PenFed Promise Visa

[MrCredit]

Anybody have any idea what kind of scores they want? Anybody recently approved for this card? I do not have the scores right now, but this card with the 48 month balance transfer is on my radar. Do they allow any collections that are old?

[daybreakgonesXe]

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@MrCredit wrote:

Anybody have any idea what kind of scores they want? Anybody recently approved for this card? I do not have the scores right now, but this card with the 48 month balance transfer is on my radar. Do they allow any collections that are old?

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PenFed is one of the tougher of the creditors, typically preferring 720+. They may not be keen about any collections, but if you have a very old and very thick file, they may be able to look past it. They also seem to not like new accounts/recent inquiries very much, often citing "pyramiding debt".

Good luck when you decide to go for it!

[takeshi74]

As stated above it's not just a matter of scores and they use the Nextgen model based on Experian IIRC.  They're generally regarded as conservative.  Can't say for certain on the question of collections but I'd guess collections will not help with them.

[Involver]

They pull Equifax exclusively. I wouldn't go near PenFed without a clean report. I got a Promise Visa earlier this year and my scores at the time were around 750.

[MrCredit]

I guess I will have some years before I can get that one. Thanks.

[dpride86]

i was approved 4 months ago for 6K with a score around 680-690. My UTL was 20%.

[hot4u]

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@daybreakgonesXe wrote:

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@MrCredit wrote:

Anybody have any idea what kind of scores they want? Anybody recently approved for this card? I do not have the scores right now, but this card with the 48 month balance transfer is on my radar. Do they allow any collections that are old?

---

PenFed is one of the tougher of the creditors, typically preferring 720+. They may not be keen about any collections, but if you have a very old and very thick file, they may be able to look past it. They also seem to not like new accounts/recent inquiries very much, often citing "pyramiding debt".

Good luck when you decide to go for it!

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Note: I can verify there tough but not inquiry sensitive as others

[1GaDawg85]

Pretty sure they value clean report versus long history