Penfed Promise

[baller4life]

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@SecretAzure wrote:

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@baller4life wrote:
Yep!! Be sure to grab the PLOC as well. Up to $25k.

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You can get a PLOC from the same HP? That's pretty crazy. That's a way into mixed credit types (which I lack right now).

So many cards there seem good, how do you decide?

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YES that's one of the things that makes joining Penfed so sweet. Your initial hp for membership can be used for 90 days for ANY product they offer. They have several great cards. All depends on your needs. I also like 5% gas cash back card.

[SecretAzure]

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@baller4life wrote:

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@SecretAzure wrote:

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@baller4life wrote:
Yep!! Be sure to grab the PLOC as well. Up to $25k.

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You can get a PLOC from the same HP? That's pretty crazy. That's a way into mixed credit types (which I lack right now).

So many cards there seem good, how do you decide?

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YES that's one of the things that makes joining Penfed so sweet. Your initial hp for membership can be used for 90 days for ANY product they offer. They have several great cards. All depends on your needs. I also like 5% gas cash back card.

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Can't find the 5% cashback on gas card. Platinum seems nice...I suppose. 

[baller4life]

https://www.penfed.org/platinum-cash-rewards/

[SecretAzure]

Oh Baller...you're always giving me options and complicating my life. I now sleep and dream of credit card success. I am obsessive to this extent. Either way, I must wait until October (at least) before jumping into a new card.

[baller4life]

Secret isn't your EQ clean right now? Tell me again why you are waiting. I know your inqs are low and you have very few new accounts. Sooooooo,ijs.

[SecretAzure]

As of this past weekend I have a HP Inq on TU and Equifax, but mostly I'm waiting until Oct because my AAOA is low. (By October it'l be about 2 yrs average). Also, TU isn't reporting my Ring card yet and an extra $8,500 looks nicer to creditors.

[baller4life]

Ok. Wow I'm surprised Ring isn't reporting yet. Barclays is usually super fast.

[SecretAzure]

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@baller4life wrote:
Ok. Wow I'm surprised Ring isn't reporting yet. Barclays is usually super fast.

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Don't scare me now...I hope I don't get a denial letter instead of a card!!

[baller4life]

Haha you got the card!!! Fuggedaboutit!

[core]

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@chalupaman wrote:

I wish you the best of luck if you go for this card in a few months. I have a Penfed membership but got the whole Egyptian reason for denials before from them.

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I have been labeled an Egyptian by companies before (although not Penfed specifically) having zero new accounts in the last 6 months, only 1 INQ, and 0.1% util.  So unless somebody has some hard data right from a CSR, I'm not sure I'd put too much stock in 6 months being the key.  The one time I called to question it the woman said something about having lots of accounts but not using them.  I don't know how you'd be pyramiding without having any balances!  And rack up balances and they'd just deny you for that.  Damned if you do, damned if you don't.

I think it's all just an excuse for a potentially unprofitable customer.