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PenFed - Unexpected (& not Auto) CLI

thornback
Senior Contributor

PenFed - Unexpected (& not Auto) CLI

Hey Y'all... 

 

Okay --  so PenFed has been a thorn in my side since day 1.    I was approved for the PCR with an SL of $3K in Oct. 2018 (which I was somewhat OK with at the time).   I app'd for CLIs twice (3 if you count the initial SL recon) between then and April 2019 and was denied each.  I stopped asking after the last denial in April 2019 and just hoped for offers - of which, so far, I have received none.  In Sept. 2019 - they sent me one of their pre-approved, up to $25K loan checks with an APR of like 14.xx% or something... didn't need it, but could've used it, but with that APR - nah, thx tho.   While I appreciated the loan offer, I couldn't understand why'd they'd be willing to hand me $25K in cash but not increase my limit beyond $3K  ¯\_(ツ)_/¯. 

 

I thought maybe the loan pre-approval was a sign that I passed whatever probationary period they had me on and I'd finally be able to be approved for a CLI.   So -- eventhough I was solidly in the Garden by that time -  I decided to try again.  I unlocked EQ and started the app -- but never actually submitted it because I knew how mad I'd be if I was denied and had to start my Gardening all over again as a seedling - and EQ has been seriously punishing me scorewise for new accounts, inquiries, & student loan balances.   

 

Usually - an uncompleted app sits in the portal for 30 days to let you finish before it disappears - but this one didn't... it just sat there waiting to be continued - till just now.   I received a phone call from PenFed -- and I'm like, 'whyyy are these people calling me??'   It was one of their loan officers - really nice guy that seemed to be in an extremely good mood - and he asked about my app that I never finished (they have some new loan document system now that handles incomplete applications and I got an email about it a while ago but ignored it... apparently, I was supposed to complete "tasks" confirming app cancellation - so that's ultimately why I was contacted).   So I explained that I changed my mind and why...  and he says he understands and just needed to confirm there were no technical issues so he could close out the app...  OK - whatever.    Then, he reminds me that I have a BT offer on my account that needs to be used by the end of the month and they sent me checks that I could use or I can use the online transfer and stuff.   I let him know that I was aware but, unfortunately would not be using it because the amount I'd like to transfer would max out my card.   So then he asked if I'd like a CLI --

 

And I'm like: 'Didn't I just explain this to you?'   

And he said: "I can increase your limit..."

And I said: "Thanks, but I'm not ready to chance another inquiry right now..." 

And he said: "I don't need to pull your report - I have your credit file..."

 

Wat???!   So after I re-confirmed that he wouldn't attempt to pull (my reports are locked anyway)... 

 

I said:  "OK... then increase it." 

And he said: "OK, $10K".    Smiley Surprised

 

Now... I'm super happy that I finally got an increase -- and a $7K increase is a very decent amount by any standard -- and $10K is more than enough for me on this card and would work for a BT as well -- but, at the same time,  i'm thinking: 'that's it? What about my pain & suffering!' 

 

Anyway... I, of course, accepted & thanked him very much for reaching out to me.  I also receieved an email of approval.  I'm kinda in shock because this was the very last thing I would've expected to happen today (or any day)...      And! My card is now a PCR Visa Signature  (see - it says so on the email)  -  will they send me a new card, or do I have to request one?  I should have asked Dude while I had him on the phone but I didn't think about it til now...  I'd like to have the new card design... 

PF-appoval_LI.jpg

 

 

Citi is officially my lowest limit now at $4.1K...  IJS.

