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Pondering PenFed

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Anonymous
Not applicable

Pondering PenFed

I apped for the PenFed Power Cash Rewards card 6 weeks ago.  They pulled my Equifax FICO 9 at 700.  I was rejected over an old $56 nuisance medical collection.  I paid off all my old collections that day.  I just checked my EQ FICO 9 and it came in at 731.  My 4 old nuisance collections are all showing paid.  Every other account is perfectly clean.  I am a PenFed member already and their Power Cash Rewards card is the next up on my list (to replace the Indigo).  Any guidance on whether I should ask for a recon on the 6 week old app, app again or let my spade change a few more colors first?  I love my BCP for groceries, but I would like a little more reward for my every day spend. 

Message 1 of 15
14 REPLIES 14
K-in-Boston
Credit Mentor

Re: Pondering PenFed

Call and speak with one of their loan officers to recon.  I would specifically mention your drastically improved score and give them permission to pull a new HP if they insist on using the previous pull for a decision.  (There has been some talk of PenFen no longer going 90 days on a pull recently; in your case that may not be desirable anyway.)

Message 2 of 15
Anonymous
Not applicable

Re: Pondering PenFed

Thanks, K.  I have stepped out of the garden.  They said they could not recon without a signed letter, so I wrote a recon letter this morning, signed it, scanned it and emailed them.  We'll see where it goes from there.

 

Message 3 of 15
Anonymous
Not applicable

Re: Pondering PenFed

The recon worked.  They were concerned about my new credit lines over the summer so they only approved me for $500, but I am in the door at PenFed!

Message 4 of 15
Adkins
Legendary Contributor

Re: Pondering PenFed

Congratulations on your successful recon! That credit line will grow soon enough!

Last HP 08-07-2023



Message 5 of 15
K-in-Boston
Credit Mentor

Re: Pondering PenFed

Great news!  It's certainly a foot in the door with the lending side and more proof that recon does work in a lot of cases!

It also nicely complements the blue-grey aesthetic you have going in your signature.

Message 6 of 15
Anonymous
Not applicable

Re: Pondering PenFed


@K-in-Boston wrote:

Great news!  It's certainly a foot in the door with the lending side and more proof that recon does work in a lot of cases!

It also nicely complements the blue-grey aesthetic you have going in your signature.


The indigo is gone before my next yearly is due.  Then I can get that darn splash of color out of my Amish motif.  

Message 7 of 15
Anonymous
Not applicable

Re: Pondering PenFed

Great job getting in with Penfed. I'm considering joining them. Dv
Message 8 of 15
JoeLuvsHisCredit
Valued Contributor

Re: Pondering PenFed

Congrats

Message 9 of 15
Anonymous
Not applicable

Re: Pondering PenFed

wot wot!! Congrats!! Smiley Wink

Message 10 of 15
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