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@-Cain- wrote:
@Anonymous wrote:
@-Cain- wrote:
@Involver wrote:
@baller4life wrote:
@Involver wrote:Got preapprovals as well for pretty much everything they offer. Will probably take a PLOC or pad my revolver. Joined April 14.
Is this your first time getting them?
Yep.
Joined with clean reports and a small deposit. Used the revolver pretty heavily for a few months back in mid-2014 but haven't touched it since.
I've accumulated a lot of new credit within the past 15 months so I'm surprised I got these offers, as they're notoriously anti-Egyptian.
What does "anti-Egyptian" mean? I've seen it a few times on the board. It's not literal, right?PenFed uses the excuse of 'pyramiding debt' for declines. Means that you have too much new credit. Pyramid=Egyptian thus the play on words
Thanks for the clarification Irish! I felt kinda silly asking, lol...
You're welcome. I had no idea what it was at first.
@Anonymous wrote:
@CreditDunce wrote:
@Anonymous wrote:
@CreditDunce wrote:Just a data point... I joined Penfed last December. Just to have something with Penfed, I requested a 5k thrifty account when joining. At about the same time, I more than doubled my total number of credit cards by adding 7 CC's. I also have 5 credit cards at one year old.
I didn't have any offers last quarter, but today I have offers for most of their stuff. It varies from 20k CC offers to 50k used/new auto loans. I do have a clean credit report. Although, I think I had about 9 credit cards reporting a statement balance when they pulled my credit last month. Some of the balances were fairly high, but the overall util was less than 5%. My NextGen scored dropped about 15 points from last quarter (due to all of the balances reporting, last quarter I was playing it safe and only letting two cards report small balances).
What is your NextGen score?
Back in Feb is was 814. Last month it dropped to 799.
Hmm. Mines at 795 (didn't change) and didn't get by offers. Oh well, guess I'll have to see what happens in 4 months
To be honest, I am very surprised they offered me anything. I would have thought I have too many new accounts. In any case, I am not going to apply for anything from Penfed in the next couple of years. Too much of my score is based on Amex MSDs. Under manual review it wouldn't look so good.
Good luck next quarter.
I just logged into my Penfed online. They offered me more pre-approval offers.
Penfed is not making it easy... first pre-approvals. Now they are offering $100 sign-up bonuses for several of their credit cards (Plat Rewards, Plat Cash Rewards, Promise, Gold, etc) with $1500 spend in 90 days. I just don't see a card that meets my needs... I am sure that others will be applying, though. Good luck to anyone who decides to app!