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PenFed PCR Visa $11,500 CLI ******Approved!

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Mega Contributor

Re: PenFed PCR Visa $11,500 CLI ******Approved!


@Consigliere wrote:

congrats on your CLI... so definitely there's no 6 months waiting rule for CLI at Penfed??


@Consigliere, Thank you! ...Nothing is set in stone, but I had also put $100K into their Premium Online Savings.

So it is possible, money can buy you LoveSmiley Very Happy


Message 41 of 43
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Valued Contributor

Re: PenFed PCR Visa $11,500 CLI ******Approved!


@Consigliere wrote:

congrats on your CLI... so definitely there's no 6 months waiting rule for CLI at Penfed??


Welcome to My Fico Forums @Consigliere and congrats on your first posting!  Smiley Happy

 

While there aren't hard-and-fast rules that I know of, PenFed does a Hard Pull for CLI so you don't want to have them do it too early.  I'd recommend six months to be safe as a minimum. My Power Cash Rewards was approved at $15K.  I asked at seven months and they upped it to $25K.  Then a couple of weeks later offered me a second card with $16.K limit or additional CLI on my PCR, so I took the higher limit and raised it to $41.7K!  That may be an exceptionally fast rise, but they are more generous as they get to know you. 

 

Similar to the experience of @M_Smart007, I deposited a good bit of money in checking, savings, and the Premium Online Money Market Savings in those first six months so maybe it helped.  Oddly enough (or perhaps not), the credit lines offered mirrored my deposit amounts pretty closely. 



Updated 06/04/2020
Total Length of Credit = 35+ years; AoOA (Currently open accounts) = 27+ years;
AAoA = 8+ years; AoYA = less than 1 year (July 2020)
Total Open Credit Lines Over $527K. Utilization Less Than 1%. Inquiries until Nov 2020 (TU:2 -- EQ:4 -- EX:7)
*Hover cursor over each card to see name & CL, or press & hold on mobile app.
Message 42 of 43
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New Member

Re: PenFed PCR Visa $11,500 CLI ******Approved!

Thank you @Aim_High  & @M_Smart007  for the heads-up Smiley Wink it definitely weight a lot, all financial institutions look at relationship first when it comes to exceptions and tier-bumps.

Well I have a Pathfinder parked at $10k for over a year and a new Platinum Rewards at $17500 for less than 6 months. Me thinking maybe I should pull the CLI trigger for both using the same pull

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