and a $4.9k CLI on my existing Gold 1.6k + 4.9k = 6.5k. (There was also a second Gold card opened and subsequently closed in the middle of all that.)

Six months later another HP got me a 3.5x CLI on that PCR 5k to 17.5k. But I was declined when I tried to get a CLI on the Platinum with the same pull.

A couple months after that (with another another HP ) I recieved a 2x increase on the Platinum, 5k up to 10k.
Thats pretty awesome. A couple years ago Penfed was very conservative unless you had a really strong incone/profile. I love that they are sharing their growth with their members. I have CUs who wont give me time of day because of my income /debt which is understandable but im the type that believes our credit scores and management should at least count for something. If i mess up its on me but give me the chance lol. Only 2 things left i wish from PF...to see an offer lol and get a pl offer at 5.99% lol. Neither will ever happen but one can dream

At the time, I think my biggest limit was my 7.2k Kay's card, which is only good at Kay Jewelers. My biggest spend-anywhere card was my Cap1 QS, which was like $4850. Disco was still at 2k. So a couple of 5k cards and raising another to 6.5 k was a HUGE deal for me.

Later the PCR and Platinum became my first two 5-digit credit limits, after one CLI each.

Re: PenFed CLI

AverageJoesCredit — Sat, 19 Feb 2022 16:38:35 GMT

@mgood wrote:
@AverageJoesCredit wrote:
@mgood wrote:
@AverageJoesCredit wrote:
A hp with PF can go a long way. Just sayin
No joke.

One hard pull got me a new $5k Platinum, new $5k PCR, and a $4.9k CLI on my existing Gold 1.6k + 4.9k = 6.5k. (There was also a second Gold card opened and subsequently closed in the middle of all that.)

Six months later another HP got me a 3.5x CLI on that PCR 5k to 17.5k. But I was declined when I tried to get a CLI on the Platinum with the same pull.

A couple months after that (with another another HP ) I recieved a 2x increase on the Platinum, 5k up to 10k.
Thats pretty awesome. A couple years ago Penfed was very conservative unless you had a really strong incone/profile. I love that they are sharing their growth with their members. I have CUs who wont give me time of day because of my income /debt which is understandable but im the type that believes our credit scores and management should at least count for something. If i mess up its on me but give me the chance lol. Only 2 things left i wish from PF...to see an offer lol and get a pl offer at 5.99% lol. Neither will ever happen but one can dream
At the time, I think my biggest limit was my 7.2k Kay's card, which is only good at Kay Jewelers. My biggest spend-anywhere card was my Cap1 QS, which was like $4850. Disco was still at 2k. So a couple of 5k cards and raising another to 6.5 k was a HUGE deal for me.

Later the PCR and Platinum became my first two 5-digit credit limits, after one CLI each.

My PCR which i opened over a year ago gave me 4.1k sl which was shocking considering my first card with PF never broke 1.5k. When i decided to try first cli attempt, they gave me 15.9k increase to 20k! I like to thank Navy for making PF step up their game lol.

This is why i hope OP sees why a hp may not pay off right now but it may set up a future landfall

Re: PenFed CLI

SouthJamaica — Mon, 21 Feb 2022 15:08:56 GMT

@Ms6Footer wrote:
I was on the phone w them to discuss a payment and I asked about a CLI. I asked are they hard/soft inquiry and she said they are hard. I also asked do they ever do reviews for automatic increase because I've never gotten one. She said the limit will stay the same unless o request an increase. That sucks.

Both of those answers are typical of the large majority of credit unions, in my experience.

Re: PenFed CLI

coreyb80 — Mon, 21 Feb 2022 20:19:02 GMT

@mgood wrote:
@AverageJoesCredit wrote:
A hp with PF can go a long way. Just sayin
No joke.

One hard pull got me a new $5k Platinum, new $5k PCR, and a $4.9k CLI on my existing Gold 1.6k + 4.9k = 6.5k. (There was also a second Gold card opened and subsequently closed in the middle of all that.)

Six months later another HP got me a 3.5x CLI on that PCR 5k to 17.5k. But I was declined when I tried to get a CLI on the Platinum with the same pull.

A couple months after that (with another another HP ) I recieved a 2x increase on the Platinum, 5k up to 10k.

I love PF increases and everyone always have good things to say about them. They've managed to give me 3 cards. They gave me a PCR in May with 2.5K limit. In December I requested a CLI and was bumped up to 10K. I have a gold card with 7.5K and a Rewards with 10K. Those 2 are eligible for an increase in April and I'll definitely put in a increase for both those on the same pull.

