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PenFed Personal Line of Credit

Regular Contributor

PenFed Personal Line of Credit

Hi,

 

Do you know what credit score is needed to be approved for a Line of credit with PenFed?

-Current Score: TU 719 EQ 705 and EX 708 1-11-15
-My Goal: 740+ on all 3
-My wallet:
NFCU Cash Rewards 17k,Fidelity Amex 10.1k, QS 8k, DCU Visa Platinum 7.5k, Chase Freedom 7k, Penfed Promise 6.5k, Amex BCE 6k and Citi 5K.
Message 1 of 6
5 REPLIES
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Valued Contributor

Re: PenFed Personal Line of Credit

PenFed uses one credit pull for all credit products. But PenFed could be bipolar because they could deny someone with a high FICO and "too many inquiries" while approving someone with a lower FICO. But I was approved for a personal LOC and CC with them this year with a FICO about 720-730.

 

Good luck and keep us posted if you decide to apply!

 

Read here about people who got denied or approved with PenFed http://ficoforums.myfico.com/t5/Credit-Cards/PenFed-Credit-Union-APP-results-and-FICO-SURVEY/m-p/476...


Last Pulled EQ: 809
Last Credit Card App: 02/05/2016
Last CLI: 02/06/2016
Find Me: Gardening
Message 2 of 6
Established Contributor

Re: PenFed Personal Line of Credit

penFED is FED up with point chasers, churners, and people who just want limits for the hell of it. anyways they just blame everything on "pyramiding scheme" but PenFED doesn't have anything I want anyways =)

 

Chase Ink > everything PenFED. Smiley Wink


total credit limits $108,400 Credit scores Ex 728 EQ 738 TU 758
Message 3 of 6
Established Member

Re: PenFed Personal Line of Credit


distantarray wrote:

penFED is FED up with point chasers, churners, and people who just want limits for the hell of it. anyways they just blame everything on "pyramiding scheme" but PenFED doesn't have anything I want anyways =)

 

Chase Ink > everything PenFED. Smiley Wink


In other words they hate Egyptians. PenFed knows that some of us play the credit game and they want no part of it. They recently shot me down for an auto loan and a CLI with the same "pyramiding debt" excuse despite my EQ Fico been 761 at the time of application and less than 1% util showing. I opened 9 accounts over the last year so I know that's what their beef is. Cat LOL

Message 4 of 6
Regular Contributor

Re: PenFed Personal Line of Credit

wow thats crazy. I might have a better shot with DCU

-Current Score: TU 719 EQ 705 and EX 708 1-11-15
-My Goal: 740+ on all 3
-My wallet:
NFCU Cash Rewards 17k,Fidelity Amex 10.1k, QS 8k, DCU Visa Platinum 7.5k, Chase Freedom 7k, Penfed Promise 6.5k, Amex BCE 6k and Citi 5K.
Message 5 of 6
Valued Contributor

Re: PenFed Personal Line of Credit


distantarray wrote:

 

Chase Ink > everything PenFED. Smiley Wink


Except for buying gas or groceries!

Message 6 of 6