topic Re: Penfed second card - is it safe to apply? in Credit Cards

Penfed second card - is it safe to apply?

Anonymous — Thu, 28 Mar 2013 19:54:13 GMT

hi fico

Thanks to all members for giving great advise here.

I just got approve for PenFed Platinum Rewards card with 20K CL.

So I am thinking that as my first Hard pull is still good can i apply for PenFed premium travel rewards too or not?

Is it safe to apply for two cards in one day? or i should wait for sometime.

Re: Penfed second card - is it safe to apply?

bbb3601 — Thu, 28 Mar 2013 21:18:48 GMT

I honestly don't know, but what an awesome 1st card!! I want PenFed so bad I can taste it. congrats

Re: Penfed second card - is it safe to apply?

Sevenfeet — Thu, 28 Mar 2013 22:18:23 GMT

I would wait. They likely gave you the amount they were comfortable with, so they'd be less inclined to give you more right now. I tried the same approach by asking for a standard line of credit about 3 weeks after the initial approval so that I wouldn't get another hard pull. Indeed, I avoided the pull but was turned down anyway.

Re: Penfed second card - is it safe to apply?

Anonymous — Fri, 29 Mar 2013 00:58:32 GMT

PenFed gives you option of getting another card without any additional credit check by keeping with total credit line same. i.e. splitting existing credit line partly with new card.

I used that option to get Amex which gives 5X points on standalone flights plus it has no annual fees.

I used part of my Gas cash rewards card credit line to get Amex within 3 weeks after first one was received.

Re: Penfed second card - is it safe to apply?

LS2982 — Fri, 29 Mar 2013 01:02:40 GMT

@Sevenfeet wrote:
I would wait. They likely gave you the amount they were comfortable with, so they'd be less inclined to give you more right now. I tried the same approach by asking for a standard line of credit about 3 weeks after the initial approval so that I wouldn't get another hard pull. Indeed, I avoided the pull but was turned down anyway.

I agree, you should gie it at least 6 months before doing another app.

Re: Penfed second card - is it safe to apply?

Anonymous — Fri, 29 Mar 2013 01:22:49 GMT

LS did they do me a favor approving me 5 months from the first card?Jus a thought

Re: Penfed second card - is it safe to apply?

LS2982 — Fri, 29 Mar 2013 01:25:06 GMT

@Anonymous wrote:
LS did they do me a favor approving me 5 months from the first card?Jus a thought

It's YMMV. there's no set time frame from when you can app from 1st to 2nd card. The general concensus is to let the new INQ age for 6 months then go for it.

Re: Penfed second card - is it safe to apply?

Anonymous — Fri, 29 Mar 2013 01:28:31 GMT

@LS2982 wrote:
@Anonymous wrote:
LS did they do me a favor approving me 5 months from the first card?Jus a thought
It's YMMV. there's no set time frame from when you can app from 1st to 2nd card. The general concensus is to let the new INQ age for 6 months then go for it.

Kool,Thanks

Re: Penfed second card - is it safe to apply?

lg8302ch — Fri, 29 Mar 2013 01:35:27 GMT

way to go! hope Chase will notice this CL
I would probably wait and apply later on for the 2nd card. Pls let us know the outcome if you decide to app now.
Good luck!