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High limit credit card?

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coldfusion
Community Leader
Mega Contributor

Re: High limit credit card?


@FinStar wrote:

@AllZero wrote:

@Anonymous wrote:

I have a 50k Penfed Promise that took me about 3.5 years to get there. I use it when I need to carry balances at low API.

BTW I have a 10K PLOC, is PLOC CLI an HP?



It's probably a HP for any credit product or CLI with PenFed. I'm not sure what is the max on the PLOC, 10K perhaps? I believe you can have more than one PLOC if you have additional accounts.


The max CL for PenFed's PLOC is $25K.  And, correct it's HP for a CLI.  The Thrifty Credit Service (or Overdraft Line of Credit) is a separate product, not a PLOC. 


There is 1 exception to the HP CLI rule - if a current cardholder gets a SP-driven preapproved offer for an additional card they can select (a|the) current card and accept the offer.  The value of the SL will instead be applied as a CLI to the selected existing card without a HP. 

(5/2024)
FICO 8 (EX) 846 (TU) 850 (EQ) 850
FICO 9 (EX) 850 (TU) 850 (EQ) 850

$1M+ club

Artist formerly known as the_old_curmudgeon who was formerly known as coldfusion
Message 31 of 38
M_Smart007
Legendary Contributor

Re: High limit credit card?

Good to know for future reference    .. Thanks @coldfusion Smiley Happy

May the vending machine smile upon you todaySmiley Very Happy

Message 32 of 38
coldfusion
Community Leader
Mega Contributor

Re: High limit credit card?


@M_Smart007 wrote:

Good to know for future reference    .. Thanks @coldfusion Smiley Happy

May the vending machine smile upon you todaySmiley Very Happy


Thanks - happily is has been, I needed the additional caffeine. 

(5/2024)
FICO 8 (EX) 846 (TU) 850 (EQ) 850
FICO 9 (EX) 850 (TU) 850 (EQ) 850

$1M+ club

Artist formerly known as the_old_curmudgeon who was formerly known as coldfusion
Message 33 of 38
Aim_High
Super Contributor

Re: High limit credit card?


@Anonymous wrote:
High limits often go hand-in-hand with the relation you have with the lender - If you have such with Chase for example - CSR is a great path for such a request

True.  And sometimes, ironically, the relationship matters not in the least. 

I had hoped for relationship mattering with the aforementioned Goldman Sachs Apple card since I already had large six-figure deposits in their money market account.  It helped me absolutely none in my SL or CLI request. 

Strange but recently that account now has a fraction of the previous deposits!   I wonder why ... Smiley Tongue


Business Cards


Length of Credit > 40 years; Total Credit Limits >$900K
Top Lender TCL - Chase 156.4 - BofA 99.7 - AMEX 95.0 - CITI 94.5 - NFCU 80.0 - SYCH - 65.0
AoOA > 30 years (Jun 1993); AoYA (Feb 2024)
* Hover cursor over cards to see name & CL, or press & hold on mobile app.
Message 34 of 38
zerofire
Valued Contributor

Re: High limit credit card?


@AllZero wrote:
PenFed's current policy for new members are $10k max CC limit. CC limits per card is 25k unless it's been grandfathered in. Total exposure is $50k.

That must be a rather recent change. Last 2 years or so. I have a 2017 PenFed account where it was my first credit account with them and they issued it at $14,000.

TU:837 09/19/23 Bank of America--EX: 841 09/20/23 Experian--EQ:832 09/21/23 myFICO--Gardening since N/A
Active:
Bank of America (Unlimited Cash Rewards WMC, Customized Cash Rewards WMC, Customized Cash Rewards VSC), Capital One Walmart WMC, Chase(Amazon Prime VSC, Freedom Flex WEMC [x2], Freedom Unlimited VC), Citi Dividend MC, Citizens GreenSense WMC, Curve WEMC(Suspended), Discover It C, FNBO Ducks Unlimited VSC, PenFed (Platinum Rewards VSC, Pathfinder Rewards VSC), Synchrony PayPal Cashback MC, UMB Simply Rewards VC[Milford Federal], US Bank (Altitude Go VSC, Cash+ VSC [x2], Pick n Save/Metro Market WEMC)
Wishlist: AAA Daily Advantage Visa, AOD Signature, Bellco Colorado Rewards, Citi Custom Cash, EBates, Nusenda Platinum Cash Rewards, Ollo Optimum, PCMCU Platinum Rewards, Redstone FCU Signature, Vantage West Connect Rewards
Message 35 of 38
AllZero
Mega Contributor

Re: High limit credit card?


@FinStar wrote:

@AllZero wrote:

@Anonymous wrote:

I have a 50k Penfed Promise that took me about 3.5 years to get there. I use it when I need to carry balances at low API.

BTW I have a 10K PLOC, is PLOC CLI an HP?



It's probably a HP for any credit product or CLI with PenFed. I'm not sure what is the max on the PLOC, 10K perhaps? I believe you can have more than one PLOC if you have additional accounts.


The max CL for PenFed's PLOC is $25K.  And, correct it's HP for a CLI.  The Thrifty Credit Service (or Overdraft Line of Credit) is a separate product, not a PLOC. 


Thank you for the clarification on the PLOC CL max.

 

I recalled reading someone's post on the PLOC, 2nd PLOC might have been a joint account? I'll have to research...

Message 36 of 38
AllZero
Mega Contributor

Re: High limit credit card?


@zerofire wrote:

@AllZero wrote:
PenFed's current policy for new members are $10k max CC limit. CC limits per card is 25k unless it's been grandfathered in. Total exposure is $50k.

That must be a rather recent change. Last 2 years or so. I have a 2017 PenFed account where it was my first credit account with them and they issued it at $14,000.


IIRC it was for 2019. Recent data points in the approvals forum appears that PenFed is offering more than $10K SL.

Message 37 of 38
Aim_High
Super Contributor

Re: High limit credit card?


@AllZero wrote:

@zerofire wrote:

@AllZero wrote:
PenFed's current policy for new members are $10k max CC limit. CC limits per card is 25k unless it's been grandfathered in. Total exposure is $50k.

That must be a rather recent change. Last 2 years or so. I have a 2017 PenFed account where it was my first credit account with them and they issued it at $14,000.


IIRC it was for 2019. Recent data points in the approvals forum appears that PenFed is offering more than $10K SL.


^ ^ This is true.  I opened new accounts with PenFed in November and applied for the Power Cash Rewards card at the same time, so no prior relationship.  They approved me with a $15K limit.  I wonder if I wouldn't have gone higher if I had either established banking for awhile first or else if I had not added numerous other cards prior to the Power Cash in 2019.  (I saw SLs with PenFed as high as $25K last year.)


Business Cards


Length of Credit > 40 years; Total Credit Limits >$900K
Top Lender TCL - Chase 156.4 - BofA 99.7 - AMEX 95.0 - CITI 94.5 - NFCU 80.0 - SYCH - 65.0
AoOA > 30 years (Jun 1993); AoYA (Feb 2024)
* Hover cursor over cards to see name & CL, or press & hold on mobile app.
Message 38 of 38
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