Pentagon Federal Credit Union Data Share

[simplynoir]

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@Anonymouswrote:

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@Adkinswrote:

All the denials makes me reconsider my plan to join and app for CC with them in June. 

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with your scores, i would think you would be fine to get in and be approved.  The SL wont be Navy-like tho.    they like alot more history before it grows. 

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I would say NFCU is the same as well but seems definitely Penfed likes to keep you around for a bit (8-12 months?) before opening up their wallets.

[Anonymous]

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@Anonymouswrote:

If its really tightening up that much, guess i'll just have to stick with what i have for a good long while.  Not like i had any other plans, but was hoping to increase with them sooner rather than later. 

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I was thinking the same thing. I'll probably wait until the holidays. 

[Anonymous]

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@simplynoirwrote:

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@Anonymouswrote:

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@Adkinswrote:

All the denials makes me reconsider my plan to join and app for CC with them in June. 

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with your scores, i would think you would be fine to get in and be approved.  The SL wont be Navy-like tho.    they like alot more history before it grows. 

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I would say NFCU is the same as well but seems definitely Penfed likes to keep you around for a bit (8-12 months?) before opening up their wallets.

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I've had a share account with Penfed for nearly 40(!) years. I think that's helped me with CC and loan approvals with them. Still waiting on that survey email, though...

[AverageJoesCredit]

I hear thats the new lending standard or qualifying for the tier1 status, 40 years needed to establish relationship

[stinastina]

I just got my denial letters from Penfed. My EQ9 is 635 but my EQ8 is 653. My Vantage is 635. So I guess I understand why they gave me no love. I wish there was some way I could check EQ9 without paying $20. But for now I will be patient until my scores go up more.

[Anonymous]

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@AverageJoesCreditwrote:
I hear thats the new lending standard or qualifying for the tier1 status, 40 years needed to establish relationship

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Well, to be more precise, it's more like 35 years that I've been personally engaged with Penfed, as my parents turned the share account over to my control after I'd graduated from college. By the way, having subscribed to CCT today, I see that my EQ8 is 693, so I guess Penfed turned down my CLI application - I just remembered from looking at the list of EQ inquiries that I put in an unsuccessful app just about exactly 6 months ago, then did another (successful) one after the quarterly scores were pulled - pretty much because, as noted previously and elsewhere, they're in a hardline mood these days on lending. So I'll just wait until the next quarterly FICO 9 pull and see if any quarterly offers come up.

[Anonymous]

Just activated the card and Rep told me I have to wait 24 hours after activation to use Promise balance transfer. Is that true? When I try the balance transfer, it keeps giving me my old score and stating my credit score is too low for balance transfer. Letter in messages also showed old score. Should I contact them again?

[Anonymous]

Yes, I would definitely call and get to a supervisor. Balance transfers are subject to credit approval, even if you have been approved for the card itself. They had a glitch where they were pulling my current credit but storing an old report and looking at the old report.

[Anonymous]

Adding a quick data point - just approved online for the Power Cash Reward card, $17k SL @ 17.74% - this is the biggest SL I have ever received, ever :-)

My history (BK7 discharged 12/13)

Membership 10/2015

Approved for $35k auto refinance 11/2015 (went into review)

Approved for two $10k cards 1/2016, combined the promise into the visa platinum for one $20k card (went into review same day for both)

Approved for $17k power cash instantly online 3/2018 (my discover pre-approval decline yesterday said 692 EQ)

I also tried my luck with a PLOC after locking my EQ - but was turned down without a review - so it may have to do with the lock and/or my score at the last AR.  Whatever the case, I'll use the new card, pay in full and then wait until they do the next AR and see what my score looks like at that point.

[imaximous]

I applied in early February as a new member. Opened a checking, savings and applied for 2 credit cards at once.

First card app was for the Pathfinder. It was approved instantly for $10k

Second card app was for the Platinum. It went to pending. Then I was informed I'd hit the new member maximum of $10k for first 6 months of membership, and they asked if I'd like to split my line to get the card approved. So basically 2 $5k cards. I agreed.

Long story short, I changed my mind about the Platinum and requested a Power Cash card instead.

I never received a letter from them with my EQ score, but my Fico8 with TU and EX were 752 and 751 at the time, so EQ should've been around there.

I honestly don't like their rewards program. The 2% cashback card is fine because it's plain old cash, but their Pathfinder rewards aren't what I expected even at 4% (which isn't a true 4%). I'm keeping it because of free Global Entry and the $100/yr incidentals reimbursement. So I basically make money without even spending.