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First question I got is Are airline tickets bought with Discover Card automatically covered with travel insurance? Many thanks for any answer. Second question of mine... Wait... I take that back. The $5.03 is in the savings. I don't even have a checking account with Penfed... |
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You betcha! but you might wanna make sure and wait for someone else to confirm my answer as I am unsure. Better yet, why don't you e-mail the Discover Card guys because they can give you help better...
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I joined Penfed in June06 - applied for membership(checking,savings,mm,cds), card and loc all on the same Inquiry. Have not once used the loc, (3.5 years now) and they continue to report. It reports as a line of credit.....
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The perfect strategy..
If my avg age of accounts wasn't so precarious (my own doing), I'd go for the LOC and thrifty credit service...maybe later this year or next. Right now, my infrequent apps should target selective rewards cards....like grabbing the Ameriprise WE, where the bennies outweigh the damage. Unused LOCs and such simply won't further my Mini-Me-esque credit world domination ambitions... |
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Has anyone checked, are they pulling softs before the preapprovals, or is it just Penfed basing it off of there own internal records? I just signed up for checking/savings, trying to figure out what I have to do to get the magic screen...
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I'm sure they base if off both internal hostory and their routine soft A/R pulls..
Did Penfed pull a hard to join? I'm not sure what their policy is on that now. But if they did pull a hard, they will use that same report for any apps over the next 30 days. (used to be 90 IIRC). As far as preapprovals go, many people don't see them pop up until they've been a member for about a year..... |
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Yep, I got a hard pull when I joined. Thats what I figured. Just wanted to get my foot in the door. And now the waiting begins....
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I've been a member for over 2 years without any pre-approvals yet.....
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Unless they changed their policy, you could apply for the card, loc etc with no additional hard.....
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They havent changed their policy. I had them use the same hard for the gas CC. Still pending approval at the moment. Not getting my hopes up though, with a mid 600 fico...
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How do you know if you have the 9 day hold checking account? I havent gotten any paperwork yet. Online it just says "Complete Access Checking"..
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I received this offer too. Will this be an inquiry on the credit reports?..
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Not if the offer is in your set of pre-approvals. ie under "you're approved!"..
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I just checked online. It's now showing. Full amount offered..
For the record, no new inq. It's also not reporting yet.. Penfed can be frustrating to get in with, but once you are, I think they are worth it.. Something to aim for... |
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No NEW hard? Pre-approved "approval" requires no pull? Wow, that is earth-shattering! I always thought pre-approvals would still require a fresh pull. My app fingers are trembling. Maybe I should try to take advantage of the offer soon! Are there more encouragers, in the house?..
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Of course you should. If you need what they are offering..
Penfed pre-approvals are sorta special... |
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Yes indeed, I just had offers added to my login at penfed. Trying to figure out what offer to snatch up assuming it's a free "no-hard" credit...
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For most lenders that is true - you are not really pre-approved, only pre-approved to apply. However if you receive these offers upon signin from penfed, you really are pre-approved..
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For anyone who's interested in how it reports on CCT, here you go (BTW, whats up with EQ? I wish this was open that long!).
This post has been edited by. Clutchcargo. : 06 January 2010 - 06:08 PM.. |
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Interesting side note, I was talking to a Penfed CSR last night about this account. She said If I wanted.
To I could re-allocate the CL to my cash rewards card. Might be a sneaky way to get a CLI before my card. Is a year old. And without a hard.. I told her I would think about it... |
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The reason I'm asking b/c I thought the limit was 50k on the CCs. But I believe there are CB members who have 50k on CCs and 25k PLOC. Is this a way to get around the 50k limit? I'm sure they'll find away to stop it if it broke the 50k limit..
This post has been edited by. Shaft. : 08 January 2010 - 01:28 PM.. |
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I was wondering if the PLOC CL counted towards the 50k as well..
The only reason I can see to do this reallocation is to get a higher CL and hope that begats some more. From other lenders. The reason not to do this (as I see it) is if the PLOC line doesn't count towards the. 50k and/or because if I ever needed to revolve (think emergency) I would have a slightly better APR on. The PLOC.. |
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50K limit is the max for the card and 25K is the max for the loc. There is no way around it, I tried. I have the max on both(recently split my 50K evenly between 2 cards) They will not allow me to reallocate any or all of my loc to either card. 50K max on cards no matter what..
The reason I advise someone who hasn't reached the max to hold out for a CLI rather than reallocate is because Penfed will likely treat that as a CLI and thus the customer will wait even longer for an actual pre-approved increase(or through hard inq request) in overall limits..... |
