03-14-2013 08:49 AM
I don't believe deposit amount affects approval for PenFed's products.
They love low utilization, clean reports, and low DTI.
I believe this is correct. My wife has the Platinum Cash Rewards for almost 3 years now. We also have a substantial amount in a CD. Never any preapprovals. Although they keep pushing a "low interest" loan against the CD.
03-14-2013 09:24 AM
06-05-2013 12:36 PM
Hey Pilotdude, old thread I know, sorry but I just wondered... somewhere between your first post and today, you got in with NFCU. How?
06-05-2013 02:32 PM
I got in from Father, Uncle, other Uncle. Turned out I have more than one relative who are members and so it was pretty simple.
06-05-2013 02:44 PM
I will tell when I did my last app spree on 3-13, I went for the following cards in order all within 30 minutes.
Amex Hilton Surpass, Approved, but only 2k limit.
Pen Fed Cash rewards Visa approve instantly 19k
Pen Fed Personal Line of Credit, approved 20k
Citi Hilton Honors, approved 15k
Chase Priority Club Visa, approved 8.4k
B of A Hawaii VIsa Sig, approved 5k
GE Sams Discover, approved 3k.
Since then I have used the Pen Fed accounts and never heard a word about inq or new accounts. Keeping my nose clean and PIF all but one card.
Have not pulled FICS's lately, so I do not know where I sit, just in the garden for now.
Working on SP CLI's.
Pen Fed are my largest limits. I guess the stars, moon, and earth all were in perfect harmony.
I love Pen Fed.
Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.† Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
* For complete information, see the terms and conditions on the credit card issuer’s website. Once you click apply for this card, you will be directed to the issuer’s website where you may review the terms and conditions of the card before applying. While myFICO always strives to present the most accurate information, we show a summary to help you choose a product, not the full legal terms - and before applying you should understand the full terms of products as stated by the issuer itself.
IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more
FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.