Ha ha I spooked the Penfed Loan Officer...

[Anonymous]

Hope it works out for you and you did well to send in the documents.  Still I think you could have avoided the issue and had an easier time getting approved had you just waited to apply for the loan and CLI after the lower balances had reported.  Much easier to get approved up front than to overturn a denial.

[baller4life]

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@Anonymous wrote:

Hope it works out for you and you did well to send in the documents.  Still I think you could have avoided the issue and had an easier time getting approved had you just waited to apply for the loan and CLI after the lower balances had reported.  Much easier to get approved up front than to overturn a denial.

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Great point Irish!

[Loquat]

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@Anonymous wrote:

Hope it works out for you and you did well to send in the documents.  Still I think you could have avoided the issue and had an easier time getting approved had you just waited to apply for the loan and CLI after the lower balances had reported.  Much easier to get approved up front than to overturn a denial.

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+1  I'm with you on this one Irish.  That's just much to have to explain although I'm sure the paid statements from the OP helps.  Since utilization has no memory I would have rode it out a while longer and let balances update.  Nonetheless, congrats to you OP on knocking out a lot of debt in a small amount of time and best of luck to you...I hope your hard work is fruitful with PenFed.

[Andy77]

So...update...they denied the Bill Consolidation loan because they said the best APR they could get me was 17 %

They approved the Visa increase by 10k...so that brought me to 15k.....then I called back and asked for 5k more to 20k total and they approved that...

Although, now I am worried because two reps verbally told me their systems says the card is at 20k limit, but I only see 15k when I log in....

Hopefully it just needs overnight to update ...anyone else experienced a lag in the new credit limit showing up on Penfed.org ?

[baller4life]

Congratulations!! Yes there is a delay in cli updates. You should see it in the next couple of days.

[Loquat]

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@baller4life wrote:
Congratulations!! Yes there is a delay in cli updates. You should see it in the next couple of days.

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+1. It took 2 days for my CLI to show. And congrats on the increase!

[cgabriel]

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@Andy77 wrote:

So...update...they denied the Bill Consolidation loan because they said the best APR they could get me was 17 %

They approved the Visa increase by 10k...so that brought me to 15k.....then I called back and asked for 5k more to 20k total and they approved that...

Although, now I am worried because two reps verbally told me their systems says the card is at 20k limit, but I only see 15k when I log in....

Hopefully it just needs overnight to update ...anyone else experienced a lag in the new credit limit showing up on Penfed.org ?

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Yep, just experienced the same thing where it took a day for the online system to reflect my new limit.

Give them a call tomorrow if you don't see an update.

Congrats on the approvals!!

[echoecho]

+4 same here. In general Penfed is slow updating thier web site.

[Imperfectfuture]

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@Loquat wrote:

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@Anonymous wrote:

Hope it works out for you and you did well to send in the documents.  Still I think you could have avoided the issue and had an easier time getting approved had you just waited to apply for the loan and CLI after the lower balances had reported.  Much easier to get approved up front than to overturn a denial.

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+1  I'm with you on this one Irish.  That's just much to have to explain although I'm sure the paid statements from the OP helps.  Since utilization has no memory I would have rode it out a while longer and let balances update.  Nonetheless, congrats to you OP on knocking out a lot of debt in a small amount of time and best of luck to you...I hope your hard work is fruitful with PenFed.

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+1k.  I wait till it reports the way I want.  Of course, if the debt consolidation was an urgency, this could be plan b.

[Anonymous]

Well done on your CL increase!