turtleaben,I have a question about the Pen Fed Approval, have you been using the PenFed checking or savings account or did you just leave it dorment?
Same thing happened to me today..
Penfed VISA Platinum Cash Rewards Amount Requested : $5,000.
Status: REQUEST DENIED
Equifax FICO : 783
Number of your accounts with a missed payment : 0 accounts
Your oldest account was opened : 21 Years, 6 Months ago
Average age of your accounts : 11 years
Ratio of your revolving balances to your credit limits : 1%
Total owed on revolving accounts : $13000 (Used a $20K 0% for 9months credit card check 3 months ago. Paid back $7,000 so far)
3 inquiries in the last 12 months
1) 12/13 - PenFed - New account
2) 12/02 - AMEX - Costco TrueEarnings Card
3) 07/10 - My local bank, refinance mortgage
I even got a few 20k 3years CD with them
Wait, wait... Hold the phone....
You have $1.3 million total credit limit?
Now I don't feel so bad about being denied! Was denied for a CC through them, but I still set up the account. Maybe in a year or so they'll send something my way.
Just thought I'd mention that even though PenFed denied me the first time, a few months later I logged in and they had pre-approvals for me. They gave me the platinum cash card with $15k limit.
So even if PenFed denies you, check back in with their website for pre-approvals (I believe they are updated quarterly).
That's not the only part they are picky about!! Get this!
I applied for and was approved for a visa platinum rewards card with a 9500 dollar limit. No problem, right online.
I then applied for a personal line of credit at 25k thinking I wouldn't get it all, but may as well go high and let them counter offer. I was in a hurry due to upcoming travel so I proactively sent in my 2 most recent paystubs from both of my jobs.
It took them 1.5 business days to get to the application. That's fine, they are backed up, whatever. They called my DAD instead of ME! Why? Well my dad and I have the same name, differnet middle name though, so I am not a Junior. I applied with MY SSN, MY address, MY FL drivers license(which btw I gave them 3 times), all of MY information. I pull my EQ everyday, I know he is not listed on my report and I know they pulled my report because of the inq! So they found some public database and apparently got ahold of his phone number(he is in WI, I'm in FL) and called him. Alarmed, he naturally said "no I didn't apply for any credit" So they flagged my application as fraud and withdrew it!! Of course he didn't apply, THE APPLICATION WAS NOT WITH HIS INFO! It's not like I used his SSN, Bday, etc to make the application! Finally after talking wtih a rep for 20 minutes convincing him that I'm who I say I am and not trying to fraud my own father, I got hte app put back in, but he said it has to go to their high level fraud department. Then it took another business day for them to get to the app again. I sent them my passport, FL ID, SSN card, proof of my travel, proof of my employment, and proof of income!
I left a message with the lady who called my dad(he gave me her info) to call me back, which she never did, then denied me for too many inq(2) etc etc. Whatever. That was Thursday
Now I checked today and noticed the Visa card they already approved me for has been closed! I called and talked to a rep who said it's going through a fraud check and they are reviewing it. I said please give me the number of someone to call in the fraud department on monday so I can TALK to someone who makes these decisions and explain things. I'm supposed to be using that card(which I paid for express delivery on) for travel in 7 days(It was 12 days as of my approval) She said she will follow up on Monday and call me back. I emphasized I will send whatever documents they want and I will send them fast! I just need to get the card before I leave! WHAT A MESS!
If I don't get a call on Monday I'm just going ot call and ask for a supervisor immediately. I'm not explaining anything to anyone anymore. I've had enough! I'm an understanding person, I've worked phones, I've taken CC apps, but there is a limit to what I can take.
Anyway, just thought I would share my story.
Holy cow, a 2008 thread! That might be a record!
Welcome to the forums, and yikes, what a mess. I hope you can get someone to listen to you.
A lot of lenders use Lexis Nexis and similar databases, and they screw this stuff up A LOT. No excuse for it, IMO, but it does happen.
edited: just realized this was an old thread.
I have also felt the cold sting of a PenFed denial.
Was looking at my account and noticed the signature card was never filled out. I'll fax it in but really wouldn't be a good candidate for them until next year.