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Why Is PenFed Tempting Me?

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baller4life
Super Contributor

Re: Why Is PenFed Tempting Me?

Oh wow with those scores you would clean up at Penfed! IJS. You could app a card and THEN garden for a year. Smiley Wink
Message 11 of 32
Anonymous
Not applicable

Re: Why Is PenFed Tempting Me?

I applied last night. Instant approval for $50k credit limit. 689 credit score with 21 inquiries. Yay...I can't believe it either. 

Message 12 of 32
Anonymous
Not applicable

Re: Why Is PenFed Tempting Me?

They're tempting you because it's a credit union and your username literally say CreditUnionFan
Message 13 of 32
Anonymous
Not applicable

Re: Why Is PenFed Tempting Me?

But, realistically, if you don't need it (which you stated you don't) then $100 isn't worth a new account and HP IMO
Message 14 of 32
CreditUnionFan
Valued Contributor

Re: Why Is PenFed Tempting Me?


@Anonymous wrote:
But, realistically, if you don't need it (which you stated you don't) then $100 isn't worth a new account and HP IMO

That's the dilemna. The card earns 5% in points for pay at the pump, and 3% for supermarkets, but a point isn't worth 1 cent. The Sams MC earns 5% on gasoline, and their 5% is worth 1:1. The Suntrust MC and BoA Cash Rewards earn 2%, and savings/checking account customers end up with 2.2%, basically the same.

 

The appeal is mainly that if I take a HP they will perhaps offer me other products down the road, like the mortgage refinance, the next auto loan, etc. as I build a "relationship" with them. I've had other lenders extend credit, but I am a fan of credit unions. Smiley Happy 

I was going to garden... Honest!
Message 15 of 32
Anonymous
Not applicable

Re: Why Is PenFed Tempting Me?

I don't think taking one product will make you any more marketable to more products like mortgages. You either qualify or you don't in most cases.
Message 16 of 32
Anonymous
Not applicable

Re: Why Is PenFed Tempting Me?


davis968 wrote:

 

I applied last night. Instant approval for $50k credit limit.  689 credit score with 21 inquiries. Yay...I can't believe it either. 



First Congratz!


Second, great info & recommend you consider posting on baller4life's:

"Pentagon Federal Credit Union Data Share" in the Credit Card Approvals section.


You would be an immediate Rock Star over there!

Message 17 of 32
mitchblue
Valued Contributor

Re: Why Is PenFed Tempting Me?

Can't say enough great things about Penfed. They've been great for me. When I got a car loan from them last year, 2.24% - a month later I got my SUV and their rate was 1.99% and witchout even asking they gave that to me. 

FICO® 8 Scores 821 FICO® 9 Equifax 826 (Updated 02-7-23)
Message 18 of 32
Anonymous
Not applicable

Re: Why Is PenFed Tempting Me?


@Anonymous wrote:

PenFed sucks. You should shred the mailer.


This is unacceptable behaviorSmiley Very Happy. I choked on my Gatorade reading this post. Great laugh. Def did not expect to read those words. lol

Message 19 of 32
Anonymous
Not applicable

Re: Why Is PenFed Tempting Me?


@Anonymous wrote:

I applied last night. Instant approval for $50k credit limit. 689 credit score with 21 inquiries. Yay...I can't believe it either. 


Well, that is amazing! Congratulations!

Message 20 of 32
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