Penfed stated that they are pulling everyone's credit score every month. As they put it, they are "monitoring" credit reports monthly. Every three months, they do a full pull.
Anyone with less than a 700 FICO score will loose available credit REGARDLESS of their behavior with Penfed, the utilization, the payment history with every creditor, lack of collections, lack of public records. It doesn't matter what is going on with your credit, if the day they pull your FICO credit score and it's below 700, you loose, no-give-me backs!
They did that to me two weeks ago. Of course, there is no explaination as to why my FICO score plummented more than 100 points in a month. Experian says they won't discuss it with me unless I sign up for their credit monitoring program. (No lates EVER, no CA's, no public records, less debt than the month before, utilization 5% or less...hello? Where's the credit risk?)
Funny thing - I went in today and gave them money. The teller was very adamant that I should accept a higher credit limit on my card!
She was VERY serious. The screen in front of her pushed her to get me to accept it. I declined. They are not getting my IRA contribution come January! (Neither is anyone else, but that is beside the point! Whatever it takes to legally stay on a cash basis...and NOT go into debt, I'm doing it.)
Yeah, my FICO score took a hit from their actions. But my pride felt it more than anything. In the big picture though, I don't need the credit that badly and should never depend on it. The little debt I have (mostly medical) is being paid off as quickly as possible and that does not report on my credit report. My one cc is used, and paid in full, for basics.
Focus, focus, focus -- what is the important thing here? 
I assume by full pull you mean hard pull, if so than in my 1.5 years with PenFed I should have 6 hards from them, but I do not. Strange.
@IOBA wrote:Penfed stated that they are pulling everyone's credit score every month. As they put it, they are "monitoring" credit reports monthly. Every three months, they do a full pull.
Anyone with less than a 700 FICO score will loose available credit REGARDLESS of their behavior with Penfed, the utilization, the payment history with every creditor, lack of collections, lack of public records. It doesn't matter what is going on with your credit, if the day they pull your FICO credit score and it's below 700, you loose, no-give-me backs!
They did that to me two weeks ago. Of course, there is no explaination as to why my FICO score plummented more than 100 points in a month. Experian says they won't discuss it with me unless I sign up for their credit monitoring program. (No lates EVER, no CA's, no public records, less debt than the month before, utilization 5% or less...hello? Where's the credit risk?)
Funny thing - I went in today and gave them money. The teller was very adamant that I should accept a higher credit limit on my card!
She was VERY serious. The screen in front of her pushed her to get me to accept it. I declined. They are not getting my IRA contribution come January! (Neither is anyone else, but that is beside the point! Whatever it takes to legally stay on a cash basis...and NOT go into debt, I'm doing it.)
Yeah, my FICO score took a hit from their actions. But my pride felt it more than anything. In the big picture though, I don't need the credit that badly and should never depend on it. The little debt I have (mostly medical) is being paid off as quickly as possible and that does not report on my credit report. My one cc is used, and paid in full, for basics.
Focus, focus, focus -- what is the important thing here?
