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New Contributor
NEEDCREDITADVISE
Posts: 72
Registered: ‎05-07-2008
0

PenFed question ?????

I was approved for 1  mastercard ($5,000)  yesterday and wondering should I app another one ? being that they use the same report for 90 days
Thanks for everyone's input..........
Valued Contributor
thrasher865
Posts: 1,157
Registered: ‎05-21-2008
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Re: PenFed question ?????

[ Edited ]
If you're a myfico addict and you can get a CC application in without a hard inquiry...  That's a no brainer! lol!
 
But how many cards do you have?  What are your balances and limits, etc?  Any other types of debt?


Message Edited by thrasher865 on 06-04-2008 05:44 AM

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Current Score: EQ: 749 - TU: ---
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New Contributor
NEEDCREDITADVISE
Posts: 72
Registered: ‎05-07-2008
0

Re: PenFed question ?????

I curently have 1 cap1 2,000 cl 300.00 bal  Dillards 1,300 cl )200.00 bal  carecredit 1,000 cl ) 340 bal  Orchard 750.00 cl ) 0bal 2 installments no baddies and 1 inq
Thanks for everyone's input..........
Valued Contributor
thrasher865
Posts: 1,157
Registered: ‎05-21-2008
0

Re: PenFed question ?????

From what I can tell, your utilization with your new card having 0 balance is 8.5%, so you don't need any more credit to help your score.  I guess it is just up to how you feel about it.  Since thats your highest limit card, I know I would be tempted to app for another similar card.  It's a good feeling when you get a card with a starting CL higher than any other CL in your wallet.

Starting Score: EQ: 665 - TU: 687
Current Score: EQ: 749 - TU: ---
Goal Score: EQ: 760 - TU: 760


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Frequent Contributor
firstinlastout
Posts: 339
Registered: ‎12-12-2007
0

Re: PenFed question ?????

How long did it take before you were approved ? It's been 60 hours for me and nothing from them despite two phone calls and 1 email.   I'm starting to think they stink and are overhyped.
God is keeping score....be good to others.
Valued Contributor
Scamp
Posts: 2,791
Registered: ‎03-18-2007
0

Re: PenFed question ?????



firstinlastout wrote:
How long did it take before you were approved ? It's been 60 hours for me and nothing from them despite two phone calls and 1 email.   I'm starting to think they stink and are overhyped.


FILO, good things are worth waiting for - PenFed is extremely conservative and careful about whom they approve, and for what - the fact that your app is still pending to me suggests you aren't an automatic 'no'.  I got my denial within about 36 hours, both on my original app and on trying to recon my first denial.
 
Patience!! :smileywink:
 
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02/12/09 EX: 701 / 02/08/10 EQ: 719 / 02/08/10 TU: 723

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