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App sent: PenFed Platinum Rewards - Considering: Amex BCE

New Visitor

App sent: PenFed Platinum Rewards - Considering: Amex BCE

Hi, Guys!

 

I've been reading the forums for a month+ and learning a lot. You guys are awesome and the information you all provide is high quality! I think it's about time I joined and gave back to the community Smiley Happy

 

So I went for it all after getting my Chase Freedom: I applied for a PenFed Platinum rewards card last night and it's currently under review by a loan officer for a $9,000 CL. I'm super, super nervous and I really hope I get it. If I can get that as my fourth card, and only second major card, then that would be life changing!

 

Do you guys think I have a chance? My scores and cards are in my signature. Here are some things you might want to know:

23 y/o, male

I started my first job in June

Car loan in May - made 4 payments

Credit Inquries: 3 for loan in May '12, 1 for CapOne Mar '11, and probably some for Chase Freedom app/total checking, Ally checking, and PenFed account

Applied and approved for Chase Freedom in August, 4K CL, and PIF one statement

I am 100% on-time PIF and currently have 11% utilization

 

I am concerned about my credit inquiries and young credit life holding me back, but they'll see I just got a job and always have paid in full without one.

 

If I get rejected, with one more added inquiry from PenFed, do you think I have a low chance for a AMEX BCE?

I was mailed an offer for an AMEX Gold, and on their pre-selection part of the website, they offer me Blue Sky Preferred and Starwood Preferred.

 

Thanks guys for the help you've already provided me and any future help! I keep reading you all like hearing about app statuses, so I thought I'd throw mine in there!

 

If I fail on both, I won't mind sitting on my Chase Freedom for awhile. I opened a checking account to get the $200 bonus and 10 free bonus points per transaction + a bonus 10% Smiley Happy

 

Thanks again and happy Sunday!

Macy's Card - $300 (Jan '12) | Capital One Platinum - $750 (Mar '11) | Chase Freedom - $4000 (Aug '12)
Average: 0 years 7 months
Transunion: 747 - Transunion.com (5/23/12) | 729 - Credit Karma (9/23/12)
Last App: PenFed Platinum Rewards - 9/29/12
30 REPLIES
Mega Contributor

Re: App sent: PenFed Platinum Rewards - Considering: Amex BCE


tofferlin wrote:

Hi, Guys!

 

I've been reading the forums for a month+ and learning a lot. You guys are awesome and the information you all provide is high quality! I think it's about time I joined and gave back to the community Smiley Happy

 

So I went for it all after getting my Chase Freedom: I applied for a PenFed Platinum rewards card last night and it's currently under review by a loan officer for a $9,000 CL. I'm super, super nervous and I really hope I get it. If I can get that as my fourth card, and only second major card, then that would be life changing!

 

Do you guys think I have a chance? My scores and cards are in my signature. Here are some things you might want to know:

23 y/o, male

I started my first job in June

Car loan in May - made 4 payments

Credit Inquries: 3 for loan in May '12, 1 for CapOne Mar '11, and probably some for Chase Freedom app/total checking, Ally checking, and PenFed account

Applied and approved for Chase Freedom in August, 4K CL, and PIF one statement

I am 100% on-time PIF and currently have 11% utilization

 

I am concerned about my credit inquiries and young credit life holding me back, but they'll see I just got a job and always have paid in full without one.

 

If I get rejected, with one more added inquiry from PenFed, do you think I have a low chance for a AMEX BCE?

I was mailed an offer for an AMEX Gold, and on their pre-selection part of the website, they offer me Blue Sky Preferred and Starwood Preferred.

 

Thanks guys for the help you've already provided me and any future help! I keep reading you all like hearing about app statuses, so I thought I'd throw mine in there!

 

If I fail on both, I won't mind sitting on my Chase Freedom for awhile. I opened a checking account to get the $200 bonus and 10 free bonus points per transaction + a bonus 10% Smiley Happy

 

Thanks again and happy Sunday!


Welcome to the forums!!!

 

PenFed is VERY strict about approvals. It looks like you have a thin file and that will more than likely be denied by PenFed.

 

-What current cards do you have??

-Any Baddies??

 

 

I cant give you advice on the BCE until you answer those.

 




EQ FICO 548 3/3/16
New Visitor

Re: App sent: PenFed Platinum Rewards - Considering: Amex BCE

 


LS2982 wrote:
 

PenFed is VERY strict about approvals. It looks like you have a thin file and that will more than likely be denied by PenFed.

 

Yeah, that's what I was thinking with my thin file, oh well. At least it's up for review, haha. That should provide a little fun drama in my life.

 

Even though I'm hoping it goes through, I've already set my sights on the BCE.

 

Here are my cards:

Macy's Card - $300 (Jan '12)

Capital One Platinum - $750 (Mar '11)

Chase Freedom - $4000 (Aug '12)

 

and no baddies!

 

Macy's Card - $300 (Jan '12) | Capital One Platinum - $750 (Mar '11) | Chase Freedom - $4000 (Aug '12)
Average: 0 years 7 months
Transunion: 747 - Transunion.com (5/23/12) | 729 - Credit Karma (9/23/12)
Last App: PenFed Platinum Rewards - 9/29/12
Mega Contributor

Re: App sent: PenFed Platinum Rewards - Considering: Amex BCE


tofferlin wrote:

 


LS2982 wrote:
 

PenFed is VERY strict about approvals. It looks like you have a thin file and that will more than likely be denied by PenFed.

 

Yeah, that's what I was thinking with my thin file, oh well. At least it's up for review, haha. That should provide a little fun drama in my life.

 

Even though I'm hoping it goes through, I've already set my sights on the BCE.

