PenFed - Pending.....

[Anonymous]

We just joined PenFed two weeks ago.

Got our signature paperwork and I added my wife as a joint account owner. I decided to be proactive and sent them the last two years income tax returns as well as last two years W2 forms. I figured I would just send this in with the signature information hoping they would put it on file somewhere.

Decided today to app for the Rewards Visa. I completed the application and submitted. Resutling page started with "pending" $0.00. Just checked back and now it says "pending" $20,000.

You all that have been through this process - how should I read this since the amount went from "0" to "20K".

Good sign? Bad sign?

It would be great to get this card!

Thanks for any replies.

Ray

[tntexans72]

I would say your $20K richer....or $20K of credit available....Congrats !

[Anonymous]

I am nervous about this one!

It would sure be a great card to have! 

5% on gas at today's prices would be sweet considering we have three cars to feed!

Ray

[tntexans72]

With a Fico score of 830, I am surprise they didn't limo service the card to your front door.

[Anonymous]

I could only wish for that! But, it is a goal.

We are in the 760's last I checked and that was before the first of this year. Have not checked since.

Based on all factors, we have one remaining card with a high balance on it. All others are now down to zero and we send all available money to this last card.

So, that high balance might bite me.

Ray

[DI]

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@Anonymous wrote:

I could only wish for that! But, it is a goal.

We are in the 760's last I checked and that was before the first of this year. Have not checked since.

Based on all factors, we have one remaining card with a high balance on it. All others are now down to zero and we send all available money to this last card.

So, that high balance might bite me.

Ray

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PenFed is running a 0%APR no transfer fee for the life of the balance on all its cards. So if you get approve you may just very well get it in good timing. 

[Anonymous]

I know - and I missed that when I app'd....... Dang it!

I sent them a note referencing the application number and told them if approved, I want to balance transfer.

So - maybe. That "pending" is killing me right now!  LOL!

Ray

[Anonymous]

Update:

Approved for $20,000! Subject to income verification...

"COMMENTS:  Please send a copy of your two (2) most recent paystubs to PenFed via fax at 1-800-278-2212 or 1-800-557-7328.
BOTH PLEASE SEND A COPY OF YOUR TWO (2) MOST RECENT PAYSTUBS VIA FAX
AT 1-800-278-2212 OR 1-800-557-7328"

So we will do this and enjoy the rewards! When I applied, I under stated our income.

Funny though, I though I would cover this track with the paperwork that I already sent them......

Ray

[DI]

---

@Anonymous wrote:

Update:

Approved for $20,000! Subject to income verification...

"COMMENTS:  Please send a copy of your two (2) most recent paystubs to PenFed via fax at 1-800-278-2212 or 1-800-557-7328.
BOTH PLEASE SEND A COPY OF YOUR TWO (2) MOST RECENT PAYSTUBS VIA FAX
AT 1-800-278-2212 OR 1-800-557-7328"

So we will do this and enjoy the rewards! When I applied, I under stated our income.

Funny though, I though I would cover this track with the paperwork that I already sent them......

Ray

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Congrats!!

[Anonymous]

Thanks!

This will be great... Now I just have to find a fax machine! LOL - no phone line at home.

For $20k, I will find something!

Got to stop now - this stuff is addicting!

This month me:

1. AMEX Zync - approved.

2. Target Red Card - approved / $2500

3. Discover More - approved / $1500

4. Barclaybank iTunes Visa - approved / $2200

5. Home Depot - approved / $2000

6. PenFed (joint) - approved subject to income (not worried)/ $20,000

Wife:

1. AMEX Blue Cash - approved / $2000

2. Discover More - approved / $1000

Time to fly under the radar for a while - LOL

These new approvals bring out total credit to just under $90,000.00. Wow, I never thought we would see that day!

Now, once the pay stubs are at PenFed and the credit card is done, I think I will apply for a personal line of credit since we do not have one of those.

Ray