Penfed Denied BUT EQ Score MUCH higher then My Fico EQ Score....Why

[Andy77]

I got approved for one card and denied for the other.  In the denial letter they said they wanted to see 12 months of usage on the approved card before they would consider approving me for more credit.

In the denial letter is where I saw the EQ 721 and was FLOORED because the myfico.com EQ is 692...large difference

[user5387]

Another point here is that Penfed may be using other criteria beyond score, and no one seems to know for sure just what the other factors are.

There are a variety of stories around where people with excellent credit bite the dust with Penfed, either being denied or getting low limits.

[takeshi74]

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@notfancy wrote:

721 seems like a good enough score to get approved for pretty much anything?

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As always, it's not just about the score.

[toppers555]

Penfed places a huge weight on balances  on accounts. They denied me with a 749 last week due to my loan balances(school loans).