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I don’t personally have any PenFed accounts, but I would think that you could be approved. Your AAoA is good, scores are good enough, and utilization is low. Good luck!
Penfed is a bit unpredictable. As long as your willing to accept an inquiry there isn't really any risk to applying. My guess is you will get approved but like I said they can be a bit hit and miss.
@tbea1004 wrote:
Is any Penfed card harder to get approved for than the others or is it the same for all the cards?
Well, the Platinum Rewards is a Visa Signature card which means a minimum $5k CL, so that is harder. And Pathfinder is a Penfed issued Amex, so it's also harder. The Penfed Promise has no rewards so it is probably the easiest, but Power Cash Rewards is also fairly easy but is only a 1.5% reward card unless you're active military or have a checking account with minimum $500 balance or $500/mo. in direct deposits for 2% rewards. But as others have noted Penfed is really hit or miss.
@DaveInAZ wrote:
@tbea1004 wrote:
Is any Penfed card harder to get approved for than the others or is it the same for all the cards?Well, the Platinum Rewards is a Visa Signature card which means a minimum $5k CL, so that is harder. And Pathfinder is a Penfed issued Amex, so it's also harder. The Penfed Promise has no rewards so it is probably the easiest, but Power Cash Rewards is also fairly easy but is only a 1.5% reward card unless you're active military or have a checking account with minimum $500 balance or $500/mo. in direct deposits for 2% rewards. But as others have noted Penfed is really hit or miss.
Power Cash Rewards is a VISA Signature as well. I swear I have seen them with less than $5K though (maybe not?) and of so it’s probably easier to get than the Platinum Rewards but not as easy as Gold (I’m not so sure Promise is easy to get considering the 4.99% on BTs and no fees).
@Anonymous wrote:
@DaveInAZ wrote:
@tbea1004 wrote:
Is any Penfed card harder to get approved for than the others or is it the same for all the cards?Well, the Platinum Rewards is a Visa Signature card which means a minimum $5k CL, so that is harder. And Pathfinder is a Penfed issued Amex, so it's also harder. The Penfed Promise has no rewards so it is probably the easiest, but Power Cash Rewards is also fairly easy but is only a 1.5% reward card unless you're active military or have a checking account with minimum $500 balance or $500/mo. in direct deposits for 2% rewards. But as others have noted Penfed is really hit or miss.
Power Cash Rewards is a VISA Signature as well. I swear I have seen them with less than $5K though (maybe not?) and of so it’s probably easier to get than the Platinum Rewards but not as easy as Gold (I’m not so sure Promise is easy to get considering the 4.99% on BTs and no fees).
Oh, I've seen a PCR with less than $5k, it was in my hot little hands. They approved me for one early 2017 with only a $1,200 CL, I don't remember if the card said 'Signature'. I closed it and my Penfed checking in July 2017 when I was approved for the PayPal 2% Cashback MC with $7k CL, it was no long worth the bother. I'm pretty sure Visa allows a card to be a "Signature" with less than a $5k CL, but Penfed sent me a mailer for the Platinum Rewards and it said "minimum $5,000 CL".
@DaveInAZ wrote:
@Anonymous wrote:
@DaveInAZ wrote:
@tbea1004 wrote:
Is any Penfed card harder to get approved for than the others or is it the same for all the cards?Well, the Platinum Rewards is a Visa Signature card which means a minimum $5k CL, so that is harder. And Pathfinder is a Penfed issued Amex, so it's also harder. The Penfed Promise has no rewards so it is probably the easiest, but Power Cash Rewards is also fairly easy but is only a 1.5% reward card unless you're active military or have a checking account with minimum $500 balance or $500/mo. in direct deposits for 2% rewards. But as others have noted Penfed is really hit or miss.
Power Cash Rewards is a VISA Signature as well. I swear I have seen them with less than $5K though (maybe not?) and of so it’s probably easier to get than the Platinum Rewards but not as easy as Gold (I’m not so sure Promise is easy to get considering the 4.99% on BTs and no fees).
Oh, I've seen a PCR with less than $5k, it was in my hot little hands. They approved me for one early 2017 with only a $1,200 CL, I don't remember if the card said 'Signature'. I closed it and my Penfed checking in July 2017 when I was approved for the PayPal 2% Cashback MC with $7k CL, it was no long worth the bother. I'm pretty sure Visa allows a card to be a "Signature" with less than a $5k CL, but Penfed sent me a mailer for the Platinum Rewards and it said "minimum $5,000 CL".
Yeah I swore I had seen some PCRs with low limits around here.
VISA Siggies can definitely be cards with less than $5K - Chase Amazon and US Bank Cash+ being great examples that are always VS - I just wasn’t sure if PenFed offered regular VISA cards like Navy Federal if you don’t get the $5K SL, if they issue VS regardless, or if it’s a denial.