@rightcoast wrote:Thats great! Did you do all of this online as well? That seems like a really good idea but Im sure scores were much higher than mine at the time. I am still rebuilding.
PenFed is not a good place for rebuilders, IMO.
It's a great place for people with good/great credit and low utilization. Can't remember when I joined but people were continually going ga ga over high limits and great low interest BT offers. Tons of people joined but really only people with excellent credit were able to take advantage of their offerings.
I've been a member for years and did the annual application as scores improved, hoping to save some money. After the third or fourth year I really felt like Charly Brown and they were Lucy, LOL! Even now, with perfectly clean credit, it's still unlikely they'd approve because of high utilization. That gold bar still hasn't managed to pop up. 
Starting Score: 675
@drkaje wrote:
PenFed is not a good place for rebuilders, IMO.
It's a great place for people with good/great credit and low utilization. Can't remember when I joined but people were continually going ga ga over high limits and great low interest BT offers. Tons of people joined but really only people with excellent credit were able to take advantage of their offerings.
I've been a member for years and did the annual application as scores improved, hoping to save some money. After the third or fourth year I really felt like Charly Brown and they were Lucy, LOL! Even now, with perfectly clean credit, it's still unlikely they'd approve because of high utilization. That gold bar still hasn't managed to pop up.
Totally agree, PenFed is not a good CU for rebuilders. I guess the only thing that drew me to join was their pre-approval process. One day when/if I get that nice looking pre-approval list on my account, I know I have accomplish something great when it comes to my credit.
@Datx wrote:
@drkaje wrote:
PenFed is not a good place for rebuilders, IMO.
It's a great place for people with good/great credit and low utilization. Can't remember when I joined but people were continually going ga ga over high limits and great low interest BT offers. Tons of people joined but really only people with excellent credit were able to take advantage of their offerings.
I've been a member for years and did the annual application as scores improved, hoping to save some money. After the third or fourth year I really felt like Charly Brown and they were Lucy, LOL! Even now, with perfectly clean credit, it's still unlikely they'd approve because of high utilization. That gold bar still hasn't managed to pop up.
Totally agree, PenFed is not a good CU for rebuilders. I guess the only thing that drew me to join was their pre-approval process. One day when/if I get that nice looking pre-approval list on my account, I know I have accomplish something great when it comes to my credit.
I've been waiting for that to happen since 10/03/08.
Well I personally joined PenFed recently to take the HP now, and at end of their year, when my inquries are down to zero ,and the two baddies I have on my report fall off in may I will be looking for that magically golden bar, and working on building a relationship with them untill then.
