It's an awesome card. You'll love it. Welcome to the Penfed family! 
Thanks everyone! The approval was definitely a shocker to say the least. Now, I know how the person felt that "had no intention of applying for a credit card but stopped by the side of the road because they saw a Penfed sign." I literally was about to throw away the invite letter and decided "why not?" I only had a couple inquiries on Equifax for the last 12 months and nothing since November app wise.
@outofcredit wrote:After receiving invitations to apply the last couple months I decided to try for my first PenFed card. Joined PenFed in October 2016. Did a six-month probationary period with them having only a savings account. Opened an Access Checking afterwards with a checking line of credit. This was my first time attempting for a credit card with them. Have been denied previously for PLOC. Really don't use them much for banking but have used the checking line of credit several times throughout the years. My EQ Fico 9 with them as of April was 623. Might be higher now as utilization on other cards has decreased recently. My TU Fico 8 is 642. I only have 2 inquiries within the last 12 months on EQ and 6 inquiries total. Really wasn't expecting the approval. Had to submit POI and it took a couple days for approval. Highest APR of 17.99%.
You have been approved for the PenFed Power Cash Rewards Visa Signature® card:
$6500.00 Credit limit
17.99% variable APR (Annual Percentage Rate)
What's Next?
We are building your new card and it will arrive in 5-7 business days.
Once received, remember to activate and:
- Load your new card credential into Apple Pay, Samsung Pay or Google Pay
Amazing line given your current CLs... congrats!!!!
Congratulations on your approval!!
