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danielodonoll
Posts: 401
Registered: ‎03-16-2013
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PenFed Update/Approved !!8k Recon/$8000 Final approval

[ Edited ]

I currently have a credit card and autoloan with penfed wich i opened 6 months ago

I went on the spree 4 days ago and requested a second card from Penfed-American Express card and was recomended for 8.5k

Now they asking for the paystubs.

 

Is this bad or is it looking like is going through?

Citi Bank X2/ 29k-USAA Amex/Mastercard 24k-PP Mastercard 20k_
WMDiscover 20k-PenFed X2/15k
Current Fico/EQ-765
Garden Time Day- 10
Remaining Days-170
Established Contributor
flowfaster
Posts: 787
Registered: ‎08-30-2011
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Re: PenFed askd for paystubs after app

They probably wouldn't be asking for documents if they were going to deny you.  I would give them a call or just fax in the docs.

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danielodonoll
Posts: 401
Registered: ‎03-16-2013
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Re: PenFed askd for paystubs after app

i already send in the documents yesterday lets hope will go through

Citi Bank X2/ 29k-USAA Amex/Mastercard 24k-PP Mastercard 20k_
WMDiscover 20k-PenFed X2/15k
Current Fico/EQ-765
Garden Time Day- 10
Remaining Days-170
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flowfaster
Posts: 787
Registered: ‎08-30-2011
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Re: PenFed askd for paystubs after app

Keep checking the app status link for "approved" or "transferred".  That means your good.

 

Good Luck!

Amex BCP/BC/Zync - Amex Business GR - Barclays NFL Visa Sig 49ers/Arrival - BoA BBR - Cap 1 Quicksilver - Citi Forward/Preferred - Chase Amazon/Freedom/Ink Plus - Discover IT - Fidelity Amex - GECRB Amazon/Walmart - PenFed PRV - Target - USAA Amex - US Bank CASH+/Club Carlson
Valued Contributor
thom02099
Posts: 1,326
Registered: ‎08-30-2011
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Re: PenFed askd for paystubs after app


danielodonoll wrote:

I currently have a credit card and autoloan with penfed wich i opened 6 months ago

I went on the spree 4 days ago and requested a second card from Penfed-American Express card and was recomended for 8.5k

Now they asking for the paystubs.

 

Is this bad or is it looking like is going through?


My guess is, and it's only a guess, they want to see what your income is, to support the credit lines/increases you've gotten.   Whether that means approval or denial, you'll know soon enough, again a guess that later today or tomorrow you'll be able to get a decision, depending on how busy their underwriters are. 

AMEX Gold NPSL / AMEX Zync NPSL / AMEX Blue Cash Preferred $14K / Bank of America Cash Rewards Signature Visa $15K / Merrill Lynch Plus Signature Visa $15K / Wells Fargo Propel 365 $15K / Chase Sapphire Preferred Signature Visa $10K / J P Morgan Select Signature Visa $10K / Chase Slate Visa $6K / CITI Diamond Preferred MasterCard $13.2K / Discover IT $10.5K / IberiaBank Select Visa $8K / 1st Command Bank Platinum Visa $7.5K // Home Depot $9.7K / Lowes $10K

EX = 768 EQ = 828 TU = 834 - June/2014
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danielodonoll
Posts: 401
Registered: ‎03-16-2013
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Re: PenFed askd for paystubs after app

I will keep everyone posted just in case it says...Approved

I dont like this delays though since i am already an existing costumer and i have used havy the card and alwsy paid in full for 6 months now

By the way the credit score they use was at 811

Citi Bank X2/ 29k-USAA Amex/Mastercard 24k-PP Mastercard 20k_
WMDiscover 20k-PenFed X2/15k
Current Fico/EQ-765
Garden Time Day- 10
Remaining Days-170
Valued Contributor
thom02099
Posts: 1,326
Registered: ‎08-30-2011
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Re: PenFed askd for paystubs after app


danielodonoll wrote:

I will keep everyone posted just in case it says...Approved

I dont like this delays though since i am already an existing costumer and i have used havy the card and alwsy paid in full for 6 months now

By the way the credit score they use was at 811


811 for what pull?  TU? EQ? EX?  Based on the scores in your signature, looks like you got the latest/greatest version from whatever!  Congrats on that!

AMEX Gold NPSL / AMEX Zync NPSL / AMEX Blue Cash Preferred $14K / Bank of America Cash Rewards Signature Visa $15K / Merrill Lynch Plus Signature Visa $15K / Wells Fargo Propel 365 $15K / Chase Sapphire Preferred Signature Visa $10K / J P Morgan Select Signature Visa $10K / Chase Slate Visa $6K / CITI Diamond Preferred MasterCard $13.2K / Discover IT $10.5K / IberiaBank Select Visa $8K / 1st Command Bank Platinum Visa $7.5K // Home Depot $9.7K / Lowes $10K

EX = 768 EQ = 828 TU = 834 - June/2014
New Contributor
danielodonoll
Posts: 401
Registered: ‎03-16-2013
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Re: PenFed askd for paystubs after app

[ Edited ]

Equifax

P.O. BOX 740241

ATLANTA, GA 30374

PH: 1-800-685-1111

 

 

 

We also obtained your credit score from this consumer reporting agency and used it in making our credit

decision. Your credit score is a number that reflects the information in your consumer report. Your credit score

can change, depending on how the information in your consumer report changes.

Your Credit score: 811

 

 

 

 

 

 

 

Apparently they are using their internal score.

Citi Bank X2/ 29k-USAA Amex/Mastercard 24k-PP Mastercard 20k_
WMDiscover 20k-PenFed X2/15k
Current Fico/EQ-765
Garden Time Day- 10
Remaining Days-170
Established Contributor
TNTransplant
Posts: 772
Registered: ‎01-03-2012
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Re: PenFed askd for paystubs after app


danielodonoll wrote:

Equifax

P.O. BOX 740241

ATLANTA, GA 30374

PH: 1-800-685-1111

 

 

 

We also obtained your credit score from this consumer reporting agency and used it in making our credit

decision. Your credit score is a number that reflects the information in your consumer report. Your credit score

can change, depending on how the information in your consumer report changes.

Your Credit score: 811

 

Apparently they are using their internal score.


PenFed uses the FICO Next Gen score (Equifax's version is the Pinnacle 2.0).  The score range is 150-950, and it looks more heavily at revolving debt, if I recall correctly.


Starting Score: Jan 2012: EQ - 659, TU08 - 670, EX - ???
Current Score:April 2014: EQ - 772, TU08 - 782, EX - 754
Last App:3/21/14

Moderator
09Lexie
Posts: 26,027
Registered: ‎09-13-2012
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Re: PenFed askd for paystubs after app

Hopefully OP will be approved. I remember reading that PenFed sometimes denies due to pyramiding debt even with great pyt history.

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