Closing PenFed Account

[DI]

I want to close my PenFed  Platinum Cash Rewards card. It only has a $1000 credit line.  I really don't care about the 5% cashback in gas. 

[DI]

I just sent them the following message:

I'm considering closing my Platinum Cash Rewards card. I've had the card for almost two years and haven't received a line of credit increase.  The card is my lowest limit card at $1,000.  I think my credit rating is more deserving of that.

[Anonymous]

I'm about going to ask the same question about my thrifty credit service account which I don't even know I have ever applied for.

 It popped up in my credit report and hurt score. What number to call to close the account ?

[Anonymous]

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@DI wrote:

I want to close my PenFed  Platinum Cash Rewards card. It only has a $1000 credit line.  I really don't care about the 5% cashback in gas. 

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Ok.  Best of luck.

[Anonymous]

7/12/11 EX FICO score 778, 8/12/11 EX FICO score 800

You should let PenFed know that you already know your 8/12/11 FICO score and see if that impresses them into a CLI.

[DI]

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@Anonymous wrote:

I'm about going to ask the same question to my thrifty credit service account which I don't even know I have ever applied for.

 It popped up in my credit report and hurt score. What number to call to close the account ?

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Isn't the thrifty service account an overdraft protection option for checking?  If you have a checking account with them you may want to keep it.  I guess the reason why its on your credit reports is due to it being a line of credit. 

[DI]

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@Anonymous wrote:

7/12/11 EX FICO score 778, 8/12/11 EX FICO score 800

You should let PenFed know that you already know your 8/12/11 FICO score and see if that impresses them into a CLI.

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When they pulled my credit in 2009, the CSR told me my EQ  score was 792.  I'm not sure if it was a FICO score. 

[DI]

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@Anonymous wrote:

7/12/11 EX FICO score 778, 8/12/11 EX FICO score 800

You should let PenFed know that you already know your 8/12/11 FICO score and see if that impresses them into a CLI.

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The reason why I'm thinking my 8/12/11  EX FICO score will be 800 is because of  two new AMEX accounts.  I'll have two 1997 AMEX accounts reporting for the next pull.  My AAoAs will increase alot.  A total of 22 more points shouldn't be hard to obtain. 

[Gray]

It seems to me that PenFed would make a decision to grant you a larger credit line based on:

(a) your gross income

(b) your income after major obligations (e.g., house/apartment, car payment, child support, student loans, etc.)

(c) your total credit available

(d) your total credit in use.

(e) your credit score.

So if "e" is great, what are the other four items?  It might explain PenFed's inaction.

[DI]

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@Gray wrote:

It seems to me that PenFed would make a decision to grant you a larger credit line based on:

(a) your gross income

(b) your income after major obligations (e.g., house/apartment, car payment, child support, student loans, etc.)

(c) your total credit available

(d) your total credit in use.

(e) your credit score.

So if "e" is great, what are the other four items?  It might explain PenFed's inaction.

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A-E are all good.  I have no credit card debts.  Any creditor that start me off with less than $5000 CL, to me that account is subprime.  I command a $5000 or more CL for my business.   I'm closing the PenFed card and the Target card this week.  That will leave me with 7 prime cards.