No credit card required
Browse credit cards from a variety of issuers to see if there's a better card for you.
Hi All,
I am currently evaluating all of my banking relationships. I am at a point where I have banking products spread across multiple financial institutions. My goal is to whittle my relationships down to two banks.
It is my intent to remain with BofA where I have a good chunk of my deposit and investment accounts. I am considering a credit union as a secondary banking option; primarily to compensate for products not offered by BofA (e.g. unsecured line of credit).
Does anyone have experience with obtaining a line of credit from PenFed?
Thanks.
@TrueGeminiNC wrote:Hi All,
I am currently evaluating all of my banking relationships. I am at a point where I have banking products spread across multiple financial institutions. My goal is to whittle my relationships down to two banks.
It is my intent to remain with BofA where I have a good chunk of my deposit and investment accounts. I am considering a credit union as a secondary banking option; primarily to compensate for products not offered by BofA (e.g. unsecured line of credit).
Does anyone have experience with obtaining a line of credit from PenFed?
Thanks.
Yes I have personal lines of credit with Penfed as well as with other institutions.
It's all been good.
I have the max $25K LOC that they offer and it was a very easy process to get it. Additionally they recently sent me a preapproval for a $25K personal loan. This is in addition to several other credit products that I have with them. If your credit is in order, PenFed can be fantastic
@Anonymous wrote:I have the max $25K LOC that they offer and it was a very easy process to get it. Additionally they recently sent me a preapproval for a $25K personal loan. This is in addition to several other credit products that I have with them. If your credit is in order, PenFed can be fantastic
Thanks for sharing. I received a 23K personal loan, 5K line of credit and 5K credit card. This is amazing - all with only 1 inquiry!
I wanted to ask for more on the LOC, however I read here that PenFed does not counter. I will give it 6 months and then try to bump both the credit card and line of credit up to 10K.
I am looking forward to a great banking relationship.
@Anonymous wrote:I have the max $25K LOC that they offer and it was a very easy process to get it. Additionally they recently sent me a preapproval for a $25K personal loan. This is in addition to several other credit products that I have with them. If your credit is in order, PenFed can be fantastic
I got one of these last week too. The only credit i have with them is the Cash Rewards Visa. I also never see any "offers" when I log on the their portal.