PenFed Power Cash Rewards $15K SL - Approved!

8 months ago

Wed Jan 10, 2024 3:07 pm

Cassie

DeveloperLoves long talks on the beach

Cassie has been gardening for over 2 years.

Level54 Last INQFriday, February 14, 2020 Gardening For4 years, 6 months, 24 days, 20 hours, and 41 minutes Next Level in6 days, 3 hours, and 19 minutes on September 14th INQ 1yr onSunday, February 14, 2021 INQ 1yr reached3 years, 6 months, 24 days, 20 hours, and 41 minutes ago INQ 2yr onMonday, February 14, 2022 INQ 2yr reached2 years, 6 months, 24 days, 20 hours, and 41 minutes ago

CreditAggie wrote: ↑Wed Jan 10, 2024 2:18 pm Now it's REALLY time to go back to the garden!

It's getting insane. LOL CONGRATULATIONS!

TU8 799/EX8 786/EQ8 805 EQ5 770/EX2 757 8/18/2023

8 months ago

Wed Jan 10, 2024 11:59 pm

Saeren

Rebel Administrator

Recent HP or new account.

Level0 Last INQFriday, August 23, 2024 Gardening For15 days, 20 hours, and 41 minutes Next Level in15 days, 3 hours, and 19 minutes on September 23rd INQ 1yr onSaturday, August 23, 2025 INQ 1yr in11 months, 15 days, 3 hours, and 19 minutes INQ 2yr onSunday, August 23, 2026 INQ 2yr in1 year, 11 months, 15 days, 3 hours, and 19 minutes Goal6 months Goal DateSunday, February 23, 2025 Goal In5 months, 15 days, 3 hours, and 19 minutes

Congrats! $15K is nothing to sneeze at and it's a great 2% catch all too!

8 months ago

Mon Jan 22, 2024 3:39 am

NoMoneyNoHoney

Seasoned RebelNeed BTC card

NoMoneyNoHoney has passed the 12 month threshold!
No scorable inquiries on file!

Level20 Last INQSunday, January 1, 2023 Gardening For1 year, 8 months, 6 days, 20 hours, and 41 minutes Next Level in23 days, 3 hours, and 19 minutes on October 1st INQ 1yr onMonday, January 1, 2024 INQ 1yr reached8 months, 6 days, 20 hours, and 41 minutes ago INQ 2yr onWednesday, January 1, 2025 INQ 2yr in3 months, 24 days, 3 hours, and 19 minutes

CreditAggie wrote: ↑Wed Jan 10, 2024 2:18 pm Hello again Rebels, After yesterday's massive BofA Premium Rewards approval, I determined that I have enough planned spend coming up for a second SUB, so I thought now would be a good time to app for another card. I decided this time to app for the PenFed PCR. I thought it would be a good CU card to have for lender diversity and as a fallback to the BofA card. I first did the pre-qualification and it came back as prequalified with a $15,000 SL. I followed through with the application and: [Quoted post had an image here.] I was instantly approved with the same prequalified $15,000 SL! DPs: EQ pull: 778 FICO 9 0/12 new accounts Reported income: $40K 3 year banking relationship with PenFed (checking and savings) No HPs on EQ prior to app Now it's REALLY time to go back to the garden!

Surprised you got such a high starting credit line for reporting $40K annual income. Curious, did PenFed ask you to submit any income verfication like paystubs? Also, did you you have direct deposit set up or just transfer money via ACH into the account you had for 3 years? Thanks!

8 months ago

Mon Jan 22, 2024 7:53 pm

mgood

Seasoned Rebel

Level3 Last INQMonday, May 13, 2024 Gardening For3 months, 25 days, 20 hours, and 41 minutes Next Level in5 days, 3 hours, and 19 minutes on September 13th INQ 1yr onTuesday, May 13, 2025 INQ 1yr in8 months, 5 days, 3 hours, and 19 minutes INQ 2yr onWednesday, May 13, 2026 INQ 2yr in1 year, 8 months, 5 days, 3 hours, and 19 minutes Goal12 months Goal DateTuesday, May 13, 2025 Goal In8 months, 5 days, 3 hours, and 19 minutes

Congrats! That's a great 2% card (if you're an Honors Advantage member, and if you're not, I'd look into it ASAP).
Solid SL!
PenFed has been very good to me.

8 months ago

Mon Jan 22, 2024 8:11 pm

mgood

Seasoned Rebel

Level3 Last INQMonday, May 13, 2024 Gardening For3 months, 25 days, 20 hours, and 41 minutes Next Level in5 days, 3 hours, and 19 minutes on September 13th INQ 1yr onTuesday, May 13, 2025 INQ 1yr in8 months, 5 days, 3 hours, and 19 minutes INQ 2yr onWednesday, May 13, 2026 INQ 2yr in1 year, 8 months, 5 days, 3 hours, and 19 minutes Goal12 months Goal DateTuesday, May 13, 2025 Goal In8 months, 5 days, 3 hours, and 19 minutes

NoMoneyNoHoney wrote: ↑Mon Jan 22, 2024 3:39 am Curious, did PenFed ask you to submit any income verfication like paystubs? Also, did you you have direct deposit set up or just transfer money via ACH into the account you had for 3 years? Thanks!

