cancel
Showing results for 
Search instead for 
Did you mean: 

Pentagon Federal Credit Union Data Share

Your FICO® Scores can impact your loan interest rates, terms, approvals and more.
Frequent Contributor

Re: Pentagon Federal Credit Union Data Share

Has anyone ever had their platinum power cash rewards card upgraded to a signature card once their credit limit was increased to the $5K threshold?
Message 5531 of 5,587
Highlighted
Community Leader
Valued Contributor

Re: Pentagon Federal Credit Union Data Share


@Hex wrote:
Has anyone ever had their platinum power cash rewards card upgraded to a signature card once their credit limit was increased to the $5K threshold?

Not from PF but from NFCU.

Most will send out the new sig card once you cross the threshold, not all but most.

When my NFCU card went over $5000, the VS was mailed out automatically & I received it about 10 days later. 

 

If you don't want to wait & see, you can do as YoungMan suggested and request a new card due to damage/non-functioning chip. 




Message 5532 of 5,587
Frequent Contributor

Re: Pentagon Federal Credit Union Data Share

Yes I called again and had to open a new card to get a signature reward version. APR went from 11.99 to 17.99 when I did it but at I never carry a balance long enough to pay interest. Hopefully in a year they will lower the APR. You can’t have everything.
Message 5533 of 5,587
Community Leader
Valued Contributor

Re: Pentagon Federal Credit Union Data Share


@Hex wrote:
Yes I called again and had to open a new card to get a signature reward version. APR went from 11.99 to 17.99 when I did it but at I never carry a balance long enough to pay interest. Hopefully in a year they will lower the APR. You can’t have everything.

I think there's a disconnect here..

PenFed has a Platinum card that offers low interest & rewards points.

They also have a Power Cash Rewards that gives CB.

If you had the Platinum Card, going to the PCR would be considered a product change, not just an upgrade.

 

Perhaps that's where the issue is??  Or did you have a Cash Reward card that increased it's CL over $5000??




Message 5534 of 5,587
Frequent Contributor

Re: Pentagon Federal Credit Union Data Share

I’ve had a power cash rewards with a 2K limit and a 17.99% interest rate since July of ‘17. I requested a new power cash rewards this morning because I needed a larger spending limit to pay for my sick dogs vet bills and get the best cashback I can. I have a Venture Card with a 30K limit but I’m looking to offset all the current and future vet bills so I’ll have more money for vet bills (my dog has chronic heart failure and I’m expecting many large bills and I’m not looking to travel). I asked for the new card because I was hoping if I could qualify for 5K I would get the signature version because I had been hoping to get that version all along. The CSR at first said I couldn’t apply for a card I already had and then when I said I thought I could to get the signature version she put me on hold and checked with someone and said I could apply for a CLI and if the limit was $5K it would turn into a signature card right away and the next one they sent would say it on
It. I wasn’t convinced but decided to believe her. I was approved for a credit limit increase up to $41K with a 11.99% APR which I saw under approvals on the website. I kept being nervous about it actually becoming a signature card so I called back and asked how I would be able to tell and asked if they would be sending me any paperwork about the increased benefits. The 2nd CSR checked with someone and said it wouldn’t be a signature card unless I applied for a new card so I did. I kept the original $2K card and got a second power cash rewards with a $39K limit but it will be a signature card. When I looked at the second approval the APR was 17.99. I guess because it’s a new card. The APR is kind of a drag but I can charge $2700 (which was the cost of my last doggie ICU stay) without going over 7.99% utilization which is great. I had to put the last bill on my Venture card.
Message 5535 of 5,587
Frequent Contributor

Re: Pentagon Federal Credit Union Data Share

Actually the new APR is 16.99% (I had rounded up in my head) thats 1% lower than it was on my last statement so I’m happy. Anyway there’s a new data point confirming that PenFed won’t upgrade to a signature card without a new app. dispite what CSR might say. Now I just have to figure out how to make sure my new card is the one linked to 2% cashback. The CSR said they both would but I’ve read otherwise.
Message 5536 of 5,587
Community Leader
Valued Contributor

Re: Pentagon Federal Credit Union Data Share


@Hex wrote:
I’ve had a power cash rewards with a 2K limit and a 17.99% interest rate since July of ‘17. I requested a new power cash rewards this morning because I needed a larger spending limit to pay for my sick dogs vet bills and get the best cashback I can. I have a Venture Card with a 30K limit but I’m looking to offset all the current and future vet bills so I’ll have more money for vet bills (my dog has chronic heart failure and I’m expecting many large bills and I’m not looking to travel). I asked for the new card because I was hoping if I could qualify for 5K I would get the signature version because I had been hoping to get that version all along. The CSR at first said I couldn’t apply for a card I already had and then when I said I thought I could to get the signature version she put me on hold and checked with someone and said I could apply for a CLI and if the limit was $5K it would turn into a signature card right away and the next one they sent would say it on
It. I wasn’t convinced but decided to believe her. I was approved for a credit limit increase up to $41K with a 11.99% APR which I saw under approvals on the website. I kept being nervous about it actually becoming a signature card so I called back and asked how I would be able to tell and asked if they would be sending me any paperwork about the increased benefits. The 2nd CSR checked with someone and said it wouldn’t be a signature card unless I applied for a new card so I did. I kept the original $2K card and got a second power cash rewards with a $39K limit but it will be a signature card. When I looked at the second approval the APR was 17.99. I guess because it’s a new card. The APR is kind of a drag but I can charge $2700 (which was the cost of my last doggie ICU stay) without going over 7.99% utilization which is great. I had to put the last bill on my Venture card.

