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Established Contributor
Badcreditguy
Posts: 623
Registered: ‎08-14-2007
0

Penfed denial

Do I recon? How is the best way to recon?
New Contributor
souper
Posts: 67
Registered: ‎05-07-2008
0

Re: Penfed denial

You can fax them a letter. What reasons did they give you for the denial?
Moderator Emeritus
cheddar
Posts: 6,794
Registered: ‎09-29-2007
0

Re: Penfed denial

Your chances at recon depend on how well you can explain the reasons for denial.  What were the reasons?  Could you explain them to a credit analyst?
 
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App free since 7/11/08.
TU 744 / EX 710 / EQ 694 (Starting to slip. :smileysurprised: )
Regular Contributor
shreco
Posts: 134
Registered: ‎05-05-2008
0

Re: Penfed denial

You fax them a letter with "Attention Loan Desk" on top.

I added the application number as well below that. And as the others said address their concerns in your letter.

Once that is complete they will open a new application with new number. Check this periodically because they may add that they need something from you in the details.

In my case they requested income verification which I also faxed. My app didn't end well but didn't hurt to ask.
FICO TU 730 EQ 731 EX 706
Established Contributor
Badcreditguy
Posts: 623
Registered: ‎08-14-2007
0

Re: Penfed denial

What is the fax number?
Regular Contributor
shreco
Posts: 134
Registered: ‎05-05-2008
0

Re: Penfed denial

1-800-557-7328 you asked so I provided but I'm a paranoid git and wouldn't fax financial data to some number posted in an online forum.

Quick phone call to Penfed to verify what I say is true is in order I think lol.
FICO TU 730 EQ 731 EX 706
Valued Contributor
jmbfl
Posts: 1,185
Registered: ‎03-04-2008
0

Re: Penfed denial

They have 24hr customer service. Just make a call - they are very nice!
Established Contributor
Badcreditguy
Posts: 623
Registered: ‎08-14-2007
0

Re: Penfed denial

I just faxed my recon letter in today they said call tommarrow everyone cross your fingers!!!!!!
Contributor
brooklyngal
Posts: 90
Registered: ‎01-01-2008
0

Re: Penfed denial

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.
I'm in the 700 club now! :smileyhappy:
1/9/10 scores: TU: 766 | EX: YOU SUCK! | EQ: 736
Regular Contributor
shreco
Posts: 134
Registered: ‎05-05-2008
0

Re: Penfed denial

Goodluck!
FICO TU 730 EQ 731 EX 706

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