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PenFed Disbursed?

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karbon86
Valued Member

PenFed Disbursed?

I joined PenFed on Monday going through the whole simple process of joining the NMFA.  Right away I applied for the Visa Platinum Cash Rewards card with a limit of 20K.  It went pending and was denied on Tuesday.  no "more info" or comments given.  So I applied again right after I saw it was denied and I was instanly approved at my asking amount of 5K.  Also without asking like others have mentioned I was pre-approved for a 35K 60mo auto loan at 4.75% that I declined (I have a nice car that is paid off).

 

Anyways after listing the 5K application as approved it went to the Disbursed status today when I logged in.  How long does it take from the Disbursed status until the account shows up on my main page?  I want to request a CLI to 10K but I believe I need the account to show up first. I don't see anywhere to request the CLI like people mention you can do online with PenFed.  I really don't feel like calling them after asking originally for 20K Smiley Tongue 

Message 1 of 16
15 REPLIES 15
Anonymous
Not applicable

Re: PenFed Disbursed?

It happened fairly quickly for me. It showed up within 3-5 days after it was disbursed. The account was showing up online, before the card even arrived in the mail.Smiley Happy
Message 2 of 16
karbon86
Valued Member

Re: PenFed Disbursed?

Ahh ok.  I'm just use to everything being instant like when my AMEX blue cash was opened the account with the limit was posted right away.
Message 3 of 16
haulingthescoreup
Moderator Emerita

Re: PenFed Disbursed?

PenFed is great, but their website is... umm... lacking.

The balance won't show up on the main screen with your mandatory savings account and other stuff you might get. (My auto loan shows here.) You have to slide down to the bottom left and click "View Credit Cards." A separate screen opens up, listing your other accounts (again) and the CC.

And paying on their site is a trip and a half. If you're going to pay that way, as opposed to from your online bank site, feel free to holler when the time comes. It's not exactly intuitive!
* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007
Message 4 of 16
karbon86
Valued Member

Re: PenFed Disbursed?

Yeah I know about having to select the link for it to show up.  Also I pay with my bank's billpay.  I am a software engineer and have spent some time in interface design and usability.  The site makes me want to puke. 
Message 5 of 16
jmbfl
Valued Contributor

Re: PenFed Disbursed?

Hold tight - the site is being massively changed in January!

 

Once your app goes to disbursed you should have your plastic in about a week.

 

Under PenFed's revised credit guidelines $20K on first request may have been a little ambitious.

Message 6 of 16
karbon86
Valued Member

Re: PenFed Disbursed?

That is good news that the site will be updated next month!  I know 20K was a little much to ask for since I really only have 3 years of credit history but I have always been treated well with anything I have applied for so i figured why not.  I still get the card instantly once I re-apped for 5K which is good.  I was going to send a recon letter to ask for a 5K limit but i just re-apped and it was instant.  The account is showing as of this morning on my main page which is nice.  It only took 24 hours from the disbursed status to show up.  Time to try for the CLI.  If I get it to 10K my total credit available to me would almost be 40K between my AMEX and my two BOA cards(one was an old MBNA that converted over). 
Message 7 of 16
karbon86
Valued Member

Re: PenFed Disbursed?

Thanks for the help guys.  I went through once the account was showing up and applied for an increase to $10,000 and it was approved instantly.  This was fun playing the find my limit game with penfed. Smiley Very Happy  I'm feeling lucky and will do 15,000 after 60 days and see what happens.  At least I won't hurt since it won't cost me an inq.  This could replace my AMEX Blue Cash for my go to card since the cashback % starts at dollar $0.  I love cashback since I PIF.  AMEX will owe me around $200+ for this year when I get my cashback.
Message Edited by karbon86 on 12-18-2008 10:27 AM
Message 8 of 16
haulingthescoreup
Moderator Emerita

Re: PenFed Disbursed?

If you're a PIF'er, you absolutely can't beat this card. There are very few cases when one of my other rewards cards can beat the 5% / 2% / 1.25% structure. And the other rewards cards keep changing around (think Chase Freedom and Freedom Plus), but so far, so good.

Congrats on your new limit. I got a CLI online at somewhere around 2 months, and they auto'd me to $20.3 K around 6 months later. Amazing!
* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007
Message 9 of 16
Creditaddict
Legendary Contributor

Re: PenFed Disbursed?

Is there a number to talk to credit personally??
Message 10 of 16
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