10-02-2012 04:22 PM
Does anyone know if PenFed CC is diffcult to obtain?
Yes. You need to have close to perfect credit.
I do have perfect credit no baddies at all on all 3 CRA. My only worries is the high ulti and recently app spree. My TU and EX FICO was at 717 before apping last week for 5 new cards. Any thoughts? Any chance?
Are you already a member of PenFed?
10-02-2012 04:28 PM
Check your credit report. I'm almost positive that they pulled your credit for you to be able to open an account with them. Call member services and ask them if they did. And in the case that they did, then they will not pull another report for at least 30 days of pulling the first, I talked to a rep and he said 60 days, but I'd err on the side of 30. In either case, applying wouldn't hurt because they already have your report pulled, if that is the case. I'd give them a call and ask. They're open forever also ;-)
10-02-2012 04:37 PM
Oh, I see now. Well the way I see it, you already took a hit for the application anyway, and they can either say yes or no. What does your applicaiton status say?
10-02-2012 04:48 PM
I will say this. They will not look at your 5 new accounts and high utilities favorably.
5 New accounts + high utilities = Pyramiding
10-02-2012 05:03 PM
I agree. There is no way you will get that card. PenFed is one of the hardest cards to get that there is. You can have an 800+ FICO and they will still put your app on hold, ask for 3 months paystubs, and ask you why there is an inq on your report from 8 months ago.
10-03-2012 07:22 AM
I didn't think it was an issue. Didn't know about the card initially. Applied for the Penfed 1.49% auto loan and when I called back to make sure they had the title and promissory notes and whatnot, the rep mentioned the Penfed Platinum card could be appled for without an additional credit pull. I said sure and she approved me instantly for $20k.
Copyright ©2001-2013 Fair Isaac Corporation.
All rights reserved.
IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions based on Experian or Equifax data (additional FICO® Score versions based on TransUnion data are not currently available on myFICO.com). 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.