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Penfed offers

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Trinzero
Contributor

Re: Penfed offers

So we know for sure these practices of targeted offers are no more?

What then are these "my offers" ? 🤔

It is confusing because it shows "you're approved for" and also "pre-qualified offers". 😵

These two phrases mean entirely different things, at least to me. 

 

 

Message 21 of 29
coldfusion
Community Leader
Mega Contributor

Re: Penfed offers


@Credit-hoarder wrote:

@CerebralZulu wrote:

 


@Credit-hoarder wrote:

I got the same 2 offers also. Was able to get the loan app to load but not the credit card. Would have been nice to finally get the last $3800 I need to make my Promise a $50k card. Smiley Wink


Is Penfed still allowing cards up to 50K? I read that was a thing of the past.


You can still only go up to $50k--but if it's a new card after the change took place a sometime back (can't remember exactly when)--it's $25k max per card up to 2 cards.


From memory it was about 30 months ago.  There was some confusion when they first instituted the $25K policy as for that particular quarter they gave out some offers that would have raised a CL to > $25K that they later denied when cardholders tried to accept.   They later backed off and let those offers be processed.

 

The $25K per card limit is still in effect although they are still grandfathering older cards with a > $25K limit.

(5/2024)
FICO 8 (EX) 846 (TU) 850 (EQ) 850
FICO 9 (EX) 850 (TU) 850 (EQ) 850

$1M+ club

Artist formerly known as the_old_curmudgeon who was formerly known as coldfusion
Message 22 of 29
mgood
Valued Contributor

Re: Penfed offers


@coldfusion wrote:

@Credit-hoarder wrote:

@CerebralZulu wrote:

 


@Credit-hoarder wrote:

I got the same 2 offers also. Was able to get the loan app to load but not the credit card. Would have been nice to finally get the last $3800 I need to make my Promise a $50k card. Smiley Wink


Is Penfed still allowing cards up to 50K? I read that was a thing of the past.


You can still only go up to $50k--but if it's a new card after the change took place a sometime back (can't remember exactly when)--it's $25k max per card up to 2 cards.


From memory it was about 30 months ago.  There was some confusion when they first instituted the $25K policy as for that particular quarter they gave out some offers that would have raised a CL to > $25K that they later denied when cardholders tried to accept.   They later backed off and let those offers be processed.

 

The $25K per card limit is still in effect although they are still grandfathering older cards with a > $25K limit.


Yes, I believe it's $25k max per card ($15k max on the Gold card), and $50k total across however many PenFed cards you have. So you could potentially have two $25k cards. I have a $17.5k PCR, $15k Platinum, and $6.5k Gold. That's $39k total. I could possibly get an $11k Pathfinder or $11k worth of CLIs on my existing cards. (I'll kick that Gold card to the curb if it becomes a limiting factor though.)

 

There are people with higher limits, as mentioned. They had them before the current rules were put in place.



EQ8 769, TU8 766, EX8 765 as of July 24
AZE7 - 3% Utl - New Cards: 1/6, 3/12, 6/24
Message 23 of 29
CreditCuriosity
Moderator Emeritus

Re: Penfed offers


@coldfusion wrote:

@Credit-hoarder wrote:

@CerebralZulu wrote:

 


@Credit-hoarder wrote:

I got the same 2 offers also. Was able to get the loan app to load but not the credit card. Would have been nice to finally get the last $3800 I need to make my Promise a $50k card. Smiley Wink


Is Penfed still allowing cards up to 50K? I read that was a thing of the past.


You can still only go up to $50k--but if it's a new card after the change took place a sometime back (can't remember exactly when)--it's $25k max per card up to 2 cards.


From memory it was about 30 months ago.  There was some confusion when they first instituted the $25K policy as for that particular quarter they gave out some offers that would have raised a CL to > $25K that they later denied when cardholders tried to accept.   They later backed off and let those offers be processed.

 

The $25K per card limit is still in effect although they are still grandfathering older cards with a > $25K limit.


Correct I am grandfathered in..  Not sure if they fixed bug with > 25k CLI offer or not

Message 24 of 29
wingennis
Valued Contributor

Re: Penfed offers


@CerebralZulu wrote:

 


@Credit-hoarder wrote:

I got the same 2 offers also. Was able to get the loan app to load but not the credit card. Would have been nice to finally get the last $3800 I need to make my Promise a $50k card. Smiley Wink


Is Penfed still allowing cards up to 50K? I read that was a thing of the past.


They have a total limit of 50k unless you have grandfathered accounts IRC.

Message 25 of 29
coldfusion
Community Leader
Mega Contributor

Re: Penfed offers


@wingennis wrote:

@CerebralZulu wrote:

 


@Credit-hoarder wrote:

I got the same 2 offers also. Was able to get the loan app to load but not the credit card. Would have been nice to finally get the last $3800 I need to make my Promise a $50k card. Smiley Wink


Is Penfed still allowing cards up to 50K? I read that was a thing of the past.


They have a total limit of 50k unless you have grandfathered accounts IRC.


The grandfathering has nothing to do with the total limit across all cards, the ability to grow one's aggregate limit up to $50K if the profile warrants it hasn't changed.    It relates to us cardholders who already held a card or cards whose individual limit(s) exceeded their new cap (I have a $45K PCR) have been able to keep those limits but we can't grow them. I wouldn't mind closing my $5K Platinum but I couldn't transfer the limit or come back later and recapture it to end up with a $50K PCR.

 

 

(5/2024)
FICO 8 (EX) 846 (TU) 850 (EQ) 850
FICO 9 (EX) 850 (TU) 850 (EQ) 850

$1M+ club

Artist formerly known as the_old_curmudgeon who was formerly known as coldfusion
Message 26 of 29
Rogue46
Established Contributor

Re: Penfed offers

I've been with Penfed since 2017 and the only offer I ever get is the quickloan for $2k





Message 27 of 29
Traveler101
Established Contributor

Re: Penfed offers

@coldfusion wrote:
@wingennis wrote:
@CerebralZulu wrote:
@Credit-hoarder wrote:
I got the same 2 offers also. Was able to get the loan app to load but not the credit card. Would have been nice to finally get the last $3800 I need to make my Promise a $50k card. Smiley Wink
Is Penfed still allowing cards up to 50K? I read that was a thing of the past.
They have a total limit of 50k unless you have grandfathered accounts IRC.
The grandfathering has nothing to do with the total limit across all cards, the ability to grow one's aggregate limit up to $50K if the profile warrants it hasn't changed. It relates to us cardholders who already held a card or cards whose individual limit(s) exceeded their new cap (I have a $45K PCR) have been able to keep those limits but we can't grow them. I wouldn't mind closing my $5K Platinum but I couldn't transfer the limit or come back later and recapture it to end up with a $50K PCR.
Tis true per a customer service rep. Limits are based on an individuals profile. I exceeded the 25k..maybe a year to a year and half ago. But ineligible for a cli above the 32600 I currently sit at. I tried lol.
Message 28 of 29
Johnnyb1
New Visitor

Re: Penfed offers

I got pre-approved for 6k on the Gold card then got denied after submitting app.

Message 29 of 29
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