Penfed - Multiple Approvals + Question

[Anonymous]

Today, i went ahead and applied for the PLoC with the max limit of $25,000 and was approved. Seeing from the other posts here that they do 1 hard pull for 90days, i applied for a Platinum rewards Visa signature and to my surprise they gave me a $36,000 CL, my biggest to date on approval. I tried for one more card, the PowerCash rewards and it gave me the pending loan officer review. I called in for an update and the LO's reason was it was the most they can give at this time and asked me if i wanted to split the CL between both cards. I went ahead and did just that and so my question is if i did the right thing instead of just keeping all the CL in 1 card. I figured both cards will earn their CLI over time. Overall, i very happy with the outcome. Penfed and their CS rocks!

PS: I do have a car loan with them and have been paying on time.

Fico: 750+

Nextgen Score: 818 

Utilization: 7%

Total EQ inquiry: 1

POI: none

[Anonymous]

That's awesome. In regards to the CC, it probably hurts just slightly your AAoA based on this is two going to report as two accounts instead of one.  It may also hurt if you carry balances on them with the "too many accounts with balances."  But, with your scores, I doubt it will make a difference.

[CreditCuriosity]

Sounds like you cleaned house on a very nice CLOC approval along with a nice CC approval as well ending uup in two approvals.. Great EQ next gen score you have as well!  Thanks for sharing the info.

[Anonymous]

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@CreditCuriousity wrote:

Sounds like you cleaned house on a very nice CLOC approval along with a nice CC approval as well ending uup in two approvals.. Great EQ next gen score you have as well!  Thanks for sharing the info.

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+1...Congrats!! Very Nice!

[Anonymous]

Wow those are some sweet PenFed approvals super congratulations Olah_Molah! Thank you for the data points! 😊

[Meanmchine]

Congrats on a triple play

[Anonymous]

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@Anonymous wrote:

That's awesome. In regards to the CC, it probably hurts just slightly your AAoA based on this is two going to report as two accounts instead of one.  It may also hurt if you carry balances on them with the "too many accounts with balances."  But, with your scores, I doubt it will make a difference.

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Thank you! Im close to gardening and my AAoA does need to age more, im averaging at 6yrs. In regards to the balances, im thankful that i can manage my limit well, i believe ill be hitting 100K+ total CL after this. If i cant pay it in full, i dont buy it. Ofcourse excluding house and car

[Anonymous]

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@CreditCuriousity wrote:

Sounds like you cleaned house on a very nice CLOC approval along with a nice CC approval as well ending uup in two approvals.. Great EQ next gen score you have as well!  Thanks for sharing the info.

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Thank you! I have this forum to thank for that, lots of valuable information here that ive used to establish my credit.

[Anonymous]

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@Anonymous wrote:

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@CreditCuriousity wrote:

Sounds like you cleaned house on a very nice CLOC approval along with a nice CC approval as well ending uup in two approvals.. Great EQ next gen score you have as well!  Thanks for sharing the info.

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+1...Congrats!! Very Nice!

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Thank you! Appreciate it!

[Anonymous]

You're very welcome! I was surprised myself, never received such a limit before. To think my first CC which is the freedom card is still at $2800 CL.

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@Anonymous wrote:
Wow those are some sweet PenFed approvals super congratulations Olah_Molah! Thank you for the data points! 😊

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