cancel
Showing results for 
Search instead for 
Did you mean: 

When is enough enough?

Estimate your FICO® Score range for free

FICO® Score Estimator

Auto Loans for ANY Credit Situation. Immediate Response.
Advertiser disclosure

When is enough enough?

I recently gained membership to PenFed and got approved for their PLOC. Since they use the same HP they pulled for membership for CC applications within 30 days, I'm wondering if I should pull the trigger on applying to take full advantage of said HP.

 

I don't necessarily need a new card and it likely won't be my daily driver once I've achieved SUB requirements, however, the opportunity to potentially increase my available credit by $25k and decrease my util for "free" is enticing.

 

 

What are your thoughts? Would you ever deny yourself the opportunity to gain a high SL card? Thanks in advance for any input!


Message 1 of 7
6 REPLIES 6
Regular Contributor

Re: When is enough enough?


@GiveMeSumCredit wrote:

I recently gained membership to PenFed and got approved for their PLOC. Since they use the same HP they pulled for membership for CC applications within 30 days, I'm wondering if I should pull the trigger on applying to take full advantage of said HP.

 

I don't necessarily need a new card and it likely won't be my daily driver once I've achieved SUB requirements, however, the opportunity to potentially increase my available credit by $25k and decrease my util for "free" is enticing.

 

What are your thoughts? Would you ever deny yourself the opportunity to gain a high SL card? Thanks in advance for any input!


It's not a guarantee that Penfed will use the same hard pull for the credit card application.  You should probably assume that anytime you apply for credit, a hard pull could occur, it's definitely YMMV.  Not sure if you've read lately that Penfed is tightening up and getting to be more conservative...they aren't handing out $25K starting limits as a norm anymore.  Good luck if you decide to pull the trigger.

Message 2 of 7
Valued Contributor

Re: When is enough enough?


@ChessChik47 wrote:

@GiveMeSumCredit wrote:

I recently gained membership to PenFed and got approved for their PLOC. Since they use the same HP they pulled for membership for CC applications within 30 days, I'm wondering if I should pull the trigger on applying to take full advantage of said HP.

 

I don't necessarily need a new card and it likely won't be my daily driver once I've achieved SUB requirements, however, the opportunity to potentially increase my available credit by $25k and decrease my util for "free" is enticing.

 

What are your thoughts? Would you ever deny yourself the opportunity to gain a high SL card? Thanks in advance for any input!


It's not a guarantee that Penfed will use the same hard pull for the credit card application.  You should probably assume that anytime you apply for credit, a hard pull could occur, it's definitely YMMV.  Not sure if you've read lately that Penfed is tightening up and getting to be more conservative...they aren't handing out $25K starting limits as a norm anymore.  Good luck if you decide to pull the trigger.


+1 about the SL. From what I've what on this forum--most new members only get $10k max on a new card unless they receive a pre-approved offer for a different amount.

BUSINESS
Rewards Pts.-Miles: UR-MR-TYP-Venture
Message 3 of 7
Moderator Emeritus

Re: When is enough enough?

Oops I misread.

I generally don’t suggest applying for utilization padding except strategically if you have debt and you are trying to FICO open room to refinance it down or similar.

For those not in that situation frankly eventually you will wind up with outsized limits over time anyway if you are like 99% of the people on this forum, would suggest there isn’t much use for a frivolous tradeline.

Though recently even I have picked up a few SUB’s, mostly cause I could and I don’t think they will be around all that much longer.



        
Message 4 of 7

Re: When is enough enough?


@ChessChik47 wrote:

@GiveMeSumCredit wrote:

I recently gained membership to PenFed and got approved for their PLOC. Since they use the same HP they pulled for membership for CC applications within 30 days, I'm wondering if I should pull the trigger on applying to take full advantage of said HP.

 

I don't necessarily need a new card and it likely won't be my daily driver once I've achieved SUB requirements, however, the opportunity to potentially increase my available credit by $25k and decrease my util for "free" is enticing.

 

What are your thoughts? Would you ever deny yourself the opportunity to gain a high SL card? Thanks in advance for any input!


It's not a guarantee that Penfed will use the same hard pull for the credit card application.  You should probably assume that anytime you apply for credit, a hard pull could occur, it's definitely YMMV.  Not sure if you've read lately that Penfed is tightening up and getting to be more conservative...they aren't handing out $25K starting limits as a norm anymore.  Good luck if you decide to pull the trigger.


That's great advice. I just needed one good reason to be talked out of it! Lol Thanks again!


Message 5 of 7
Contributor

Re: When is enough enough?

Sounds like all the angels on your left shoulder have spoken...so here I come as a devil on your right shoulder!

If they re-use that recent pull, you could score the pendfed card with no AF and free global entry pass! Nifty thing to have in your pocket if you ever decide to travel internationally!


Good luck deciding now! Smiley Very Happy
Message 6 of 7

Re: When is enough enough?


@Rebuilt wrote:
Sounds like all the angels on your left shoulder have spoken...so here I come as a devil on your right shoulder!

If they re-use that recent pull, you could score the pendfed card with no AF and free global entry pass! Nifty thing to have in your pocket if you ever decide to travel internationally!


Good luck deciding now! Smiley Very Happy

Oh great, just when I thought I had laid this to rest! Haha I have a couple international trips in the near future and have been planning on scheduling a global entry interview. I think I'm gonna go for it! I'll post back here with the results. @Rebuilt if I get denied AND a hp, you owe me like 4 FICO points... with interest


Message 7 of 7
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.