PENFED SUB

[Jnbmom]

I am just wondering how Penfed's SUB rewards works. 

DH has the power rewards approved around 8/4/19 and the SUB was 100.00 statement credit if you spend 1500 in first 90 days, well we did spend that. Now does he have to wait until the 90 days hits before he will get the SUB?

Thanks

[DaveInAZ]

I was hoping someone with more recent experience would chime in - I did mine back in 2017, it was less than a month to get the SUB after the $1500 spend, only a week or two as I recall.

[AverageJoesCredit]

How can there be any recent experiences when all Penfed does is reject most of us?

[Jnbmom]

---

@DaveInAZ wrote:

I was hoping someone with more recent experience would chime in - I did mine back in 2017, it was less than a month to get the SUB after the $1500 spend, only a week or two as I recall.

---

@DaveInAZ 

Wow my bad, I just checked it and they did credit his account about week or 2 after the purchase.

@AverageJoesCredit 

Sorry AJC I know they are far from your favorites

[Aim_High]

---

@Jnbmom wrote:

I am just wondering how Penfed's SUB rewards works. 

DH has the power rewards approved around 8/4/19 and the SUB was 100.00 statement credit if you spend 1500 in first 90 days, well we did spend that. Now does he have to wait until the 90 days hits before he will get the SUB?

---

Not sure if I asked you this before, but did you or DH have accounts with PF before the card?  And what was the SL given, relative to other cards he held?  I had the impression they are conservative but give better limits to account holders.

[Jnbmom]

---

@Aim_High wrote:

---

@Jnbmom wrote:

I am just wondering how Penfed's SUB rewards works. 

DH has the power rewards approved around 8/4/19 and the SUB was 100.00 statement credit if you spend 1500 in first 90 days, well we did spend that. Now does he have to wait until the 90 days hits before he will get the SUB?

---

Not sure if I asked you this before, but did you or DH have accounts with PF before the card?  And what was the SL given, relative to other cards he held?  I had the impression they are conservative but give better limits to account holders.

---

@Aim_High 

We both opened PENFED savings accounts and a checking and immediately appliied for and were approved for the Gold cards (10K SLs) in 4/2018. I was able to pick up the promise card less than a month later for 10K SL as well, he was denied any second card and after a few tries we gave up. *** Note PENFED was one of our  highest starting lines at 10K at the time because our files were very thin.

This 8/2019 I noticed the wording changed on CLIs and credit apps that stated "household income" prior to this penfed would only take individual income ( atleast for us). So when I saw that wording I applied for increases, we both got 5K increases and we both picked up the Power rewards card for 15K sls.

If you need anything just let me know, I think that about sums up our experience so far.

[Aim_High]

---

@Jnbmom wrote:

---

---

@Aim_High 

We both opened PENFED savings accounts and a checking and immediately appliied for and were approved for the Gold cards (10K SLs) in 4/2018. I was able to pick up the promise card less than a month later for 10K SL as well, he was denied any second card and after a few tries we gave up. *** Note PENFED was one of our  highest starting lines at 10K at the time because our files were very thin.

This 8/2019 I noticed the wording changed on CLIs and credit apps that stated "household income" prior to this penfed would only take individual income ( atleast for us). So when I saw that wording I applied for increases, we both got 5K increases and we both picked up the Power rewards card for 15K sls.

If you need anything just let me know, I think that about sums up our experience so far.

---

No other questions right now but thanks again for those DPs! 

I still think that deposit accounts helps with almost any lender, regardless of whether people think they do or not.  I think as a general rule they increase chances of approval and possibly better SL and APR.  But that's just my opinion.

Power Cash is on my short list.