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PenFed Offers and Massive SP CLI

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rbentley
Established Contributor

PenFed Offers and Massive SP CLI

I joined PenFed in April, 2018 and got a Power Cash Rewards card.  SL $8,500, which was my highest limit at the time. 16.99 APR I have only received offers from them for the highly valued Turbo Tax.  This is my 7th month and for the first time I saw offers of CLI, new cards or loans.  They offerered me a CLI of $21,900 which would bring my total CL to $30,400.  The offer stated that my interest rate would not change.  The online form requires me to authorize a credit report, which I thought would be a HP. 

 

I called PenFed and they looked at my account and assured me there would only be a SP.  I read them the HP language and asked them to verify that it would only be a SP.  (I am in the garden). 2 minutes later the CSR came back and said it will definately be a SP but there is no guarantee of the $21,900, as that is only the max offer.  I went ahead and submitted and boom granted for total CL of $30,400 and a reduced APR of 11.99%  Woohoo!!!!  Please dont tell AJC about this.  I dont think his blood pressure could withstand it.

 

As for data points.  PenFeds last FICO9 score for me was early Oct at 747.  My FICO 8 just went up 16 points.  I am non-military.

 

Check your account for offers.  It sure worked for me.  Couldn't be more excited.  My goal for next year was to get this account to $20,000.  Mission accomplished.

 

*Attn Mods:  Please feel free to move or combine this post into the PenFed Data Share if it more properly belongs there.  I started a new thread because I was posting about PenFed offers.*

Message 1 of 14
13 REPLIES 13
JoeLuvsHisCredit
Valued Contributor

Re: PenFed Offers and Massive SP CLI


@rbentley wrote:

I joined PenFed in April, 2018 and got a Power Cash Rewards card.  SL $8,500, which was my highest limit at the time. 16.99 APR I have only received offers from them for the highly valued Turbo Tax.  This is my 7th month and for the first time I saw offers of CLI, new cards or loans.  They offerered me a CLI of $21,900 which would bring my total CL to $30,400.  The offer stated that my interest rate would not change.  The online form requires me to authorize a credit report, which I thought would be a HP. 

 

I called PenFed and they looked at my account and assured me there would only be a SP.  I read them the HP language and asked them to verify that it would only be a SP.  (I am in the garden). 2 minutes later the CSR came back and said it will definately be a SP but there is no guarantee of the $21,900, as that is only the max offer.  I went ahead and submitted and boom granted for total CL of $30,400 and a reduced APR of 11.99%  Woohoo!!!!  Please dont tell AJC about this.  I dont think his blood pressure could withstand it.

 

As for data points.  PenFeds last FICO9 score for me was early Oct at 747.  My FICO 8 just went up 16 points.  I am non-military.

 

Check your account for offers.  It sure worked for me.  Couldn't be more excited.  My goal for next year was to get this account to $20,000.  Mission accomplished.

 

*Attn Mods:  Please feel free to move or combine this post into the PenFed Data Share if it more properly belongs there.  I started a new thread because I was posting about PenFed offers.*


Congrats on the CLI I hate to tell you that PENFED does NOT reduce APRS. I know this because on my SP offers. I had a offer for a cli or a new card with lower APR. I thought if i chose the cli i would get the lower apr. But after i got the cli i called and was told they don't lower APRS and they said if i picked the new card it would have been that lower apr. I WAS MADDDDDDDD LOL  He's talking about you buddy lol

Message 2 of 14
Anonymous
Not applicable

Re: PenFed Offers and Massive SP CLI


@rbentley wrote:

 As for data points.  PenFeds last FICO9 score for me was early Oct at 747 ...

 


@Anonymous way of contrast: today I was denied a HP CLI request w/ 757 Fico 09. Opened card mid July 2018 @ 2k and there it will remain for the forseeable future. No intent to be a downer, rb -- just offering more intel to your valuable DPs. It's always YMMV in the credit world.

 

And Congrats! to you for a truly stunning CLI. 

 

Message 3 of 14
Meanmchine
Super Contributor

Re: PenFed Offers and Massive SP CLI

<This spot reserved for AJC's reply>

 

 

 

Congrats OP

>3/2016 EX 644 CK-TU 642 CK-EQ 660 WalMart- 671.
>5/2023 All 3 reports 840ish (F8) F9s = 850 but my app finger is still twitching
Message 4 of 14
AverageJoesCredit
Legendary Contributor

Re: PenFed Offers and Massive SP CLI

AGHHHHHHHHHHHHHHH!


LOL, silly Penfed TRIX are for kidsSmiley Wink


Way to go RBentleySmiley Happy Thats a superb offer. Dont sweat it Joe, lol, i may not like PF, but am happy to see my Fico family get theirsSmiley Happy JamesA welcome to the other side.

I always say, once you get offers you know you are golden with them. Enjoy your success RSmiley Happy ill just have a Kit Kat for my pressureSmiley Wink
Message 5 of 14
Anonymous
Not applicable

Re: PenFed Offers and Massive SP CLI

Congratulations
Message 6 of 14
stephenskd
New Contributor

Re: PenFed Offers and Massive SP CLI

congrats!


Message 7 of 14
Anonymous
Not applicable

Re: PenFed Offers and Massive SP CLI

Congrats. That's an awesome CLI. Penfed will definitely be one of my next cards.
Message 8 of 14
Anonymous
Not applicable

Re: PenFed Offers and Massive SP CLI


@rbentley wrote:

I joined PenFed in April, 2018 and got a Power Cash Rewards card.  SL $8,500, which was my highest limit at the time. 16.99 APR I have only received offers from them for the highly valued Turbo Tax.  This is my 7th month and for the first time I saw offers of CLI, new cards or loans.  They offerered me a CLI of $21,900 which would bring my total CL to $30,400.  The offer stated that my interest rate would not change.  The online form requires me to authorize a credit report, which I thought would be a HP. 

 

I called PenFed and they looked at my account and assured me there would only be a SP.  I read them the HP language and asked them to verify that it would only be a SP.  (I am in the garden). 2 minutes later the CSR came back and said it will definately be a SP but there is no guarantee of the $21,900, as that is only the max offer.  I went ahead and submitted and boom granted for total CL of $30,400 and a reduced APR of 11.99%  Woohoo!!!!  Please dont tell AJC about this.  I dont think his blood pressure could withstand it.

 

As for data points.  PenFeds last FICO9 score for me was early Oct at 747.  My FICO 8 just went up 16 points.  I am non-military.

 

Check your account for offers.  It sure worked for me.  Couldn't be more excited.  My goal for next year was to get this account to $20,000.  Mission accomplished.

 

*Attn Mods:  Please feel free to move or combine this post into the PenFed Data Share if it more properly belongs there.  I started a new thread because I was posting about PenFed offers.*


Congrats. that is awesome CL.   I got a CLI for 500  LOL   but they did lower the APR to 11.49 on my PCR. 

Message 9 of 14
chaos51
Regular Contributor

Re: PenFed Offers and Massive SP CLI

Woo! This is my first time having PenFed offers, and I've been with them for about 1.5 years. I have a PCR with a $20,000 limit. I don't want a second card, so do I just call them to do the CLI? I would 100% like to make sure that it is also a SP. Nonetheless, here are my offers.

 

Screen Shot 2018-11-03 at 11.12.05 PM.png

Total Revolving Credit Limit: $306,900
Pay Over Time Limit: $85,000
Fico 8 Scores: Ex: 751, TU 751, EQ 741
Message 10 of 14
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.