Credit Cards

[resilient]

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kwazziee wrote:

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LS2982 wrote:

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kwazziee wrote:

Does anyone know if PenFed  CC is diffcult to obtain?

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Yes. You need to have close to perfect credit.

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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?

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Are you already a member of PenFed?

[kwazziee]

I just joined a few days ago. ???????

[resilient]

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 ;-)

[kwazziee]

If they did pulled my CR before joining then it will not matter is I went ahead and appy but my concern is recent app spree and high utl.

[resilient]

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?

[OnTheRebound]

I will say this. They will not look at your 5 new accounts and high utilities favorably.

5 New accounts + high utilities = Pyramiding

[DaveSignal]

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.

[kwazziee]

From what you guys are saying I am too scare to even try and pull the trigger. I will wait until I get my ult. down to less than 10%. Thank you for chiming in on this.

[xi]

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.