I have the PCR CC which opened almost 2 years ago with an SL of $25K
I opened an auto loan with them a few months ago which is now at $32K
My HELOC with them is set to close next week for $42K
I want to see if the PCR is ever going to grow or if I should think about opening up a second card with them instead...
Is the PCR already at the max for a single card? if so, would recon help?
What is the total max exposure and does HELOC and/or Auto loans factor into it since they are backed by recoverable assets?
DPs
PenFed is showing Fico9 at 819
UTI is < 1%
DTI about 9%
total available Credit after heloc about $250K
Income $175K
Only Kinda Negative is AAoA 2yr 9mo
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@raisemysc0re wrote:I have the PCR CC which opened almost 2 years ago with an SL of $25K
I opened an auto loan with them a few months ago which is now at $32K
My HELOC with them is set to close next week for $42K
I want to see if the PCR is ever going to grow or if I should think about opening up a second card with them instead...
Is the PCR already at the max for a single card? if so, would recon help?
What is the total max exposure and does HELOC and/or Auto loans factor into it since they are backed by recoverable assets?
DPs
PenFed is showing Fico9 at 819
UTI is < 1%
DTI about 9%
total available Credit after heloc about $250K
Income $175K
Only Kinda Negative is AAoA 2yr 9mo
I believe the limits are just for unsecured credit, not for secured credit like auto loans, mortgages, and HELOC's.
I have been told that PenFed's present limits for unsecured credit are
50k total
25k per card
So yes, if that's true, you're already at the maximum on your Power Cash Rewards card.
@cashorcharge wrote:You may want to apply for the Pathfinder @raisemysc0re . That is likely your next best bet to pick up anotehr $25K unsecured CC
I'm not sure that card fits my spending habits. I almost never travel and do not like cards that charge an AF.
The only one I have now is the Amex BCP and that is for the 6% groceries which more than pays for itself.
After looking azt their card offers more closely I think the PCR is the only card from them that I need.
Maybe I'll just get a 2nd NFCU card instead.
Advice given so far about PenFed exposure was accurate, @raisemysc0re.
There is another card which might interest you. The Platinum Rewards card has no AF and earns 5x points on gas/EV, 3x points on supermarkets (including most Target and Walmarts), Restaurants, and Cable TV-streaming services, and 1x points everywhere else. It's a nice companion to the Power Cash Rewards. Points are worth 0.85 ccp so the return is not a full 5% and 3%; it's more like 4.25% on gas and 2.55% on those others categories. Still, higher earnings than a 2% card and a nice supplement if exceeding the $6K annual cap on BCP when your Discover doesn't include groceries. And it would outearn the BCP's 3% on gas when you're not getting 5% on Discover.
@FinStar wrote@Katrina1103wrote: I currently have a $30k and $25k cc with them so $50k isn't the max exposure. Neither of mine were offers but just applying
@Katrina1103 - It's likely you weren't subject to the overall cap or restrictions depending on when you opened your accounts. What year(s) did you open the $30K and $25K? Plus, even if you're slightly above the known exposure, it's unlikely you'd be approved for any additional cards.
I was thinking the same about the time-frame. Plus, there are sometimes outliers that break the mold, even with lenders like PenFed or Navy FCU which appear to have set-in-stone guidelines which are accurate for 99% of our members. I think I've seen a few others break the $80K NFCU limit as well, but possibly with long membership, enough active deposit or loan activity, large direct deposits or large savings balances. Do any of these apply, @Katrina1103? The data points would be helpful. Thanks!