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Maximizing aggregate credit - PenFed offer

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expatCanuck
Super Contributor

Maximizing aggregate credit - PenFed offer

Greetings -

 

Joined PenFed in January -- PCR for 10K. Today I received an offer - increase the PCR to 17.7, or add a new card for 17.7 (Pathfinder Rewards Amex or Platinum Rewards Visa).

 

I have no interest in either of the latter cards but, from where I sit, a higher aggregate CL is better.

 

Anyone know if I'd be able to get the new card and, say, a year down the line, close it and migrate the CL to my PCR?


2023 Goal: save 3 months' net income

Starting FICO8: 666 (give or take a FICO)
[ Last INQ 12-Feb-2024 ]
EQ8415 INQ (Auto, CC, HELOC, 2 mort)7y2m
EX8125 INQ (2 CC, 2 mort, HELoan)6y11m
TU8294 INQ (3 CC, 1 mort)6y6m
5/243/12AoYA 0m | AoOA 23y6m~3%
Message 1 of 7
6 REPLIES 6
coldfusion
Community Leader
Mega Contributor

Re: Maximizing aggregate credit - PenFed offer

Are you sure the offer is increase the PCR 'to' $17.7K and not increase 'by' $17.7K?

 

This would be the first time I've heard of an offer that showed a different amount for a card already held vs one not already held.

(3/2024)
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 2 of 7
AverageJoesCredit
Legendary Contributor

Re: Maximizing aggregate credit - PenFed offer

I believe its possible though you would most likely have to close the donor card and your cl wont be able to surpass the 25k limit they are now imposing on a single credit card.
Message 3 of 7
SouthJamaica
Mega Contributor

Re: Maximizing aggregate credit - PenFed offer


@expatCanuck wrote:

Greetings -

 

Joined PenFed in January -- PCR for 10K. Today I received an offer - increase the PCR to 17.7, or add a new card for 17.7 (Pathfinder Rewards Amex or Platinum Rewards Visa).

 

I have no interest in either of the latter cards but, from where I sit, a higher aggregate CL is better.

 

Anyone know if I'd be able to get the new card and, say, a year down the line, close it and migrate the CL to my PCR?


I have done it several times with PenFed. There was no problem.


Total revolving limits 741200 (620700 reporting) FICO 8: EQ 701 TU 704 EX 685

Message 4 of 7
expatCanuck
Super Contributor

Re: Maximizing aggregate credit - PenFed offer


@coldfusion wrote:

Are you sure the offer is increase the PCR 'to' $17.7K and not increase 'by' $17.7K?

 

This would be the first time I've heard of an offer that showed a different amount for a card already held vs one not already held.


Excellent question.  To me the text is ambiguous, and I may well have misinterpreted.  Let's see what happens.

pfOffer.JPG


2023 Goal: save 3 months' net income

Starting FICO8: 666 (give or take a FICO)
[ Last INQ 12-Feb-2024 ]
EQ8415 INQ (Auto, CC, HELOC, 2 mort)7y2m
EX8125 INQ (2 CC, 2 mort, HELoan)6y11m
TU8294 INQ (3 CC, 1 mort)6y6m
5/243/12AoYA 0m | AoOA 23y6m~3%
Message 5 of 7
kilroy8
Community Leader
Super Contributor

Re: Maximizing aggregate credit - PenFed offer

Nice CLI. Congrats!

Message 6 of 7
FinStar
Moderator Emeritus

Re: Maximizing aggregate credit - PenFed offer

This thread is locked and closed to new messages.

The new thread can be found here:
https://ficoforums.myfico.com/t5/Credit-Card-Approvals/Re-Maximizing-aggregate-credit-PenFed-offer/t...
Message 7 of 7
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