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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.
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.)
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.
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!
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.
@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.
Congrats
wot wot!! Congrats!!