topic Re: PenFed CLI Transfer Important Change in Credit Cards

PenFed CLI Transfer Important Change

atst2000 — Thu, 09 May 2019 21:52:50 GMT

So called PenFed to move over my Pathfinder CL to my PCR as I am not using it as much. The rep advised me that they can now only move up to $25k on one card, meaning the highest limit on any card now is $25k. I asked when did this change because it has always been $50k and he said just a couple months ago. Just wanted to give everyone a heads up. Went ahead and transferred enough to make it 25k but will effectively close down the Pathfinder in a couple days.

Re: PenFed CLI Transfer Important Change

Jnbmom — Thu, 09 May 2019 22:03:29 GMT

Since I never get a CLI on pendread I guess I don't have to worry 😂😂😂 you hear me AJC

But good info on their new guidelines

Re: PenFed CLI Transfer Important Change

Anonymous — Thu, 09 May 2019 23:18:30 GMT

thats bummer for me too because i was thinking to move 2 10k limit cards to my 30k limit card to make it 50k limit on 1 card. lets hope thats not true info coming out of csr.

Re: PenFed CLI Transfer Important Change

Credit-hoarder — Fri, 10 May 2019 00:25:52 GMT

Thinking $25k might not be the maximum limit--but the maximum amount they'll let you transfer over...?

Re: PenFed CLI Transfer Important Change

AverageJoesCredit — Fri, 10 May 2019 00:26:58 GMT

Penfed rocks

Re: PenFed CLI Transfer Important Change

Shooting-For-800 — Fri, 10 May 2019 00:35:40 GMT

@Credit-hoarder wrote:
Thinking $25k might not be the maximum limit--but the maximum amount they'll let you transfer over...?

That is the way I read it too...

Re: PenFed CLI Transfer Important Change

atst2000 — Fri, 10 May 2019 01:17:34 GMT

That’s what I thought too but I asked a second time and I said “so you can’t have more than $25k on ANY card?” He said “Yes”.

Re: PenFed CLI Transfer Important Change

bigpoppa09 — Fri, 10 May 2019 02:07:21 GMT

This explains why they gave me $4500 on my CLI last month to make it 25K this sucks i was hoping to push it higher.

Re: PenFed CLI Transfer Important Change

wingennis — Fri, 10 May 2019 02:08:29 GMT

PenFed just makes me sad 😞

Re: PenFed CLI Transfer Important Change

Anonymous — Fri, 10 May 2019 02:56:52 GMT

I think the rep may not be fully informed. There isn’t a company in the world that would deny someone who can charge and pay off $50,000/mo. I love PenFed and it is also one of my highest limits, and use their other products as well and I would like to wave a Damian Lillard goodbye to anyone who wants to close their accounts because they can no longer obtain a $50,000 limit they absolutely don’t need and can’t utilize in any way.

Re: PenFed CLI Transfer Important Change

AverageJoesCredit — Fri, 10 May 2019 02:58:22 GMT

I beg to differ. There are plenty of company's or credit card lenders who could cancel your accounts for various reasons regardless how much you can or do spend monthly. Chase, Amex, Barclays, etc have closed accounts of big spenders for reasons ranging from perceived fraud, too many accounts, to reasons we will never know. We are but numbers to big companies/ lenders/ credit unions and as soon as we dont add up to their bottom line, theyll cut ties faster than i can say Lolwut.

Penfed really has hit bottom. Id rather join Credit One, at least i know what im capable of receiving

Re: PenFed CLI Transfer Important Change

Anonymous — Fri, 10 May 2019 03:06:00 GMT

They could, but that is rare and any of those reasons listed aren’t reasons to avoid a lender. PenFed has been great for me and plenty of others, enjoy Credit One.

Re: PenFed CLI Transfer Important Change

AverageJoesCredit — Fri, 10 May 2019 03:19:04 GMT

Thank you. Im sure my card will swipe faster than anyone else's It even says Nascar🙋‍♂️

Re: PenFed CLI Transfer Important Change

atst2000 — Fri, 10 May 2019 22:27:48 GMT

Because I wanted to ensure I gave everyone the right info, I called again and sure enough it is true

Only $25k max on any card. Rule was changed in March. Doesn't matter if moving CL or getting a CLI...only $25k max.

Re: PenFed CLI Transfer Important Change

Peteyglad — Fri, 10 May 2019 22:38:23 GMT

And the reasons to get a PenFed card keep getting fewer and fewer.

Re: PenFed CLI Transfer Important Change

CreditCuriosity — Sat, 11 May 2019 15:48:18 GMT

Strange as my penfed is higher than 25k... guess existing people are grandfathered in? Seems like a big and recent change if indeed true.

Re: PenFed CLI Transfer Important Change

odd_dog — Sat, 11 May 2019 16:12:35 GMT

@CreditCuriosity wrote:
Strange as my penfed is higher than 25k... guess existing people are grandfathered in? Seems like a big and recent change if indeed true.

Don't know CC, I hope so....Last month I received an email from PenFed, that said my two cards combined was over $50K, Path was $35K and PowerC was $25.5K. They said let us know which to cancel or lower limit so both cards are under 50K total...... I dumped $15K off Path and it was done in about a week....SO I am under the $50K BUT PowerC still has $25.5K I am guessing we are grandfathered....BUT could get an email from them about lopping off the $0.5 on PowerC....LOL