3/5 Update - PenFed Offer

[Anonymous]

Hello,

3/5 Update

I pulled the trigger this morning and the app went to review.  I received a request to unfreeze my credit report.  I am confused as I thought they would be able to SP the frozen credit report.  Does this mean that PenFed was doing a HP?

__________________________________________________

I joined with a savings account in 2019.  I just received my first offer and I am excited for a chance to get the PCR with a SP.  I am a little hesitant because the interest rate shows 17.99 which is high and it doesn't show a limit. 

Are the interest rates on the offers set or is there a possibility that it would be lower?  Has anyone received a CC offer without a limit?

FYI  my offer was not located with the Turbo Tax it was a little higher on the page

[Loquat]

I'm sure your limit will be determined at the time of app as things may have changed in your profile since the prescreen.

[4sallypat]

Same situation - have a savings account for 2 years and got the same card offer.

Mine only points me to the Platinum Rewards @ 17.99%:

Is this a good offer ??

[FinStar]

@4sallypat - "good offer" is really subjective.

For those who are interest rate conscious (or prefer lower APRs) in the long run, perhaps not.  For those who PIF, the APR is a non-event if the desire to be approved is the main goal.  You'd also need to consider the benefits and rewards (as applicable) on that particular product to determine if it's the right fit for your needs.

[Wavester64]

Thank God for Turbo Tax or I would never have anything in there 

[M_Smart007]

Like this?

[Anonymous]

Nice approval  @M_Smart007 

[SecretAzure]

Lol I got a mailer from PenFed yesterday for their "Gold" card. Which as far as I'm concerned should be renamed the brown card for how generic it seems. A temporary intro offer of 0% APR for 1 year. No benefits beyond that really. APR was ~15.99%. I was mildly offended since they'd sent me an offer for the Rewards card before. 

Anywho, they're still solid. I say the above in jest. I appreciate that they're one of the few who send me solid APR's. Congrats OP!

[4sallypat]

Yes, when they ask you to unfreeze / unlock your credit it means they will do a HP.

I do wish they do a SP since they have our SSN already on file...

I'll hold out for a pre-approved card...

[M_Smart007]

---

@4sallypat wrote:

Yes, when they ask you to unfreeze / unlock your credit it means they will do a HP.

I do wish they do a SP since they have our SSN already on file...

I'll hold out for a pre-approved card...

---

A single HP is not all that bad. (It's not like the boogie man is coming to get you)

Yes you can lose a couple FICO's for it ..

Nothing ventured  ..Nothing gained.

On that same note, nothing wrong with holding out for a SP offer