PenFed CLI

[Anonymous]

help me... i'm trying to find out how to work my way up with penfed

[FinStar]

@Anonymous Unfortunately, you're not providing the community with any information to go by in order to help you "work your way up".  We don't know how long you've been with PenFed nor what kind of limit, scores, etc., you have.

Typically, any customer-initiated CLI requests are processed via HP, unless you receive any pre-approved quarterly offers.

[Anonymous]

Thanks for the response.. been with penfed 6 months... had power cash card 4 months.. starting limit $3500.. my equifax 740.. 4 inquiries... i want to apply for CLI and a new card right now.. my goal is to get a big 25k card with them i have 3 of them with navy federal already. also do penfed merge cards together? 

[FinStar]

Unfortunately, they no longer merge or combine accounts.  Getting to $25K might take some time all things considered and profile-dependent.  Since your first card appears to have started a bit on the low end, I would give things time.

Potentially, you can ask for a CLI since your card is ~6 months (personally I'd wait longer), but that decision is up to you.  If you decide to apply for a separate card, that'll will be a separate HP.  So, you're looking at 2 HPs if you're wanting to pull the trigger.

[Anonymous]

Geesh All bad news..  Well i'm only taking 1 HP.. CLI or Pathfinder Card? which give me the better chance at big limit?

[Anonymous]

Call them and apply for a new card. Then while they process that go for a credit line increase on existing card and they should use that same credit pull. But if you do online it may result in 2 pulls.

[Anonymous]

They removed the CLI button on the app and online.. So maybe i do that vice versa. 

[FinStar]

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@Anonymous wrote:

Call them and apply for a new card. Then while they process that go for a credit line increase on existing card and they should use that same credit pull. But if you do online it may result in 2 pulls.

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Calling them can still result in 2 pulls - just FYI based on reported DPs.  As with anything, results will vary.

[DebtStinks]

Hell, with PenFed, you better prepare yourself for a hard pull for....well, any reason. LOL

[Anonymous]

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@FinStar wrote:

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@Anonymous wrote:

Call them and apply for a new card. Then while they process that go for a credit line increase on existing card and they should use that same credit pull. But if you do online it may result in 2 pulls.

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Calling them can still result in 2 pulls - just FYI based on reported DPs.  As with anything, results will vary.

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DPs? well i'll keep you guys posted.