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WHAT?!?! Can PenFEd do this???

projectmp
New Member

Re: WHAT?!?! Can PenFEd do this???

Good point. I will call them tomorrow.
Message 11 of 15
O_G
Regular Contributor

Re: WHAT?!?! Can PenFEd do this???


@projectmp wrote:
Good point. I will call them tomorrow.

By the way -- and I am NOT saying this to be critical -- it is a good idea to study the policies and practices of each of your creditors or potential creditors.  It can not only save you time and aggravation in the future, but quite possibly save you from a wasted hard inquiry.    

Message 12 of 15
projectmp
New Member

Re: WHAT?!?! Can PenFEd do this???

Yes...I'm very grateful they gave me the opportunity to decide!

 
Spoke to a PenFed customer service representative 2 days ago and they reset my aggregate limit to $50,000 for both cards (Visa and AMEX) ... an even split between the two cards of $25,000 each.  For the $8000 that I would be losing, I asked them to add that amount to my existing Line of Credit with them (a long shot but I thought it was worth a shot).  This request was denied.  I still love PenFed.
Message 13 of 15
VPExecutive
Frequent Contributor

Re: WHAT?!?! Can PenFEd do this???

A lender can give you however much money they want and is under no legal obligation to keep the credit line they give you. I'm not even sure why that's a question. 

Message 14 of 15
CreditCuriosity
Moderator

Re: WHAT?!?! Can PenFEd do this???

OP has reported back and issues has been resolved.   Locking thread.

Message 15 of 15
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