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  1. It will cut about 5% APR over 30 months. My AAoA is already somewhat low to begin with, ~2 yrs with 15yr oldest. I was considering the PenFed offer to pay off a higher interest loan, and also to set some funds aside for a pending security deposit in a couple months. I was going to use the security deposit that get back from my current place to pay down the principle. My cards are okay. I'm at ~10% util and I PIF all except one that's currently in a 0% SUB until late 2021. I was just curious about the actual process of attaining a loan via convenience check through PenFed. I've never seen this before, and I find it strange to be offered something like this with a relatively large limit.
  2. Has anyone had any experience using taking up this offer? Was it painless? Hp/sp? I received a 2-page mailer from them. The application is no more than a convenience check, with an extra box where you check-off the monthly terms desired. I'm slightly considering taking them up on this offer to consolidate higher interest debt, but I'm a bit weary of doing so. I'm concerned that if I try to deposit this at my bank, they'll just look and laugh. Or they'll take it, and the check wont be honored and all that fun stuff that comes along with it.
  3. My trade line recently appeared unannounced this month, after having been hidden for the whole year. It’s reporting to Exp as revolving credit. I’m not sure if the sudden reporting was triggered by a CLI from a few weeks ago or by approaching 30% util. Or maybe it’s just coincidence. I’ve never been late and have been making good use of the 0% APR for 6months offer. Whats weird is that I didn’t get any alerts from Experian nor Credit Karma of a new account being added.
  4. Thanks. I do remember seeing that thread a few months ago. I suppose I didn’t look far back enough in my search.
  5. I’ve had this account for over a year and the tradeline only now showed up. Just wanted to semi-vent i guess.
  6. So when did this start? Is it just because I got close to 30%? Sorry if I missed the post.
  7. Netflix, Hulu, and monthly train pass go to a Wells Fargo Propel as it gets 3X points. Natural gas, internet, cell phone, storage, other misc. monthly subscriptions go to a 2% cash back. Everything else goes to Amex for anywhere from 1.2X-4X points. I haven’t used the old debit card ever since I’ve been back in the unsecured game. I had a scare a few years back when my PayPal business debit got compromised for several hundred worth in fraudulent charges. It was linked to my bank checking account. I got lucky with timing. I noticed it early and was able to catch some of the ACH transactions before they went through. Luckily it wasn’t the end of the month when rent was due.
  8. Sorry if this has been covered already, but what income range and DTI is ideal for being able to ask for these types of limits?
  9. This also happened to me with PenFed. I’m assuming the challenge is figuring out the closing date.
  10. This is actually how I treated my Amex Everyday card. It was a toy CL (it actually still is) but I was just happy they let me in. It wasn’t uncommon for me to make 4-5 payments during the cycle to keep my util down. A few months later, I got an auto CLI after they denied my first two requests. Even after the CLI, I still kept the same habits, but just doubled the use. Soon after, they offered me the Gold Card. Go figure.
  11. Thanks. This is the first time I’ve had a card of this caliber and wanted to make sure I treated it right from the get go. Is it true that these things don’t have a limit? I really hate that feeling when your card comes back, only to find out your bank has an itchy trigger finger.
  12. So an Amex Gold arrived in the mail today. This is my first time having a charge card. How does it work? I’ve read that you don't carry a balance etc. But how does it work in terms of due dates, and statement dates, statement balance etc.? Is it like if I were to use one of my normal cards that I pay in full each time? And should I be concerned about what my first purchase should be?
  13. I’m also one if these. Maybe not everyday, but often.
  14. Okay. Thanks for the clarification. Would my best course of action, at this point, be to wait for any correspondence from them stating which account they are collecting on? And if it’s an account that is past SOL, would the inquiry still be considered permissible?

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