PenFed CLI yes or no? Update 4X CLI

Anonymous · ‎07-02-2018

So the new quarterly offers supposedly went out and I received none. The latest score they pulled was Equifax 9 @ 749. I am fairy new to PenFed. Opened my PCR Jan 1 with a SL of 2500 alongside 2 auto loans totaling 65k. Utilization 3%. Only 1 baddie from 6yrs ago for $250 that I paid in full from a leased apt I had. What do you think. Should I ask it’s been 6months.

Update: I decided to call in instead of doing it online. I remember reading here that some believe calling in decreases your chances of getting a HP and having them use your SP they just got on file. Not sure if it’s true ....... but worth a shot. No HP alert yet but penfeds HP post in a day or two in my experience.

Anyway, I got approved for a 4X credit increase to 10K. Not a monster limit like some of you on here, but not bad 10 months into a rebuild.

Anonymous · ‎07-02-2018

@Anonymous wrote:
@Anonymous the new quarterly offers supposedly went out and I received none. The latest score they pulled was Equifax 9 @ 749. I am fairy new to PenFed. Opened my PCR Jan 1 with a SL of 2500 alongside 2 auto loans totaling 65k. Utilization 3%. Only 1 baddie from 6yrs ago for $250 that I paid in full from a leased apt I had. What do you think. Should I ask it’s been 6months.

I'd say to go ahead; the worst they can do is say no, and if they do you might be able to get it through reconsideration. I applied for one yesterday and got turned down, but your overall data points are better than mine; I'm looking for a recon myself.

Anonymous · ‎07-02-2018

Hard to say with them as I'm in the same boat. Opened a signature card with them last September or so with a start limit of 5K and haven't been able to get a CLI depsite at 753 and 1% util with almost 200k in available credit (pyramiding in their eyes. Whatever). They've given me 60k in car loans though.. instant. I was contemplating trying again just to see since it's been 3 months since I last requested..

Anonymous · ‎07-02-2018

I opened my power cash rewards card in October 2017 with a cedit limit of 10K. Just got my quarterly offers and had my choice of any of their cards with a CL of 34.2K or a credit limit increase to my power cash card. I took the increase to 44.2K. My FICO 9 from Penfed was 767.

Anonymous · ‎07-02-2018

@Anonymous wrote:
I opened my power cash rewards card in October 2017 with a cedit limit of 10K. Just got my quarterly offers and had my choice of any of their cards with a CL of 34.2K or a credit limit increase to my power cash card. I took the increase to 44.2K. My FICO 9 from Penfed was 767.

You started with a $10,000 limit on your PCR,

and 9 months later it's now $44,200? Now that's

strong. 3x CLIs or better are commonplace for

Amex (Centurion Bank), but a 4x in less than a year

for a credit union as conservative as Pen Fed gives

the rest of us hope. Thanks for sharing!

Bizambish · ‎07-02-2018

I’m not sure where these elusive offers show up as I’m a new PenFed member, but I don’t think I got any either. Anyone share where to look?
Thanks!

Start: Low 500’s
Most Recent: 738-745
Over 180K CL Club
Focusing on Delta, Hilton, Amex MR, Alaska miles, Citi TYP, and Chase UR

Anonymous · ‎07-02-2018

@Bizambish wrote:
I’m not sure where these elusive offers show up as I’m a new PenFed member, but I don’t think I got any either. Anyone share where to look?
Thanks!

They would appear down in the lower right portion of your main account screen. There's usually a little box there with a TurboTax ad, which is the source of a lot of jokes made by PenFed members here, but if you have any offers, they'll appear in a separate box with the title "Your Offers". PenFed soft-pulls EQ FICO 9 at fairly frequent intervals - it used to be quarterly, but at least some people report it being done every couple of months or even monthly; for me, I saw my EQ pulled on May 8 and then again on June 12 - and their computers generate whatever offers you might receive every quarter (January, April, July, October) with the data in your report. If you cold-app for something, of course, your EQ will be hard-pulled, but then the HP can be used for any credit application you want to place with them for the next 90 days.

Anonymous · ‎07-02-2018

Approved for 4X increase to 10K. Waiting to see if it was a HP. But it probably is going to be.

Bizambish · ‎07-03-2018

Great info; thanks!

Start: Low 500’s
Most Recent: 738-745
Over 180K CL Club
Focusing on Delta, Hilton, Amex MR, Alaska miles, Citi TYP, and Chase UR

Anonymous · ‎07-03-2018

@Anonymous wrote:
@Anonymous the new quarterly offers supposedly went out and I received none. The latest score they pulled was Equifax 9 @ 749. I am fairy new to PenFed. Opened my PCR Jan 1 with a SL of 2500 alongside 2 auto loans totaling 65k. Utilization 3%. Only 1 baddie from 6yrs ago for $250 that I paid in full from a leased apt I had. What do you think. Should I ask it’s been 6months.

Update: I decided to call in instead of doing it online. I remember reading here that some believe calling in decreases your chances of getting a HP and having them use your SP they just got on file. Not sure if it’s true ....... but worth a shot. No HP alert yet but penfeds HP post in a day or two in my experience.

Anyway, I got approved for a 4X credit increase to 10K. Not a monster limit like some of you on here, but not bad 10 months into a rebuild.

Not bad at all. In fact, a 4x CLI in 10 months is fantastic!

Now wouldn't it be great if Pen Fed 4x'd you again to 40k

in 10 months or less??!!! Thanks for sharing your success!