Penfed utilization

[Anonymous]

Hello. I am going to apply for a second Penfed card. All my scores will be low 800s. My other PEnfed card's statement balance is zero;I did use the cash advance feature on my card so I will have a balance when I apply.

Even though my statement balance will be zero when I apply will my current balance hurt me with their underwriting?

How much inter statement utilization is acceptable? Thank you!

[hawkins]

Cash advance feature? Doesn't that cost a butt ton of money?

[M_Smart007]

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@hawkins wrote:

Cash advance feature? Doesn't that cost a butt ton of money?

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Some Credit Unions do not charge for Cash Advances.

[M_Smart007]

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@Anonymous wrote:

Hello. I am going to apply for a second Penfed card. All my scores will be low 800s. My other PEnfed card's statement balance is zero;I did use the cash advance feature on my card so I will have a balance when I apply.

Even though my statement balance will be zero when I apply will my current balance hurt me with their underwriting?

How much inter statement utilization is acceptable? Thank you!

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You might list your Cash Advance amount compared to your line of credit, not so we can judge you,

But so we could give you better advice?

I understand if you do not want to share this.

[Anonymous]

10 k of 20 k limit... using the cash advance just for liquid so I can pay off other cards before I app...

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@M_Smart007 wrote:

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@Anonymous wrote:

Hello. I am going to apply for a second Penfed card. All my scores will be low 800s. My other PEnfed card's statement balance is zero;I did use the cash advance feature on my card so I will have a balance when I apply.

Even though my statement balance will be zero when I apply will my current balance hurt me with their underwriting?

How much inter statement utilization is acceptable? Thank you!

---

You might list your Cash Advance amount compared to your line of credit, not so we can judge you,

But so we could give you better advice?

I understand if you do not want to share this.

---

[AverageJoesCredit]

If you already have a 20k PF card with 800 scores, im going to go out on a limb and say youll be fine for another card, even with balance. If your income is good which i assume so with a 20k limit, all the better. Penfed either like you or they dont and usually the tells are in how they treat  you with credit cards

[coldfusion]

They would like you better if you spent the next few months reliably making a large (as in $1K+) payment each month against that balance and then applying for the additional card.

[M_Smart007]

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@Anonymous wrote:

10 k of 20 k limit... using the cash advance just for liquid so I can pay off other cards before I app...

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@M_Smart007 wrote:

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@Anonymous wrote:

Hello. I am going to apply for a second Penfed card. All my scores will be low 800s. My other PEnfed card's statement balance is zero;I did use the cash advance feature on my card so I will have a balance when I apply.

Even though my statement balance will be zero when I apply will my current balance hurt me with their underwriting?

How much inter statement utilization is acceptable? Thank you!

---

You might list your Cash Advance amount compared to your line of credit, not so we can judge you,

But so we could give you better advice?

I understand if you do not want to share this.

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Thanks for sharing your data, Keep us posted on how it goes.

Truly wishing you Good Luck and success

Have a Happy 4th of July!

[Anonymous]

Approved for the gold with 25k. My EQ 8 was 786 before a BIG payment reported so I assume it was 810 or so at the time of app.My statemnet balance was zero and my current balance was around 10k. Thank you for the help.

@M_Smart007 

[AllZero]

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@Anonymous wrote:

Approved for the gold with 25k. My EQ 8 was 786 before a BIG payment reported so I assume it was 810 or so at the time of app.My statemnet balance was zero and my current balance was around 10k. Thank you for the help.

@M_Smart007 

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Congratulations on your approval!