Back to back PenFed pre-approvals?

[ohjoy]

I received a pre-approval offer from PenFed for the Gold Card maybe a couple weeks ago. I decided to give it a go because of the 0% balance transfer offer. I applied and was approved for $12,500. Today, I received a pre-approval offer for their Power Cash Rewards. What's the likelihood that they'll approve 2 cards, back to back? Has anyone been approved for 2 cards like this?

My Fico9 score is 750.

[coldfusion]

I haven't seen a lot of success stories but I've seen a couple of reports before where someone was approved for a 2nd card within 30 days of the 1st card although with a fairly low SL IIRC on card #2. 

Keep in mind that the data collected and mined to establish both of these prequals was done before you had even applied for the 1st card. Since you had accepted the 1st offer that may impact your odds of approval for the 2nd card. 

[ohjoy]

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@coldfusion wrote:

I haven't seen a lot of success stories but I've seen a couple of reports before where someone was approved for a 2nd card within 30 days of the 1st card although with a fairly low SL IIRC on card #2. 

Keep in mind that the data collected and mined to establish both of these prequals was done before you had even applied for the 1st card. Since you had accepted the 1st offer that may impact your odds of approval for the 2nd card. 

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Makes sense. Thank you!

[Mad12345]

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@ohjoy wrote:

I received a pre-approval offer from PenFed for the Gold Card maybe a couple weeks ago. I decided to give it a go because of the 0% balance transfer offer. I applied and was approved for $12,500. Today, I received a pre-approval offer for their Power Cash Rewards. What's the likelihood that they'll approve 2 cards, back to back? Has anyone been approved for 2 cards like this?

My Fico9 score is 750.

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Pen Fed approved me for 2 cards within 1 week of each other on 1 hard pull. Both cards have a $7500 limit. My EQ9 was 800 according to the letter they sent.

[mau471]

I got the platinum rewards and power cash the same day with the same pull both with 10k limit. I had to provide income verification for the second approval but otherwise no issues.

EQ Fico 9 is 740

[Metalcards]

I received the pre qualified mailer offer for their gold visa. I applied and was a approved. Downloaded app on phone in anticipation of my new card and  I saw the cash rewards card advertisement. I felt lucky and applied for it. I was approved for it 2 days later after review.

fico - 758

[ohjoy]

So, apparently I'm approved for the 2nd card. I just have to upload my last two paychecks in the morning. We'll see what the limit looks like.

[FinStar]

Hopefully, the conditional approval meets your needs once POI is taken into account by UW.  Good luck with the final outcome!

[FalconSteve]

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@ohjoy wrote:

I received a pre-approval offer from PenFed for the Gold Card maybe a couple weeks ago. I decided to give it a go because of the 0% balance transfer offer. I applied and was approved for $12,500. Today, I received a pre-approval offer for their Power Cash Rewards. What's the likelihood that they'll approve 2 cards, back to back? Has anyone been approved for 2 cards like this?

My Fico9 score is 750.

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It is a bit of a coin toss, but it is also soon enough that they should use the same hard pull (you can lock your reports before applying to be sure)

[ohjoy]

Almost forgot to report back. 2nd card also approved for $15,000. PenFed must really be looking for accounts now. I also just received two more solicitations. Car refinance and mortgage. I remember when i first joined and was denied a card because of no experience with them even tho my scores were good. I was furious! I snatched my money out and only left maybe $100 in checking and savings, not doing anymore business with them. 

Eventually they offered me a $25K personal loan. I took the full amount but used the money to quickly repay it down to like 4% balance, so that I had a $25K PenFed loan experience on record. Other than that, I wasn't interested in doing business with them. Now they seem to be throwing everything at me. They have a long way to become Navy Federal in my book.

Thanks for the feedback, everyone.