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Senior Contributor
txjohn
Posts: 4,214
Registered: ‎09-12-2008

Re: Just App'ed PENFED for $25K

Thanks!

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09/03/2009 TU: 777, EQ: 776 ($8 balance on an account dropped me out of 780's)
03/28/2009 TU: 814, EQ: 810, EX: 781 (02/12/2009)
05/18/2005 TU: 563, EQ: 580, EX: 549
Senior Contributor
txjohn
Posts: 4,214
Registered: ‎09-12-2008
0

Re: Just App'ed PENFED for $25K

Whoops.  My EQ file was "locked" when I app'ed, so I got a "comment" back stating to either provide a pin or notify EQ to unblock.

 

I had all ready done so, called PenFed, they notified loan officer who said they would try to get decision in 24 hours, but are busy and could take up to 3 days.

 

We'll see....gee I hope it takes 3 days :smileytongue: 

Credit Scoring 101 - Tuscani   *  Guide to Common Abbreviations
Frequently Requested Threads * FICO High Achievers  *  FICO Score Estimator


09/03/2009 TU: 777, EQ: 776 ($8 balance on an account dropped me out of 780's)
03/28/2009 TU: 814, EQ: 810, EX: 781 (02/12/2009)
05/18/2005 TU: 563, EQ: 580, EX: 549
Valued Contributor
Guardian
Posts: 1,148
Registered: ‎04-23-2008
0

Re: Just App'ed PENFED for $25K


txjohn wrote:

Whoops.  My EQ file was "locked" when I app'ed, so I got a "comment" back stating to either provide a pin or notify EQ to unblock.

 

I had all ready done so, called PenFed, they notified loan officer who said they would try to get decision in 24 hours, but are busy and could take up to 3 days.

 

We'll see....gee I hope it takes 3 days :smileytongue: 


You are welcome and yeah that's probably why you didn't get an instant decision but it will take a few days and they will clear it up but remember that from the day I asked, got approved until I got my card (3 days ago) it been nearly a month. So they are not that 'quick' if you will but they will get it done.


Common Abbreviations|FDCPA|FCRA
Take the FICO Fitness ChallengeStarting Score: TU:695 - EQ:719 - EX:630
Current Score: TU:712 - EQ:755 - EX:712
Goal Score: TU:800 - EQ:800 - EX:800


Senior Contributor
txjohn
Posts: 4,214
Registered: ‎09-12-2008
0

Re: Just App'ed PENFED for $25K

Okay, the status on my application is still pending, but COMMENTS now say: 

 

COMMENTS:  EMPLOYMENT VERIFICATION
NEED LAST 2 PAYSTUBS FOR VERIFICATION OF INCOME

 

Hopefully this means that I am approved pending income verification, otherwise if they didn't like the application I wouldn't think they would waste time asking for pay stubs.

 

Anyone think my theory holds water? 

 

So, I faxed in my paystubs a little bit ago and we'll see what they say.  Anyone know how long from request of income verification till they usually make final decision?

 

Guardian - I didn't get an email like you did....the comments in my application status on penfed.org is the only place I found the request....and they asked specifically for 2 pay stubs.

Credit Scoring 101 - Tuscani   *  Guide to Common Abbreviations
Frequently Requested Threads * FICO High Achievers  *  FICO Score Estimator


09/03/2009 TU: 777, EQ: 776 ($8 balance on an account dropped me out of 780's)
03/28/2009 TU: 814, EQ: 810, EX: 781 (02/12/2009)
05/18/2005 TU: 563, EQ: 580, EX: 549
Valued Contributor
Guardian
Posts: 1,148
Registered: ‎04-23-2008
0

Re: Just App'ed PENFED for $25K

[ Edited ]

Interesting, I think if you can provide that information and they consider it sufficient, then they will approve and send it out to you. THis means that is tentatively approved but awaiting final "underwriting" if you will.

 

I am surprised that I got that email and you didn't, only got it online huh? Weird. Let me ask you this, did you talk to someone when you applied or was it all online? Trying to see if there is a difference in how we did it and maybe why it was handled differently. Did you give them an email? If so did you check the SPAM folder to see if it got snagged?

 

Interesting...Thanks for sharing though, good to know.

 

ADD: It took them 2 days from the time I sent the verification to finalize and was told they were behind but will get it out in the next week and it did come shortly after that.

