Just got approved for Penfed Platinum Rewards Visa Signature.
I had joined Penfed earlier in the year when everyone was applying and getting accepted (Around April) but never applied for a credit card. Just deposit 10 dollars, and never entered again. Yesterday I received an email saying I was pre-approved. I thought, no way. My bk is still new, not even two years yet, but it intrigued me enough to login and check the offer out. It displayed my interest rate which is 17.99% and I decided to go for it. Applied and when it was going to give me the decision, the website crashed. Thankfully an email arrived shortly and said “CONGRATULATIONS, YOU HAVE BEEN APPROVED” – 5000$ SL. Not a bad SL especially for where I’m at. Becomes my second highest card. Bk still fairly new. EQ score for some reason is my lowest even though I only have 1 inquiry on it at 659.
Some data points before I applied. 1st inquiry in the last 11 months on my EQ report. 2 in the last 12.
Only new accounts in the last 12 months is Capital One Oct 2020, and Apple which was this same week.
2 accounts last 12 months, 1 in the last 6 months.
Questions to those who have Penfed, how does it grow? I run a business and use my cards heavily. I believe that’s the reason capital one has almost 6x my SL in the last 11 months. Just got an apple card and have read they like heavy usage, since the SL on it is 1000$ I could run it multiple times a month. Is there any benefit in doing the same with Penfed? If not, I’ll keep using Capital One a lot and hopefully it keeps growing. Also, is there any card I should keep an eye on that grows a lot with heavy usage? I know discover is one of them but they still won’t let me in, and since my business is heavily reliant on buying a lot of products, cards that give cli based on usage and income are extremely beneficial to me.
Congrats on the PenFed Signature Visa approval !! 
Grats on your Penfed approval 
Congrats on your PenFed Platinum Rewards approval
