Credit Card Center Advertiser Disclosure†
02-23-2009 07:46 PM
After a year and two months of credit gardening, I officially made it to the 700 club a few days ago with a EQ score of 789, due to a derogatory SL being deleted and utilization down from 50% to 6%. My previous score was a 609!
Since joining this forum, and hearing all the good reviews, I decided to give Penfed a try not knowing if I'd be accepted or declined for something trivial.
Didn't know if i should apply online or walk into the local branch. I decided to go to the branch two miles away, given the good advice I received on here! It all went so fast but I do remember that the first thing that they asked for was a completed application that had a space for my SSN right at the top! Two minutes later was with the loan officer and she immediately said, "you have excellent credit". She never told me my score though. "If you didn't have good credit, I would have told you that there was nothing I could do for you. We are very conservative, which has changed more so in the last 3 months." I had to show my last two pay stubs.
VERY positive experience. She asked if I wanted a card. I acted a little hesitant at first but then quickly said "yes". She asked "how much do you want?" I drew a blank, didn't know what to say. She lightly suggested $5k. Based on my current DTI, I got the rewards card with a $4.5K limit, which is just fine for now. She said that I wouldn't be eligible for a limit increase for another year. She also asked if I already had a car and if I wanted overdraft protection, said "yes" to both!
Now I understand why this place gets such good reviews. But something tells me that had I applied online, I may have had a less rewarding experience.
02-23-2009 07:56 PM
02-23-2009 08:06 PM
Thx... The loan officer did mention that her chief rival is Navy, so they compete aggressively with one another.
The branch was slow when I first walked in but soon transformed into a respectfully quiet zoo of people everywhere. Right before I left, I asked if it is "always so busy?". The officer said "there's recession out there with the banks but not with us, we're doing great".
Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.† Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
* For complete information, see the terms and conditions on the credit card issuer’s website. Once you click apply for this card, you will be directed to the issuer’s website where you may review the terms and conditions of the card before applying. While myFICO always strives to present the most accurate information, we show a summary to help you choose a product, not the full legal terms - and before applying you should understand the full terms of products as stated by the issuer itself.
IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more
FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.