Another Penfed cli denial

[Aduke1122]

Yay congrats AJC I'm really happy to see it worked out , even if it is a smaller increase it's still some upward movement and that is something to be proud of . I wish Mavy would even just give me a little increase like this on mine . If they deny me again at my one year mark I'm gonna send them a recon and let them know how I feel , not being ugly to them of course but I will tell them that even a small increment would be fine by me . Congrats again to you !!

[AverageJoesCredit]

Thank you Aduke. I have no clue if they factored in my email plus survey but im very happy at least it was something. I truely hope you can get something from Mavy as 9 months seems to be good enough for birth should be good enough to at least bump you up. I dont know how recon is with Navy have you ever called them ( you probably have as i know its an ongoing battle for tou, just canr remember). When is your 1st year up?

[AllCredit]

Congrats AJC!  I'm very happy you decided to stick with them a bit longer! 

[AverageJoesCredit]

Yup, me too Allcredit. They are , for now anyway my longterm goal of getting a great rate for a new car when im ready. Dealers stuck it to me 1st go around , didnt know any better and let all my cards be near max level but this time im learning and want to go to a dealer fully armed lol

[Aduke1122]

Hey lol Mavy haha stupid auto correct , my One year anniversary is in July so I guess I'll wait for that July AR them give it a go , I have tried to recon their decision one time by sending a secured message but of course didn't work out lol 😂 I have called and spoke to a rep about CLI process and how long should I wait bf I ask for one and she stated most ppl don't ask until somewhere around 9 mths to a year .

[AverageJoesCredit]

Lol, most people not on MyFico

[Anonymous]

Hey, I'm a little (LOT) late to the party AJC but had to say YOWZA...Congrats man!!!

You have the patience of a Saint and the determination of a Jedi Warrior!!

Well done my friend, well done!!

[AverageJoesCredit]

Lol, thanks Wade, Val Kilmer has nothing on me and i almost made Jedi but it was determined im too old

[DaveInAZ]

Hey, Average Joe, I missed this earlier as I just joined Penfed May 8 - congrats on your CLI, perseverance & patience.

Patience usually isn't my strong suit, but I am willing to be patient for something important to me. My main interest in Penfed is a Home Equity Line of Credit, I app'd for a $25k HELOC as soon as I joined. That's a long process, rep told me around 60 days minimum to close. So I app'd for the Powercash Rewards as I wanted a 2% rewards card for the "non-category" spending I've been throwing to my Barclays & Cap One 1.5% cards. I got the minimum $500 CL By comparison I got approved for the Amex BCE in late April with $15k CL. I've read that Penfed hates high utilization, and while I'm currently only at 11% overall, I have a Cap One card at 49% from a BT. The 0% is good through October 2018, so I'm in no hurry to pay it off/significantly down just to please creditors. But also by comparison my BoA card started as a $300 CL secured card and is now an $1800 CL unsecured Cash Rewards card.

So I decided to go for the 3 month $1500 spend on Powercash for the $100 bonus. I think thats a high spend requirement, Amex is giving me $150 for a $1k spend, and Cap One cards are only $500 spend for $100. But, a free hundred bucks is still nice, and I think running that much through the card should make a good case for a CLI. I spoke with a rep last week trying to get a manual release around that 7-10 day hold to available credit for payments during the first 6 months of membership - was told to "call back next month", which I took as "No, we won't waive the restiction during your first month, but after that maybe". I mentioned to the rep that I was disappointed in the starting CL and that I hoped running that much spend thru a low limit card should be a good case for a CLI. She told me that it's typically 6 months for a CLI, but you can try in 2 months. I've also read here that if they can't close your HELOC within 2 months they do another HP. so if I see that I'm going to try a CLI on Powercash, hopefully they'll use that HELOC HP.

BTW, my Penfed EX score is 689, so hopefully I'm not entering in Penfed with a "dirty profile".

[AverageJoesCredit]

Thanks Davein AZ. wish you all the best on completing your Heloc. I was very happy to finally win this battle. Not sure i want to go to war for another cli in the future though. With my income and normal everyday bills, i dont think ill ever have a suitable dti ratio good enough to get much more but im ok with that. 1500 is plenty good enough. I wouldnt woory too much about a dirty profile, we just gotta move forward and continue bettering our profiles and if someone doesnt appreciate it, always other fish in the sea