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Frequent Contributor
Posts: 451
Registered: ‎10-02-2011
0

Re: Love PenFed!!!

not really they will ask you to unbloc the credit report before they do anything with your app


COMMERCE BANK PLATINIUM VISA 20K*PAYPAL MC $9.5K*CITI FORWARD $8.5K*PENFED $6,5K*
*LOWES $6K *CMN BANK $5.2K-*PNC $5K*SCLUB DISC. $5K*
WMART DISC.4K*CMN BANK 3.75K*BANK OF AMERICA $3K* MACYS $2.2K*
JCP $1.8*TARGET $0.7K* UTL1%- AAOA 5.5- TOTAL 12 yrs History/
Transunion 718 Equifax 733- Experian 736
Frequent Contributor
Posts: 451
Registered: ‎10-02-2011
0

Re: Love PenFed!!!

Capital one I for ppl with credit problems.I dont see how it can be of any use for anything alse other than that If u have fico above 700 YOU DO NOT NEED CAPITALONE CREDIT CARD  You are ready for prime credit cards.And please open at least 3 accounts the same time then stop applying for 6 months then 3 more accounts.Thats a proven formula that works all the time with out  damaging your fico score


COMMERCE BANK PLATINIUM VISA 20K*PAYPAL MC $9.5K*CITI FORWARD $8.5K*PENFED $6,5K*
*LOWES $6K *CMN BANK $5.2K-*PNC $5K*SCLUB DISC. $5K*
WMART DISC.4K*CMN BANK 3.75K*BANK OF AMERICA $3K* MACYS $2.2K*
JCP $1.8*TARGET $0.7K* UTL1%- AAOA 5.5- TOTAL 12 yrs History/
Transunion 718 Equifax 733- Experian 736
Established Contributor
Posts: 505
Registered: ‎12-07-2012
0

Re: Love PenFed!!!

PenFed approved me for the Travel Rewards AMEX with $5000 limit. TU at time was 670 with 38 inquires. I still can't believe I was approved!

Amex BCE $18,000 | BofA Power Rewards WMC $15,000 | Chase Freedom VS $20,000 | Chase Marriott Premier VS $5,000 | Citi Diamond Preferred $4,200 | DCU $4,300 | Discover It $4,900 | Local Bank MC $4,125 | Local CU Visa $3,500 | PenFed Platinum Rewards VS $9,000 | SallieMae Rewards $11,000
Valued Contributor
Posts: 1,673
Registered: ‎11-11-2012
0

Re: Love PenFed!!!


astritaho1979 wrote:

Capital one is not a prime lender for the fact that prime lenders have high credit limits min with a reg score 5k max 50k

Capitalnone have petti limits like 500 for a month of starbucks coffe


Well, as I've posted before, my two Capital One cards have limits of $30K and $15K.   Those were the limits they started with, and I never asked for a CLI on them and never got one (although they did reduce the APR without being asked).   I think it is just the fact that people starting out, or with credit troubles, are able to get to credit from Capital One (and not from others) and so get toy limits.  People with better credit history can get high limits as much as with other issuers.

Valued Member
Posts: 50
Registered: ‎09-20-2012
0

Re: Love PenFed!!!

[ Edited ]

astritaho1979 you do realize that the topic is love PenFed not hate Cap1 right?

Edited.  Smiley Wink

 

Please play nice!  Shogun, myFICO moderator

Valued Contributor
Posts: 1,673
Registered: ‎11-11-2012
0

Re: Love PenFed!!!


distantarray wrote:



I kinda gotta disagree, I can't consider any of their cards truly Prime since they don't even show the level of trust for their applicants by pulling all 3. Which would be a good in business sense, but this is not the industry's norm.


I understand but it is a sort of strange argument.   So super-prime lenders should maybe not pull any reports to demonstrate trust?

 

 

Presumably the reason most lenders don't pull all three is cost.  And because most of the base IS subprime (I agree with this, just not with all cards being subprime) Capital One must feel that the extra cost is worth it to minimize risk with the dodgy clients!   And once they do this for that segment, they do it for all, because they cannot tell which segment you really are (and may still want all the info even if they could).

 

And even lenders like Amex will pull additional reports if they view the application as borderline.

 

The whole process of pulling just  one is very strange, a gamble from the lenders viewpoint.  Fans of financial responsibility by banks should want all banks to pull all reports all the time!

 

What I find amusing is that on some threads people have been saying the high lending standards of PenFed and others is great, it's good that people get rejected.  Capital One is doing the same sort of thing and getting dinged.

Frequent Contributor
Posts: 451
Registered: ‎10-02-2011
0

Re: Love PenFed!!!

[ Edited ]

Edited for inappropriate content.

 

Shogun, myFICO Moderator

 


COMMERCE BANK PLATINIUM VISA 20K*PAYPAL MC $9.5K*CITI FORWARD $8.5K*PENFED $6,5K*
*LOWES $6K *CMN BANK $5.2K-*PNC $5K*SCLUB DISC. $5K*
WMART DISC.4K*CMN BANK 3.75K*BANK OF AMERICA $3K* MACYS $2.2K*
JCP $1.8*TARGET $0.7K* UTL1%- AAOA 5.5- TOTAL 12 yrs History/
Transunion 718 Equifax 733- Experian 736
Regular Contributor
Posts: 179
Registered: ‎01-17-2008
0

Re: Love PenFed!!!

capital denied me long time ago but PENFED gave 42,000 car loan 1.49%  20.5k plat visa 15k Amex defender and LOC 15K gotta love Penfed but nobody beats my boys at Navyfed I have 80K total line Smiley Very Happy all within the last 5 months. Mrpostman is staying in the garden.

Frequent Contributor
Posts: 451
Registered: ‎10-02-2011
0

Re: Love PenFed!!!

[ Edited ]

Post is edited due to inappropriate content.


COMMERCE BANK PLATINIUM VISA 20K*PAYPAL MC $9.5K*CITI FORWARD $8.5K*PENFED $6,5K*
*LOWES $6K *CMN BANK $5.2K-*PNC $5K*SCLUB DISC. $5K*
WMART DISC.4K*CMN BANK 3.75K*BANK OF AMERICA $3K* MACYS $2.2K*
JCP $1.8*TARGET $0.7K* UTL1%- AAOA 5.5- TOTAL 12 yrs History/
Transunion 718 Equifax 733- Experian 736
Frequent Contributor
Posts: 451
Registered: ‎10-02-2011
0

Re: Love PenFed!!!

Now thats what iam talking about bro.Straight answer.Ur in good hands with Penfed


COMMERCE BANK PLATINIUM VISA 20K*PAYPAL MC $9.5K*CITI FORWARD $8.5K*PENFED $6,5K*
*LOWES $6K *CMN BANK $5.2K-*PNC $5K*SCLUB DISC. $5K*
WMART DISC.4K*CMN BANK 3.75K*BANK OF AMERICA $3K* MACYS $2.2K*
JCP $1.8*TARGET $0.7K* UTL1%- AAOA 5.5- TOTAL 12 yrs History/
Transunion 718 Equifax 733- Experian 736
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