Credit Card Center Advertiser Disclosure

Regular Contributor
Posts: 209
Registered: ‎08-26-2014

Re: PenFed Credit Union - APP results and FICO SURVEY

[ Edited ]

- What did you App for (CC, Auto...)? The works...(See below)

- Approved or Declined? Approved (Loan Officer)

- Date of app? Late July 2014 - Mid August 2014

- EQ FICO at app? 768

- # of Inquiries at app? 3

- Any Derogs at app: None

- Oldest Account Age? 13 years 2 months

- Newest Account Age? 1 month

- AAoA at app? 8 years

- Highest CL at app? 25k

- EQ Utilization Percentage? Between 50% & 80%

- Requested CL? (See Below)

- Instant Approval, LO Review or Decline? LO Review on all

- Income Verification Required? Yes

- Any Counter Offer from PenFed? No

- If declined, reason given? N/A

- Any comments you think helpful?

So the story goes like this, in early July I got into credit monitoring through the USAA 3 bureau report program and learned I had really good credit, this spurred me to learn more, read a tone of forums and begin researching the best way to consolidate my debt portfolio to reduce monthly payments and interest. After research, I found that a credit union would be the best way to turn my good credit to my advantage, and through research found that the best CU around to do this through was PenFed based upon their rates, and CC products available.


As 11 years active duty military, I qualified for a membership, so I opened a savings account and immediately applied for the Defender AMEX card to do CC debt consolidation. I was approved by a loan officer about 24 hours later for a 5k credit limit. I called customer services and asked for CL increase to 20K to allow for a BT and it was approved the next day. A week later after getting my card activated, I did the BT and realized this card was so sweet that I wanted some room to use it for bills and at Costco, and didn’t transfer the full amount I was intending, so I called back and asked for another CL increase to 25k to allow for another BT and was approved by a loan officer about 48 hours later. I then opened a checking account and applied for a 36 month auto re-finance (2010 vehicle) at 2.49% for 15k and was approved 24 hours later. Good experience on that, quick and easy. I then shot for the moon and figured I might as well try for the PenFed Platinum Rewards Visa Signature card while they were still working off the original Hard Pull, and I was approved for that at a 5k CL about 24 hours later. I didnt push my luck asking for more on that (yet) as my UTIL will probably be around the 500 a month mark.


All in all, I got everything I asked for, put my entire debt portfolio under PenFed and plan to do most of my banking and CC use with them. Great customer service, when I had to use it. I noticed every one of my requests went through a loan officer, but it was hassle free. Now im saving hundreds a month on interest rates and have a much lower use to limit ratio overall.


Update: On August 31st I used the PenFed car buying service to buy a new Honda at 22k, was approved by loan officer the next morning at 1.89% for 60 months. Special Labor day financing was just too good to pass up, and we needed a new car anyways. Once again, PenFed came through where USAA auto declined me and wouldnt reconsider. The dealer couldnt beat the rate either. PenFed used the same HP from July to approve me!


All told, PenFed has extended me 67k of credit in 5 weeks, all with minimal hassle. Total revolving util is now below 50%.

Gardening Since: 21 Jan 2017
USAA FAKO "Plus" \ FICO Score 8 (1 Apr)
Eq: 729 \ 808
Tu: 710 \ 790
Ex: 770 \ 809
FICO NextGen V2: 781 (Dec 1st 2016 - from PenFed)
Established Contributor
Posts: 1,015
Registered: ‎07-10-2014
0 Kudos

Re: PenFed Credit Union - APP results and FICO SURVEY

That is a great story. I just joined them and my scores are abou 760 EQ with 0 bas and about 9% CLU. I wonder which 
card to get to start my journey. I plan on getting a car loan with them like you did.

