Just called Penfed for more information on this offer. Yes, it's only available to Platinum cardholders; however, I was told you can convert your existing account to Platinum with a simple form.
If you already have a Pentagon Federal credit card with at least a $5000 credit limit and wish to upgrade to either Visa Gold or Platinum, use these forms:
Head over here and look for the Credit Card Upgrade forms text. Download the appropriate form and fax or mail it back to them.
Note: Be sure to click either of the Visa Platinum Rewards links to pull down the pdf. One is for upgrading to Platinum while keeping your current CL, the other is for upgrading to Platinum and also increasing your CL.
Not sure how long it will take to process, but if the offer of 2.99% for life lasts through the end of May, those currently without a Platinum card might still be able to get this rate.
Anyone who's done this yet know if they do a hard pull? I'm at the tail end of an AOR, with my Penfed Gold being opened less than a year ago, so according to the rep, being under a year qualifies as utilizing the "upgrade" form. However, I was denied the 3.9% auto loan last month, due to DTI ratio from the AOR and don't want to take the chance of losing Penfed cc entirely if they think I'm desperate. ps. you should also note that if you use the "upgrade" function, it will close your existing account.
Anybody having an issue with joining the $20 NMFA Membership?
I thought it would have been an easy process!
Yep! You gotta select all fields on the app form. I think I used "civilian" and "self employed". They don't give you an option for civilian type jobs in the drop-down menu. I did mangage to get through it and receive membership but had to re-submit the form 3-4 times until it would take it.
I just joined penfed and I would like to apply for a platinum rewards, my fico is 690 and I have about 45% utilization, does it increase my chances of getting approved if I request a small credit line like 2000$ or 3000$ ? Thanks
I applied for the platinum rewards with $20K limit. The application is still in pending status with comment "ADDITIONAL INCOME TO CONSIDER". Seems clear enough, I e-mailed them and explained I would be happy with $15K to transfer a Chase balance. Fingers crossed.
Opinions please. Current scores on an average of 725 across all three CB's (used to be 790+ before AOR), no other debt besides mortgage. I would like to take advantage of this offer but do not want to spare/waste an inquiry just to be maybe denied. I'm a current member, no CC with them yet; is my situation good enough to be granted this offer? Thanks for the opinions.