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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.*
@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 AverageJoesCredit He's talking about you buddy lol
@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.
<This spot reserved for AJC's reply>
Congrats OP
congrats!
@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.
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.