$12,500 Approval With Penfed Credit Union & Fresh Data Points

In this video I cover some fresh approvals from Penfed and more data from Penfed reps

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#creditcards #walletmonkey #penfed

[rkefacebook]

I just applied and was approved for the PenFed Visa - Power Cash Rewards Signature credit card. I am shocked that the limit issued to me with this card is $25, 000. My current credit score is in the 720s. Income is $75K. Credit utilization is 1%. Also, I opened a savings account a year ago and have a current balance of just a little over $5, 000 (I've been depositing money into this account once a month). After watching this video, I expected the limit on the new card to be between $7, 500 and $12, 500. Go figure. However, technically I have only received the online approval message for the $25, 000 limit. I'll have to wait to see whether that amount ends up being the final limit at the time the card is finally issued. After reading Byron Jefferey's comments, I am skeptical about having received this unusually high credit limit for a new card.

[docsays]

similar data points as you mentioned in this vid. i joined penfed last summer. opened checking & HY savings with them & made mthly deposits. Received pre-approval offer on the gold card in dec. applied in feb & was approved for $7.5k.

My dps:
mid 720s EQ
$200k+ available credit
less than 10% utilization
+20yr credit history

will apply for another card & CLI in 6 mths.

[mace]

So a little update, I got the cash card 15k after a year membership with 5 dollars, prequalified offer on email, 90 days later email for platinum reward 8k, 40 inquiries at the time, so today 5/3/23, I applied for a prequalify personal loan from email, offer was 5k for 17.9 percent, called in to complain that my Usaa rate advantage was a better rate for 5k, while on the phone they offered and gave me 15 months no interest on a new gold card 12.5k.

[ridleyjoseph]

Thanks been grooming Penfed for a couple months now !

[ImStillStealingSteel]

I do love PenFed. Been with them since Aug 2020 :) I have 2 cards with them, both with $10k limits :) I really really wanna get a PLOC with them. But yeah, Im not sure when they’ll bring that back. Love ur PenFed vidz ❤❤❤

[inyang]

Got $10K yesterday, mid 700s Fico. Also they pull from Fico 9 btw.

[albertcastro]

I got approved for the same amount ! Nice 👍

[quiles]

i have penfed over a year also have direct deposit of my social security and also my veteran pension. my fico score with them is 724 should i apply for a credit card.

[WalletMonkeys]

Lots of great datapoints in the comments section, please take a minute and look through!

[dimitruscherry]

Penfed is cool, but their lack of business accounts is a drawback… too much personal credit can be a bad thing to investors… any suggestions on business credit plays to go after ?

[princeg]

Once you get the card and the convenience check how do you liquidate. Do you write the check to yourself?

[ashleyc]

I always come on youtube for these types of videos. I like to view the most current, I came up on yours and I am glad I did so. I have been having difficulties for a long while trying to get approved for CCs PERIOD. It has been extremely a though journey. I'm here to say THANK YOU for your video it help convinced me to apply. After recently getting denied by NavyFed for a credit increase. My current CS Equifax 658 with 0 INQUIRES i was giving a 2500 limit! Im so glad my credit is making progress. If their is anyone that has credit issues and want to move forward, my advice is to call the creditors PAY or SETTLE your debt. 🙌🙌🙌🙌🙌🙌🙌🙌

[bilalhakeem]

Hi applied for pen fed gold visa respond was being reviewed with in 48 hrs for answer what does that mean? a member since July of 2022 have ck&saving and $500.line credit with pen fed any suggestions thanks

[sensi]

I have 20k on power rewards and 16k on gold..

[marioedwin]

trying to figure out how I want to use my convenience checks, right now. but I dont want to blow my utilization on the card

[trayonreel]

They now have the pre-qualification app!

[arnopetersoneshotbbq]

Is a PenFed credit card mail invitation a sure gaurantee

[Thatruth]

Do you think it’s best to go in the branch and apply for everything?

[edwardg]

Just got approved for 2.5 k fico 687, 6 hp. My application was pending for like 30 min then got approved. I have a savings and checking for 2 weeks both less the $100 each

[DarkDude-iuxd]

Will they hit you with a HP for a CL increase after getting approved for a Personal loan last week?