Amex CLI + PenFed Gold

[krit]

Got an Amex BCE CLI from $11K to $15K and approval for a PenFed Gold, SL $12.5K. I already have a PenFed Power Cash Rewards with a CL of $10K. Should I keep both open or close the PCR?

DPs:

Total CL: $123K 

EQ: 739 (PDF from PenFed states EQ          score was actually 763.)

TU: 779

EX: 757 

Edit: Bought new wheels and tires in Oct. and opened a store card to get ~$200 discount. SL was $2K. Raised to $5K yesterday. 

[JoeRockhead]

Very nice CLI from AMEX, and SL from Penfed. Don't know why you'd want to close the PCR, doesn't it have a better rewards? I guess you'd have to ask yourself what the pros/cons are and what your usage is going to be having both cards. Congratulations on your CLI and approval!!

[coreyb80]

Congrats on the increase and the approval! I would definitely keep the PCR in addition to the Gold.  FYI, Penfed does use the same pull for 30 days if you wanted to try for the Pathfinder Rewards card with them as well.  I have the trifecta as well with them and love it.

[cashorcharge]

WooHoo!! Congratulations on your Approvals!!👏🏼🍾🥂

I would keep the PCR open with the Gold.  No point in closing it and since the allure of their Gold Card is "lower APR" you're still getting rewards from the PCR.  

[CreditAggie]

Congratulations on your CLI and approval!

[NoMoreDebt]

congrats on the increase and approval

[KingRue8500]

Congrats on your AMEX Blue Cash Everyday CLI & PenFed Gold approval

[krit]

Thanks, everyone. It's been a long journey. I see some people fix their credit in under a year, but each situation is different. In my case, I had medical CAs popping up everywhere. As soon as I got rid of one, there was another. The newest one has hit the 8-year mark though, so I'm starting to breathe easier. It took me 5.5 years to go from the 560s to the 760s. Sometimes I can't wrap my head around seeing those numbers on MY credit reports. 😊 Thanks greatly for all the support and advice.