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Holy Smokes Penfed!! Should I apply for another with he same HP?

Spock2017
New Contributor

Holy Smokes Penfed!! Should I apply for another with he same HP?

I apped PENFED Power Cash Rewards with a SL of $15,000....my largest SL ever!!

 

I've been wanting a major CU card such as NFCU but I have no military affiliation.  So I wandered onto the PENFED website to see what I could find.  I signed up for an account with a $17 donation and a $5 deposit.  Moments later I applied for the Power Cash card and I was instantly approved!!

 

Very nice

 

Can I go ahead and apply for another of their cards under the same HP?

Cap 1 Venture (14k) ~ Fifth Third Truly Simple (12k) ~ Fifth Third Simple #2 (10k) ~ Fifth Third Trio (10k) ~ AMEX ED (10k) ~ Huntington Voice 3x Reward (10k) ~ Huntington Voice APR (10k) ~ Discover IT (7.5k) ~ PENFED Power Cash (10k) ~ PENFED Platinum Reward (10k) ~ Gardner White Comenity (6.8k) ~ Chase Freedom (6k) ~ Wells Fargo Plat (5k) ~ Amazon (5k) ~ Sams Club (5k) ~ Alliant (5k) ~ Kohls (3k) ~ Marvel (3k) ~ DICKS (2.2k) ~ Flagstar (2k) ~Cap 1 Plat (1.6k) ~ CITI Simpl (1k) ~ AMEX BCE (1k) ~~ TCL $157,000
F8 EX 600 (3/17)
F8: EQ 745, TU 754, EX 741 (8/17)
~~ UTIL 2% INQ 8 (12 mo)
Message 1 of 22
21 REPLIES 21
credit_endurance
Valued Contributor

Re: Holy Smokes Penfed!! Should I apply for another with he same HP?

Congratulations on a nice SL with Penfed out of the gate. You absolutely can apply for another product which should result in the same hp but Ymmv as of late on this with some members have reported being pulled again for another product. Just to be safe I would app for another product today if you where approved today for the PCR.

 

What are some data points?  Inquiries, New Accounts, Fico 9 score etc?

Starting FICO08 Scores 2016 All in the mid 500’s
Current FICO08 Scores Jan 2021 (TU 776) (EQ 773) (EXP 760)
$700k+ Tradelines in progress
Gardening Reset: February 2022
“The credit is no longer bruised, it has endured the test of time” (formally know as bruisedcredit)
Message 2 of 22
Spock2017
New Contributor

Re: Holy Smokes Penfed!! Should I apply for another with he same HP?

Looking at FICO9 as of today:    EQ 721  TU 737  EXP 728  (although on MYFICO these scores are 2 weeks old)

F8  EQ 732  TU 745  EXP 735 (dated a few days ago)

 

I am up to date on Experian:  7 inquiries over 12 months.  4% util....income $75k

Cap 1 Venture (14k) ~ Fifth Third Truly Simple (12k) ~ Fifth Third Simple #2 (10k) ~ Fifth Third Trio (10k) ~ AMEX ED (10k) ~ Huntington Voice 3x Reward (10k) ~ Huntington Voice APR (10k) ~ Discover IT (7.5k) ~ PENFED Power Cash (10k) ~ PENFED Platinum Reward (10k) ~ Gardner White Comenity (6.8k) ~ Chase Freedom (6k) ~ Wells Fargo Plat (5k) ~ Amazon (5k) ~ Sams Club (5k) ~ Alliant (5k) ~ Kohls (3k) ~ Marvel (3k) ~ DICKS (2.2k) ~ Flagstar (2k) ~Cap 1 Plat (1.6k) ~ CITI Simpl (1k) ~ AMEX BCE (1k) ~~ TCL $157,000
F8 EX 600 (3/17)
F8: EQ 745, TU 754, EX 741 (8/17)
~~ UTIL 2% INQ 8 (12 mo)
Message 3 of 22
Spock2017
New Contributor

Re: Holy Smokes Penfed!! Should I apply for another with he same HP?

