topic Re: Penfed card app..... in Credit Card Applications

Penfed card app.....

Cmikul — Sun, 15 Nov 2015 02:04:23 GMT

so I didn't do enough research before opening a PenFed acct....

now looking at at their cards I don't really know which one would serve a purpose for me....but I hate to not app since its a SP.

any recommendations?

any experienced input from someone with more than one of their cards?

optaining a higher limit would be preferable to help with utilization

this would basically be just an emergency use card

Re: Penfed card app.....

Gmood1 — Sun, 15 Nov 2015 02:35:02 GMT

@Cmikul wrote:
so I didn't do enough research before opening a PenFed acct....

now looking at at their cards I don't really know which one would serve a purpose for me....but I hate to not app since its a SP.

any recommendations?
any experienced input from someone with more than one of their cards?

optaining a higher limit would be preferable to help with utilization

this would basically be just an emergency use card

For emergencies? Probably the low rate card they offer. I like the Cash Rewards for gas purposes. It's the only card I use for that. Just can't beat the unlimited 5% cash back!

Honestly any of their cards could be used for emergencies. I really haven't used my Travel Amex much. Personally, I'd get one that would at least give you perks on something if you ever decided to use it for everyday type purposes.

Re: Penfed card app.....

bldmt — Sun, 15 Nov 2015 02:46:33 GMT

I joined recently and got the Rewards card which is a Signature if that matters to you. 5 gas, 3 grocery, and 1 other. Rewards can be redeemed for gift cards, air travel, hotels etc. They gave me a fair limit at 9.9% and this week I got a used car loan at 2.49%. So far they have been great.

Re: Penfed card app.....

PNW_Hunter — Sun, 15 Nov 2015 06:52:21 GMT

I recommend either the cash rewards, the travel Amex, or the Penfed promise. The visa signature rewards card with the 5/3/1 points system is good if you don't already have an Amex BCP/EDP or SM.

I personally have the cash rewards which is my gas card, and the travel Amex, which is my airline card when I don't fly Alaska air.

Re: Penfed card app.....

Anonymous — Sun, 15 Nov 2015 07:01:24 GMT

@PNW_Hunter wrote:
I recommend either the cash rewards, the travel Amex, or the Penfed promise. The visa signature rewards card with the 5/3/1 points system is good if you don't already have an Amex BCP/EDP or SM.

I personally have the cash rewards which is my gas card, and the travel Amex, which is my airline card when I don't fly Alaska air.

Is your PLOC from penfed as well?

Re: Penfed card app.....

PNW_Hunter — Sun, 15 Nov 2015 07:06:07 GMT

You know it!

Re: Penfed card app.....

Cmikul — Thu, 19 Nov 2015 23:44:24 GMT

Pulled on Promise and got a approval in 3days....$10k

Not bad.....I'll take it at 9.9% it's the lowest APR I have which is what I needed for 'emergencies" which I define as charges I can't pay off any time soon. ...like my kid breaking his arm.

Re: Penfed card app.....

Anonymous — Thu, 19 Nov 2015 23:56:10 GMT

Congrats---They are a good CU to be with.

Re: Penfed card app.....

Anonymous — Fri, 20 Nov 2015 00:17:57 GMT

You know you might be able to get a second card, if you like. I apped for the Amex and got $11k, then several days later I got the Rewards Siggy Visa at $7k. Stilll going to be the same SP, if you decide to app for a second card.

Re: Penfed card app.....

Anonymous — Fri, 20 Nov 2015 00:20:47 GMT

Great card! Congratulations!

Re: Penfed card app.....

Cmikul — Fri, 20 Nov 2015 04:00:59 GMT

@Anonymous wrote:
You know you might be able to get a second card, if you like. I apped for the Amex and got $11k, then several days later I got the Rewards Siggy Visa at $7k. Stilll going to be the same SP, if you decide to app for a second card.

Yep, thinking about it.....don't have a need other than increase overall CL.

hate to pass up the SP opportunity though

a PLOC is actually more attractive to me than another one of their cards.

Re: Penfed card app.....

Cmikul — Sun, 22 Nov 2015 16:44:21 GMT

so the more I think about this the more I think I should app for something since it's still a SP.

More than the fear of decline is the fear of being approved so I'm in conflict on what to app for.

I want the AMEX travel...but don't need it.

I don't want the Visa Rewards but could use it.

I wouldn't mind the Visa Siggy but not sure I'll get approved.

I would like to have another PLOC in my back pocket just in case but don't want to have to send in 4506-T.

Conflicted. .......

Re: Penfed card app.....

Anonymous — Sun, 22 Nov 2015 16:55:28 GMT

Let us know.

Re: Penfed card app.....

CreditCuriosity — Sun, 22 Nov 2015 16:58:31 GMT

@Cmikul wrote:
so the more I think about this the more I think I should app for something since it's still a SP.

More than the fear of decline is the fear of being approved so I'm in conflict on what to app for.

I want the AMEX travel...but don't need it.
I don't want the Visa Rewards but could use it.
I wouldn't mind the Visa Siggy but not sure I'll get approved.
I would like to have another PLOC in my back pocket just in case but don't want to have to send in 4506-T.

Conflicted. .......

Oh within time frame of SP ask for a CLI on the one card you have with them and get that limit up before this way adding another account doesn't hurt your AAoA if that is a factor you consider.

Re: Penfed card app.....

Cmikul — Sun, 22 Nov 2015 17:51:56 GMT

Went for the PLOC and kept the requested limit matched to my Promise Visa @10k. Far below their 15k threshold of requiring documentation.

The documentation procedures at Nasa took a month and were painful to get clarified and thru-putted.

Says under review which was expected.....we'll see.

it's a SP anyway so guess that's technically still gardening...lol

Re: Penfed card app.....

Gmood1 — Sun, 22 Nov 2015 17:54:48 GMT

Cool!! You have nothing to lose. Might as well spin the wheel! Get as much out of the HP as possible.

Re: Penfed card app.....

CreditCuriosity — Sun, 22 Nov 2015 19:03:04 GMT

My PLOC was shot down pronto without even going into review .. Can't blame them as they don't know me yet along with the amount of credit I obtained in the last year

Re: Penfed card app.....

Gmood1 — Sun, 22 Nov 2015 19:06:56 GMT

^^^Lol...NASA did me the same way. It was all good and being a new member..I couldn't complain.

Re: Penfed card app.....

Cmikul — Sat, 28 Nov 2015 06:16:44 GMT

This PLOC went thru approved for the requested $10k

now wondering if I should go ahead and see if they'll grant me another card on that pull.

AAoA is at 1.5 yrs right now