 

Here are my cards:

Macy's Card - $300 (Jan '12)

Capital One Platinum - $750 (Mar '11)

Chase Freedom - $4000 (Aug '12)

 

and no baddies!

 


You should be good for approval, but the new accounts recently opened may hurt you.

 

I would also consider calling the Cap1 exec. # and see if they can give you a CLI on that card. I PM'ed you.

 




EQ FICO 548 3/3/16
New Visitor

Re: App sent: PenFed Platinum Rewards - Considering: Amex BCE

Thanks for that awesome info, LS2982! Smiley Very Happy

Macy's Card - $300 (Jan '12) | Capital One Platinum - $750 (Mar '11) | Chase Freedom - $4000 (Aug '12)
Average: 0 years 7 months
Transunion: 747 - Transunion.com (5/23/12) | 729 - Credit Karma (9/23/12)
Last App: PenFed Platinum Rewards - 9/29/12
Established Contributor

Re: App sent: PenFed Platinum Rewards - Considering: Amex BCE

Do you have any idea as to what your actual FICO's might be?



Starting Score: EQ 609, EX 633(Fako), TU 700
Current Score: EQ 699, EX 758, TU 733
Goal Score: 720 across the board
Garden Club Member-GC Challenge: App free since 10/31/12 Smiley Wink
New Visitor

Re: App sent: PenFed Platinum Rewards - Considering: Amex BCE


gettnthere wrote:

Do you have any idea as to what your actual FICO's might be?


Unfortunately I don not. I can get the score Chase provided me with when I got the card (does that count?), but that'll have to wait until I get home to my apartment later.

 

Macy's Card - $300 (Jan '12) | Capital One Platinum - $750 (Mar '11) | Chase Freedom - $4000 (Aug '12)
Average: 0 years 7 months
Transunion: 747 - Transunion.com (5/23/12) | 729 - Credit Karma (9/23/12)
Last App: PenFed Platinum Rewards - 9/29/12
Valued Contributor

Re: App sent: PenFed Platinum Rewards - Considering: Amex BCE

 

I don't know if you'd be approved for a Blue series AMEX card at this point.  Even though you're handling you're credit well from what I read, AMEX (as well as PenFed) usually likes a little more history (AAoA and thicker file).  You might want to try for a Zync first with AMEX, it will get your foot in the door with them as well as lock in  your member since date if you want a Blue later. 

 

 Have you checked AMEX's offers page to see if anything shows up for you?  https://www304.americanexpress.com/credit-card/28000?linknav=us-CCSG-ProspectNav-SpecialOffers#!view...

 

Also, if you went for Zync and got it, you might be able to attempt the BCE right away if that's what you really want (some only get hit with 1 INQ for doing that, not the rule, just out of luck sometimes).

 

Your question about the INQ from PenFed (if it's denied, or not I spose too) affecting chances with AMEX (unless I missunderstood), shouldn't hurt you much.  PenFed almost never glances at EX which is where AMEX always looks first. 

 

Being you have an account with PenFed, they may give you the go ahead, but as LS mentioned, they tend to be very conservative (they're known as one of the toughest cards to get most of the time).

 

If your new job put you in the upper income area, you may be ok, that plays a big part with both lenders (any lender really lol).

 

Hope the additional info helps, also crossing my fingers for you on PenFed (They are really nice to deal with).

Valued Contributor

Re: App sent: PenFed Platinum Rewards - Considering: Amex BCE

what is your income if you dont mind me asking. 

i apped for chase freedom with 26k income and about 1.2 years of aaoa no baddies and only got 500 limit. had about 4 inquries before that though. 

 

your scores seem really high. 

i would say with only 7 months of aaoa amex usually likes a little more. 

 

like stated if you app for zync and get it go for the other. you might only get one pull. 

pre approval doesnt mean anything.

Current: Discover Fico 709 3/15 Walmart Fico 743 4/15

Inquiries (24 Months): EQ 6 TU 1 EX 6 | Most Recent: 4/09/2015
Over 12 Months:9


2015 Goals:
Lower Utility
Earn Cash Back

Amex Zync(Unicorn)
Chase Freedom$1500
Discover IT$7,400
Citi DC $10,000
Citizens Mastercard$7,000
Established Member

Re: App sent: PenFed Platinum Rewards - Considering: Amex BCE

Hey guys, I seem to have lost my account password. Silly me! I can make debt payments, but not keep track of password for accounts I made that day haha.

 

Thanks, RyVision! That's a lot of good info. Yeah, I know PenFed would be hard and so would AMEX. I think my credit is decent right now and I just want to try. If it fails, like I said, I would sit on my Chase Freedom for awhile and be plenty happy and just try again in 6 months or so.

 

To answer your question about AMEX offers I have received: I actually received an offer in the mail for AMEX Gold, and when I go to that website you linked, I get an offer for Blue Sky Preferred and Starwood Preferred. If I'm getting an offer for a Blue card, does that mean I might have a chance for a BCE?

 

creditnocash, I'm lucky, I started my job at 57k. Yeah, I feel the short history I have is killing me.

 

Anyways, I'm getting really antsy. It's still under review with PenFed for $9K. I wonder why they would start me off at so high. I'd be happy with 2k if it meant I could get the cards and those awesome rewards Smiley Happy. I filled up my gas tank today with my Chase Freedom as it's the last day, and all I could think about was how I wouldn't have to worry about that if I get my PenFed Platinum Rewards card haha!

Capital One Platinum $750 (3/11) | Macy's $2K (1/12)
Chase Freedom $4.5K (8/12) | Chase Sapphire Preferred $5K (11/12) | Amex BCE $12K (10/12)

TU: 751 (10/1/12 - Amex), 747 (5/23/12 - Transunion.com) | EQ: 718 (10/1/12 - myFICO)
Gardening since: 11/12/12