Oops...applied Platinum Rewards VISA Signature.  Said my app has been referred to a loan officer....your application is under review

Cap 1 Venture (14k) ~ Fifth Third Truly Simple (12k) ~ Fifth Third Simple #2 (10k) ~ Fifth Third Trio (10k) ~ AMEX ED (10k) ~ Huntington Voice 3x Reward (10k) ~ Huntington Voice APR (10k) ~ Discover IT (7.5k) ~ PENFED Power Cash (10k) ~ PENFED Platinum Reward (10k) ~ Gardner White Comenity (6.8k) ~ Chase Freedom (6k) ~ Wells Fargo Plat (5k) ~ Amazon (5k) ~ Sams Club (5k) ~ Alliant (5k) ~ Kohls (3k) ~ Marvel (3k) ~ DICKS (2.2k) ~ Flagstar (2k) ~Cap 1 Plat (1.6k) ~ CITI Simpl (1k) ~ AMEX BCE (1k) ~~ TCL $157,000
F8 EX 600 (3/17)
F8: EQ 745, TU 754, EX 741 (8/17)
~~ UTIL 2% INQ 8 (12 mo)
Message 4 of 22
credit_endurance
Valued Contributor

Re: Holy Smokes Penfed!! Should I apply for another with he same HP?


@Spock2017 wrote:

Oops...applied Platinum Rewards VISA Signature.  Said my app has been referred to a loan officer....your application is under review


This is typical of Penfed actually. There is usually very few instant approvals with them these days. I think the Platinum is a minimum $5k SL .You should find out something very soon. Good luck! 

Starting FICO08 Scores 2016 All in the mid 500’s
Current FICO08 Scores Jan 2021 (TU 776) (EQ 773) (EXP 760)
$700k+ Tradelines in progress
Gardening Reset: February 2022
“The credit is no longer bruised, it has endured the test of time” (formally know as bruisedcredit)
Message 5 of 22
c00mtg
Valued Contributor

Re: Holy Smokes Penfed!! Should I apply for another with he same HP?

Their recon department is very good...should you get denied.

 

Good luck, i hope you get it!




FICO 8 Scores EQ 704 / Goal 750, EX 706 / Goal 750, TU 724 / Goal 750

FICO 9 Scores EQ 726 / Goal 750, EX 683 / Goal 750, TU 726 / Goal 750
Message 6 of 22
AverageJoesCredit
Mega Contributor

Re: Holy Smokes Penfed!! Should I apply for another with he same HP?

You csn get get a Platinum with $500 sl , i did lolSmiley Wink.

Congrats OP on your PC from PF Smiley Happy
Message 7 of 22
K-in-Boston
Moderator

Re: Holy Smokes Penfed!! Should I apply for another with he same HP?

Everything I have ever done with PenFed or Navy has gone pending. No need to worry! You can check the status on their app, also.
Message 8 of 22
fltireguy
Valued Contributor

Re: Holy Smokes Penfed!! Should I apply for another with he same HP?

Your worst case scenarios probably is..

 

Theyll tell you that right now, the max amount of credit they feel like extending is $15k. 

 And, that in 6 months, to talk to them about CLI. they'll offer to split the $15k between the 2 cards however way you want to

 

then you'll recon. And get at least another $5k total CL out of them...lol

NFCU $60.4k/PenFed $22.5k/Commerce $15K/53 $11K/Synovus $14K/BBT $11K/CapOne $12K/DCU $7.5K/BMO $7.5K/Chase $14.5k/Cabelas $10K/ and many many more!
Total CL $398600, plus car and RV loan.
Ooh. Ooh. Getting closer to that $500K mark!
Message 9 of 22
Total80sKid
Valued Contributor

Re: Holy Smokes Penfed!! Should I apply for another with he same HP?

Fantastic SL! Congrats!!

I love PenFed Smiley Happy
Message 10 of 22
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