Penfed....Almost hit the submit button....

[bettercreditguy1]

Pen Fed takes the 5% discount off of your statement before they mail it. No hastle, no forms, no sign ups! Just plain routine and their customer service is like a four star resort!

[greeneman21]

Since I took a HP on 7/16 when I joined, I just applied here's what I got....

Decision

Your application has been referred to a Loan Officer to be considered for a loan amount of $5500.00.

Not sure if this is an approval or not, but I guess i'll find out soon enough.

[greeneman21]

Thank you guys for the advice.

[bettercreditguy1]

p.s. I became a member last year. They did a hard pull to open account and gave me a Visa Cash Back rewards card. About two months later, I apped for and was pre approved for $ X. limit towards a new vehicle purchase. No additional HP, mostly all completed via internet and snail mail. Just very organized and professional organization. Kinda like the difference of using a handyman and a real tradesperson. Good luck!

[ztnjpv]

07-29-2012 07:02 PM

Since I took a HP on 7/16 when I joined, I just applied here's what I got....

Decision

Your application has been referred to a Loan Officer to be considered for a loan amount of $5500.00.

Not sure if this is an approval or not, but I guess i'll find out soon enough.

....................................................................................................................................................

Good Luck. Like I said, you had a HP anyway when you joined  so you did no more damage in terms of inquiries if you are denied. Next time you look at your report (they look at Equifax), check out the date of your PenFed inquiry. I'm sure it'll be the date you joined and not the date you apped for the card. 

[ztnjpv]

Since I took a HP on 7/16 when I joined, I just applied here's what I got....

Decision

Your application has been referred to a Loan Officer to be considered for a loan amount of $5500.00.

Not sure if this is an approval or not, but I guess i'll find out soon enough.

....................................................................................................................................................

[wreith]

Since I joined late last month, and you all say the HP is good for like 60-90 days I bit the bullet.  I got the "your loan application has been forwarded to loan officer for the amount of 6500.  If I get it that will be my biggest CL and I may just forget all about amex cause I don't need it, I just want it .  Wonder how long it will take to find out.

[bettercreditguy1]

Allow about ten business days.

[ztnjpv]

You can follow the progress of the application on your PenFed account page. It also doesn't hurt to call to see if there is anything they need from you to complete the app.

When it says "transferred" , I beleieve that means it's approved. Not sure. At least it means a decision has been reached.

[iMacDrew]

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@greeneman21 wrote:

So I gotten 5 credit cards in the last 3 months and after seeing Penfed on Amazon's website for $50 amazon GC upon approval. 5,000 bonus points after first purchase AND 20,000 if $1,000 within first 3 months, I was so tempted, I filled out the app. Fate intervene, I had a sudden urge to take a quick wiz, stepped back from my laptop and quickly closed my browser right before hitting the submit button....I think those CC approvals get addicting. I need to go back to the garden but its so damn hard....

I'm cancelling my membership with Penfed tomorrow as USAA is my bank, dont think I have te willpower to hold off on that too much longer without doing that.

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I actually appd after reading this thread and I was in fact denied, but i did not recon, i may do that now or just be humbled by defeat.. THey do it fact seem very conservative, idk if its because the new credit cards i got or if they are just plain conservative, im very doubtful they would accept my app, but i am making it a personal mission of mine to get this card!!

[drkaje]

@ iMD,

Don't get sucked into PenFed's evil game, LOL!

They're not for rebuilders, hate inquiries, and loathe high utilization.

If you're determined to get their gas card, don't waste another inquiry until your credit is perfect and utilization is relatively low. By "perfect" I pretty much mean 0 recent negatives. Only PenFed knows what's considered recent but I was denied with a few years back with negatives more than 4 years old.