Congrats 86 with your love affair with Penfed
My brother had the same idea as you but unfortunately he went the silver route. Hopefully there will be a rebound shortly
Congrats @M_Smart007 !!
You're nearly at max exposure with Penfed.
They'll probably give you the rest on a SP preapproval in the coming months.
It's been so long, I forgot what they look like
So while I had applied and was approved for a $11,500.00 CLI on PenFed PCR Card.
$33,500.00 + $11,500.00 >>>> $45,000.00 NEW SCL
Totally cool to get that high with PenFed!
Rumor has it that they were capped at $25K per card and $50K total but I guess you blew that theory out of the water!
For data points, how long had it been since you opened the account, got a CLI, and what was rough monthly spend on the card to get that increase?
Opened October 28 2019
I think I bough one rare gold coin at about $3300.00 and about $200-$300 gas and restaraunt spend.
I did have direct deposit and ACH transfers into Access America checking,
and Premium online Savings for just a little over $100K.
I did keep 99K in the Savings.
Not really any big spend on the card. I do qualify for the 2% cash back.
I think the capped hard limits are very much a "YMMV" type of thing with them.
Awesome, thanks!! That helps somewhat. I'm right behind you. I got the PenFed Power Cash and opened accounts on 11/18/19. I don't have a recurring DD but I've put some funds (much more than minimal) into checking, savings, and also moved money into a Premium Online Savings although not as much as you. Using the card for a lot of routine spend and planning to go for CLI at about six months. (They only approved me for $15K initially so hoping for at least $25K with no new apps in six months, my account activity, my high credit scores, and high income/low debt.) I'm hoping building "relationship" with both PenFed and Navy FCU will help my approvals for higher limits over time.
Thanks @Mv350 !
Hope your hard work is going well,
and life can somewhat get back to ..some kinda normal soon
Let's hope for some sort of normalcy soon!
@Mv350, Is it normal yet?
Well I work days now, so more normal than before lol
congrats on your CLI... so definitely there's no 6 months waiting rule for CLI at Penfed??