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Regular Contributor
Posts: 128
Registered: ‎02-01-2013
0

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, DCU Visa Platinum 7.5k, Penfed Promise 6.5k, Amex BCE 6k, Fidelity Amex 5K, Capital one QS 5K, Chase freedom 4k, Citi 5K, Amazon Chase 3.5k, Express 1.95k
Valued Contributor
Posts: 1,524
Registered: ‎08-17-2008
0

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...


$100K in Credit
Last Credit Card App: 11/16/13
Established Contributor
Posts: 2,112
Registered: ‎09-25-2011
0

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. :smileywink:


total credit limits $108,400 Credit scores Ex 728 EQ 738 TU 758
Established Member
Posts: 106
Registered: ‎04-07-2011
0

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. :smileywink:


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. :catlol:

Regular Contributor
Posts: 128
Registered: ‎02-01-2013
0

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, DCU Visa Platinum 7.5k, Penfed Promise 6.5k, Amex BCE 6k, Fidelity Amex 5K, Capital one QS 5K, Chase freedom 4k, Citi 5K, Amazon Chase 3.5k, Express 1.95k
Valued Contributor
Posts: 1,673
Registered: ‎11-11-2012
0

Re: PenFed Personal Line of Credit


distantarray wrote:

 

Chase Ink > everything PenFED. :smileywink:


Except for buying gas or groceries!

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