EX 786
EQ 777
TU 779

All Chp7, Judgements , CO's now legally clean from scores low 600's just using this forum
Chase Amzn 8.5k , Citi BB 3k, Citi Gdyr 5K, Amzn Store 12k, SallieMae 12k Amex BCE 29k , PenFed Promise 40k@8+% +10k PLOC@10%, NFCU member
Valued Contributor
Posts: 1,553
Registered: ‎10-21-2014
0 Kudos

Re: PenFed Credit Union - APP results and FICO SURVEY

llecs wrote:

hobojon wrote:

score_building wrote:

so even though you cancelled the loan it reports as a pif loan?

hobojon wrote:
I had a preapproval for their card show up online right after they pulled EQ for a car loan. I accepted the offer and they pulled TU as well. When I got the check for the car loan I cancelled the loan and sent the check back to them. I now have a paid in full car loan on my report for the next 10 years.

Yes, it reports as paid in full, closed, which is accurate. They gave me the loan and I paid it off. My last new car loan through NFCU 10 years ago I did the same thing although it wasn't on purpose. I got the check from them and went to the dealer with it. They had sold the vehicle I was going to buy so I returned the check and that loan was reported as paid in full, closed, and has been for 10 years. It just fell off of EQ and I expect it to fall off the other two shortly.


Message Edited by hobojon on 04-09-2009 01:40 AM


That's a fast way to lose points. Not only will it drop your AAoA and score, but it doesn't help in your mix of credit because it is reporting as closed.

not only that but auto loans have a 75 dollar origination fee so you are paying for the privelege of changing your mind or whatever is going on with this strategy. 

| Navy Cash Rewards VS | Chevron Advantage | Capitol One MC | EQ 668
| Lending Club Personal Loan | Elements FInancial FCU Auto Loan |
New Contributor
Posts: 60
Registered: ‎07-17-2015
0 Kudos

Re: PenFed Credit Union - APP results and FICO SURVEY

Posts: 76
Registered: ‎06-27-2013
0 Kudos

Re: PenFed Credit Union - APP results and FICO SURVEY

- What did you App for (CC, Auto...)?     Platinum Rewards Visa Signature

- Approved or Declined?                         Instant online Approval

- Date of app?                                       6/29/2016

- EQ FICO at app?                                670ish range

- # of Inquiries at app?                           2

- Any Derogs at app:                             10 student loan lates from 4 years ago and later

- Oldest Account?                                 8 yrs

- AAoA at app?                                     3 yrs

- Highest CL at app?                              $18k Discover

- Instant Approval, LO Review or Decline?  Instant

- Income Verification Required?                 Yes -NO

- Any Counter Offer from PenFed?             No

- If declined, reason given?

- Any comments you think helpful?

Starting Fico scores 6/29/1013
Experian 584 / Equifax 639 / TransUnion 598
Valued Member
Posts: 91
Registered: ‎09-02-2016
0 Kudos

Re: PenFed Credit Union - APP results and FICO SURVEY

Been lurking for a bit, first time poster.. 


I just opend the PenFed savings account, and tried to apply for joint credit, thinking my chances would be better. My TU is 668 & EQ 672 and it got declined for, collections, too many open balances i think, and something along the lines of, too few accounts paid as agreed.


Got instantly denied for the Cash rewards.. 


Tried again just after for the  Visa GOLD.. and got the LO thing..

Gardening Till 1/1/17...
.... Actually still gardening ( Today : 4/29/17 )

Established Contributor
Posts: 1,141
Registered: ‎02-07-2017
0 Kudos

Re: PenFed Credit Union - APP results and FICO SURVEY

Bumping this thread with my own recent loan info:


- What did you App for (CC, Auto...)?     Used auto loan

- Approved or Declined?                         Instant approval (loan officer; app actually started online but I decided to go apply in person)

- Date of app?                                       2/24/17

- EQ FICO at app?                                690 (a real surprise, thought it'd be at least 20 points lower)

- # of Inquiries at app?                           1

- Any Derogs at app:                             BK from 2014, student loan that was late a few years ago but is now current

- Oldest Account?                                 22 years

- AAoA at app?                                     8 yrs

- Highest CL at app?                              $3K Capital One MC unsecured

- Instant Approval, LO Review or Decline?  Instant

- Income Verification Required?                 Yes

- Any Counter Offer from PenFed?             No

- If declined, reason given?

