****4th PenFed Card Gold $10K Approved!!

[alextercero]

Congrats on the approval

[Catbird_Seat]

@CreditMagic7 

That's awesome, congrats & give me hope that eventually they're going to come through again for me! 

I've been trying for the Gold for about 9 months & it's always a no-go, almost had it earlier this month after going to review, but alas they turned me down again.

[CreditMagic7]

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@Catbird_Seat wrote:

@CreditMagic7 

That's awesome, congrats & give me hope that eventually they're going to come through again for me! 

I've been trying for the Gold for about 9 months & it's always a no-go, almost had it earlier this month after going to review, but alas they turned me down again.

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They seem to have a time limit on when it you stand a better chance. Did you use their Preapproval Page?

That came through on this approval, the others were all cold apps. Best of Luck!

[FireMedic1]

Congrats @CreditMagic7 . On a roll lately.

[JoeRockhead]

Very nice, congratulations!!

[NoMoreDebt]

Congrats on the approval

[mgood]

Congrats!

Why did you want the Gold? Padding?

I don't think I knew they had a pre-approval page until reading this thread. I went to see if I'd be pre-approved for the Pathfinder. It came back saying my reports are frozen. I know that. Looks like they'd be able to get the SP info they need without me unfreezing reports. Not sure I would take it if pre-approved. I'm holding out for the day PenFed figures out how to PC credit cards so I can PC my Gold to a Pathfinder.

[CreditMagic7]

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@mgood wrote:

Congrats!

Why did you want the Gold? Padding?

I don't think I knew they had a pre-approval page until reading this thread. I went to see if I'd be pre-approved for the Pathfinder. It came back saying my reports are frozen. I know that. Looks like they'd be able to get the SP info they need without me unfreezing reports. Not sure I would take it if pre-approved. I'm holding out for the day PenFed figures out how to PC credit cards so I can PC my Gold to a Pathfinder.

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I been at 2% Utility for a couple of years now. Comenity closed out their cc deals with Overstock & Appliance Connection so that cause me to shuttle away almost $20K. No biggie so the choice for the GOLD CARD again wasn't padding. It was to stand a better chance of an Approval this time. Which actually turned out to my favor. The new GOLD CARD approval with a 17.99% APR (0% first 12-15 months), will fill in as i close out a higher APR card. There are (2) that are on that list actually. Their current lines won't affect my persistent 2% Utility.

[LADave]

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@nytokyobred79 wrote:

Congrats on your 4th PenFed card. A 5 in the works? I'm not a PenFed expert so no idea if there's a 5th to be had 😉

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They have "only" four cards, which is high for a credit union. Although none could be considered best in class, they're still competitive and each covers at least one popular category:

-Gold for easy approvals and balance transfers

-Power Cash Rewards for basic cash rewards

-Platinum Rewards for a fee-free rewards card with enhanced earnings on gas, groceries and other categories

-Pathfinder for travel benefits.

Edit: All of their cards also have at least a12-month 0% APR period for balance transfers, and very low APRs (I believe their maximum APR for credit cards is currently 17.99%).

[LADave]

Congratulations @CreditMagic7! Once again you live up to your name. 😉 That's a very nice SL!