Penfed still giving generous initial CLs

[devacraze]

For those of you looking for high inital credit lines, apparently Penfed is still a good bet.

Just for giggles, I joined Penfed and applied today for their visa card.

Approved for $46,500 (this was the automated amount that popped up - I did not even think to ask for more).

- AAoA is 11 years

- EQ is 782

- overall utilization about 16% and have 56% util on one card

- 1 INQ

- 38 total accounts (17 with balances)

Wasn't an instant approval - took about 30 minutes to show up approved.

Good luck to everyone.

[gdale6]

Wow, one very nice starting limit, congrats

[efranklin23]

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@devacraze wrote:

For those of you looking for high inital credit lines, apparently Penfed is still a good bet.

Just for giggles, I joined Penfed and applied today for their visa card.

Approved for $46,500 (this was the automated amount that popped up - I did not even think to ask for more).

- AAoA is 11 years

- EQ is 782

- overall utilization about 16% and have 56% util on one card

- 1 INQ

- 38 total accounts (17 with balances)

Wasn't an instant approval - took about 30 minutes to show up approved.

Good luck to everyone.

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Congrats on the HUGE CA LIMIT!

It seems to me that PenFed gives high limits when you have a good AAoA, low inquiries, more than 2 accounts open for more than 5 years (clearly you trumped that) and income over 100/k year (Not sure if you hit that mark)..

[alvon123]

WOW!!!!!!!!!!!!!!! congrats

[lexandra90]

Thats awesome!!

do they need income proof and such??

Id like to apply to them later this year

[baller4life]

Amazing limit!!!!!

[devacraze]

No income documentation was required.

I would be willing to submit it to recon for a higher limit.

[baller4life]

wow you need a higher limit? I'd have a coronary with the kind of limit they gave you! That's an insane limit! Lol

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@devacraze wrote:

No income documentation was required.

I would be willing to submit it to recon for a higher limit.

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[devacraze]

Well, like anything else, it's not a matter of need, it's a matter of want.

I have a couple other cards that are around 35-37k limit and I think that Penfed is pretty aggresive and was willing to top those. I am sort of surprised they did not require a little seasoning with the card first, but it's good they did not because it won't get any real use.

Now that I have Penfed in hand where it is, I will call OCCU and recon to raise my Duck card above 20k, which was the initial limit. They have been sitting on my existing recon request for like 2 weeks at their corporate office and have not made any decision. I hope this additional line higher than theirs will spur them to some action.

[MsLadyRover]

Oh Wow!! That's one heck of an initial credit limit!!! I would have passed out if that popped up on my screen.  LO!!!

Congrats!