Penfed Gold Visa Card Approved with only 5K

mrinal · ‎05-18-2023

Hi,

My application for the Penfed Gold Visa Card has been approved with 5k initial credit line. It is too less. Do they reconsider? Should I call them? What should I tell them?

Thanks

FireMedic1 · ‎05-18-2023

Congrats! You may have gotten what they feel was right with your file. Remember lenders baddies are on the rise. Peek into Credit in the News. You'll see.

SUPERSQUID · ‎05-18-2023

CONGRATS !!!!!!

Its not a terrible sl. I think that card comes with a bt offer 15 months at zero 3pct fee

{ BK7 DC 12/2019 } target 2800/ kohls Visa 7000/ discover IT cb 6500 / 2nd discover IT cb 6000/mercury 4100 /legacy 3500 /HUE cc 3500/ cap1 QS 5000/ cap 1 savor one 3100 /Bread rewards Amex 4k, Penfed PCR signature visa 10k/ penfed gold 7.5k NFCU >signature visa cash rewards 21700/bread cashback amex 8000

>/ nfcu platinum 15k, BABY NEEDS NEW SHOES !!!!!
closed-- reflex, applied bank, first digital, mission lane, ikea, fingerhut, big lots, valero gasoline, ollo, more to come
Rebuilding since September 2020
who i burned - chase, cap 1, TD bank, Sync, were the biggies
Income 40k
Total utilization around 20 pct depending on my current usage/needs
Ficos ,most are slightly above 700, the 9's slightly higher than the 8's

TCL - about 110k
Retired since 2017

M_Smart007 · ‎05-18-2023

Congrats on your PenFed Approval.

I doubt that they would reconsider the SL.

CreditMagic7 · ‎05-18-2023

Congratulations on your Penfed Gold Visa Card Approval!

gingerflower · ‎05-18-2023

Congratulations!

CreditAggie · ‎05-18-2023

Congratulations on your PenFed Gold approval!

Current Cards (in order of approval):

Current FICO 8 | 9 (January 2025):

Credit Age:

Inquiries (6/12/24):

Banks & CUs:

NoMoreDebt · ‎05-18-2023

congrats on the approval

AMEX CHARLES SCHWAB PLATINUM NPSL/ AMEX CHARLES SCHWAB INVESTOR CARD $25,000 CL/ AMEX MORGAN STANLEY BLUE CASH $5K CL/ AMEX GOLD NPSL / AMEX GREEN NPSL/ AMEX EVERYDAY PREFERRED $5000 CL/AMEX BLUE BUSINESS PLUS $5000 SL/ AMEX BLUE CASH EVERYDAY $18,000 / FIDELITY REWARDS VISA $23,500 SL

SOCKDRAWER/ PAYPAL CREDIT LINE $1700/NFCU FLAGSHIP $40,000 CL/ NFCU MORE REWARDS $40,000/ WELLS FARGO AUTOGRAPH $8200/APPLE CARD $6500/DISCOVER IT $3000 SL/CITI COSTCO ANYWHERE VISA $6000 SL

Janneman · ‎05-18-2023

@mrinal wrote:
Hi,
My application for the Penfed Gold Visa Card has been approved with 5k initial credit line. It is too less. Do they reconsider? Should I call them? What should I tell them?

Thanks

I am sure that they will NOT reconsider it as I have been in this situation with them a few years back. However, you will be able to ask for CLI after 6 months...At that time, they could increase big time if you would use the account enough. However, keep it in mind that the underwriting for their Gold card is not that good...meaning, most of the time they don't give enough CLI on this card...Don't know why...but you can always apply another card with them or ask for CLI (after 6 months later). Good luck...