Re: PenFed Power Cash App

Klineact · ‎12-26-2019

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!

thornback · ‎12-26-2019

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 | 04/2022: EX 796 ✦ EQ 793 ✦ TU 790
Current FICO 9s | 04/2022: EX 790 ✦ EQ 788 ✦ TU 782
2022 Goal Score | 800s

My AAoA: 4.6 years not incl. AU / 4.9 years incl. AU
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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.

M_Smart007 · ‎12-26-2019

Congrats & Happy Holidays!

Marz2002 · ‎12-26-2019

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

AllZero · ‎12-26-2019

Congratulations on your approval!

coldfusion · ‎12-26-2019

@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.

(3/2024)
FICO 8 (EX) 846 (TU) 850 (EQ) 850
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Artist formerly known as the_old_curmudgeon who was formerly known as coldfusion

Anonymous · ‎12-26-2019

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.

Anonymous · ‎12-26-2019

Congrats on your PenFed PowerCash approval and sweet SL!

Anonymous · ‎12-26-2019

Congratulations!

Traveler101 · ‎12-26-2019

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

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