topic Re: AutoIncrease From Penfed? in Credit Cards

AutoIncrease From Penfed?

Cory — Mon, 22 Mar 2010 14:58:14 GMT

Hello,

Has anyone ever received an auto credit card increase from any of the penfed card products? I am coming up on a year at the end of this month with my credit card, and I want to get an increase.

Thank you for your responses!

Cory

Re: AutoIncrease From Penfed?

Anonymous — Mon, 22 Mar 2010 16:10:02 GMT

I talked to a CSR there just last week and here is what he said to me:

They pull quarterly reports on their members. You're technically eligible for a CLI at 6 months, however they don't do them at that time. The first CLI that they generally give is a 1 year.

If that one year CLI is automated or not I didn't ask. My guess is that it isn't, and you would have to initiate the request.

Re: AutoIncrease From Penfed?

Cory — Mon, 22 Mar 2010 17:14:51 GMT

Thank you for your response! I am thinking of initiating a request next week. What the heck! I'll do it right now.

Cory

Re: AutoIncrease From Penfed?

Anonymous — Mon, 22 Mar 2010 17:16:22 GMT

@Cory wrote:
Thank you for your response! I am thinking of initiating a request next week. What the heck! I'll do it right now.

Cory
Make sure it doesn't result in a hard inquiry. If it does, it's not worth it.

Re: AutoIncrease From Penfed?

haulingthescoreup — Mon, 22 Mar 2010 23:14:13 GMT

@Cory wrote:

Hello,

Has anyone ever received an auto credit card increase from any of the penfed card products? I am coming up on a year at the end of this month with my credit card, and I want to get an increase.

Thank you for your responses!

Cory

Yes, you'll get them if everything else is going well. I got mine at 7 months or so, but that was 2 years ago. Soon after, they went to 1 year.

One day when you log on, you see a message about offers over on the left. When you click on it, there will be a range of goodies, and you can pick which one. Both of mine have been soft inqs. The first time I chose a CLI on my existing card, and the second time I chose a line of credit, which came up as a new account, which it was.

Here's a link: http://ficoforums.myfico.com/t5/Credit-Cards/PenFed-waving-offers-around-again/td-p/488285

For some reason, there are acres of white space on that post, but scroll down, and you'll see their typical offerings.