Penfed CLI: SUFF OBLIGATED W/UNSEC INDEBTEDNESS

[PointLager]

Recently was approved for the card. Limit is doable but as I’d like to have the card be my primary I wanted a cli asap. My daily drivers w each of the major issuers are north of $50k limit each.

Penfed approved $10k

Anyway, my total balance across all cards on my EQ was under $1k.

Yet denied increase. Why did they state the message
SUFF OBLIGATED W/UNSEC INDEBTEDNESS
?

Are they based this off my available (though unused) limits w other banks?

I’ll try to hit them up before my Hp gets stale (90 days?) while using the card moderately. I charge $4-5k minimum per month across Citi/Chase/Amex, sometimes more but can’t put this kind of volume on a card without sufficient limit. I don’t care to constantly pay off cards to free up limit. I did that when I started in this hobby and feel like I don’t need to anymore.

Anyway. Just wondering what you guys think about the message? Do they even say “insufficient history w Penfed card”. Or did they not like my available limit. Because if it’s the latter then I won’t ever get approved due to large limits.

Thanks

[Anonymous]

I have this problem with Penfed at the moment.  My visa gold with them has a $50k limit.  No balance.  But their total allowed unsecured exposure for them total is $50k.  So even though Im at a zero balance, I have no more I can get from them unless its secured.  

Its silly considering my monthly income is $13,200.  But they do not want to budge according to their guidlines.  Oh well.  They probably came to this conslusion for you based on your other debts.  But as long as your income supports it, it shouldnt be a problem.  Penfed is weird.  One day they are throwing money at me, the next they wont approve me for nothing.  But they have been good to me.  I have two car loans with less than 3% interest, and the $50k limit card.

[Gmood1]

Did you receive your survey yet? State your concerns in the survey. Someone will call you. It's sometimes easier to open another card than get a CLI with them.
@ The other poster. You can call them and have some of the limit on one card moved to another. If you want to open another CC.

[K-in-Boston]

That likely translates to "we feel that for your income you have enough revolving credit among all of your cards," as I received something similar that their loan officer translated for me (and subsequently granted me the CLI).  As Gmood1 said, you could express yur dissatisfaction in the survey, or just call and ask to speak with a loan officer to reconsider your application.  Doesn't sound like you have balances to transfer, but that can be an effective way to get them to budge from my experience.

[PointLager]

Thanks guys. Yes my survey link doesn’t work. It’s def limit related.

I don’t want to open any new cards with them as I want to keep my new account numbers low so I can hit up Chase next year when I drop under 5/24