First Monday of the month, so I thought I'd take a look at my portfolio and see if there were any cards due for a CLI request. Saw that I hadn't requested an increase on my PenFed Power Cash Rewards card since I was approved back in July. I had been sitting on the initial CL of $5,000 while I pursued other relationships with AmEX and Citi. I had originally gone after PenFed during my rebuild and they were slow to approve a credit card (finally after 12 months with them), so once I got the Cash Rewards card (at a slightly lower SL than a couple of other cards I'd received in the interim) I kinda forgot it in the sock drawer.
Anyway, went and hit the Luv Button, answered a question or two, and voila! Instant CLI to $15,000. I had heard PenFed was good for healthy increases, but then also heard they had grown stingy. Was pretty happy with the triple CLI to be sure.
After I thought about it for a few minutes, I remembered I had looked at their Platinum Rewards Visa, mostly due to the 5:1 on gas and 3:1 on groceries (before I had my new AmEx Green which now duplicates the grocery earn). I figued, "what the hell". Just got a healthy CLI on the Cash Rewards (on a soft pull by the way) so why not give it a shot.
Clicked on the app button, filled in what wasan't auto-filled in the online app and hit the app button. It went immediately to an underwriter (which I think happends on ALL new credit applications with PenFed) for review. About 30 minutes later, I got an email saying I was approved! Same soft pull too! PenFed Platinum Rewards Visa Signature® Card with $15,000 initial CL. Needless to say, I'm doubly happy and went from $5,000 CL to a combined $30,000 in one morning!
Happy Dance for sure.
Congratulations on your CLI and approval!
I got one today too, Congragulations
@Anonymous wrote:I would expect a couple of HPs to come -- please update if that is the case. That said, two excellent approvals, so Congrats! Mac.
I think it will be a single Eq HP if one comes down (still no notification from any CRB). PenFed will use the same HP for up to 90 days (per numerous data points on here).
@MacRoadie wrote:
@Anonymous wrote:I would expect a couple of HPs to come -- please update if that is the case. That said, two excellent approvals, so Congrats! Mac.
I think it will be a single Eq HP if one comes down (still no notification from any CRB). PenFed will use the same HP for up to 90 days (per numerous data points on here).
As suspected, one EQ HP. Reported this morning. 
^ Very nice pick up for one inquiry.
@MacRoadie wrote:First Monday of the month, so I thought I'd take a look at my portfolio and see if there were any cards due for a CLI request. Saw that I hadn't requested an increase on my PenFed Power Cash Rewards card since I was approved back in July. I had been sitting on the initial CL of $5,000 while I pursued other relationships with AmEX and Citi. I had originally gone after PenFed during my rebuild and they were slow to approve a credit card (finally after 12 months with them), so once I got the Cash Rewards card (at a slightly lower SL than a couple of other cards I'd received in the interim) I kinda forgot it in the sock drawer.
Anyway, went and hit the Luv Button, answered a question or two, and voila! Instant CLI to $15,000. I had heard PenFed was good for healthy increases, but then also heard they had grown stingy. Was pretty happy with the triple CLI to be sure.
After I thought about it for a few minutes, I remembered I had looked at their Platinum Rewards Visa, mostly due to the 5:1 on gas and 3:1 on groceries (before I had my new AmEx Green which now duplicates the grocery earn). I figued, "what the hell". Just got a healthy CLI on the Cash Rewards (on a soft pull by the way) so why not give it a shot.
Clicked on the app button, filled in what wasan't auto-filled in the online app and hit the app button. It went immediately to an underwriter (which I think happends on ALL new credit applications with PenFed) for review. About 30 minutes later, I got an email saying I was approved! Same soft pull too! PenFed Platinum Rewards Visa Signature® Card with $15,000 initial CL. Needless to say, I'm doubly happy and went from $5,000 CL to a combined $30,000 in one morning!
Happy Dance for sure.
Congrats!!! I just got the Platinum Rewards a couple of days ago too so you're making me feel optimistic about a future CLI. By the way, just for some DP, mine was an instant approval and did not go to an underwriter (it also was only half of your SL so maybe that has something to do with it).
