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PenFed CLI

Ms6Footer
Contributor

PenFed CLI

I was on the phone w them to discuss a payment and I asked about a CLI.  I asked are they hard/soft inquiry and she said they are hard.  I also asked do they ever do reviews for automatic increase because I've never gotten one. She said the limit will stay the same unless o request an increase.  That sucks. 

Message 1 of 12
11 REPLIES 11
AverageJoesCredit
Legendary Contributor

Re: PenFed CLI

A hp with PF can go a long waySmiley Wink. Just sayinSmiley Happy

Message 2 of 12
brk1971
Frequent Contributor

Re: PenFed CLI

And one HP can be used more than once for the same product line... In my case, the HP for my 2nd card was used for my CLI request on the 1st card (in that order).  Rep told me that it 'might cause' another HP (but it didn't).

Fico8 = EQ 779, TU 802, EX 771 (6/22/2022), util = 6.5% ish
INQ in 12 mo: EQ 4, TU 4, EX 7
Cards: NFCU: Flagship VS $45k, Plat $24.3k, Plat $10.7k | Amex: Delta Reserve $50k | Citi: DC WE MC $28.8k | Discover: It $22.5k | Barclays: Juniper $15.25k | USAA: PCR VS $15k, RA $5k | UMB: SR VS $15k | PenFed: Path VS $20k, Plat Rew VS $15k | Synchrony: Lowes’s store $25k | Truist: Bright $10.5k, Bright $6.5k | Cap1: Venture1 Plat MC $10.3k, Kohls store $3k | Comenity: MyCash MC $17.5k | Wells Fargo: AC $10.3k | TD Bank: Target MC $6k (Reports as retail card despite now being MC) | BoA: CCR VS $30k | Affinity FCU: Premium VS $25k
Message 3 of 12
AverageJoesCredit
Legendary Contributor

Re: PenFed CLI


@brk1971 wrote:

And one HP can be used more than once for the same product line... In my case, the HP for my 2nd card was used for my CLI request on the 1st card (in that order).  Rep told me that it 'might cause' another HP (but it didn't).


Correct. The new Penfed has been pretty amazing imo though establishing some history with them never hurtsSmiley Wink

Message 4 of 12
mgood
Established Contributor

Re: PenFed CLI


@AverageJoesCredit wrote:

A hp with PF can go a long waySmiley Wink. Just sayinSmiley Happy


No joke.

 

One hard pull got me a new $5k Platinum, new $5k PCR, and a $4.9k CLI on my existing Gold 1.6k + 4.9k = 6.5k. (There was also a second Gold card opened and subsequently closed in the middle of all that.)

 

Six months later another HP got me a 3.5x CLI on that PCR 5k to 17.5k. But I was declined when I tried to get a CLI on the Platinum with the same pull.

 

A couple months after that (with another another HP Smiley Frustrated ) I recieved a 2x increase on the Platinum, 5k up to 10k.



Starting Score: EQ8 680, TU8 713, EX8 701
Current Score: EQ8 739, TU8 733, EX8 742
Goal Score: EQ8 780, TU8 780, EX8 780

Take the myFICO Fitness Challenge
10 days until Gold Spade
Message 5 of 12
AverageJoesCredit
Legendary Contributor

Re: PenFed CLI


@mgood wrote:

@AverageJoesCredit wrote:

A hp with PF can go a long waySmiley Wink. Just sayinSmiley Happy


No joke.

 

One hard pull got me a new $5k Platinum, new $5k PCR, and a $4.9k CLI on my existing Gold 1.6k + 4.9k = 6.5k. (There was also a second Gold card opened and subsequently closed in the middle of all that.)

 

Six months later another HP got me a 3.5x CLI on that PCR 5k to 17.5k. But I was declined when I tried to get a CLI on the Platinum with the same pull.

 

A couple months after that (with another another HP Smiley Frustrated ) I recieved a 2x increase on the Platinum, 5k up to 10k.


Thats pretty awesomeSmiley Happy. A couple years ago Penfed was very conservative unless you had a really strong incone/profile. I love that they are sharing their growth with their members. I have CUs who wont give me time of day because of my income /debt which is understandable but im the type that believes our credit scores and management should at least count for something.  If i mess up its on me but give me the chance lol. Only 2 things left i wish from PF...to see an offer lol and get a pl offer at 5.99% lol. Neither will ever happen but one can dreamSmiley Wink

Message 6 of 12
mgood
Established Contributor

Re: PenFed CLI


@AverageJoesCredit wrote:

@mgood wrote:

@AverageJoesCredit wrote:

A hp with PF can go a long waySmiley Wink. Just sayinSmiley Happy


No joke.

 

One hard pull got me a new $5k Platinum, new $5k PCR, and a $4.9k CLI on my existing Gold 1.6k + 4.9k = 6.5k. (There was also a second Gold card opened and subsequently closed in the middle of all that.)

 

Six months later another HP got me a 3.5x CLI on that PCR 5k to 17.5k. But I was declined when I tried to get a CLI on the Platinum with the same pull.