Re: PenFed CLI

ccquest — Fri, 25 Feb 2022 04:30:13 GMT

@SouthJamaica wrote:
@Ms6Footer wrote:
I was on the phone w them to discuss a payment and I asked about a CLI. I asked are they hard/soft inquiry and she said they are hard. I also asked do they ever do reviews for automatic increase because I've never gotten one. She said the limit will stay the same unless o request an increase. That sucks.
Both of those answers are typical of the large majority of credit unions, in my experience.

I thought PenFed used to add an option as an "Offer" for some people? I haven't seen it mentioned recently, but that's kinda what I was holding out for on my own account instead of a HP.

Re: PenFed CLI

coreyb80 — Fri, 25 Feb 2022 14:40:25 GMT

@ccquest wrote:
@SouthJamaica wrote:
@Ms6Footer wrote:
I was on the phone w them to discuss a payment and I asked about a CLI. I asked are they hard/soft inquiry and she said they are hard. I also asked do they ever do reviews for automatic increase because I've never gotten one. She said the limit will stay the same unless o request an increase. That sucks.
Both of those answers are typical of the large majority of credit unions, in my experience.
I thought PenFed used to add an option as an "Offer" for some people? I haven't seen it mentioned recently, but that's kinda what I was holding out for on my own account instead of a HP.

It still does happen.

Re: PenFed CLI

Ibike — Fri, 04 Nov 2022 11:40:14 GMT

This is true. I recently opened a PF checking and savings account. Through this process is a verification of identity which includes a SP on credit. Immediately after account opening I applied for the Gold Visa and was approved immediately and NO HP on credit. Guess this one is a freebe :-)

Re: PenFed CLI

Anonymous — Fri, 04 Nov 2022 20:28:35 GMT

@Ibike wrote:
This is true. I recently opened a PF checking and savings account. Through this process is a verification of identity which includes a SP on credit. Immediately after account opening I applied for the Gold Visa and was approved immediately and NO HP on credit. Guess this one is a freebe :-)

really? Lucky you I think I got dinged EQ, right after getting checking apped for PCR

Re: PenFed CLI

OmarGB9 — Fri, 04 Nov 2022 23:38:22 GMT

@Ibike wrote:
This is true. I recently opened a PF checking and savings account. Through this process is a verification of identity which includes a SP on credit. Immediately after account opening I applied for the Gold Visa and was approved immediately and NO HP on credit. Guess this one is a freebe :-)

Did you get an HP maybe a day or two later? Sometimes the HPs are delayed.

Re: PenFed CLI

coldfusion — Sat, 05 Nov 2022 11:32:37 GMT

@OmarGB9 wrote:
@Ibike wrote:
This is true. I recently opened a PF checking and savings account. Through this process is a verification of identity which includes a SP on credit. Immediately after account opening I applied for the Gold Visa and was approved immediately and NO HP on credit. Guess this one is a freebe :-)
Did you get an HP maybe a day or two later? Sometimes the HPs are delayed.

IMEit isn't that the HPs are delayed, it's that the monitoring services don't always immediately alert on a Transunion or Equifax inquiry, more than once not until the next day. I've never had an Experian HP that didn't trigger an alert within a couple of seconds.

Re: PenFed CLI

mikeef — Thu, 30 Mar 2023 11:35:28 GMT

@coldfusion wrote:
@OmarGB9 wrote:
@Ibike wrote:
This is true. I recently opened a PF checking and savings account. Through this process is a verification of identity which includes a SP on credit. Immediately after account opening I applied for the Gold Visa and was approved immediately and NO HP on credit. Guess this one is a freebe :-)
Did you get an HP maybe a day or two later? Sometimes the HPs are delayed.
IMEit isn't that the HPs are delayed, it's that the monitoring services don't always immediately alert on a Transunion or Equifax inquiry, more than once not until the next day. I've never had an Experian HP that didn't trigger an alert within a couple of seconds.

Once upon a time they were delayed to the next day, but that had more to with the legacy database systems, those systems updated the previous day's data sometime between midnight to 4am. As a 25 year web/mobile developer, I can explain that "push" notifications for devices and email API services can delayed quite a bit, depending on the API service they use, the size of the current queue and if they use a cronjob to trigger events.

Today, all 3 reports are updated in real-time. I've personally verified this a few years ago by waiting until immediatey after I submitted a tri-pull mortgage application to pull my monthly Experian 3-Bureau Report. All 3 bureaus (EX,EQ,TU) showed an inquiry for the mortgage app.

Re: PenFed CLI

FishingGuy — Thu, 30 Mar 2023 22:10:19 GMT

Same as brk1971 with me.... I used a hard pull after having one card for some time...... got approved for their Gold with a $12,500 starting line, after the approval asked them for a CLI on my power cash..... where they increased it by $2000, I was happy, but glad I requested the new card first.