High 600's and at least 2 years of credit
I think it's less about the score and more about the overall profile. I have way more than 2 years of history and scores were in the late 600's but still declined w/ no baddies. Better to have low utilization (Below 10% is ideal) and all positive accounts. You'll have a better shot that way.
"When you're fresh meat you kill... and give them something fresher" (Frank Underwood)
@B335is wrote:I wouldn't apply for one of their cards until your reports are completely clean with low utilization and inq. As far as the score, there's not an easy answer to that. I've seen them approve some people with high-600 Fico. I barely got approved ($1k limit) with a 785, but I have a lot of new accts.
From what i have heard they are one of the most conservative lenders out there, i probably wouldn't app if i had any inq or new account within the last year.
@longtimelurker wrote:
@baller4life wrote:
Yeah I'm waiting on Penfed as well. They will be my very first app when I come out of garden and Equifax is squeaky clean. If you even join without a clean report they dump you in the bad credit pool and it's hard to recover.Right and for them clean doesn't just mean no baddies. They are infamous for their "pyramiding debt" decline reason, which seems to just mean "some new accounts and/or inqs and we don't like that!"
Exactly! That's why I won't have any accts less than a year old when I join. 
