Pen Fed Visa: I need some advice

[dizzier]

I'm really wanting to app for a PenFed visa card. My credit scores are very good (see sig line), but I'm concerned that my personal income may not be enough to get approved on my own. I've a grad student, so my income would be the amount of my stipend which is less than 30k. If I was to do a joint app with my hubby our income would increase to over 100k, but his credit scores are at or just under 700. He has some 60 and 90 day lates on his reports that date from 2007 or earlier. We tried GWs, but they were not interested in helping us out. His credit has been flawless since mid 2007. I don't know what to do. Should I apply on my own with my low income, or should I do a joint app with a higher income but my hubby's problematic credit history? Help!

[haulingthescoreup]

Good question, because I was under the impression that PenFed doesn't do joint apps. Maybe what I'm remembering is that they don't do HHI.

Has anyone gotten a joint (as opposed to AU) card from PenFed?

[Anonymous]

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@haulingthescoreup wrote:

Good question, because I was under the impression that PenFed doesn't do joint apps. Maybe what I'm remembering is that they don't do HHI.

Has anyone gotten a joint (as opposed to AU) card from PenFed?

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Yes, Joint "gas card" here for $10k since last July

[DI]

If your income is below $30k, PenFed will want a see a stable work history.   They may ask to fax paystubs before approval. 

[Jazzzy]

Our situation was similoar to yours when we applied. I was in grad school. I worked through my application on the phone with one of their reps, and I'm glad I did. My husband is self-employed, so we had to fax tax returns. They put the card in my name with him as an AU. I think my husband's score was a bit higher at the time than your husband's is, but my husband also had a couple of old lates. Very similar situation.

Good luck...we've been very happy with the card.

[Anonymous]

I just got the gas card.  I app'd online just for the savings account and had to call in to let them know when my credit report was thawed.  After my savings account was approved they asked me if I wanted to apply for anything else and I said, well, yes, I was interested in the gas card, and they did that app over the phone with no additional info needed for myself, but I gave them my DW's info so she could be joint.  The CSR couldn't approve me over the phone, but did say based on my credit score, EQ somewhere close to 800, that I would be approved.  Two days later I see online that the card was approved.

During my original app I gave them my employer info, but no wage info.  They asked for DW's employer, but no wage info.  I got the impression that they were not going to pull DW's credit report, but I haven't verified that yet.  I just received their "Authorization for Credit Card" form in the mail today.  It lists DW as joint owner and needs both our signatures.