Not the PenFed I read about...

[Caught750]

I have 2 cards with Amex, PRG and BCE. PRG is great and I'm waiting on the BCE to grow. I believe Discover and Amex will be my big ones. PenFed may get the SD, I'm not sure yet. I'm thinking I'll give Amex some time to warm up to me and then add another revolver.

[sueblue34]

PenFed has been okay to me. I opened an account back in Aug 2017 got PCR 5k sl. I did app for an additional card and PLOC and was denied. Back then my F9 was 645. I wanted to try again but I will wait til next month to see if I get any offers from the quarterly review. I would like a CLI but to scared to pull the trigger.

[Caught750]

I've read about people getting some luv within the 90 days after a little use and payments, so I may give it 6 months with light use and see what happens. I'll ask around 75 to 80 days and see if I can get it to come up a little.

[Anonymous]

My experience with Penfed was also horrible.  They're csr's are inconsistent.  Some are great and some don't give a **bleep**. 

They have little details which trip up their processes in their policies. 

Navy Federal is much better.

[Anonymous]

Everyone's Penfed experience is different. Mine has been essentially positive over the past year - auto loan in February, then preapproved PCR in July. Penfed has been fairly stingy with CLI's though; turned me down in September and then again this month, but gave me one in November to take me from $3K SL to $7K.  So, right now, I'm waiting for the bimonthly FICO 9 pull at the end of this month and then to see if there are any quarterly offers. (I didn't get a survey email after the latest CLI denial, but then Penfed may not necessarily send those out every time; I didn't get one in September either, but I did get one after I got my PCR in July and my successful CLI in November.)

[Anonymous]

PenFed has been good to me as well, however, I hate those mailers for balance transfers on approved credit...say what?? not that i need them but never heard that before. They're very cautious!!

[Anonymous]

I would try talking to a supervisor again and offer to send in proof of income to help them in their decision reviewing your limit. Also see if they could give you a higher limit on one of their other cards. Don't waste your time with anyone that isn't a supervisor-- it will just frustrate you. FWIW, I have similar stats to you-- 717 EQ9, 120 day late from 4 years ago, 65k income-- and got approved for the Penfed Promise for $10k after sending in POI just last week. However, I do have other high limit cards. It seems like Penfed doesn't want to be your highest... Also, out of everything in my wallet, Discover is by far my favorite and you can grow a Discover with soft pulls   

[Caught750]

Absolutely, Discover is definitely my favorite. I'm at about 78 days and considering asking for a CLI. I know they say 90 and I did ask too early and was told that was the only reason I didn't get it. I've read about alot of people getting them in this time frame though. Is it bad to ask early again?

[Anonymous]

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@Caught750wrote:
As not to hijack someone else's post I figured I'd write about my own PenFed experience thus far...

After reading so much on here about Penfed I decided to apply. My FICO 9 is 725 according to their documents (I show 717 here). EQ is incorrectly reporting an old baddie and refused to change it (they may be getting a fix this or remove it 609 FCRA and Jenkins Et. Al. V Equifax letter and dispute again but that's a different topic).

I got in and immediately applied for the PCR and Platinum Rewards cards. Both went to review and in about an hour the PCR was approved and the Platinum Rewards showed denied. The PCR only approved at 1k...seriously?! Discover gave me 2k right out of the gate with F8 scores.

I called and tried to recon, they didn't bother to listen, got nowhere, sent in survey and they didn't bother to call, emailed asking for a call from a LO got a generic reply. I'm not asking for much just please match Discover and give me room to use the card without micromanaging it every week.

Called today with questions about statement dates, reporting, blah blah, given wrong answers on everything until I spoke with a supervisor.

Does anyone have any suggestions? I don't want a second card with them right now, but this has been a horrible experience.

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You have a young credit profile and PenFed still gave you a higher limit than you have on most of your current cards. It also looks likely that you've gotten all of these cards recently. Slow down.

Manage PenFed and all of your other cards right, don't apply for anything else, and request a CLI at about 85 days (don't hit 90) and you will likely get a nice bump and no HP.

My first card 1 year ago went from $2k SL to $18,000 on day 85. They just approved me for a second card with a $7k SL.

[Meanmchine]

Cap1 QS $750 & QS1 $400/Discover IT $2k/Amex BCE $500 & PRG NPSL PenFed PCR $1K. Scores as of 2/2/18; Eq 655/Tu686/Ex670

Going from your sig, I dont see where you are so angry. Simply put, your file doesnt support a larger SL at this time. Penfed actually gave you your 2nd highest CL. Give it some time and let your TCL grow. Your EQ score is only in the Fair territory.