How does a PenFed limit grow?

Anonymous · ‎06-17-2017

Does PenFed typically issue CLI on an auto schedule or is there a recommended timeframe to request some LUV?

I've also read a HP is typically good within 90 days. If ones credit improves within 90 days do they do a SP in that timeframe for visibility since the last HP? Are subsequent CLIs via LUV button a HP?

Anonymous · ‎06-17-2017

My Promise card was approved for $26,100 right off the bat, nearly three years ago. No auto CLI's for me, but then I do not really use the card.

The easiest way to get a CLI with PenFed is to wait until you get your quarterly pre-approvals on your online account management. You will either be offered a CLI on your existing account or you will be offered a second credit card. If the latter is all that is pre-approved, you will actually be able to use that pre-approval (for the second card) for a CLI on your existing account during the application process rather than opening a new account. If it is too confusing you can call them up and they will take care of you over the phone.

Others may be able to offer their experience on auto CLI's, but that never happened for me. I actually keep meaning to call them to lower it to $25,000 as I hate uneven limits LOL

ETA: the pre-approvals are almost always a SP. Any request on your part for a CLI outside of a pre-approval will be a HP. PenFed HP's can be good for 90 days but many here have stated that this has been lowered to 30 days. YMMV. .

AverageJoesCredit · ‎06-17-2017

Good info CO_NATIVE

Ill just add that if you have a low income i wouldnt hold my breath waiting on quarterly preapprovals, not everyone gets them.

BPebbles · ‎06-17-2017

@Anonymous wrote:
My Promise card was approved for $26,100 right off the bat, nearly three years ago. No auto CLI's for me, but then I do not really use the card.

The easiest way to get a CLI with PenFed is to wait until you get your quarterly pre-approvals on your online account management. You will either be offered a CLI on your existing account or you will be offered a second credit card. If the latter is all that is pre-approved, you will actually be able to use that pre-approval (for the second card) for a CLI on your existing account during the application process rather than opening a new account. If it is too confusing you can call them up and they will take care of you over the phone.

Others may be able to offer their experience on auto CLI's, but that never happened for me. I actually keep meaning to call them to lower it to $25,000 as I hate uneven limits LOL

ETA: the pre-approvals are almost always a SP. Any request on your part for a CLI outside of a pre-approval will be a HP. PenFed HP's can be good for 90 days but many here have stated that this has been lowered to 30 days. YMMV. .

Great info to have!