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4th PenFed card approved!

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New Visitor

4th PenFed card approved!

I thought I’d provide a data point. I was always under the impression PenFed would only allow 3 cards max. Did a little fishing (or what I call drunk apping) and I was shocked to get approved for the PenFed Gold with a $10,000 limit. I have an Amex Pathfinder at $5,000, Amex Travel Rewards at $10,000 and a Platinum rewards at $12,000. I also have a personal loan with them I was just approved for. PenFed is hot for my file I guess!
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Regular Contributor

Re: 4th PenFed card approved!

congratulations on your approval and your success with pen fed. btw you mind share some of the data points such your credit score, utilization, your income to debt ratio, which Bureau they pull. since I'm a veteran i want to joind pen fed to see what they all about





NFCU Flagship Rewards: $21000
NFCU Cash Rewards: $26000
Discover It: $2000
NFCU Auto Loan: $10800
NFCU line of credit: $500
Total TLs: $49500
Message 2 of 17
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Senior Contributor

Re: 4th PenFed card approved!

Congrats on your another PenFed approval! They really love you! Smiley Very Happy

Currently: Gardening since 04/2020




Message 3 of 17
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Mega Contributor

Re: 4th PenFed card approved!

 

Congrats!

 

Message 4 of 17
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Super Contributor

Re: 4th PenFed card approved!

Congratulations on your approval and the data points!

I wasn't sure myself what was with allowable CCs. I think I've only seen 3 as posted on member's signature.
Message 5 of 17
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Valued Contributor

Re: 4th PenFed card approved!

Aaaaah! Nothing beats drunk apping!
Congrats on your 4th PF!
BK7 dc in 01/2011 with FICO8 in the 500s

HPs EX 5 EQ 3 TU 1
AAoA 5y4m
UTIL 1% - 3%

$200K+ Total Limits







New cc TLs 0/6 ; 1/12 & 3/24
Message 6 of 17
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Valued Contributor

Re: 4th PenFed card approved!

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Message 7 of 17
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Community Leader
Super Contributor

Re: 4th PenFed card approved!


@Dave4585 wrote:
I thought I’d provide a data point. I was always under the impression PenFed would only allow 3 cards max. Did a little fishing (or what I call drunk apping) and I was shocked to get approved for the PenFed Gold with a $10,000 limit. I have an Amex Pathfinder at $5,000, Amex Travel Rewards at $10,000 and a Platinum rewards at $12,000. I also have a personal loan with them I was just approved for. PenFed is hot for my file I guess!

@Dave4585  Congrats, that is awesome.   They do love your profile for sure. 

 

In the past 2 years, i've never heard of a limit on how many PF cards you can have, but i have heard many times that your overall exposure is limited to 50k with them. 

 

Navy has a 3 card limit.  They don't limit the exposure to 50k. 








Message 8 of 17
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Community Leader
Super Contributor

Re: 4th PenFed card approved!


@gjean78 wrote:
congratulations on your approval and your success with pen fed. btw you mind share some of the data points such your credit score, utilization, your income to debt ratio, which Bureau they pull. since I'm a veteran i want to joind pen fed to see what they all about

@gjean78 

I can tell you from my EXP PF is great for lower rates on loans usually, but they are a bit more conservative (cpmpared to Navy) unless you have a clean file or high income.  I've had the same 3k limit for over a year now on a 2yr old card that started at 2.5k.  I also have a large car loan and personal loan too, so that might be part of it. Smiley Happy








Message 9 of 17
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Valued Contributor

Re: 4th PenFed card approved!


@Dave4585 wrote:
I thought I’d provide a data point. I was always under the impression PenFed would only allow 3 cards max. Did a little fishing (or what I call drunk apping) and I was shocked to get approved for the PenFed Gold with a $10,000 limit. I have an Amex Pathfinder at $5,000, Amex Travel Rewards at $10,000 and a Platinum rewards at $12,000. I also have a personal loan with them I was just approved for. PenFed is hot for my file I guess!

Congrats @Dave4585 and welcome to My Fico forums!

 

That's a nice collection of PenFed cards! Enjoy! Smiley Happy



Updated 05/18/2020
Total Length of Credit = 35+ years; AoOA (Currently open accounts) = 26+ years;
AAoA = 8+ years; AoYA = less than 1 year (April 2020)
Total Open Credit Lines Over $492K. Utilization Less Than 1%. Inquiries until Nov 2020 (TU:2 -- EQ:4 -- EX:6)
*Hover cursor over each card to see name & CL, or press & hold on mobile app.
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