When applying for the Penfed PLOC how is the limit determined? Do you request an amount and get a counteroffer if not approved...or is it like a a CC app where you just apply and the amount is purely determined by them at the time? Thanks
Just giving this a friendly bump as I think I am springing for Penfed sometime today. I will go for a CC first but when I got to the PLOC which I will also try I am seeking some input as to how/ what is appropriate to ask for. Does anyone go straight for the 25k max with an approval?
What are your scores and how does your credit profile look like? How much you get is based on your current limits. So tell us a bit about your credit profile and we can go from there.
Sometimes it is a good to take a conservative approach when trying a lender for the first time.
UTL is 2%. Total CL ~85k. Income 90k AAOA is over 13 years. EQ fico 8 is 826 as of a week ago. Right now I have 2 of 4 cards that have cut and reported at zero. CL's are from 10k , 18k, 25k, and 32k on my current cards
@Marcos8 wrote: UTL is 2%. Total CL ~85k. Income 90k AAOA is over 13 years. EQ fico 8 is 826 as of a week ago. Right now I have 2 of 4 cards that have cut and reported at zero. CL's are from 10k , 18k, 25k, and 32k on my current cards
Ask for the maximum. You have a good chance of getting approved.
@Marcos8 wrote: It's commonly accepted to do the CC app first right? ... then go immediately to the PloC app and go max?
You can do either as most people do CC first. Personally, I applied for the the PLOC first and then applied for the Penfed Promise after a week.. please update the thread with results once you apply...
