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PenFed Offers and Massive SP CLI

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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
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
Valued Contributor

Re: PenFed Offers and Massive SP CLI


@rbentley wrote:

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

 


@By 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. 

 

Starting Score: (5/24/2018) -- FICO 08 EXP: 643; FICO 08 TU: 642; FICO 08 EQ: 677
Current Score (01/18/2020): FICO 08 EXP: 744; TU: 748; EQ: 748
2019 Goal Score: 800 across the board


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Message 3 of 14
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.
>01/2020 CCT EX 832 TU 848 EQ 842
It's just a jump to the left
And then a step to the right
Put your hands on your hips
You bring your knees in tight
But it's the pelvic thrust that really drives you insane
Let's do the Time Warp again!
Let's do the Time Warp again!

Message 4 of 14
Community Leader
Mega 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
#ChaseCreditCardHobby Enthusiast
2022
!
Message 5 of 14
Frequent Contributor

Re: PenFed Offers and Massive SP CLI

Congratulations






Biz Cards
Message 6 of 14
New Contributor

Re: PenFed Offers and Massive SP CLI

congrats!



Message 7 of 14
Regular Contributor

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
Community Leader
Super 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. 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
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


Fico 8: EX - 713 (11 INQs) TU - 717 (14 INQs) EQ - 700 (11 INQs)
Message 10 of 14
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