PENFED PCR Approved but...Should I decline or recon the offer?

[Anonymous]

Hey guys! 

I was approved for the Power Cash Awards $1000 SL. 

So on one hand I'm happy about the approval because I need to grow my file...but I'm disappointed with the SIL.  ( And I know I shouldn't be...but I'm so bummed. 

My Data Points: 

EQ : 777 ( at application)

Cards: Amex HH $5000 / 9% utilization/ PIF each month. 

An old SYNC closed acct dating back to 2008 - reporting as paid as agreed - positive.   

That's all on my report. No other loans or cards. No baddies. No lates no Enquires (at time of application).

Anyway- I applied for Membership and while that was pending also applied for the card (I'm hindsight perhaps I should have waited). 

They requested a ton of documents from me to verify my Identity. By the end of the process I had provided my DL, 1040 Tax doc, US Passport, W2, Chase Bank Statement and SSN Card. The SSNcard I couldn't find intially which spawned the request for the other documents. 

The CSR's were not rude. But I didn't quite experience the warm and fuzzy treatment some folks have described here. 

Intially I was considering a recon on that SIL...but as I thought about it over the weekend, I'm considering declining the card all together and perhaps reapplying in a couple months in hopes of getting a better SL. 

What say you? 

Next month I'll be applying for my first 3xCLI on the Amex. And I'll be apping for the Discover It and the Macy's Amex before gardening for a year. 

[M_Smart007]

keep the card ask for a CLI in 6 months.

[Anonymous]

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@M_Smart007 wrote:

keep the card ask for a CLI in 6 months.

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Hey @M_Smart007 

I guess this is also an option....🤔

But will the lower SIL affect my future limits on other cards? I'm going for my first CLI on the Amex next month and also will be apping for the Discover IT and the Macy's Amex...

6 months is such a long time! But I can wait if that's the best option. 

[Jnbmom]

Isn't there another thread about this very topic??

[Anonymous]

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@Jnbmom wrote:

Isn't there another thread about this very topic??

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Hey there!

Perhaps it was mine? I do have a thread on my application for

PenFed Membership and cc application process under - CC applications- which I updated this morning to approved with this same question in my update under the post. 

Wasn't sure if it was going to be closed since it was approved and I had this follow up question. 

My sincerest apologies if this was the wrong move. Pls delete or merge accordingly.

Thanks 

[Brian_Earl_Spilner]

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@Anonymous wrote:

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@Jnbmom wrote:

Isn't there another thread about this very topic??

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Hey there!

Perhaps it was mine? I do have a thread on my application for

PenFed Membership and cc application process under - CC applications- which I updated this morning to approved with this same question in my update under the post. 

Wasn't sure if it was going to be closed since it was approved and I had this follow up question. 

My sincerest apologies if this was the wrong move. Pls delete or merge accordingly.

Thanks 

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You're fine because a mod will lock the other thread. I would take the card and hopefully it will grow as you build history with them.

[AverageJoesCredit]

im not so sure of building history with them as i had a Promise card @ $1500 and " created " history over the course of a year with 9n time payments and usage and it didnt help much. 

However id recommend to keep it because somehow i feel they remember all to well when you close a card lol. I closed mine regrettably and have been 8n even bigger doghouse since lol. Just my opinion. Keep it and hope you get offers in future.

[Brian_Earl_Spilner]

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@AverageJoesCredit wrote:

im not so sure of building history with them as i had a Promise card @ $1500 and " created " history over the course of a year with 9n time payments and usage and it didnt help much. 

However id recommend to keep it because somehow i feel they remember all to well when you close a card lol. I closed mine regrettably and have been 8n even bigger doghouse since lol. Just my opinion. Keep it and hope you get offers in future.

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Well, I had a NFCU cash Rewards that didn't grow for 19 months and I couldn't get approved for anything else. Still haven't gotten a monster starting limit or huge increase. Everyone said to keep that to create history.

[Anonymous]

@Anonymous Personally I would accept the card since you already took the hp, you can feel free to recon the SL. 

Ultimately its your choice. Since you are planning to app for more cards in the next month or two, ask yourself if you really need this card? Do you have a purpose for this card? You can always apply again at a later date.

Good luck with whatever you decide! 

[AllZero]

Congratulations on your approval! Accept the offer.