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PenFed Power Cash App

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PenFed Power Cash App

Well this is a shock.  I have 1 Pen Fed Amex I got about 5 months ago.  It has a $7500 limit and currently has a 4K zero percent BT sitting on it but I have paid average monthly payments of $500 ....much more than minimum.  Meanwhile I pulled the trigger on the Power Cash Rewards and I got an instant approval with a CL of $17,500.00! Almost fell out of my **bleep** chair!!! I hope they dont decide to change their mind I had a hard time 5 months ago bc my app went from approved to under review.  We shall see.  ETA-I applied for this same card back in September BTW and was denied. Go figure!

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19 REPLIES 19
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Valued Contributor

Re: PenFed Power Cash App

Congrats on the approval and very nice SL! 

Personal Aphorism:
"Forget What You Feel, Remember What You Deserve"


Starting FICO 8s | 09/2017: EX 641 ✦ EQ 634 ✦ TU 647
Current FICO 8s | 03/2020: EX 780 ✦ EQ 758 ✦ TU 781
Current FICO 9s | 03/2020: EX 793 ✦ EQ 780 ✦ TU 778
Highest FICO-8 Ever | 10/2018: 780 [on dirty report]

2020 Goal Score | 790s


My AAoA: 3.0 years not incl. AU / 3.3 years incl. AU
My AoOA: 7.1 years not incl. AU / 9.1 years incl. AU
Inquiries: EX 0/6 | 3/12 ✦ EQ 0/6 | 3/12 ✦ TU 1/6 | 1/12
Report Status: Clean


Without patience, we will learn less in life. We will see less. We will feel less. We will hear less. Ironically, rush and more usually mean less.
Message 2 of 20
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Super Contributor

Re: PenFed Power Cash App

Congrats & Happy Holidays!

Message 3 of 20
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Valued Contributor

Re: PenFed Power Cash App

CONGRATS @Klineact on your PenFed Power Cash approval and the MASSIVE SL!!! 

AMEX BCE $8K | AMEX Cash Magnet $15K | Citi DoubleCash WEMC $13.7K | Citi AAdvantage WEMC $14K | Citi Costco VS $12K
Discover IT $19K | OpenSky $300 | BB&T Cash Rewards $4.5K | Synchrony (PayPal Credit $4K, Care Credit $15K, & PayPal 2% MC $10K) |
BBVA Compass Rewards VS $10.5K | NFCU cashRewards $3K | NFCU More Rewards AMEX $33K | NFCU Flagship VS $15K
Apple Card WEMC $6K | Macy's AMEX $4.5K | PenFed Power Cash Rewards VS $7.5K

TCL - $194K+ | Rebuilding since April 2018
Message 4 of 20
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Super Contributor

Re: PenFed Power Cash App

Congratulations on your approval!
Message 5 of 20
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Super Contributor

Re: PenFed Power Cash App


@Klineact wrote:

Well this is a shock.  I have 1 Pen Fed Amex I got about 5 months ago.  It has a $7500 limit and currently has a 4K zero percent BT sitting on it but I have paid average monthly payments of $500 ....much more than minimum.  Meanwhile I pulled the trigger on the Power Cash Rewards and I got an instant approval with a CL of $17,500.00! Almost fell out of my **bleep** chair!!! I hope they dont decide to change their mind I had a hard time 5 months ago bc my app went from approved to under review.  We shall see.  


Congrats on your approval!  You discovered one of the ways to earn PenFed's love; they like to see BTs that are paid back with regular large monthly payments several times more than the monthly mininum.

(8/2019)
FICO 8 (EX) 793 (TU) 808 (EQ) 794
FICO 9 (EX) 822 (TU) 827 (EQ) 844

$900K+ club
Message 6 of 20
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Regular Contributor

Re: PenFed Power Cash App

Congrats!  Penfed hooked me up in the same way with the same card.  It was like a Christmas present.  I have no desire and no need for another credit card, ever.  Now I've gotta decide if I am going to ditch Citi, Chase, AmEx, Discover or Capital One or several at the same time.

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Senior Contributor

Re: PenFed Power Cash App

Congrats on your PenFed PowerCash approval and sweet SL!





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Valued Contributor

Re: PenFed Power Cash App

Congratulations!



Message 9 of 20
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Frequent Contributor

Re: PenFed Power Cash App

Congrats on your approval. And thanks @coldfusion for the for the insight.
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