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Pentagon Federal Credit Union Data Share

Established Contributor

Re: Pentagon Federal Credit Union Data Share


miado wrote:

mattmyFIC0 wrote:

baller4life wrote:

mattmyFIC0 wrote:

Anyone have experience with a personal loan from penfed? I was approved and funded as of 8/1/16. Are the funds sent to me as a check or deposited into my penfed checking?

 

It is already reporting on my CR Smiley Happy


They mail a check. WOW that is super fast reporting. Geez! 


Yeah they were right on it LOL They haven't even reported the cc I got earlier in July....


My CC also hasnt reported from first week in July,

 

has yours even shown a closing date or due date? Mine is still sitting pending.


No closing or due date on mine. I just got it in the mail today though! It took a while...

Scores 01/04/2017: EQ 719, TU 750, EX 716
Goal scores: 740 across the board
Message 2361 of 5,302
Highlighted
Established Contributor

Re: Pentagon Federal Credit Union Data Share

My friend applied for membership and their first cc with penfed last week. It was an instant approval so they went and applied for another card. Now both are pending because they want POI. I think maybe people should start to slow down a bit with penfed. I think I'll let my new products just simmer for a while with them before I do anything else. They seem to want to see what you will do with them before extending more credit/products.

Scores 01/04/2017: EQ 719, TU 750, EX 716
Goal scores: 740 across the board
Message 2362 of 5,302
Super Contributor

Re: Pentagon Federal Credit Union Data Share


cameronusmc20011 wrote:

baller4life wrote:
WOW!! Who is going to be laying low with Penfed is ME! Nope, don't need a cli Penfed. I'm good! Smiley Frustrated

Word Hommie!!!!!!!!!! Im never even going to call, EVER EVER EVER!!!!!!!!!!!!!!!! It woukd be my best friend, Murphy, that they would AA me!!!!!!!


Dude I don't know what's going on over at Pentagon Federal right now. But, they are seriously trippin. I would advise everyone to lay low and let whatever this is blow over. Uggghhhh

Message 2363 of 5,302
Super Contributor

Re: Pentagon Federal Credit Union Data Share


mattmyFIC0 wrote:

My friend applied for membership and their first cc with penfed last week. It was an instant approval so they went and applied for another card. Now both are pending because they want POI. I think maybe people should start to slow down a bit with penfed. I think I'll let my new products just simmer for a while with them before I do anything else. They seem to want to see what you will do with them before extending more credit/products.


Yea it's as if they are reviewing instant approvals now. Not cool.

 

You guys think we tied up all their reserves with all the awesome approvals in this thread? Smiley LOL

Message 2364 of 5,302
Established Contributor

Re: Pentagon Federal Credit Union Data Share

Baller u think a cli at 6 month of the account is now a risk of decrease?
Message 2365 of 5,302
Super Contributor

Re: Pentagon Federal Credit Union Data Share


kugel wrote:
Baller u think a cli at 6 month of the account is now a risk of decrease?

I don't know anything right now. This is all just now happening. We will have to wait and access things as they unfold over the next few months. Too early to tell right now.

Message 2366 of 5,302
Frequent Contributor

Re: Pentagon Federal Credit Union Data Share

Hi BellaLina, hi baller4life, Any other member who had experience with PenFed:

I need your advice:

After reading all the wonderful things about Penfed, I joined yesterday and I applied for the American Express and the Platinum Rewards Signature and denied on both!!!

My Equifax Fico is 720 but according to their letter it's 678.

I have 20 open credit cards with no late payments, bk discharged over 4 years ago. Other paid off cards and closed that goes back 18 years. 3 car loans, 2 paid off and 1 is 15 months old no late payment ever. Only 2 inquiries in the past 15 months on my EQ. They denied me on Visa because:
1- length of time accounts have been established
2- Number of established accounts

And on the American Express card their denial reasons :
1- bankruptcy filing reported
2- length of time account had been established
3- Number of established accounts

and below they added

Insufficient installment payment history? -- I have installment from 2005 to today 11 years is not sufficient installment payment history?
Too many inquiries in the past 12 months -- I only have two inquiries on my EQ before I applied in the past 15 months how could there be too many inquiries in the past 12 months?

So what should I do? Should I call and try to recon? Or should I wait six months and try again ?

Your advice is greatly appreciated !!!!

Message 2367 of 5,302
Super Contributor

Re: Pentagon Federal Credit Union Data Share

Ok Designer. Here's what you do. Send an email to the loan dept addressing each denial reason. And ask for their reconsideration on your denials. Let's start there and see if that route still works. The changes I was referring to in your thread is they seem to have tightened up their underwriting criteria over the past week or so. Before then, your score was getting $20k+ approvals. Below is the email address.

info@HQ.PenFed.org
Message 2368 of 5,302
Established Contributor

Re: Pentagon Federal Credit Union Data Share


Designer91 wrote:

Hi BellaLina, hi baller4life, Any other member who had experience with PenFed:

I need your advice:

After reading all the wonderful things about Penfed, I joined yesterday and I applied for the American Express and the Platinum Rewards Signature and denied on both!!!

My Equifax Fico is 720 but according to their letter it's 678.

I have 20 open credit cards with no late payments, bk discharged over 4 years ago. Other paid off cards and closed that goes back 18 years. 3 car loans, 2 paid off and 1 is 15 months old no late payment ever. Only 2 inquiries in the past 15 months on my EQ. They denied me on Visa because:
1- length of time accounts have been established
2- Number of established accounts

And on the American Express card their denial reasons :
1- bankruptcy filing reported
2- length of time account had been established
3- Number of established accounts

and below they added

Insufficient installment payment history? -- I have installment from 2005 to today 11 years is not sufficient installment payment history?
Too many inquiries in the past 12 months -- I only have two inquiries on my EQ before I applied in the past 15 months how could there be too many inquiries in the past 12 months?

So what should I do? Should I call and try to recon? Or should I wait six months and try again ?

Your advice is greatly appreciated !!!!


WoW, that totally does not make sense.  

Your scores are way there, you have a nice Average Age of Accounts. 

Was that an automatic denial? 

What is your total line of credit? 

 

You have NOTHING to lose .. I would call and/or email them! 

I know they seem to be a little screwy right now with their over turns. 

But you were not approved yet... so you really have nothing to lose. 

It may be a screwy algorithym that automatically denied you. 

Then your 3rd chance will be that survey.  

 

Like I said you have nothing to lose...  I think that the computer couldn't decipher something correctly. 

However, lets see what Baller4Life has to say on the matter. 

 

It is not over until its over... 

Its almost like they may of wrote too much paper last month. 

When did you apply? 

 

 photo AllCC.jpg11/22 FICO8: EX/697 TU/721 EQ/700 ~ Tip Toeing thru the Tulips in my Garden since 6/21
Message 2369 of 5,302
Established Contributor

Re: Pentagon Federal Credit Union Data Share


baller4life wrote:
Ok Designer. Here's what you do. Send an email to the loan dept addressing each denial reason. And ask for their reconsideration on your denials. Let's start there and see if that route still works. The changes I was referring to in your thread is they seem to have tightened up their underwriting criteria over the past week or so. Before then, your score was getting $20k+ approvals. Below is the email address.

info@HQ.PenFed.org

LoL we responded at the same time almost.  

I knew you would have the best advice on the subject. 

 

 photo AllCC.jpg11/22 FICO8: EX/697 TU/721 EQ/700 ~ Tip Toeing thru the Tulips in my Garden since 6/21
Message 2370 of 5,302