topic Re: Prepping for some PenFed moves in Credit Card Applications

Prepping for some PenFed moves

sarux3 — Sat, 30 Apr 2022 18:53:37 GMT

As I'm cleaning up my credit profile and wiping out balances left and right, I'm naturally looked ahead to next steps. I'm fairly confident that I'll be well-positioned to ask PenFed for CLI's on both my PCR and Platinum Rewards cards after my PCR statement cycles in a couple weeks -- by then I should be at around 7-8% utilization across all revolving lines with everything reporting below 30% and over half of my 26 lines reporting zero. Both PenFed cards will also be below 9% by the time that statement cuts (right now the PCR statement utilization is over 50%, so of course I am waiting on this one and other lines to update before I make moves involving HPs -- last month was a big pay-down period for me!). Currently my EQ FICO 9 (PenFed's score of choice) is reporting 653 as of 3/31, and I can expect that it will be higher now and especially after 5/17 when I'm thinking of pulling the CLI lever. As of today, my FICO 8's are EX 681, TU 655, EQ 672.

I say all that to preface my question not about the CLI's, but about the PenFed Pathfinder card. What is the typical score necessary for getting hooked up with one of these bad boys? I don't have a travel card yet, and the SUB is both appealling and doable with the spend requirement... plus, the 12% BT promo applies to this card and I'm thinking about doing some BT for a couple of my store cards with promos expiring over the next few months. I could get the Pathfinder, knock out the SUB spend quick, then squeeze in my BT's during the 0% promo window later in the year. Well, that's what I'm thinking at the moment anyway...

If I were to app the Pathfinder after my PCR statement cuts to show my credit profile at its best, would my (probably higher than 653) FICO 9 be in a good place for approval? And also, would I then be able to use the HP from that Pathfinder app to be considered for CLIs on my other two PenFeds? I know that I'm capped at $50k exposure across all of PenFed's cards, and I'm at $15k now, so therej's plenty of room to grow in my opinion!

Re: Prepping for some PenFed moves

7774x — Sat, 30 Apr 2022 20:46:34 GMT

@sarux3 wrote:
As I'm cleaning up my credit profile and wiping out balances left and right, I'm naturally looked ahead to next steps. I'm fairly confident that I'll be well-positioned to ask PenFed for CLI's on both my PCR and Platinum Rewards cards after my PCR statement cycles in a couple weeks -- by then I should be at around 7-8% utilization across all revolving lines with everything reporting below 30% and over half of my 26 lines reporting zero. Both PenFed cards will also be below 9% by the time that statement cuts (right now the PCR statement utilization is over 50%, so of course I am waiting on this one and other lines to update before I make moves involving HPs -- last month was a big pay-down period for me!). Currently my EQ FICO 9 (PenFed's score of choice) is reporting 653 as of 3/31, and I can expect that it will be higher now and especially after 5/17 when I'm thinking of pulling the CLI lever. As of today, my FICO 8's are EX 681, TU 655, EQ 672.

I say all that to preface my question not about the CLI's, but about the PenFed Pathfinder card. What is the typical score necessary for getting hooked up with one of these bad boys? I don't have a travel card yet, and the SUB is both appealling and doable with the spend requirement... plus, the 12% BT promo applies to this card and I'm thinking about doing some BT for a couple of my store cards with promos expiring over the next few months. I could get the Pathfinder, knock out the SUB spend quick, then squeeze in my BT's during the 0% promo window later in the year. Well, that's what I'm thinking at the moment anyway...

If I were to app the Pathfinder after my PCR statement cuts to show my credit profile at its best, would my (probably higher than 653) FICO 9 be in a good place for approval? And also, would I then be able to use the HP from that Pathfinder app to be considered for CLIs on my other two PenFeds? I know that I'm capped at $50k exposure across all of PenFed's cards, and I'm at $15k now, so therej's plenty of room to grow in my opinion!

PenFed uses EQ ..was denied with 670... approved 685 ,who knows for sure with penfed

Re: Prepping for some PenFed moves

sarux3 — Sun, 01 May 2022 01:40:12 GMT

@7774x wrote:
PenFed uses EQ ..was denied with 670... approved 685 ,who knows for sure with penfed

Thanks for the DP. I'm not in the habit of tracking my EQ9 but PenFed's mobile app shows me the last time I was close to 685 was last July at 682. I'm hopeful that after all my paydown has been reported to CRA's over the next few weeks, it'll climb back up into that territory. I know that if I were strictly interested in a 0% BT offer, then I could app for the Gold which has lower UW standards than Pathfinder (or so I am led to believe). But, I'd really like to have a card that will be useful to me after I've paid off the BT.