First, thanks to all the awesome posts on this forum. I've learned so much from everyone over past few years. I thought I'd post my results and this thread looked to be as good as any on the subject. I've read many different threads on here about how PenFed is ultra-conservative, not for rebuilders, and they don't like inquiries or negatives on your credit report. I read all that stuff about how conservative they are in lending after I app'd. I figured my app was doomed and destined for denial.
The initial result: refer to lender for credit line. Well, next day, my app was reviewed and approved for $2,500 CL Visa CC. Not quite 11k from initial app screen, but heck, I'll take that, especially since they appear to be hard to get but tend to take care of their customers with decent CLI's over time. I also couldn't find much on these forums about how you check your PenFed app status other than to say you need to login to the website or call, so for those who might be looking--I had no member number in my email, so I couldn't login, and no link to click to check my app without it, so I called and they gave all that to me over the phone the next evening after I applied. I called to get my member number--and that was given to me, as well as my app status, which nice. Super-helpful rep. Very courteous.
Now for the details according to EQ, which are apparently unusual for a PF approval:
Ch. 7 BK 4 years ago on my report
No inq's
AAoA is 8 years
24% util (ugh--holiday spending)
FICO score 690 after app'd
Posts would lead me to believe I would have a better shot at winning the lottery than getting a PenFed card, but I did. Your results may vary, and I'm not encouraging anyone to go crazy and take a hard inquiry on their report when the odds are stacked against ya, but I wanted people to know that strange things DO happen--in both directions. Maybe their not for rebuilders, but this is one rebuilder who happened to get approved :-)
