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Established Contributor
pattycake
Posts: 760
Registered: ‎04-30-2007
0

Re: Penfed - is that a LUV button???

Yes, just joined last week.  Trying to figure out the quickest way to make payments to them, I guess as soon as I get the statement so I don't get hit by the "10 day" rule. 
pattycake's FICOs: 6/2/10 - TU: 708; EX: ???; EQ: 749
Senior Contributor
creditwherecreditisdue
Posts: 4,923
Registered: ‎04-19-2009
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Re: Penfed - is that a LUV button???


txjohn wrote:

It seems that once you get to a certain level that the "negtives" are limited (unless I report some heavy balances).  I have no derogs to factor into my score....so when negatives are factored, it only factors in that my "newest account" is 1 month old.  It does not factor in that my newest 6 accounts are 4 months or less.  Balances ding me if I let them report.


This is the power of being in the "right" scoring bucket!

 


txjohn wrote:

Also, EQ and TU seem to lose inquiries too...so I'm not "looking for credit" any more.


 

TU has lost 11 of my 13 lates - the worst ones first - leaving two accounts with one 30-day late each. And that matters big time!

Senior Contributor
txjohn
Posts: 4,214
Registered: ‎09-12-2008
0

Re: Penfed - is that a LUV button???

Oh well then, you are just CRAWLING with newbie member cooties!  :smileyvery-happy:

 

I wouldn't touch that for some time.  PenFed is reported to provide "offers" once you get some membership age, if you are credit worthy.

 

 

Credit Scoring 101 - Tuscani   *  Guide to Common Abbreviations
Frequently Requested Threads * FICO High Achievers  *  FICO Score Estimator


09/03/2009 TU: 777, EQ: 776 ($8 balance on an account dropped me out of 780's)
03/28/2009 TU: 814, EQ: 810, EX: 781 (02/12/2009)
05/18/2005 TU: 563, EQ: 580, EX: 549
Senior Contributor
creditwherecreditisdue
Posts: 4,923
Registered: ‎04-19-2009
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Re: Penfed - is that a LUV button???


pattycake wrote:

I have not received the card.  I was just wondering what would happen if I touched it, like maybe I'd get the cooties if I wasn't supposed to. 


Go ahead an push it. All it's going to do is take you to the app screen.

 

It is not a "luv button". PenFed has no luv button. If you want a CLI it is an app. They don't just increase your CL either (auto CLI). If you are worthy af six months to one year you will start receiving pre-approved offers, which for at least HTSU and me are truly pre-app and have been accepted and approved without hard inquiry. These offers show up in a box under the "Help" choice on the main menu.

Frequent Contributor
hobojon
Posts: 261
Registered: ‎01-20-2009
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Re: Penfed - is that a LUV button???


creditwherecreditisdue wrote:

pattycake wrote:

I have not received the card.  I was just wondering what would happen if I touched it, like maybe I'd get the cooties if I wasn't supposed to. 


Go ahead an push it. All it's going to do is take you to the app screen.

 

It is not a "luv button". PenFed has no luv button. If you want a CLI it is an app. They don't just increase your CL either (auto CLI). If you are worthy af six months to one year you will start receiving pre-approved offers, which for at least HTSU and me are truly pre-app and have been accepted and approved without hard inquiry. These offers show up in a box under the "Help" choice on the main menu.


Actually they do offer an auto CLI in a weird way. When they offer you a preapproval for a second card you can opt to have the CL offered to be added to your existing card instead.

Senior Contributor
creditwherecreditisdue
Posts: 4,923
Registered: ‎04-19-2009
0

Re: Penfed - is that a LUV button???

[ Edited ]
What they actually offer you an additional amount of unsecured credit which you can accept in the form of almost any unsecured credit product (only those offered), including adding it to your existing CC or adding another CC. You can accept all or part of what they offer you. I believe HTSU used her offer to add to her existing CC as did my SO. I took a second CC. All of these offers were accepted and approved without inquiry.
Message Edited by creditwherecreditisdue on 07-29-2009 02:04 PM
Established Contributor
pattycake
Posts: 760
Registered: ‎04-30-2007
0

Re: Penfed - is that a LUV button???

There is already an offer for a $35K car loan, with an option to "opt out of prescreened offers."  

 

I've seen people here on the board talk about car loans being easier to get than CC's since CC's are unsecured credit.  

 

Okay, I'm going to see what it does when I push the button.  If I go up in flames, I'm going to blame creditwherecreditisdue, who may in fact be the devil himself.  :smileytongue: 

pattycake's FICOs: 6/2/10 - TU: 708; EX: ???; EQ: 749
Regular Contributor
Kay_Cee
Posts: 199
Registered: ‎01-16-2008
0

Re: Penfed - is that a LUV button???

I'm dying to know what happens when you push the button.  I just joined also and got my card Friday of last week.  I, too, have the $35 K preapproval for a car loan but have no intention of using that yet.

 

Let us know!!:smileywink:

Established Contributor
pattycake
Posts: 760
Registered: ‎04-30-2007
0

Re: Penfed - is that a LUV button???

Kay - how long did it take to get your card?  From what a couple of posters say, it takes weeks.  Was that your experience?  
pattycake's FICOs: 6/2/10 - TU: 708; EX: ???; EQ: 749
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Community Leader
Epic Contributor
haulingthescoreup
Posts: 28,115
Registered: ‎04-01-2007
0

Re: Penfed - is that a LUV button???

[ Edited ]

pattycake wrote:

There is already an offer for a $35K car loan, with an option to "opt out of prescreened offers."  

 

I've seen people here on the board talk about car loans being easier to get than CC's since CC's are unsecured credit.  

 

Okay, I'm going to see what it does when I push the button.  If I go up in flames, I'm going to blame creditwherecreditisdue, who may in fact be the devil himself.  :smileytongue: 



Hey, pattycake, I'd just call and ask. You're a new member; maybe you asked for a lower CL than you would have qualified for, and they're giving you the option to increase it. And they're waving an auto loan at you, just as they did me.

I'd just ask the CSR if that's what this is.

I joined in the days of the baffling website, so I never saw an "ask for CLI" button. Doesn't mean it wasn't there; it's just that it was all I could do to get to my CC screen to pay.

Oh, and DON'T opt out of the prescreened offers! :smileysurprised: I've never gotten an iota of junk mail or e-mail since joining that I could think might be via PenFed.
Message Edited by haulingthescoreup on 07-28-2009 03:14 PM
* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007

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