topic Re: PenFed max CL on credit cards? in Credit Cards

PenFed max CL on credit cards?

merlinflex — Sat, 02 Jun 2018 16:01:00 GMT

Anyone know if PenFed has max CL ceiling on the credit cards? Currently at $50K on the PenFed Power Cash Rewards Visa. Their FICO shows me at 826. Was thinking of doing a request for CLI, but didn't know if I hit the max CL with them. Thanks!

Re: PenFed max CL on credit cards?

Anonymous — Sat, 02 Jun 2018 15:11:08 GMT

$50k is the max. $100k total credit allocation is also the max. You can have a $50K CC, $25k LOC and a $25k Personal loan. Of course car loans, mortgages, etc are separate.

Re: PenFed max CL on credit cards?

Anonymous — Sat, 02 Jun 2018 15:13:26 GMT

I edited your image as it contained your full name. You can insert it again after you delete that part of it.

Re: PenFed max CL on credit cards?

merlinflex — Sat, 02 Jun 2018 16:01:33 GMT

@Anonymous wrote:
I edited your image as it contained your full name. You can insert it again after you delete that part of it.

Got and thanks, missed that edit! good looking out!

Re: PenFed max CL on credit cards?

merlinflex — Sat, 02 Jun 2018 16:05:44 GMT

@Anonymous wrote:
$50k is the max. $100k total credit allocation is also the max. You can have a $50K CC, $25k LOC and a $25k Personal loan. Of course car loans, mortgages, etc are separate.

Ok, so I have the $50K visa now and a $25K LOC but no PL. Have a few car loans with them and thats it. Was actually thinking of that PenFed Pathfinder Rewards Amex Card, but going by what you said above, means I would be limited to $25K max, which still isn't bad. Would that be right?

Re: PenFed max CL on credit cards?

CreditCuriosity — Sat, 02 Jun 2018 16:15:15 GMT

@merlinflex wrote:
@Anonymous wrote:
$50k is the max. $100k total credit allocation is also the max. You can have a $50K CC, $25k LOC and a $25k Personal loan. Of course car loans, mortgages, etc are separate.
Ok, so I have the $50K visa now and a $25K LOC but no PL. Have a few car loans with them and thats it. Was actually thinking of that PenFed Pathfinder Rewards Amex Card, but going by what you said above, means I would be limited to $25K max, which still isn't bad. Would that be right?

Cant get the Amex... CC's are restricted at 50k across all CC's.. You would have to reallocate some of your Card limit to do so

Re: PenFed max CL on credit cards?

merlinflex — Sat, 02 Jun 2018 16:25:59 GMT

Fizzlesticks!!! I am batting an almost big fat zero the last few weeks. I couldn't get Chase to budge on any APR reductions either. I was able to get a few thousands in CLIs on my Citi's Diamond and AA cards and my Total Rewards Visa, but that was it.

To be honest, not really looking to buy anything, just feeling like it's been a year since I have done anything with my cards as far as CLIs or APR reductions, so felt like I should be exploring that now and probably a little bored. lol

Re: PenFed max CL on credit cards?

UpperNwGuy — Sat, 02 Jun 2018 17:50:27 GMT

Sounds to me like you have plenty of credit. I wouldn't be trying to increase it.

Re: PenFed max CL on credit cards?

Anonymous — Sun, 03 Jun 2018 04:18:09 GMT

Why would anyone want more than 50K limit on a CC , isn't that a little scary if someone gets a hold of your information ...

Re: PenFed max CL on credit cards?

Gmood1 — Sun, 03 Jun 2018 04:41:49 GMT

@Anonymous wrote:
Why would anyone want more than 50K limit on a CC , isn't that a little scary if someone gets a hold of your information ...

Scary? Not really, you're not held responsible for someone stealing your information and making fradulent charges.

Some members actually use those limits. Spending $50k a month is normal for them. If a individual doesn't have discipline. It doesn't matter if your limit is $5k or $50k. CCs might not be a good idea for that person.

Merlin it may be time to look into the high roller CUs, if you're after limits north of $50k. That would be CUs such as Andrews FCU , First Tech FCU and UNFCU.

Re: PenFed max CL on credit cards?

Anonymous — Sun, 03 Jun 2018 04:34:08 GMT

@Anonymous wrote:
Why would anyone want more than 50K limit on a CC , isn't that a little scary if someone gets a hold of your information ...

Isn't that kinda like saying "why would anyone want a billion dollars cash in the bank? Hackers might get your funds".

The only way to be safe from fraud is to keep a safe full of cash. Many times you can't pay your rent or rent a car with cash.

Wealthy people can spend $10k to $20k on a single shopping spree. That would be 20% to 40% of utilization on your $50k credit card.