I joined PenFed yesterday and after additional verification, I decided to apply for its Signature Visa Card. Initially, I was denied because of between open accounts and outstanding balances.
I decided to call to speak to someone in underwriting because I just paid pretty much ALL my revolving debt down and clearly it must just being one of Equifax's algorithm errors. After speaking with a rep that insisted that the credit denial was final, I requested to be transferred to the underwriting department.
After waiting several minutes, the gentleman returned to the line said that they received the documents from my identity verification, and the senior underwriting was able to approval my card for $5,000. This is my highest credit card to date, and I honestly have worked so hard bouncing back from financial ruin after the 2005-6 financial disaster. I pretty much lost everything, and I had to start all over again.
I take pride in keeping my credit intact, and I want to thank all the individuals on this forum, who have shared his or her personal journeys in which help guide me through my own.
I am going into the garden for a while, at least until the new 2015 Hyundai Genesis come out.
Starting Score: USAA EX 570 EQ 574 TU 603
@mowheat73 wrote:I joined PenFed yesterday and after additional verification, I decided to apply for its Signature Visa Card. Initially, I was denied because of between open accounts and outstanding balances.
I decided to call to speak to someone in underwriting because I just paid pretty much ALL my revolving debt down and clearly it must just being one of Equifax's algorithm errors. After speaking with a rep that insisted that the credit denial was final, I requested to be transferred to the underwriting department.
After waiting several minutes, the gentleman returned to the line said that they received the documents from my identity verification, and the senior underwriting was able to approval my card for $5,000. This is my highest credit card to date, and I honestly have worked so hard bouncing back from financial ruin after the 2005-6 financial disaster. I pretty much lost everything, and I had to start all over again.
I take pride in keeping my credit intact, and I want to thank all the individuals on this forum, who have shared his or her personal journeys in which help guide me through my own.
I am going into the garden for a while, at least until the new 2015 Hyundai Genesis come out.
Congrats 
That's great news, congratulations!
@mowheat73 wrote:I joined PenFed yesterday and after additional verification, I decided to apply for its Signature Visa Card. Initially, I was denied because of between open accounts and outstanding balances.
I decided to call to speak to someone in underwriting because I just paid pretty much ALL my revolving debt down and clearly it must just being one of Equifax's algorithm errors. After speaking with a rep that insisted that the credit denial was final, I requested to be transferred to the underwriting department.
After waiting several minutes, the gentleman returned to the line said that they received the documents from my identity verification, and the senior underwriting was able to approval my card for $5,000. This is my highest credit card to date, and I honestly have worked so hard bouncing back from financial ruin after the 2005-6 financial disaster. I pretty much lost everything, and I had to start all over again.
I take pride in keeping my credit intact, and I want to thank all the individuals on this forum, who have shared his or her personal journeys in which help guide me through my own.
I am going into the garden for a while, at least until the new 2015 Hyundai Genesis come out.
Congrats and welcome to the PenFed family
congrats
Yes, my Equifax went up slightly to 709. However, I did have a lot of inquiries, and I thought that would have been the reason for denial.
It feels good that a bank will say yes, after so many no's!