I know you weren't asking me, but I got the Platinum and the Power Cash Rewards about a week apart, so I could get both on one HP. Platinum was insta-approved for $5k. (That was a very, very good SL for me at the time. The only CL I had that was bigger was on a Kay Jewelers store card.) PCR went to review. They asked me to submit last two pay stubs as POI. And that one was approved for another $5k. Trying to remember what my income was at that time, I'm thinking maybe $50k. A short time later I opened an Access America checking account and started direct deposit of $500 every other week (minimum is $500/month) to turn that 1.5% PCR into a 2% PCR.

8 months ago

Mon Jan 22, 2024 11:37 pm

CreditAggie

Seasoned RebelSoft pull CLIs for the win

Level7 Last INQWednesday, January 10, 2024 Gardening For7 months, 28 days, 20 hours, and 41 minutes Next Level in2 days, 3 hours, and 19 minutes on September 10th INQ 1yr onFriday, January 10, 2025 INQ 1yr in4 months, 2 days, 3 hours, and 19 minutes INQ 2yr onSaturday, January 10, 2026 INQ 2yr in1 year, 4 months, 2 days, 3 hours, and 19 minutes Goal12 months Goal DateFriday, January 10, 2025 Goal In4 months, 2 days, 3 hours, and 19 minutes

NoMoneyNoHoney wrote: ↑Mon Jan 22, 2024 3:39 am
CreditAggie wrote: ↑Wed Jan 10, 2024 2:18 pm Hello again Rebels, After yesterday's massive BofA Premium Rewards approval, I determined that I have enough planned spend coming up for a second SUB, so I thought now would be a good time to app for another card. I decided this time to app for the PenFed PCR. I thought it would be a good CU card to have for lender diversity and as a fallback to the BofA card. I first did the pre-qualification and it came back as prequalified with a $15,000 SL. I followed through with the application and: [Quoted post had an image here.] I was instantly approved with the same prequalified $15,000 SL! DPs: EQ pull: 778 FICO 9 0/12 new accounts Reported income: $40K 3 year banking relationship with PenFed (checking and savings) No HPs on EQ prior to app Now it's REALLY time to go back to the garden!
Surprised you got such a high starting credit line for reporting $40K annual income. Curious, did PenFed ask you to submit any income verfication like paystubs? Also, did you you have direct deposit set up or just transfer money via ACH into the account you had for 3 years? Thanks!

Approval was instant - there was no POI. I occasionally make ACH transfers into it to transfer to my high-yield savings but didn't have direct deposit with them at the time. I did recently get a $75 offer for two months of direct deposits of $500 so they will be getting some of my next paychecks.

TU8 799/EX8 786/EQ8 805 EQ5 770/EX2 757 8/18/2023

8 months ago

Tue Jan 23, 2024 1:50 am

Saeren

Rebel Administrator

Recent HP or new account.

Level0 Last INQFriday, August 23, 2024 Gardening For15 days, 20 hours, and 41 minutes Next Level in15 days, 3 hours, and 19 minutes on September 23rd INQ 1yr onSaturday, August 23, 2025 INQ 1yr in11 months, 15 days, 3 hours, and 19 minutes INQ 2yr onSunday, August 23, 2026 INQ 2yr in1 year, 11 months, 15 days, 3 hours, and 19 minutes Goal6 months Goal DateSunday, February 23, 2025 Goal In5 months, 15 days, 3 hours, and 19 minutes

NoMoneyNoHoney wrote: ↑Mon Jan 22, 2024 3:39 am
CreditAggie wrote: ↑Wed Jan 10, 2024 2:18 pm Hello again Rebels, After yesterday's massive BofA Premium Rewards approval, I determined that I have enough planned spend coming up for a second SUB, so I thought now would be a good time to app for another card. I decided this time to app for the PenFed PCR. I thought it would be a good CU card to have for lender diversity and as a fallback to the BofA card. I first did the pre-qualification and it came back as prequalified with a $15,000 SL. I followed through with the application and: [Quoted post had an image here.] I was instantly approved with the same prequalified $15,000 SL! DPs: EQ pull: 778 FICO 9 0/12 new accounts Reported income: $40K 3 year banking relationship with PenFed (checking and savings) No HPs on EQ prior to app Now it's REALLY time to go back to the garden!
Surprised you got such a high starting credit line for reporting $40K annual income. Curious, did PenFed ask you to submit any income verfication like paystubs? Also, did you you have direct deposit set up or just transfer money via ACH into the account you had for 3 years? Thanks!

I got $25K with $21K income and no POI. All I did was open up a savings account with the minimum $5 and wait 6 months. My results are not normal but PenFed doesn't always request POI, sometimes they do. If you don't wait the 6 months you normally can't get more than a $10K limit as well.