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Senior Contributor
Posts: 8,131
Registered: ‎04-23-2016

Re: Pentagon Federal Credit Union Data Share

Oldman87, i would definetly recon that limit. Dang a 812 nextgen and scores only a 9k, they must not like something in your profile even though their acore says otherwise.
Regular Contributor
Posts: 209
Registered: ‎01-06-2016
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Re: Pentagon Federal Credit Union Data Share

I had asked to transfer credit limit from my credit card to the PLOC, and was informed they don't do that. Bummer. I was advised to request for a CLI on the PLOC and to have them make a note that I'm willing to decrease my CL on my CC. Even more of a bummer. Guess they don't want to extend me any more credit at this time based on that response. I only have $15K between the two lines. Most recent Nextgen score is 788. 

New Contributor
Posts: 265
Registered: ‎04-26-2017

Re: Pentagon Federal Credit Union Data Share


AverageJoesCredit wrote:
Oldman87, i would definetly recon that limit. Dang a 812 nextgen and scores only a 9k, they must not like something in your profile even though their acore says otherwise.

AverageJoe, I'm definitely calling them first thing in the morning after reading through some of the SL's in this thread.  I think they're relectant due to my short and lack of revolving credit history even though my report is clean (maybe too clean), I have been a cash/debit card user most of my adult life and have never even checked my CR up until April this year, the only accounts on my reports were a 14 yr old mortgage, a 3 yr old 2.2k Costco Citi card and the closed Amex Costco that was sold to Citi.  I have since added 8 cards and 85k of revolving credit including this one, I'm probably lucky I wasn't labeled an Egyptian.   I did also opened their checking, funded 5 CDs (laddered) and an IRA CD acount today, hopefully that will help my case tomorrow.

Valued Contributor
Posts: 2,068
Registered: ‎07-17-2012

Re: Pentagon Federal Credit Union Data Share

[ Edited ]

I didn't follow the PenFed threads much before I applied.  I heard they are a good bank years ago. That's why I got my foot in the door when I opened an account 9 years ago. Based on this 457+ page thread and some others I've read, I'm going to say they are considered a good bank to have a relationship with and being approved for one of their cards is a big deal. Maybe better than many other lenders. Am I correct with this?

 

Also, how long does it take to receive the card after being approved?  I'm holding off on paying this month's expenses so I can put those towards useage for the $100.00 statement credit. 

 

Cap 1 - $23,000 / Lowe’s - $17,000 / Barclay Rewards - $16,400. / Capital 1 - $15,000 / Walmart - $15,000
Cap 1 - $12,000 / PenFed - $10,000 / Penney - $10,000 / Barclay Apple Rewards - $4000 / Merrick - $2500


EQ - 739 / TU - 748 / EX - 748
Established Contributor
Posts: 1,119
Registered: ‎02-07-2017

Re: Pentagon Federal Credit Union Data Share


masscredit wrote:

I didn't follow the PenFed threads much before I applied.  I heard they are a good bank years ago. That's why I got my foot in the door when I opened an account 9 years ago. Based on this 457+ page thread and some others I've read, I'm going to say they are considered a good bank to have a relationship with and being approved for one of their cards is a big deal. Maybe better than many other lenders. Am I correct with this?

 

Also, how long does it take to receive the card after being approved?  I'm holding off on paying this month's expenses so I can put those towards useage for the $100.00 statement credit. 

 


Allowing for the fact that I was approved for my Power Cash Rewards just before the July 4th holiday (I took the preapproved offer on July 1 and it was processed through to the "Transferred" stage on July 2), I'd say up to a week depending on where in the country you're located. Penfed produces its cards in Oregon and mails them from there, and says to allow up to 7 to 10 business days to receive your new card.

 

And definitely yes, Penfed is one of the better credit unions and their credit cards are well-regarded for good reason. Having a long relationship with them is definitely rewarding - I've had my account with them for close to 40 (!!!) years, since I was a high-school student and my parents opened it in my name.

Rebuilding credit since 12/14 Ch7 BK discharge. FICO 8/18/17:TU 649/EX 684/EQ 688 FICO 8 or 693 NG 2, VS 3.0 8/18/17: TU 704/EX 684/EQ 700. $800 Amazon Prime Store Card, $951 Cap One secured Platinum MC, $1200 Walmart Store Card, $2000 Apple FCU Platinum Visa, $3000 Penfed Power Cash Rewards Visa, $3000 Cap One Quicksilver MC, $3300 Discover It, $4000 Overstock Store Card, $10k PenFed used car loan, $5k Navient student loan. In the garden as of 7/2/17 AND THIS TIME I REALLY MEAN IT!!! (unless I get a preapproval I can't refuse...)
Frequent Contributor
Posts: 395
Registered: ‎04-24-2014
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Re: Pentagon Federal Credit Union Data Share

[ Edited ]

DaveInAZ wrote:

csryang wrote:

Total80sKid wrote:

Your NextGen will be the score in the online message they send you with the info from the credit company they used to make their decision.


