@AverageJoesCredit wrote:
@FinStar wrote:@Anonymous - IME, I don't think spend really matters or triggers it. There's been periods of non-usage on PenFed CCs + deposit balances relatively flat and I still received pre-approved offers. I think it took about 1+ year for me to see them, then again I joined in early 2015.
It's definitely hit or miss since there's been quarters when they pop-up and others where crickets serenade me. They're definitely looking at time with PenFed, overall profile and EQ9 from what I can discern.
So Finny, is my time 20 years?😁
Ill be so old when i get an offer, that my cranberry will be insane
😆😆😆 @AverageJoesCredit Gosh let's hope not!
One thing I noticed, though just speculation, whenever I ummm ...you know...left the garden 🪴 just for a little stroll, the offers would go away. Once I stayed in for a good bit, they reappeared 🤷♂️ So, I'm sure they're monitoring active credit seeking, cranberry fields, pot holes, the fate of the universe...
The request CLI link just showed up for the PCR card I opened on 12/27/2020 The SL was low at $1,500 as I have not used credit for 15+ years except for a single mortgage. My EQ9 currently shows as 834 and AAoA is 10 years 5 months. I started to open card accounts back in Sept of 2019 and now have 8 total cards and one car loan showing along with my 19 year old mortgage. Highest limit is DCU Visa reward with $10,000 limit. Other significant cards are AMEX Gold and Platinum. I spend an average of close to $3,000 per month on the PenFed card (they take forever to update credit limit after each payment and I pay daily to keep as much available credit as possible.) I spend around $10K - $15K monthly combined on the two AMEX cards. I really want to get my Pen Fed limit up. My DTI is extremely low and I am more than happy to verify income for them. I also carry large liquid balances in my investment accounts and several checking / savings accounts so liquidity and payment should not be a concern.
My 6 month anniversary is on 6/27 ( a few weeks from now ). Should I wait until after the 6 month mark? Should I call and request a loan officer to explain my situation and offer to submit income verification? Would a live conversation be more likely to get me what I am after? I have a lot of large expenses coming up for an out of the country wedding and would love to be able to use this card to pay for them. I am hoping to get them to increase me to their $25,000 max for a single card. This limit will allow me to make several of the payments i need to make (The venue does not accept AMEX). Hoping for some insight to guide me on the best path here.
Thanks in advance for any advice you can all offer.
Bill
@FinStar wrote:
@bilwilvegas wrote:The request CLI link just showed up for the PCR card I opened on 12/27/2020 The SL was low at $1,500 as I have not used credit for 15+ years except for a single mortgage. My EQ9 currently shows as 834 and AAoA is 10 years 5 months. I started to open card accounts back in Sept of 2019 and now have 8 total cards and one car loan showing along with my 19 year old mortgage. Highest limit is DCU Visa reward with $10,000 limit. Other significant cards are AMEX Gold and Platinum. I spend an average of close to $3,000 per month on the PenFed card (they take forever to update credit limit after each payment and I pay daily to keep as much available credit as possible.) I spend around $10K - $15K monthly combined on the two AMEX cards. I really want to get my Pen Fed limit up. My DTI is extremely low and I am more than happy to verify income for them. I also carry large liquid balances in my investment accounts and several checking / savings accounts so liquidity and payment should not be a concern.
My 6 month anniversary is on 6/27 ( a few weeks from now ). Should I wait until after the 6 month mark? Should I call and request a loan officer to explain my situation and offer to submit income verification? Would a live conversation be more likely to get me what I am after? I have a lot of large expenses coming up for an out of the country wedding and would love to be able to use this card to pay for them. I am hoping to get them to increase me to their $25,000 max for a single card. This limit will allow me to make several of the payments i need to make (The venue does not accept AMEX). Hoping for some insight to guide me on the best path here.
Thanks in advance for any advice you can all offer.
Bill
@bilwilvegas - I would wait until you've passed the 6-month mark for best results. If your account doesn't yield any pre-approved offers (which can include a CLI, auto loans, new loan products, etc.), then you can proceed with submitting your CLI request. Keep in mind this will result in a HP.
Given the initial $1.5K SL, it is doubtful they'll increase it to $25K. Unfortunately, there isn't an option to speak with an UW. Most calls are usually handled by frontline agents who can typically relay any information to the UW team if necessary. If your request is not approved, then you can explore your options at that point.
Thank you for the reply. I will definitely wait until the 6 month mark. I only have $20,000 sitting with them. If I raised my balance to $100,000 would that possibly influence them to give me the increase?
Thanks!
Bill
When no quarterly SP offers showed up today I took the risk and requested the CLI knowing I would get a HP for it.
The result was worth it :-) Details in a new post on the credit card approvals board. Just wanted to post this as a follow up after so many of you offered advice to my question in this thread.
