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Approved for PenFed PCR, will it grow?

CashBackQueen
Frequent Contributor

Approved for PenFed PCR, will it grow?

Just became a PenFed member, got approved for a $5,000 Power Cash Rewards. Does this card grow? Or is it like NFCU where your 2nd card gets the bigger starting limit? PenFed stated my Equifax pull was a 705.

BK7 DC 1/2/18 • Progress as of 6/8/21:


TCL: $49,650 • UTIL: 1% • AZEO
Message 1 of 21
20 REPLIES 20
aptiger
Valued Contributor

Re: Approved for PenFed PCR, will it grow?


@CashBackQueen wrote:

Just became a PenFed member, got approved for a $5,000 Power Cash Rewards. Does this card grow? Or is it like NFCU where your 2nd card gets the bigger starting limit? PenFed stated my Equifax pull was a 705.


Congrats for the approval. It will grow. My PCR started with $17,500 after 6 months it was increased to $25,000. My second approval with them was for $12,500.


Filed chapter 7 in May 2017.

Message 2 of 21
AllZero
Super Contributor

Re: Approved for PenFed PCR, will it grow?

Congratulations on your approval!

 

Consumer initiated CLI request are EQ HP.

 

Depending on profile, if you are fortunate, PenFed periodically offer SP new cards or CLI.

Message 3 of 21
mgood
Frequent Contributor

Re: Approved for PenFed PCR, will it grow?

I know you can ask for CLI after six months.

What the success rate might be and how big those increases might be, I have no idea.

 

Curious to see what others have to say about this.


GOAL:

Starting Score: EQ8 680, TU8 713, EX8 701
Current Score: EQ8 776, TU8 792, EX8 743
Goal Score: EQ8 780, TU8 780, EX8 780


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Message 4 of 21
aptiger
Valued Contributor

Re: Approved for PenFed PCR, will it grow?


@AllZero wrote:

Congratulations on your approval!

 

Consumer initiated CLI request are EQ HP.

 

Depending on profile, if you are fortunate, PenFed periodically offer SP new cards or CLI.


I never got a HP for my request.


Filed chapter 7 in May 2017.

Message 5 of 21
AllZero
Super Contributor

Re: Approved for PenFed PCR, will it grow?


@aptiger wrote:

@AllZero wrote:

Congratulations on your approval!

 

Consumer initiated CLI request are EQ HP.

 

Depending on profile, if you are fortunate, PenFed periodically offer SP new cards or CLI.


I never got a HP for my request.


Nicely done. I do recall your original post. I think you dodged a bullet there.

Message 6 of 21
Rebuild2019
Established Contributor

Re: Approved for PenFed PCR, will it grow?

Congrats on your approval @CashBackQueen

CARDS: Discover It | QuickSilver One | Kohl’s | BB&T Spectrum Cash Rewards | BB&T Bright | NFCU CashRewards | NFCU More Rewards | AMEX BCE | Verizon Visa | Wells Fargo Platinum | Amazon Prime | OverStock
Starting Scores 05/2019: EQ:519, EX:525, TU:574
Message 7 of 21
Mad12345
Regular Contributor

Re: Approved for PenFed PCR, will it grow?

Congratulations

Message 8 of 21
Elpadrino1
Contributor

Re: Approved for PenFed PCR, will it grow?

Congratulations on your approval!!

Message 9 of 21
CreditAggie
Senior Contributor

Re: Approved for PenFed PCR, will it grow?

Congratulations on your PenFed approval!

Current Cards (in order of approval):


Current FICO 8 | 9:

Credit Age:

Inquiries (24 month):

Banks & CUs:

Goal Cards:



Currently: 2/6, 2/12, 5/24
Message 10 of 21
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