Penfed Mailed me Application?

[Creditaddict]

It does not look like any kind of pre-approval, did they send this to all members that don't have a credit product with them?

The fixed 7.9% for 36 months would be fantastic but I feel like they will hate my score, debt, and inq!!!

[Anonymous]

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@Creditaddict wrote:

It does not look like any kind of pre-approval, did they send this to all members that don't have a credit product with them?

The fixed 7.9% for 36 months would be fantastic but I feel like they will hate my score, debt, and inq!!!

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Don't worry. In a year, when your self-imposed application hiatus will be over, your scores and your util might look much better .

[Anonymous]

[homerunstacy]

Nope.. no PenFed mail app love for me but maybe b/c I just became a new member this month and was already turned down once for the rewards visa.

I am kind of hoping that when my score finally does bounce back into the mid 700's and I apply for a car loan with them that they will make a cc offer at the same time but maybe that is just wishful thinking =)

[score_building]

Strongest app (third try) denied with 742 12 uti and 3 inq- for  pyramids and too many inq.  Others seem to get in with slightly weaker profiles YMMV.

May have to swear off apps for the duration and repair score to become a candidate.

[USC08]

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@score_building wrote:

Strongest app (third try) denied with 742 12 uti and 3 inq- for  pyramids and too many inq.  Others seem to get in with slightly weaker profiles YMMV.

May have to swear off apps for the duration and repair score to become a candidate.

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what does it mean with pyramid debts?

[haulingthescoreup]

Most lenders use "pyramiding" to mean that your debt level is increasing, or that you're adding accounts but not decreasing your actual debt.

PenFed has been known to use the term to mean adding available credit, even if there's insignificant debt, or debt is dropping.

eta: sometimes you'll see a post that so-and-so is an Egyptian, meaning that they're pyramiding, as opposed to where they're from.