Was looking for a lower rate than the 25% most of my other cards carry. After I got some great advice on here i decided to apply for the PenFed Gold card. I opened up a savings account with them this morning and applied this afternoon. Instant approval 6K limit @ 17.99% 100SUB w 1500 Spend and 0% for 12 months. No POI required. I am very hopeful that over time the limit will rise and the APR will fall.
Congratulations
Starting Score: 513 Ex 520 Eq 534 Tu
@user979797 wrote:Was looking for a lower rate than the 25% most of my other cards carry. After I got some great advice on here i decided to apply for the PenFed Gold card. I opened up a savings account with them this morning and applied this afternoon. Instant approval 6K limit @ 17.99% 100SUB w 1500 Spend and 0% for 12 months. No POI required. I am very hopeful that over time the limit will rise and the APR will fall.
Grats
i finally got this card after like 3 or 4 attempts. Im sure it can grow, but i dont think its apr will ever lower. Thats my biggest gripe on this card how you give out a 17.99 apr on the lowest apr card is beyond me. And believe me most people get the higher end. Dont even know how one gets the 7% version lol. I think i got lucky with a 14.99 but my biggest excitement on the card is no CA fees
AverageJoesCredit: Grats to you as well for getting that approval finally! Glad you were able to get a lower rate than 17.99. With my 4yo discharged Ch7 I am just glad someone would give me one under 20% I believe I read on the myfico boards that if PenFed offers you a second gold card and you accept it it will be a SP credit limit increase on your first gold card instead; and that they will lower your rate if your score has improved. Do you think this is possible for us as well? Have you ever been offered a second gold card? I believe I read that they send offers out quarterly but that some members might not get them? Hopefully we can get our rates lowered that was one of the big appeals for me getting this card. Fingers crossed! And thankful to have a rate under 20% now.
I believe I read on the myfico boards that if PenFed offers you a second gold card and you accept it it will be a SP credit limit increase on your first gold card instead; and that they will lower your rate if your score has improved. Do you think this is possible for us as well? Have you ever been offered a second gold card? I believe I read that they send offers out quarterly but that some members might not get them? Hopefully we can get our rates lowered that was one of the big appeals for me getting this card. Fingers crossed! And thankful to have a rate under 20% now.