topic Re: penfed overdraft loc in Personal Finance

penfed overdraft loc

mfinsmi1 — Mon, 18 Jul 2022 17:43:12 GMT

the only thing penfed has preapproved me for since becoming a member 2 months ago is an Overdraft line of credit - is this a good way to build a relationship wih them for the future ? or is this kind of a pointless thing to waste a HP for?

Re: penfed overdraft loc

cashorcharge — Mon, 18 Jul 2022 22:01:13 GMT

I feel like this is a personal preference thing. PenFed is focused on many things, not just an existing account before approving for more. If it were me, I would hold off if your set on awaiting a pre-approval...otherwise, just apply for a card.

Re: penfed overdraft loc

SouthJamaica — Tue, 19 Jul 2022 11:13:25 GMT

@mfinsmi1 wrote:
the only thing penfed has preapproved me for since becoming a member 2 months ago is an Overdraft line of credit - is this a good way to build a relationship wih them for the future ? or is this kind of a pointless thing to waste a HP for?

I don't think you should apply for any credit product you wouldn't value having, just to "build a relationship". You would get the hard pull and the new account effects just the same as you would get for a product you really wanted to have.