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Were you a member of Penfed when you got your Platinum Rewards in June? And was your husband a member when he got the 2 cards in August? Meaning did you join Penfed by requesting credit, or did you become a CU member, and then ask them for credit?
Congrats. I too felt the love on my 2 new accounts with them. Got the Pathfinder Amex about 6 months ago with a SL of $10,000 and then the Power Cash 4 months ago with a SL of $10,000. Beginning of December asked for CLI on Amex and approved to $17,500, then right before New Years asked for CLI on Power Cash and was also bumped to $17,500. That should mean there is a $15,000 approval waiting for me some day. LOL.
@Anonymous wrote:
Yes husband and I were both members FIRST. We both joined in August of 2018. Took almost a year for us to receive credit after both being denied when we first joined .
Nothing really changed in our credit profiles except being Members for almost a year .
Awesome, final question... Do you use them as your main bank/CU. Reason being, I've read about how great they are, and I'm mosting intersted in their credit. I have a CU that I have a great relationship with, and have a CC with them, but Penfed credit is much better. I think the rewards they offer are amazing. Would you suggest opeing an account with them and just holding some funds there? Or are they more intersted in seeing someone that is an active account holder?
I know you weren't asking me particularly but in my case, I was a member several years with $5 in the account and got approval for a card with them last week.
@Anonymous wrote:
Yes husband and I were both members FIRST. We both joined in August of 2018. Took almost a year for us to receive credit after both being denied when we first joined .
Nothing really changed in our credit profiles except being Members for almost a year .
Yes, I agree cause when I open mine I was approved for a car refi and a credit card in the same week. Like many banks they like you or not...Peter
@Anonymous wrote:
We have been putting our savings into our account with penfed . We switched from our main bank savings account to them , so that may have helped , we have a rental so each month we take that income and I alternate putting it into my husbands savings account or mine . Once I got approved with their credit cards I stopped and have been putting that extra income into our main banking savings account again . I am not quite sure if putting money into a account “helps “ per say. From everything I have read about penfed , I think either they like your profile or they don’t . I don’t think having money in their accounts would change their minds if there were issues with your credit profile that they didn’t like , but other members might say otherwise 🤗
Yes, I agree with you depend if they like you or not......Peter