 

 

 

 

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


Starting FICO 8s | 09/2017: EX 641 ✦ EQ 634 ✦ TU 647
Current FICO 8s | 11/2020: EX 780 ✦ EQ 771 ✦ TU 781
Current FICO 9s | 11/2020: EX 793 ✦ EQ 780 ✦ TU 778
2020 Goal Score | 800s


My AAoA: 3.8 years not incl. AU / 4 years incl. AU
My AoOA: 7.10 years not incl. AU / 9.10 years incl. AU
Inquiries: EX 0/6 | 1/12 ✦ EQ 1/6 | 2/12 ✦ TU 0/6 | 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.
36 REPLIES 36
AllZero
Super Contributor

Re: PenFed - Unexpected (& not Auto) CLI

Congratulations on your CLI!
Message 2 of 37
AllZero
Super Contributor

Re: PenFed - Unexpected (& not Auto) CLI

I'm thinking I need to do some incomplete applications...
Message 3 of 37
thornback
Senior Contributor

Re: PenFed - Unexpected (& not Auto) CLI


@AllZero wrote:
Congratulations on your CLI!

Thank you!

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


Starting FICO 8s | 09/2017: EX 641 ✦ EQ 634 ✦ TU 647
Current FICO 8s | 11/2020: EX 780 ✦ EQ 771 ✦ TU 781
Current FICO 9s | 11/2020: EX 793 ✦ EQ 780 ✦ TU 778
2020 Goal Score | 800s


My AAoA: 3.8 years not incl. AU / 4 years incl. AU
My AoOA: 7.10 years not incl. AU / 9.10 years incl. AU
Inquiries: EX 0/6 | 1/12 ✦ EQ 1/6 | 2/12 ✦ TU 0/6 | 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 4 of 37
thornback
Senior Contributor

Re: PenFed - Unexpected (& not Auto) CLI


@AllZero wrote:
I'm thinking I need to do some incomplete applications...

Smiley Very Happy   Smiley Tongue  Right?!!!  Wild.

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


Starting FICO 8s | 09/2017: EX 641 ✦ EQ 634 ✦ TU 647
Current FICO 8s | 11/2020: EX 780 ✦ EQ 771 ✦ TU 781
Current FICO 9s | 11/2020: EX 793 ✦ EQ 780 ✦ TU 778
2020 Goal Score | 800s


My AAoA: 3.8 years not incl. AU / 4 years incl. AU
My AoOA: 7.10 years not incl. AU / 9.10 years incl. AU
Inquiries: EX 0/6 | 1/12 ✦ EQ 1/6 | 2/12 ✦ TU 0/6 | 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 5 of 37
AllZero
Super Contributor

Re: PenFed - Unexpected (& not Auto) CLI


@thornback wrote:

@AllZero wrote:
Congratulations on your CLI!

Thank you!


No, thank you! I wonder if there will be an increase in their pending queue? myFICO in full effect, go.

Message 6 of 37
M_Smart007
Epic Contributor

Re: PenFed - Unexpected (& not Auto) CLI

 

Congrats @thornback, sounds about as crazy as My Penfed PCR approval!

 

popcorn eating emoticon.gif
Message 7 of 37
James_A
Valued Contributor

Re: PenFed - Unexpected (& not Auto) CLI

That's a great story, tb. Thanks for sharing it in detail.

And Congrats! on a healthy CLI.

Starting Score: (5/24/2018) -- FICO 08 EXP: 643; FICO 08 TU: 642; FICO 08 EQ: 677
Current Score (11/11/2020): FICO 08 EXP: 747; TU: 762; EQ: 782
2020 Goal Score: 760 across the board


Take the myFICO Fitness Challenge
Message 8 of 37
M_Smart007
Epic Contributor

Re: PenFed - Unexpected (& not Auto) CLI


@AllZero wrote:
I'm thinking I need to do some incomplete applications...

You are awfully braveSmiley Tongue

 

popcorn eating emoticon.gif
Message 9 of 37
AllZero
Super Contributor

Re: PenFed - Unexpected (& not Auto) CLI


@M_Smart007 wrote:

@AllZero wrote:
I'm thinking I need to do some incomplete applications...

You are awfully braveSmiley Tongue

 


Just thinking... 😉

Message 10 of 37
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