- Any comments you think helpful?      I'm lucky to live in the DC area so have several PenFed branches to go to to do business in person (I went to the Pentagon City

                                                             branch near where I work), I think applying in person might have helped my approval odds but it's just a guess. YMMV.  Now

                                                             wondering if I should try for the Promise Visa with an EQ that's just 10 points away from "good" territory.

Rebuilding credit since 12/14 Ch7 BK discharge. FICO 9/13/17:TU 658/EX 694/EQ 688 FICO 8 or 667 FICO 9 (Penfed), VS 3.0 9/13/17: TU 704/EX 684/EQ 697. $800 Amazon Prime Store Card, $951 Cap One secured Platinum MC, $1200 Walmart Store Card, $2000 Apple FCU Platinum Visa, $3000 Penfed Power Cash Rewards Visa, $3500 Cap One Quicksilver MC, $3600 Discover It, $4300 Overstock Store Card, $10k PenFed used car loan, $5k Navient student loan. In the garden as of 7/2/17 AND THIS TIME I REALLY MEAN IT!!! (unless I get a preapproval I can't refuse...)
Frequent Contributor
Posts: 275
Registered: ‎01-01-2016
0 Kudos

Re: PenFed Credit Union - APP results and FICO SURVEY

- What did you App for (CC, Auto...)? Powercash Rewards CC & auto loan refinancing

- Approved or Declined? Approved

- Date of app? 02/25/2017

- EQ FICO at app? 691

- # of Inquiries at app? 35

- Any Derogs at app: none

- Oldest Account Age? 21 months

- Newest Account Age? 1 month.

- AAoA at app? 11 months

- Highest CL at app? $11500

- EQ Utilization Percentage? 6%

- Instant Approval, LO Review or Decline? Lo review

- Income Verification Required? No

- Approved limit ? 3500 cc & 15500 auto loan with 4.25% apr. ( I Didnt take the auto loan as i had lower apr with toyota)

QS 7K | Disc11.5k | Amex Evday 6.9K | AmexBluCsh 7.7K| NFCUcshrewrds15.5K | Penfed cshrewrds 5K | Consumers Cu Visa signature Cash rebate 6.5K | Blispay 2K| Citi Sim 7K | Citi Double cash 5.6k|
Chase Aarp 4.2K| Chase prime vis sig 3.5K | Walmart MC 10K |Ebay MC 5K| Amz Store CC 5K | Care credit 5.5K |Marvel MC 4K |Good yearCC 2.4k - Over 100k CL all together

FICO SCORES- TU 740, EQ 710, EX729 , AAOA 1 year. Inquiries TONS.
Established Contributor
Posts: 570
Registered: ‎03-17-2016

2009 data ? ? ? re: PenFed Credit Union - APP results and FICO SURVEY

Time for some FRESH data!


joe8185 wrote:

Bumping this (OLD) thread with my own recent loan info:



The thread located below is less than ONE year old, and does not contain data from 2009.


Many current participants with an endless amount of EXCEPTIONAL first hand Knowledge from their personal experiences, and I am sure most of them are still very active on this site.

Pentagon Federal Credit Union Data Share



05/03/16 Fico 8 Scores: EQ 546, TU 501, EX 548
09/01/16 Fico 8 Scores: EQ 662, TU 628, EX 657
10/04/16 Fico 8 Scores: EQ 692, TU 665, EX 686
01/15/17 Fico 8 Scores: EQ 706, TU 670, EX 687 * all Yellow / Good

Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.

† Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
‡ Credit cards for FICO Score ranges: The score ranges are guidelines based on internal myFICO analysis of actual applicant approvals, and having a FICO Score in a particular range does not guarantee you will be approved for credit cards recommended in that range. These ranges were not provided by any card issuer.

* For complete information, see the terms and conditions on the credit card issuer’s website. Once you click apply for this card, you will be directed to the issuer’s website where you may review the terms and conditions of the card before applying. While myFICO always strives to present the most accurate information, we show a summary to help you choose a product, not the full legal terms - and before applying you should understand the full terms of products as stated by the issuer itself.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on include a FICO® Score 8, along with additional FICO® Score versions. 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.