Message Edited by Guardian on 03-27-2009 01:14 PM

Common Abbreviations|FDCPA|FCRA
Take the FICO Fitness ChallengeStarting Score: TU:695 - EQ:719 - EX:630
Current Score: TU:712 - EQ:755 - EX:712
Goal Score: TU:800 - EQ:800 - EX:800


Established Contributor
YoungEntrepeneur
Posts: 586
Registered: ‎03-03-2009
0

Re: Just App'ed PENFED for $25K

It must feel good to have a PenFed card huh? I would definitely feel accomplished to have their card in my wallet knowing that it's a card not everyone can get approved for since it's for people with excellent credit. It would make me proud of all the hard work that went into building my credit.
Valued Contributor
Guardian
Posts: 1,148
Registered: ‎04-23-2008
0

Re: Just App'ed PENFED for $25K

[ Edited ]

YoungEntrepeneur wrote:
It must feel good to have a PenFed card huh? I would definitely feel accomplished to have their card in my wallet knowing that it's a card not everyone can get approved for since it's for people with excellent credit. It would make me proud of all the hard work that went into building my credit.

 

Yes its a nice card and they are a bit on the picky side but I am sure you can do it if you avoid some inquiries for a while, get your score up, make sure you have no baddies that are super hurting or get rid of them if possible. Its definately doable and ultimately worth it.
Message Edited by Guardian on 03-27-2009 03:11 PM

Common Abbreviations|FDCPA|FCRA
Take the FICO Fitness ChallengeStarting Score: TU:695 - EQ:719 - EX:630
Current Score: TU:712 - EQ:755 - EX:712
Goal Score: TU:800 - EQ:800 - EX:800


Senior Contributor
txjohn
Posts: 4,214
Registered: ‎09-12-2008
0

Re: Just App'ed PENFED for $25K

[ Edited ]

Guardian -

 

My entire application process was online.  I did not speak with a loan officer.  And my EQ file was "locked/frozen" at the time of app (I didn't realize this until then next day).  So, I had an inquiry hit EQ from Alliant by the time PenFed pulled my app (I app'ed Alliant a day after PenFed), but the freeze ended up reversing the order of pulls.  So, I had an Alliant inquiry that was 24 hours old when PenFed finally pulled.

 

So far I have not received any email from them of any kind, only the online confirmation pages and then the PenFed.org application status page.  I wonder if emails are not getting through to me for some reason?

 

Anyway...that's where it stands for now.  Drum roll still in process...... :smileytongue:

Message Edited by txjohn on 03-27-2009 01:33 PM

Credit Scoring 101 - Tuscani   *  Guide to Common Abbreviations
Frequently Requested Threads * FICO High Achievers  *  FICO Score Estimator


09/03/2009 TU: 777, EQ: 776 ($8 balance on an account dropped me out of 780's)
03/28/2009 TU: 814, EQ: 810, EX: 781 (02/12/2009)
05/18/2005 TU: 563, EQ: 580, EX: 549
Valued Contributor
Guardian
Posts: 1,148
Registered: ‎04-23-2008
0

Re: Just App'ed PENFED for $25K

That makes me think you would be more likley to get email notifications and I think somehow your email is not getting delivered. Check your spam folder/settings to make sure they are allowed. The send from @penfed.info @penfed.org and sometimes from @eugene.penfed.org (all the ones I have encountered so far, there might be more). Also I think you need to accept to receive information electronically for statments, so not sure if that applies to everything else too or not. I am set for 100% electronic communication, so I get things instantly.

Common Abbreviations|FDCPA|FCRA
Take the FICO Fitness ChallengeStarting Score: TU:695 - EQ:719 - EX:630
Current Score: TU:712 - EQ:755 - EX:712
Goal Score: TU:800 - EQ:800 - EX:800


Senior Contributor
txjohn
Posts: 4,214
Registered: ‎09-12-2008
0

Re: Just App'ed PENFED for $25K

Nope, emails come through fine.  When I just now went in and changed some information on my account profile, I got an email confirmation about those changes (chosen to receive electronic statements, online tax notices).

 

Also, I did find that I had in fact received orginal emails with a "DEAR NEW MEMBER" welcome email for joining PenFed and also another with a confirmation that I had established my online banking username and password.

 

But I received NOTHING about my Visa app, Pending status, Equifax unlock request, Request for income verification.....nothing at all.

 

On the PenFed.org status page the comments for EQ and Income verification are gone and now the app is pending without comment.

 

:smileytongue:

Credit Scoring 101 - Tuscani   *  Guide to Common Abbreviations
Frequently Requested Threads * FICO High Achievers  *  FICO Score Estimator


09/03/2009 TU: 777, EQ: 776 ($8 balance on an account dropped me out of 780's)
03/28/2009 TU: 814, EQ: 810, EX: 781 (02/12/2009)
05/18/2005 TU: 563, EQ: 580, EX: 549

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