PenFed question ?????

[NEEDCREDITADVISE]

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

[thrasher865]

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

[NEEDCREDITADVISE]

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

[thrasher865]

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.

[Anonymous]

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.

[Scamp]

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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.

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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!!