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Frequent Contributor
brother7
Posts: 376
Registered: ‎02-06-2009
0

Re: I joined PenFed

Denied with scores nearly 700?  Did you get a reason?  You can find out on the PenFed site, under the "Apply Now" tab.

 

I was declined and was gonna apply again when my scores are 700+ but now I'm not so sure. What's a "safe" score with which to apply?


11/02/2012 Peak - EQ 790 (ScoreWatch EQ FICO)
07/07/2014 Current - EQ 794 (Walmart Discover TU FICO 08 Classic)
GOAL - 800! - App free since 03/13/2014
Regular Contributor
laila08
Posts: 198
Registered: ‎01-25-2008
0

Re: I joined PenFed

sorry you got denied for the visa card but at least you go your foot in the door. I am itching to try my app for them too but i have to get my util down before i even think about trying for them..i am hoping i look squeaky clean when they pull :smileyhappy:
apping spree or shopping spree...lesser of 2 evils???hmmm
Senior Contributor
score_building
Posts: 3,524
Registered: ‎01-10-2008
0

Re: I joined PenFed


brother7 wrote:

Denied with scores nearly 700?  Did you get a reason?  You can find out on the PenFed site, under the "Apply Now" tab.

 

I was declined and was gonna apply again when my scores are 700+ but now I'm not so sure. What's a "safe" score with which to apply?


even before they tightened standards about 3 mos. ago there were already several reports of denials in the mid 700's with long histories and low uti on clean reports.  it is not uncommon to see a candidate reapp several times until they've brushed up adequately enough to receive a nod from pen fed.   

 

i was denied last year with a cbr without a blemish in the past 5 years, (a couple of lates on a now current sl from more than 5 years ago) a 713 EQ and longish history oldest:  21years/ AAoA:  6years.

 

things they seem to particularly dislike: 

 

multiple EQ inqs

short histories

accounts less than two years old

high uti

FICOS:
06/13 EX 765 (PSECU) EQ 771 (DCU) TU 779 (Barclays)
Senior Contributor
score_building
Posts: 3,524
Registered: ‎01-10-2008
0

Re: I joined PenFed

that's a bummer, sorry to hear of the denial.  once you get the reasons perhaps you can brush up and reapp successfully in a few months, apparently many have got in upon brush up and reapp.
FICOS:
06/13 EX 765 (PSECU) EQ 771 (DCU) TU 779 (Barclays)

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