 

A couple months after that (with another another HP Smiley Frustrated ) I recieved a 2x increase on the Platinum, 5k up to 10k.


Thats pretty awesomeSmiley Happy. A couple years ago Penfed was very conservative unless you had a really strong incone/profile. I love that they are sharing their growth with their members. I have CUs who wont give me time of day because of my income /debt which is understandable but im the type that believes our credit scores and management should at least count for something.  If i mess up its on me but give me the chance lol. Only 2 things left i wish from PF...to see an offer lol and get a pl offer at 5.99% lol. Neither will ever happen but one can dreamSmiley Wink


At the time, I think my biggest limit was my 7.2k Kay's card, which is only good at Kay Jewelers. My biggest spend-anywhere card was my Cap1 QS, which was like $4850. Disco was still at 2k. So a couple of 5k cards and raising another to 6.5 k was a HUGE deal for me.

 

Later the PCR and Platinum became my first two 5-digit credit limits, after one CLI each.



Starting Score: EQ8 680, TU8 713, EX8 701
Current Score: EQ8 739, TU8 733, EX8 742
Goal Score: EQ8 780, TU8 780, EX8 780

Take the myFICO Fitness Challenge
10 days until Gold Spade
Message 7 of 12
AverageJoesCredit
Legendary Contributor

Re: PenFed CLI


@mgood wrote:

@AverageJoesCredit wrote:

@mgood wrote:

@AverageJoesCredit wrote:

A hp with PF can go a long waySmiley Wink. Just sayinSmiley Happy


No joke.

 

One hard pull got me a new $5k Platinum, new $5k PCR, and a $4.9k CLI on my existing Gold 1.6k + 4.9k = 6.5k. (There was also a second Gold card opened and subsequently closed in the middle of all that.)

 

Six months later another HP got me a 3.5x CLI on that PCR 5k to 17.5k. But I was declined when I tried to get a CLI on the Platinum with the same pull.

 

A couple months after that (with another another HP Smiley Frustrated ) I recieved a 2x increase on the Platinum, 5k up to 10k.


Thats pretty awesomeSmiley Happy. A couple years ago Penfed was very conservative unless you had a really strong incone/profile. I love that they are sharing their growth with their members. I have CUs who wont give me time of day because of my income /debt which is understandable but im the type that believes our credit scores and management should at least count for something.  If i mess up its on me but give me the chance lol. Only 2 things left i wish from PF...to see an offer lol and get a pl offer at 5.99% lol. Neither will ever happen but one can dreamSmiley Wink


At the time, I think my biggest limit was my 7.2k Kay's card, which is only good at Kay Jewelers. My biggest spend-anywhere card was my Cap1 QS, which was like $4850. Disco was still at 2k. So a couple of 5k cards and raising another to 6.5 k was a HUGE deal for me.

 

Later the PCR and Platinum became my first two 5-digit credit limits, after one CLI each.


My PCR which i opened over a year ago gave me 4.1k sl which was shocking considering my first card with PF never broke 1.5k. When i decided to try first cli attempt, they gave me 15.9k increase to 20k! I like to thank Navy for making PF step up their game lolSmiley Wink

 

This is why i hope OP sees why a hp may not pay off right now but it may set up a future landfallSmiley Happy

Message 8 of 12
SouthJamaica
Mega Contributor

Re: PenFed CLI


@Ms6Footer wrote:

I was on the phone w them to discuss a payment and I asked about a CLI.  I asked are they hard/soft inquiry and she said they are hard.  I also asked do they ever do reviews for automatic increase because I've never gotten one. She said the limit will stay the same unless o request an increase.  That sucks. 


Both of those answers are typical of the large majority of credit unions, in my experience.


Total revolving limits 699000 (597000 reporting) FICO 8: EQ 718 TU 721 EX 698

Message 9 of 12
coreyb80
Senior Contributor

Re: PenFed CLI


@mgood wrote:

@AverageJoesCredit wrote:

A hp with PF can go a long waySmiley Wink. Just sayinSmiley Happy


No joke.

 

One hard pull got me a new $5k Platinum, new $5k PCR, and a $4.9k CLI on my existing Gold 1.6k + 4.9k = 6.5k. (There was also a second Gold card opened and subsequently closed in the middle of all that.)

 

Six months later another HP got me a 3.5x CLI on that PCR 5k to 17.5k. But I was declined when I tried to get a CLI on the Platinum with the same pull.

 

A couple months after that (with another another HP Smiley Frustrated ) I recieved a 2x increase on the Platinum, 5k up to 10k.


I love PF increases and everyone always have good things to say about them.  They've managed to give me 3 cards.  They gave me a PCR in May with 2.5K limit.  In December I requested a CLI and was bumped up to 10K.  I have a gold card with 7.5K and a Rewards with 10K.  Those 2 are eligible for an increase in April and I'll definitely put in a increase for both those on the same pull.  

Message 10 of 12
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