@Anonymous wrote:
Could you please answer on these questions-
(1) How long did you have your Penfed account opened before you asked for a CLI? I think you said that it was opened in 2019 but could you be specific, plz?
(2) Was it your first CLI request or you did request before as well?
(3) You also stated that you have a checking and saving accounts with Penfed, but were those accounts have had activities when CLI request was approved or you just have had those accounts but did not use them at all or no activity were done?
(4) Can you please show where and how we can request for a CLI?
I have Rewards credit card with them with $20k only for 3 months..I did heavily use it to get SUB ($100 on spending $1500 in 3 months). I just got my statement balance credit of $100...do you think I should wait 3 more wait ...total of 6 months...before asking for CLI? Also, should I open checking account too with them? As of now I have only saving account with them with only $5 and no activity...Should I show some activities on Saving and Checking accounts as well to increase my chances to have CLI?
@Anonymous
1.) I opened a checking and savings bank accounts with Penfed Sept 2019. I saw a preapproval for all 3 cards in April 2020 for 5k and I chose Penfed Power Cash Rewards. I asked in November 2020 for an increase and they gave me 20k and it was hard pull on Equifax.
2.) Yes it was my first time asking them for a credit line increase
3.) Yes all those accounts have activity going on with them. I push money from my other banks to them.
4.) You have to call and ask for CLI unless you see under offers for a preapproval for credit cards.
I am still new to Penfed so I dont know if me putting money in my checking and savings caused my credit line increase. I dont have them as direct deposit. I push money from other accounts. I pay in full on my credit card. I always only ask for credit limit increases on all my new cards no matter who the lender is after 6 months. Thats my own golden rule. It always worked except with Apple. Capital one gave me 100 and now later on...nothing.
