Pentagon Federal Credit Union Data Share

[Anonymous]

Nice! Congrats and they for sure use Equifax FICO 9 maybe it was different score before 🤷🏽‍♀️ But congrats !

[jlitnns]

Congrats on the approval, seems like a solid 2% CB card.

[Anonymous]

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wrote:

Sorry, yes I did.  I edited/updated my post to reflect the following:

Penfed Nextgen: 732  (notice in letter said score was this and it's not my FICO 8 or 9 so I'm guessing it's the nextgen?)

Instant or Review?: Review

@Anonymous next day - $10K @ 14.99% with 1.5% cash back.  They then offered to open up a checking account and increase the rewards to 2%.  So I said yes to that.

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In case if you didn't know, you need to maintain a daily balance of $500 or a monthly direct deposit of > $500 in the checking to avoid the monthly service fee ($9.95 I think) which will eat into your 2% CB.

[QCS123]

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wrote:

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wrote:

Sorry, yes I did.  I edited/updated my post to reflect the following:

Penfed Nextgen: 732  (notice in letter said score was this and it's not my FICO 8 or 9 so I'm guessing it's the nextgen?)

Instant or Review?: Review

@Anonymous next day - $10K @ 14.99% with 1.5% cash back.  They then offered to open up a checking account and increase the rewards to 2%.  So I said yes to that.

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In case if you didn't know, you need to maintain a daily balance of $500 or a monthly direct deposit of > $500 in the checking to avoid the monthly service fee ($9.95 I think) which will eat into your 2% CB.

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Ouch!  I didnt know that, i will reevalute with that new info! Thanks!

[Anonymous]

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wrote:

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wrote:

Sorry, yes I did.  I edited/updated my post to reflect the following:

Penfed Nextgen: 732  (notice in letter said score was this and it's not my FICO 8 or 9 so I'm guessing it's the nextgen?)

Instant or Review?: Review

@Anonymous next day - $10K @ 14.99% with 1.5% cash back.  They then offered to open up a checking account and increase the rewards to 2%.  So I said yes to that.

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In case if you didn't know, you need to maintain a daily balance of $500 or a monthly direct deposit of > $500 in the checking to avoid the monthly service fee ($9.95 I think) which will eat into your 2% CB.

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Thank you for that!

[Anonymous]

No problem, I have been questioning the wisdom of leaving $500 in there just for the extra .5% on the PCR, seriously considering closing the checking, SD the PCR next to QS and replace it with Citi DC for general spending.

[Anonymous]

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wrote:
No problem, I have been questioning the wisdom of leaving $500 in there just for the extra .5% on the PCR, seriously considering closing the checking, SD the PCR next to QS and replace it with Citi DC for general spending.

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I already have the DD going there for the Auto, so it was simple for me.  But you have to do what works best for you.  

I have been going round and round with them on a platinum.  I've had the acct ouver 6 months, but just recently got the first card, so i have to build history, but since i've had them awhile it feels like it should be quicker 

[Hex]

My DD was declined for a unsecured credit card from PenFed in July but she was allowed to open a secured one. She hit them CLI button at six months and was declined so she applied for a second card and was also declined. I was hoping someone with the secured card could let me know their experience with the secured card and how long it took to unsecure.

[Anonymous]

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wrote:
My DD was declined for a unsecured credit card from PenFed in July but she was allowed to open a secured one. She hit them CLI button at six months and was declined so she applied for a second card and was also declined. I was hoping someone with the secured card could let me know their experience with the secured card and how long it took to unsecure.

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I havent had one, but i can tell you what i know from the posts i have seen about it.   first thing and as always YMMV.   It has to do with alot of things.  For the card itself, does the bal stay under 30% of limit, is it PIF or larger payment vs. min.  Also, for Penfed and Navy too, your overall DTI comes into play A LOT.   I couldnt get a Penfed card until my score was over 650, so could that be the hold up.   Penfed is great, but they are on the stricter side of CU lenders. 

[Anonymous]

Hi! from what i have seen i dont belive Penfed unsecures secured credit cards...also what the other poster said they like to see good payment history as well as uti and scores! so just keep that in mind! i had the score but my history is too new for them! so im waiting to reapply as i have 2 car loans and a CLOC with them so ill wait it out the 6 months and try again!