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Registered: ‎04-22-2008
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PenFed Denied me, but got a USAA AmEx & Question

I'm happy and sad!

PenFed said my debt to income ratio is too high.

USAA gave me an 8000 CL

Since I have 60 days until PenFed would do another pull for a Recon, if I pay off my GEMB Bal to zero (owe 2264 of a 15000 cl) and pay off my Citi installment loan (owe 1537 of a 5000 loan), do you think my recon to PenFed would go through????

I'm so new to this, please advise. :smileyhappy: As well, i'm really happy that USAA gave me a card!!! Instantly!!!! I have been a member for about 4 years!
FICOs: EQ - 744 (9-14-2013) TU - 729 (9-20-2013) (679 - 9-7-2013) EX - waiting a month or so

Citi IDMon FAKOs (09/14/2013): EQ 761 EX 739 TU 731

Citi TY 12k; RBFCU Preferred MC 12k; USAA AmEx 8k; HomeDepot 5k; Barclays Apple 4.7k; RBFCU LoC 1k; Kohls 1k; Target Red $500
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Re: PenFed Denied me, but got a USAA AmEx & Question

They would have no way of verifying the balance changes other than to do another pull of your CR, so don't worry about the 60 days or 90 days, whichever it is.

Starting Score: EQ: 665 - TU: 687
Current Score: EQ: 749 - TU: ---
Goal Score: EQ: 760 - TU: 760


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Valued Member
Posts: 26
Registered: ‎04-22-2008
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Re: PenFed Denied me, but got a USAA AmEx & Question

even if i get PIF letters from GEMB and Citi?
FICOs: EQ - 744 (9-14-2013) TU - 729 (9-20-2013) (679 - 9-7-2013) EX - waiting a month or so

Citi IDMon FAKOs (09/14/2013): EQ 761 EX 739 TU 731

Citi TY 12k; RBFCU Preferred MC 12k; USAA AmEx 8k; HomeDepot 5k; Barclays Apple 4.7k; RBFCU LoC 1k; Kohls 1k; Target Red $500
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Re: PenFed Denied me, but got a USAA AmEx & Question

hmm I dont know.  Might work.

Starting Score: EQ: 665 - TU: 687
Current Score: EQ: 749 - TU: ---
Goal Score: EQ: 760 - TU: 760


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Re: PenFed Denied me, but got a USAA AmEx & Question


deskjockey101 wrote:
I'm happy and sad!

PenFed said my debt to income ratio is too high.

USAA gave me an 8000 CL

Since I have 60 days until PenFed would do another pull for a Recon, if I pay off my GEMB Bal to zero (owe 2264 of a 15000 cl) and pay off my Citi installment loan (owe 1537 of a 5000 loan), do you think my recon to PenFed would go through????

I'm so new to this, please advise. :smileyhappy: As well, i'm really happy that USAA gave me a card!!! Instantly!!!! I have been a member for about 4 years!


Don't worry about paying off the installment loan, unless they specifically said it was an issue. That's usually over in a different category.

As for being able to show them an updated statement, that might work.

I'd give them a call and ask specifically whether they're looking at your loan balance as well, and if there's anything besides maybe the loan and the GEMB that bothered them.

Congrats on the USAA card! Love 'em, love 'em, love 'em. If they were the only bank I had, I'd still be fine. Well, if they had the equivalent of the PenFed gas card.

Good luck on the recon!
* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007
Valued Member
Posts: 26
Registered: ‎04-22-2008
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Re: PenFed Denied me, but got a USAA AmEx & Question

Thanks for the reply! :smileyhappy:

As of now, I bought a home in Nov 07 (owe 89500)

I have a 16500 balance on a vehicle loan (24000 starting out)

1550 balance of a 5000 installment loan with Citi

2264 owed on a GEMB card

I make about 42850 a year (reportable income) and am single.

I just don't see how they came back with a debt to income ratio was all jacked up... i'm hoping by PIF'ing the 2264 of GEMB and the 1550 with Citi i can ask for a recon...

:/
FICOs: EQ - 744 (9-14-2013) TU - 729 (9-20-2013) (679 - 9-7-2013) EX - waiting a month or so

Citi IDMon FAKOs (09/14/2013): EQ 761 EX 739 TU 731

Citi TY 12k; RBFCU Preferred MC 12k; USAA AmEx 8k; HomeDepot 5k; Barclays Apple 4.7k; RBFCU LoC 1k; Kohls 1k; Target Red $500
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Registered: ‎04-20-2007
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Re: PenFed Denied me, but got a USAA AmEx & Question

[ Edited ]

deskjockey101 wrote: Thanks for the reply! :smileyhappy: As of now, I bought a home in Nov 07 (owe 89500) I have a 16500 balance on a vehicle loan (24000 starting out) 1550 balance of a 5000 installment loan with Citi 2264 owed on a GEMB card I make about 42850 a year (reportable income) and am single. I just don't see how they came back with a debt to income ratio was all jacked up... i'm hoping by PIF'ing the 2264 of GEMB and the 1550 with Citi i can ask for a recon... :/
Hopefully the new account with USAA won't hurt you. While I was denied for a CLI last year due to being Egyptian they did accept a faxed copy of my Equifax Credit Watch Gold report with all the updated balances. Might work for you it can't hurt to ask. They probably will want another pull though. How much did you ask for? New car new house new USAA credit card. Might be tough sledding but good luck.

Message Edited by smallfry on 06-18-2008 04:25 PM
Established Member
Posts: 28
Registered: ‎01-07-2008
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Re: PenFed Denied me, but got a USAA AmEx & Question

smallfry, why do you say you were denied because you were Egyptian?
Valued Member
Posts: 26
Registered: ‎04-22-2008
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Re: PenFed Denied me, but got a USAA AmEx & Question

pyramiding debt
FICOs: EQ - 744 (9-14-2013) TU - 729 (9-20-2013) (679 - 9-7-2013) EX - waiting a month or so

Citi IDMon FAKOs (09/14/2013): EQ 761 EX 739 TU 731

Citi TY 12k; RBFCU Preferred MC 12k; USAA AmEx 8k; HomeDepot 5k; Barclays Apple 4.7k; RBFCU LoC 1k; Kohls 1k; Target Red $500
Senior Contributor
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Re: PenFed Denied me, but got a USAA AmEx & Question



deskjockey101 wrote:
pyramiding debt


Actually I was pyramiding available credit. My balances were 0. They told me to show 6 months payment history and apply again at that time. Got my CLI increased at the six month mark.
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