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I joined PenFed

Frequent Contributor

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?



06/30/2017 - EX 807 (Credit Scorecard EX FICO® Score 8, range 300-850)
07/20/2017 - TU 819 (Discover TU FICO® Score 8, range 300-850)
07/25/2017 - EQ 842 (Citi EQ FICO® Bankcard Score 8, range 250-900)
GOAL - 800! - App free since 12/13/2015
Message 11 of 14
Regular Contributor

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 Smiley Happy
apping spree or shopping spree...lesser of 2 evils???hmmm
Message 12 of 14
Senior Contributor

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

DCU EQ 5.0, Citi EQ 08 Bankcard, PenFed EX NG2
EX 08: AFCU, Amex, Chase, PSECU EX 98(?)
TU 08: Barclays, Discover
Message 13 of 14
Senior Contributor

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.
DCU EQ 5.0, Citi EQ 08 Bankcard, PenFed EX NG2
EX 08: AFCU, Amex, Chase, PSECU EX 98(?)
TU 08: Barclays, Discover
Message 14 of 14