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My PenFed Power Cash Approval!

Regular Contributor

Re: My PenFed Power Cash Approval!


@Wavester64 wrote:

CONGRATs!  Smiley Happy


Have any DPs you can share?  Smiley Wink

I'll post more specific data points on the PenFed Data Share thread later, but here's some descriptive info:


I joined PenFed on May 12th to take advantage of the current SUB on their checking account. I apped for the card on May 14th (after business hours), but got the 24 to 48 hour message. I logged into the system to check my app status and saw it was under review. Thinking it was going to be a denial, I called the customer service line the next day to see if I could talk to someone about it. I was told they were seeing a $12k limit on their computer, and they said I may hear about providing additional info if they needed it. 


Sure enough, about an hour later I received an email requesting I upload my 2 most recent paystubs, so I did so. I checked the app status system again and it showed I was conditionally approved. I then heard nothing after that, and assumed I would hear nothing over the weekend, so I called today to inquire. I was put on a brief hold, but before the rep came back I got the approval email! The rep returned a minute or so later and told me the good news!


I have yet to receive a HP on my EQ file for either the membership application or credit card application, but I expect they will eventually appear. Regardless my current EQ FICO 8 score is 784. I have no negatives on my report, and had 1 HP on EQ prior to my PenFed applications. This is the 3rd card I've opened in the last 12 months, and is the 2nd within the last 6 months.

My Cards & Limits:
American Express EveryDay: $11,000
Hilton Honors American Express: $10,000
TIAA Bank Rewards Visa Signature: $5,000
PenFed Power Cash Rewards Visa Signature: $12,000
Capital One Savor World Elite MasterCard: $10,000
Citi Double Cash MasterCard: $6,500
Chase Freedom Visa: $3,400
Message 11 of 14
Senior Contributor

Re: My PenFed Power Cash Approval!

Congratulations on your approval!

FICO 8 (Feb 2018):EX- 519, TU- 530, EQ- 545
FICO 8 (Mar 2020):EX- 689, TU- 665, EQ- 670
What's in my wallet:

On the chopping block:

Message 12 of 14
Regular Contributor

Re: My PenFed Power Cash Approval!

Congratulations on your approval!!

Message 13 of 14
Valued Contributor

Re: My PenFed Power Cash Approval!

Congrats! You should eventually be able to get a nice CLI on this card. Another poster got a 10 k CLI just recently!   

AX Hilton Aspire 20k, AX Bonvoy Brilliant 15k, AX BCP 2k, AX Blue Bus Cash 15k, AX Delta Air Platinum 49k, (AU) AX Delta Gold 15k, AX Amazon Prime Bus 25k, BC Uber 29k, AKUSA FCU -10k , CITI AAdvantage Exec World Elite MC 16.5k, Discover (2) 16k, Kohls-4k, VS Comenity $3k, BofA AK Air Siggy 9.8k, WF Propel AX 5k, JCP $10k PFCU Plat Rewards Siggy 39.5k, PFCU Power Cash Rewards AX 10.5k, NFCU Flagship 50k, CLOC 15k, CITI Costco 9.5k, GAP VISA Synchrony $9k,Target MC 9k, Ulta MC Comenity 9k, Pay Pal 1k, CO Venture One 23k, US Bank Radisson Rewards Signature 10k, US Bank Fred Meyers World MC, 11k, US Bank Plat VISA 15.7k, VS Comenity 2k, 240k total available credit. Utiliz-2%, Current FICO EQ-724, EX 763,TU 802 ,Chapt 7 BK D/C 11-2012. Starting scores 520-550
Message 14 of 14
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