Thank you that clears it up nicely.

 

Please accept my heart felt prayers for your furry friend!AAAfaveprayergif.gif

I get it- I'm an animal lover, my cat, who is 18 will be having surgery soon and it's expensive!

I also have ferrets (a lot of them) as I rescued 6 last winter. My Husky battled cancer for almost 2 years, she died 4 years ago, still feels like last week. 

I pray everything will go perfectly for your dog & you!  hugz&text.gif




Message 5537 of 5,587
Senior Contributor

Re: Pentagon Federal Credit Union Data Share

EQ 08 Fico: 812
Penfed Nextgen: Unknown
Instant or Review?: Review
POI?(If yes, what type of proof of income) No
AAOA: 7 years
Derogs?: None
Util: 4%
Total EQ Inquiries: 8 before the PenFed INQ
Last 12 months: 5
Last 6 months: 3
New Accounts in last 12 months: 4
Last 6 months: 2

I'm new to PenFed. It issued a PowerCash card with a 10K line -- less than most of my lines and lowish relative to income, but considering my two recently opened accounts (<3 months) and my lack of history with PenFed, I'm decidedly pleased.

2019 Goals: actually garden; save 3 months' net income; clear the BT cards
2020 Goal: Chase Freedom (Q2)

EQ8149 INQ (5 CC, 2 mort, phone, CU)
EX81210 INQ (6 CC, 2 HELoan, 2 mort)
TU8298 INQ (6 CC, 2 mort)
9/24 < 2% AAoA 6.25y | AoYA 1m | AoOA 20y
Take the myFICO Fitness Challenge [ Last INQ 5-Mar-2019 ]
Watching others garden.
Message 5538 of 5,587
Regular Contributor

Re: Pentagon Federal Credit Union Data Share

Auto approved for PenFed Power Cash Rewards, $10k at 17.99% cash back 2.0%.

 

I got greedy and submitted an app for the AMEX and a personal line for $10k.  I thought I was pushing my luck and called in to withdraw.  The Customer Service Reps are so nice he convinced me to let him talk to an Underwriter to see if he could get a decision for me.  The apps were denied for too many recent accounts opened (probably true, but not so different than many here).  I asked the rep if that would impact the Power Cash Rewards card and he assured me that it wouldn't as that was already approved and completed.  WRONG!

 

The underwriter overturned the auto approval for the same reasons as the other denials.  If I didn't get greedy and apply more I wouldn't be considering shutting down my relationship alltogether with PenFed.  I should listen to the underwriter's advice and go to the garden.  Now my wife is laughing at me for justifying opening an account because they have "great" service.

 

I'm not angry...I'm not happy either.  I'm so sorry NFCU, I should have never considered another CU!  What was I thinking?

 

Don't ask for trade line stats...It's painful to type it up.  FICO 8: EFX 686, EXP 693, TU 713.  21% Utilization, AAoA 1.8yrs, AoOA 13yrs, NO baddies, NO BK, $252k avail credit, 36 new accts past 30mos, 12 inquiries EFX, 15 inquiries TU, 10 Inquiries EXP. 6 figure income w/out spouse, W2. 

Message 5539 of 5,587
Community Leader
Valued Contributor

Re: Pentagon Federal Credit Union Data Share


@ehomeyjr wrote:

Auto approved for PenFed Power Cash Rewards, $10k at 17.99% cash back 2.0%.

 

I got greedy and submitted an app for the AMEX and a personal line for $10k.  I thought I was pushing my luck and called in to withdraw.  The Customer Service Reps are so nice he convinced me to let him talk to an Underwriter to see if he could get a decision for me.  The apps were denied for too many recent accounts opened (probably true, but not so different than many here).  I asked the rep if that would impact the Power Cash Rewards card and he assured me that it wouldn't as that was already approved and completed.  WRONG!

 

The underwriter overturned the auto approval for the same reasons as the other denials.  If I didn't get greedy and apply more I wouldn't be considering shutting down my relationship alltogether with PenFed.  I should listen to the underwriter's advice and go to the garden.  Now my wife is laughing at me for justifying opening an account because they have "great" service.

 

I'm not angry...I'm not happy either.  I'm so sorry NFCU, I should have never considered another CU!  What was I thinking?

 

Don't ask for trade line stats...It's painful to type it up.  FICO 8: EFX 686, EXP 693, TU 713.  21% Utilization, AAoA 1.8yrs, AoOA 13yrs, NO baddies, NO BK, $252k avail credit, 36 new accts past 30mos, 12 inquiries EFX, 15 inquiries TU, 10 Inquiries EXP. 6 figure income w/out spouse, W2. 


sorrysmiley.gif




Message 5540 of 5,587