PenFed Advice

[kevinjjc]

Why the PenFed Promise card? They have other credit cards that are better IMO. Definitely need to get her utilization down, either by CLI's and/or paying them down. As it stands right now, PenFed will deny her with the infamous "pyramiding debt" reason for denial.

[Dustink]

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@kevinjjc wrote:

Why the PenFed Promise card? They have other credit cards that are better IMO. Definitely need to get her utilization down, either by CLI's and/or paying them down. As it stands right now, PenFed will deny her with the infamous "pyramiding debt" reason for denial.

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Can you explain pyramiding debt?

[Dustink]

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@sosabe77 wrote:

It helps to set up direct deposit and build a relationship with the CU.

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Sounds like a good idea.

[kevinjjc]

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@Dustink wrote:

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@kevinjjc wrote:

Why the PenFed Promise card? They have other credit cards that are better IMO. Definitely need to get her utilization down, either by CLI's and/or paying them down. As it stands right now, PenFed will deny her with the infamous "pyramiding debt" reason for denial.

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Can you explain pyramiding debt?

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Take a look at this thread:

http://ficoforums.myfico.com/t5/Credit-Cards/What-does-quot-pyramiding-debt-quot-mean/td-p/1741498

[Dustink]

How can they tell for new customers though?

[nicholasyud]

sorry Dustink but there something i really want to confirm

is it One HP for membership ??

Another the HP for credit card and

another HP for morgate loan ???

[Dustink]

Not a member, but what I would assume is yes...HP for everything unless you ask specifically for the membership hardpull to count as a CC app ect.

[youngandcreditwrthy]

I think they use one HP for all products in the first 60-90 days or sthin lol

[newportguy]

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@youngandcreditwrthy wrote:
I think they use one HP for all products in the first 60-90 days or sthin lol

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It's the first 90 Days

[Dustink]

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@newportguy wrote:

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@youngandcreditwrthy wrote:
I think they use one HP for all products in the first 60-90 days or sthin lol

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It's the first 90 Days

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So they aren't HP happy like NFCU? lol