Penfed PowerCash Pre Approval Offer

[Anonymous]

Hello everyone. I was browsing through my penfed account and noticed a pre-approval for a credit card for $50k. They were offering powercash or power rewards or promise. The offer was $50k at 11.74%.

I don't really need the card but it was a great offer with a large SL.

I went ahead and accepted it and it went through.. got a congrats notice and options on where to send card and how.. I chose express mail.for $15.

On my final step I needed to e-sign the loan docs but it kept going to error and logging me out.

I was hoping someone had some experience with the online application or if anyone had experienced something similar.

Thanks for your feedback.. this forum is awesome.

[CreditCuriosity]

Huge limit indeed.  Assume they are one of your FI if not main?  Care to share any stats such as your EQ score they provide etc?  Great limit and APR

[Anonymous]

Congrats on the Pre Approval offer!!

I don't know about the error message, but if you keep having problems I would call a CSR at PenFed.

Do you have other credit cards or loans with PF?

[Anonymous]

Wow that’s a nice SL! Congratulations!

[bigpoppa09]

I thought i read where Penfed changed how high the limit can be on one card to 25K grandfathered cards had higher limits than 25K did they change policy again?

[CreditCuriosity]

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@bigpoppa09 wrote:

I thought i read where Penfed changed how high the limit can be on one card to 25K grandfathered cards had higher limits than 25K did they change policy again?

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policies are an evolving thing.  It has changed again a few months back it appears.

[bigpoppa09]

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@CreditCuriosity wrote:

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@bigpoppa09 wrote:

I thought i read where Penfed changed how high the limit can be on one card to 25K grandfathered cards had higher limits than 25K did they change policy again?

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policies are an evolving thing.  It has changed again a few months back it appears.

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I need to him them up then my PCR is camped out at 25K.

[CreditCuriosity]

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@bigpoppa09 wrote:

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@CreditCuriosity wrote:

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@bigpoppa09 wrote:

I thought i read where Penfed changed how high the limit can be on one card to 25K grandfathered cards had higher limits than 25K did they change policy again?

---

policies are an evolving thing.  It has changed again a few months back it appears.

---

I need to him them up then my PCR is camped out at 25K.

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call and validate first that can go above 25k as I am above, but was before the 25k cap rule went into place.  Better being safe than sorry, but believe the rule has changed as can be seen on this post and others on the forum.  Still nothing wrong with a recorded conservation over the phone to cover yourself 

[Aim_High]

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@Anonymous wrote:
Hello everyone. I was browsing through my penfed account and noticed a pre-approval for a credit card for $50k. They were offering powercash or power rewards or promise. The offer was $50k at 11.74%.  I don't really need the card but it was a great offer with a large SL.

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Congrats on your approval for a great card and absolute KILLER SL!

I had heard PenFed typically allowed total credit lines of $50K but not heard of anyone getting that on a preapproval SL out-of-the-gate!  

Please do provide more DPs on your relationship with PF, scores, DTI, etc. 

[bigpoppa09]

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@CreditCuriosity wrote:

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@bigpoppa09 wrote:

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@CreditCuriosity wrote:

---

@bigpoppa09 wrote:

I thought i read where Penfed changed how high the limit can be on one card to 25K grandfathered cards had higher limits than 25K did they change policy again?

---

policies are an evolving thing.  It has changed again a few months back it appears.

---

I need to him them up then my PCR is camped out at 25K.

---

call and validate first that can go above 25k as I am above, but was before the 25k cap rule went into place.  Better being safe than sorry, but believe the rule has changed as can be seen on this post and others on the forum.  Still nothing wrong with a recorded conservation over the phone to cover yourself 

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Good advice.