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Community Leader
Super Contributor
Posts: 13,401
Registered: ‎09-13-2013

Re: Penfed Approval Guide Please Post Your Data For Others

Ok. Good luck NYFan! Smiley Happy
Valued Contributor
Posts: 2,387
Registered: ‎10-22-2015

Re: Penfed Approval Guide Please Post Your Data For Others


tussking wrote:
Baller which card should I apply for if denied ?
So I am clear the one HP they did will be used for 90 for any products I apply for ?

Determining if you should reapply will depend on the reasons for denial (hoping you receive an approval, fingers crossed for you).  But in my experience, and from what I've read on the forums here...the Promise Visa seems one of the more entry level cards that seems to be the easiest to get.  I started with a Promise @ $8.5k and towards the end of my 90 days I pulled the trigger on the Travel Rewards Amex and was approved with the same limit as my Promise.  Best of luck to you and be sure to come back and post the results.  

Frequent Contributor
Posts: 289
Registered: ‎12-30-2015
0

Re: Penfed Approval Guide Please Post Your Data For Others

Product(s) approved and Limit(If approved for multiple products please include date if not immediate)  Platinum Rewards Visa Sig
EQ 08 Fico: 685
Penfed Nextgen: 726 (up from 646 when I was denied 2 mos ago)

Instant or Review?: Review + Recon

POI?: ?

AAOA: 7.5 years
Derogs?: (If you have a BK please list type and discharge date!) Chapter 13 BK discharged 2/2/16. 

Util: 1%

Total EQ Inquiries:  11

                Last 12 months: 11

                Last 6 months: 11
New Accounts in last 6 months: 8 (I've only started rebuilding in the last 3 mos.)


Starting Scores 2/2/16 EX: N/A EQ: 586 TU: 597 | As of 5/3/16 EX: 682 EQ: 681 TU: 672
Community Leader
Super Contributor
Posts: 13,401
Registered: ‎09-13-2013

Re: Penfed Approval Guide Please Post Your Data For Others


IAmLeTired wrote:

Product(s) approved and Limit(If approved for multiple products please include date if not immediate)  Platinum Rewards Visa Sig
EQ 08 Fico: 685
Penfed Nextgen: 726 (up from 646 when I was denied 2 mos ago)

Instant or Review?: Review + Recon

POI?: ?

AAOA: 7.5 years
Derogs?: (If you have a BK please list type and discharge date!) Chapter 13 BK discharged 2/2/16. 

Util: 1%

Total EQ Inquiries:  11

                Last 12 months: 11

                Last 6 months: 11
New Accounts in last 6 months: 8 (I've only started rebuilding in the last 3 mos.)


POI is Proof of Income. Did they request paystubs,etc?

Frequent Contributor
Posts: 433
Registered: ‎10-22-2015
0

Re: Penfed Approval Guide Please Post Your Data For Others

I was denied due to BK7. Should I call and see if they approve me for a different card ?
Discharged BK7 - 10.16.15
Current Fico8 - (1.31.17) EX - 656/EQ - 663/TU - 660
Total CL - $120,000
Community Leader
Super Contributor
Posts: 13,401
Registered: ‎09-13-2013
0

Re: Penfed Approval Guide Please Post Your Data For Others


tussking wrote:
I was denied due to BK7. Should I call and see if they approve me for a different card ?

Your bk is less than a yr old. You can try sending a recon and explaining your situation and see if they would be willing to overturn denial. If they stand by their decision,you can try apping their entry level Promise. Won't hurt anything since it's the same hp. I will pm you email address.

Frequent Contributor
Posts: 433
Registered: ‎10-22-2015
0

Re: Penfed Approval Guide Please Post Your Data For Others

So recon via email or give the promise a shot now ?
Discharged BK7 - 10.16.15
Current Fico8 - (1.31.17) EX - 656/EQ - 663/TU - 660
Total CL - $120,000
Community Leader
Super Contributor
Posts: 13,401
Registered: ‎09-13-2013
0

Re: Penfed Approval Guide Please Post Your Data For Others

Recon your denial first. If they won't change their mind, THEN you can app Promise and see what happens. Like Loquat said, it's there entry level card. Easier to get. They can start it as low as $500 if need be.
Frequent Contributor
Posts: 433
Registered: ‎10-22-2015
0

Re: Penfed Approval Guide Please Post Your Data For Others

Thanks Baller...Since have no experience recon'ing a denial would you mind assisting me ? Should I call or email and could you private message me or post exactly what should be said ?
Discharged BK7 - 10.16.15
Current Fico8 - (1.31.17) EX - 656/EQ - 663/TU - 660
Total CL - $120,000
Community Leader
Super Contributor
Posts: 13,401
Registered: ‎09-13-2013
0

Re: Penfed Approval Guide Please Post Your Data For Others


tussking wrote:
Thanks Baller...Since have no experience recon'ing a denial would you mind assisting me ? Should I call or email and could you private message me or post exactly what should be said ?

I will send you a pm in an hour or so. Helping a friend move.

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