Chip Lupo, Credit Card Writer
You can request a PenFed Power Cash Rewards Visa Signature® Card credit limit increase online, through the PenFed mobile app, or by calling customer service at (800) 247-5626. To raise your chances of being approved for a higher credit limit, pay your bill on time for at least six straight months, reduce your outstanding debt, and update the income PenFed has on file. PenFed will be more likely to increase your credit limit if the revised income clearly shows that you can afford a higher limit.
How To Get a PenFed Power Cash Rewards Credit Limit Increase Online
- Log in to your online account or the PenFed mobile app.
- Choose the PenFed Power Cash Rewards card from the list of account options (if you have more than one PenFed card).
- Click “More account info and actions,” and then “Request a Credit Line Increase.”
- Enter the required information.
- Confirm the information entered and submit your request.
You should receive a decision in just a few seconds. If you’re approved for a PenFed Power Cash Rewards credit limit increase, the new limit is effective immediately.
Impact of a PenFed Power Cash Rewards Credit Limit Increase on Your Credit Score
When you request a PenFed Power Cash Rewards credit limit increase, PenFed will conduct a hard pull of your credit report, which will cause a short-term dip in your credit score. PenFed cannot do a hard pull without your permission, though.
Alternatively, you could be eligible for a PenFed Power Cash Rewards credit limit increase without even requesting one. The PenFed Power Cash Rewards card may offer an automatic credit limit increase if PenFed’s regular review of your account shows a history of on-time payments and low debt. An automatic credit limit increase involves a soft pull, which does not affect your credit score.
PenFed Power Cash Rewards Visa Signature® Card
People also ask
Did we answer your question?