Credit Cards

[FretlessMayhem]

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brooklyngal wrote:

What was the denial reason? If it was "pyramiding debt", they will NOT recon--regardless of your score. I was denied for this reason and I was told that my new accounts have to be at least 6 months old in order to try again.

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Is that a polite way of saying too many new accounts?

[brooklyngal]

Guess so!

*rofl*

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FretlessMayhem wrote:

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brooklyngal wrote:

What was the denial reason? If it was "pyramiding debt", they will NOT recon--regardless of your score. I was denied for this reason and I was told that my new accounts have to be at least 6 months old in order to try again.

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Is that a polite way of saying too many new accounts?

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[cheddar]

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brooklyngal wrote:

Guess so!

*rofl*

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FretlessMayhem wrote:

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brooklyngal wrote:

What was the denial reason? If it was "pyramiding debt", they will NOT recon--regardless of your score. I was denied for this reason and I was told that my new accounts have to be at least 6 months old in order to try again.

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Is that a polite way of saying too many new accounts?

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Penfed doesn't understand the difference between credit and debt?

Having a lot of new credit is not even close to the same thing as "pyramiding debt."

This amazes me.  I always thought "pyramiding debt" referred to the practice of opening new accounts while not paying off existing debt at the same time.

[smallfry]

It's a catch all denial. Once they see you can handle your new lines they will approve you all things being equal.

[jmbfl]

It does and they fully understand. They are just very sensitive about new accounts.