topic Re: PenFed transferring CL in Credit Cards

PenFed transferring CL

Gmood1 — Thu, 25 Jun 2015 18:30:47 GMT

How does PenFed operate when you opt to use a current SL to fund another card with them? I have basically a 15k gas card with them. That's all I use it for. Considered a Amex for travel rewards to maximize the use of both cards. Will they allow me to make the initial card say $1500 and the Amex $13,500? How long before it show details in your account? Thanks for any info!

Re: PenFed transferring CL

Anonymous — Thu, 25 Jun 2015 19:00:54 GMT

@Gmood1 wrote:
How does PenFed operate when you opt to use a current SL to fund another card with them? I have basically a 15k gas card with them. That's all I use it for. Considered a Amex for travel rewards to maximize the use of both cards. Will they allow me to make the initial card say $1500 and the Amex $13,500? How long before it show details in your account? Thanks for any info!

Never heard of PenFed allowing CL transfers to open another card. Only way for you to know for sure is to call them.

Re: PenFed transferring CL

Gmood1 — Thu, 25 Jun 2015 20:39:00 GMT

Thanks for the reply. I called and talked to a CSR. They approved me for the Amex Rewards 14k. My Cash Rewards is supposed to drop to $1000 CL. Since I normally use about $250 a month in gas.

Re: PenFed transferring CL

Anonymous — Thu, 25 Jun 2015 20:41:40 GMT

@Gmood1 wrote:
Thanks for the reply. I called and talked to a CSR. They approved me for the Amex Rewards 14k. My Cash Rewards is supposed to drop to $1000 CL. Since I normally use about $250 a month in gas.

Thanks for the info. It's good to know that they do that and good that it worked out for you.

Re: PenFed transferring CL

Gmood1 — Sat, 27 Jun 2015 16:34:04 GMT

Hey Irish it may have worked out better than I originally thought! Their system originally turned me down for the Amex. So I called them to see what could be done.I told them they could just make the Cash Rewards $1000(originally $15K) and Amex Travel Rewards $14,000. Well.. they knocked the Cash Rewards down to $14,000. The new account for the Amex also shows $14,000 as of this morning. If they leave it as is. I will have added another $13,000 in CL without another Inq.

The FICO on their site says I have a 679 score.