way to know spending limit before applying for a card ?

[Anonymous]

Yes, take the offer.  It will grow.  Besides, you said you needed a $10k limit, which is what you got.  I'd probably then pick an AMEX to apply for, based on what your spend is like.  That will grow quickly as well, as mentioned above, with a likely 3x CLI after the initial 91 days.  

[BungalowMo]

---

@Anonymous wrote:

thanks for all the replies.  i decided to give PenFed a try with an online application.

i received an instant approval with a 10K spending limit.  

Expecting to see something higher, i opted out of the offer.

i spoke today with someone from member services who said that 10k is their 'starting point' with most new applicants and that a CLI would be considered after 6 months.

Does this sound accurate from others' experiences?

---

I'm gonna give you a little tough love here, so please take this in the spirit it's intended...

It is always a good idea to have a foot in the door with a great CU.  Their products & CS are amazing compared to any bank you'll ever owe money to.

It sounds like the only other credit you have is the one card with the $10k limit, as you haven't mentioned any other accounts.  That is a pretty thin file. 

When a CU like Pen Fed gives an offer like that, I wouldn't look my nose down on it like you were expecting more....  That's when you smile and say "Thank you, this will be the first day of a long, wonderful, expanding relationship".

In the future, they will give you wonderful mortgage rates, great personal loans, car loans, and many other products.

I love my Navy Federal & cherish the day they took me in!!

[Anonymous]

---

@Anonymous wrote:
Correct my only card is a capital one quicksilver at a 10k limit. I agree I need at least another card to add an additional credit line to hopefully kick my score to the 800's. So am I hearing folks suggest to take their 10k SL offer and then try for a CLI later ?

---

I would agree you should take the 10k Penfed card.   But for me I would go for a 3rd card just to add to your scoring potential, and that way if anything goes wrong with the other one or too you have better back up coverage.  That choice is up to you tho. 

[Anonymous]

Tough love is why I'm here. Appreciate the direction.

[BungalowMo]

---

@Anonymous wrote:
Tough love is why I'm here. Appreciate the direction.

---

I'm so glad you understood where I'm coming from.  I don't have Pen Fed, but several co-workers do.  They have had them for years & have a great history with them.

That place could be your best friend.  Treat them well, and congrats on your approval!

[Anonymous]

---

@BungalowMo wrote:

---

---

I'm gonna give you a little tough love here, so please take this in the spirit it's intended...

It is always a good idea to have a foot in the door with a great CU.  Their products & CS are amazing compared to any bank you'll ever owe money to.

It sounds like the only other credit you have is the one card with the $10k limit, as you haven't mentioned any other accounts.  That is a pretty thin file. 

When a CU like Pen Fed gives an offer like that, I wouldn't look my nose down on it like you were expecting more....  That's when you smile and say "Thank you, this will be the first day of a long, wonderful, expanding relationship".

In the future, they will give you wonderful mortgage rates, great personal loans, car loans, and many other products.

I love my Navy Federal & cherish the day they took me in!!

---

As a member of both navy federal and Penfed, I 1000% agree with these statements.   

[AverageJoesCredit]

Turning down a 10k card because its not what you were expecting, even though you did mention that very limit, is not wise. With the right profile, PF can grow. Your scores are great but sometimes not every high score tells ones whole story. If you are looking for only high limit cards, there are plenty of cards that fit the bill with some research. Adding a second 10k would go a long way in further establishing your profile.

[Anonymous]

Good information! Thanks.  Have I found the only 2 cards that will do the balance transfer free for the first 60 days and 15 months 0 interest?

[Anonymous]

I will use your recon advise if it comes to that.  Thanks!

[Anonymous]

Yes.  It seems like the process is backwards.  It needs maybe a Lending Tree effort where the banks come crawling to me....LOL