I have not received any messages from them after logging in and checking message section. However, I was told I was approved for 25k?

So where can I check my Next Gen score? That's why I assumed I wont get the score until I receive the card in the mail and maybe they will include a score with it.


If you call in they can tell you your NextGen score.


Uh, I am not sure if I want to be on hold for 20+ min just to know my NextGen score. I called twice last week and each time is about 25-30min. 

They explained that they absorbed several CUs so it's only temporary.

 

Is there a lazy way to know it? I am assuming that I will get my score once I receive my card in the mail. 

FICO: EX 748 (amex), EQ 791 (citi), TU 775 (discover and barclay)


Personal: Business:
Established Contributor
Posts: 1,014
Registered: ‎04-14-2016

Re: Pentagon Federal Credit Union Data Share


csryang wrote:

DaveInAZ wrote:

csryang wrote:

Total80sKid wrote:

Your NextGen will be the score in the online message they send you with the info from the credit company they used to make their decision.


I have not received any messages from them after logging in and checking message section. However, I was told I was approved for 25k?

So where can I check my Next Gen score? That's why I assumed I wont get the score until I receive the card in the mail and maybe they will include a score with it.


If you call in they can tell you your NextGen score.


Uh, I am not sure if I want to be on hold for 20+ min just to know my NextGen score. I called twice last week and each time is about 25-30min. 

They explained that they absorbed several CUs so it's only temporary.

 

Is there a lazy way to know it? I am assuming that I will get my score once I receive my card in the mail. 


Yes.  The lazy way to know your score is to wait for the quarterly AR, when scores will post to online banking.  Next AR is on 8/1, so those scores should post on 9/1.

 

Enjoy

New Contributor
Posts: 265
Registered: ‎04-26-2017

Re: Pentagon Federal Credit Union Data Share


oldman87 wrote:

AverageJoesCredit wrote:
Oldman87, i would definetly recon that limit. Dang a 812 nextgen and scores only a 9k, they must not like something in your profile even though their acore says otherwise.

AverageJoe, I'm definitely calling them first thing in the morning after reading through some of the SL's in this thread.  I think they're relectant due to my short and lack of revolving credit history even though my report is clean (maybe too clean), I have been a cash/debit card user most of my adult life and have never even checked my CR up until April this year, the only accounts on my reports were a 14 yr old mortgage, a 3 yr old 2.2k Costco Citi card and the closed Amex Costco that was sold to Citi.  I have since added 8 cards and 85k of revolving credit including this one, I'm probably lucky I wasn't labeled an Egyptian.   I did also opened their checking, funded 5 CDs (laddered) and an IRA CD acount today, hopefully that will help my case tomorrow.


Update: Called 8am this morning and got my first unfriendly CSR (you can tell right away someone had a late night) since I joined, explained to him the purpose of my call and he put me on hold for 10 mins then said they can up my limit to 20,500 (happens to be 500 above my highest limit BCE) but will require income verification, I thought about it and decided a CLI wasn't worth the trouble of handing over highly sensitive top secret information so I said forget about the request and just leave it at 9k, he said it's too late, once the "process" starts it can't be stop so even 9k would require IV, after a few minutes of back and forth I told him I'll think about it.
 
I waited until 4 pm to call back hoping to catch the next shift, sure enough the usual friendly PenFed CSR picks up, few sentences in she said "I know exactly what happened, the previous rep upped the limit to 20k on the original app and just left it there, all I have to do is lower it to 9k and push it out the door." and she did exactly that in 2 mins.
 
Moral of the story, don't be greedy or don't call so early in the morning.
Regular Contributor
Posts: 130
Registered: ‎10-11-2016

Re: Pentagon Federal Credit Union Data Share

@oldman87

 

Thanks for that morality tale; it was just what I needed to hear just now.

 

 


Current Score: EQ753 TU769 EX774
Goal Score: 800's once again


Note to self: Garden. Must garden till 3rd Qtr, 2018
New Contributor
Posts: 265
Registered: ‎04-26-2017
0 Kudos

Re: Pentagon Federal Credit Union Data Share


zipperhead wrote:

@oldman87

 

Thanks for that morality tale; it was just what I needed to hear just now.

 

 


No problem zipperhead, I almost screwed myself there big time.

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