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PenFed Conditional Approval

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Frequent Contributor

Re: PenFed Conditional Approval

Yes I have two PCR cards and a gold card. My first PCR Card is a Platinum Card and my second one is a signature card.
Current Cards (in order they were approved with current limits):
Cap1 QS (plat.) $2750
Kohls $3K
Cap1 Savor $15K
PenFed Power Cash Rewards $2K
NFCU CashRewards $2K
Disco It #1 $5.3K
NFCU MoreRewards $4.5K
Cap1 Venture $30K
PenFed Gold $2K
Ollo Rewards $3.2K
Sync Amazon $10K
NASA FCU Platinum Cash Rewards $2K
Disco It #2 $7.5K
DCU Visa $10K
NFCU Flagship Rewards $15K
Sync Care Credit $15K
PenFed Power Cash Rewards #2 $39K
WF Propel $4K
Comenity AKC $10.5K
Apple (GS) $6.5K
BK 7 discharged July 2016


Message 11 of 13
Frequent Contributor

Re: PenFed Conditional Approval

OP in case you don’t know there is a $100 bonus statement credit for the PCR Card if you spend 1.5K in first 90 days.
Also I should mention they can be slow to free up your available credit after you make a payment on the card. You get credited for the payment right away but it takes awhile for your available credit to be restored. It’s a pain in the neck but I’m pretty sure it only happens when you are new to PenFed. It didn’t happen with my 2nd or 3rd cards. Just be aware they have some odd limitations for all new members. I think it takes at least 30 days before you can use mobile deposit. After 3 or 6 months (I can’t remember which) I was able to deposit $5K a day into my checking with instant fund availability. Good things come to those who wait at PenFed but there is a lot of waiting..... Smiley Happy
Current Cards (in order they were approved with current limits):
Cap1 QS (plat.) $2750
Kohls $3K
Cap1 Savor $15K
PenFed Power Cash Rewards $2K
NFCU CashRewards $2K
Disco It #1 $5.3K
NFCU MoreRewards $4.5K
Cap1 Venture $30K
PenFed Gold $2K
Ollo Rewards $3.2K
Sync Amazon $10K
NASA FCU Platinum Cash Rewards $2K
Disco It #2 $7.5K
DCU Visa $10K
NFCU Flagship Rewards $15K
Sync Care Credit $15K
PenFed Power Cash Rewards #2 $39K
WF Propel $4K
Comenity AKC $10.5K
Apple (GS) $6.5K
BK 7 discharged July 2016


Message 12 of 13
Established Member

Re: PenFed Conditional Approval

@Hex thanks for the additional commentary about PenFed. I also opened a checking acct with them as I don’t have any issue with keeping $500 balance or setting up direct deposit, still debating which as I did ask how long I had to setup DD before getting charged a monthly fee. I was told I have 90 days so I’m good there. Thinking more about this, it may be possible why they decided to offer a PCR card as a consolation prize to getting rejected for the Pathfinder Amex.

Good to know about the waiting for new customers, I will not plan move everything there so quickly!
Starting Score: 536
Current Score EQ Fico9: 744
Goal Score: 800

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Message 13 of 13
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