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Frequent Contributor
OnTheRebound
Posts: 457
Registered: ‎08-05-2009
0

Re: Penfed or not to Penfed...


drkaje wrote:

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.

Mine- Citi Diamond Preferred WMC $12K / Citi Double Cash WMC $3.8K / Comenity Total Rewards Visa $2.5K / Citi Home Depot $5K / DW's- I'm AU on most- Amex BCP $12K / Chase Freedom Visa $11014.00 / PenFed Platinum Rewards Visa Signature $6K / Citi Simplicity MC $4.4K / GE Lowes $10K / GE CareCredit $5K
myFico Scores as of 10/03/2014
Equifax 798 / Experian 811 / TransUnion 814
Established Contributor
Pilotdude
Posts: 955
Registered: ‎02-02-2013
0

Re: Penfed or not to Penfed...

Okay thanks.
This saved me a headache and prolly a denial or AA later.
Penfed is not what I need just yet.
I'll look at them this time next year.
This is why these forums work.
Thanks guys and gals

NFCU #1 Fan!! NO MOAR APPS TIL 10/13 Minimum!!
TU -746, EX - 721, EQ -745
Cards:NFCU Flag Visa Sig $10000, CSP $8500, AMEX BCP $2000 Freedom $3500, Disc IT $5000, Cap 1 Green $2100, Credit 1 CLOSED! AU on Amex Green, Discover $2000, Cap One Plat $1000
Established Contributor
kroberts67
Posts: 833
Registered: ‎03-04-2013
0

Re: Penfed or not to Penfed...

Hey Pilotdude, old thread I know, sorry but I just wondered...  somewhere between your first post and today, you got in with NFCU.  How?



FICO: EQ 722 | TU 723 | EX 718
SFFCU Visa $11.3k + LOC $5k, USAA Amex $6k, USAA MC $7k, Amex BCE $13.5k, Cap1 $4k, Freedom $5k, Slate $3.2k, Barclays SM $5k.

My Credit Repair Journey
Established Contributor
Pilotdude
Posts: 955
Registered: ‎02-02-2013
0

Re: Penfed or not to Penfed...

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. 


NFCU #1 Fan!! NO MOAR APPS TIL 10/13 Minimum!!
TU -746, EX - 721, EQ -745
Cards:NFCU Flag Visa Sig $10000, CSP $8500, AMEX BCP $2000 Freedom $3500, Disc IT $5000, Cap 1 Green $2100, Credit 1 CLOSED! AU on Amex Green, Discover $2000, Cap One Plat $1000
Regular Contributor
Bay_Area_Joe
Posts: 244
Registered: ‎10-05-2012
0

Re: Penfed or not to Penfed...

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.

 

$ 197,650 IN TOTAL CREDIT LINES.
MyFICO EQ 777 on 9/3/13 , MyFICO TU 787 on 9/3/13, MyFico EX Score 771 on 8/27/13
Pen Fed Visa 19k, Pen Fed LOC 20k, Citi Hilton Honors 15k, Chase Sapphire Preferred 19.9k, Citi MC Diamond Preferred 12.2k, Chase Marriott PR Sig Visa 12k, Chase Priority 5k, Sams Discover 20k, Amex Hilton Surpass 2k, BofA Hawaii 5k
Discover More 16.25k, Chase Southwest Visa 3.5k, Wells Fargo LOC 10k,
B of A Visa 20k, Wells Plat Visa 6.7k RC Willey 5k Discover IT 4k AMEX TE 2k

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