Penfed!!

[Teknut]

Hello Everyone,

I applied for PenFed Platinum Rewards yesterday and it said I was approved for 14500 and that my application was referred to a loan officer.  I have been checking throughout the day to see if the status was updated to transferred and this morning, it says transferred.  I know they are a very conservative lender so I was very anxious because I have an almost 6 year old unpaid collection on my Equifax and Transunion report. 

My question to everyone is that does transferred mean that I am good to go or should I continue to worry about this?

Here is some additional info about me at the time I applied in case anyone is in the same boat.

Equifax Fico: 712 (From Myfico)

Average Age: 4 Years

Util: 1%

0 Inquiries on my Equifax report.

Please let me know if anyone has any questions.

Thanks,

Teknut

[ilovelisa]

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@Teknut wrote:

Hello Everyone,

I applied for PenFed Platinum Rewards yesterday and it said I was approved for 14500 and that my application was referred to a loan officer.  I have been checking throughout the day to see if the status was updated to transferred and this morning, it says transferred.  I know they are a very conservative lender so I was very anxious because I have an almost 6 year old unpaid collection on my Equifax and Transunion report. 

My question to everyone is that does transferred mean that I am good to go or should I continue to worry about this?

Here is some additional info about me at the time I applied in case anyone is in the same boat.

Equifax Fico: 712 (From Myfico)

Average Age: 4 Years

Util: 1%

0 Inquiries on my Equifax report.

Please let me know if anyone has any questions.

Thanks,

Teknut

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Yes, transferred is good, it means they are in the process of making your card.

[Teknut]

Wonderful.  This is my biggest limit yet.  Can't wait for the card to arrive

[ilovelisa]

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@Teknut wrote:

Wonderful.  This is my biggest limit yet.  Can't wait for the card to arrive

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I love my card, i use it for all gas purchases, and my local walmart counts as a grocery store so I get the 3 points per dollar.

[UFGuy2006]

Congrats!

[chnceit]

Congrats! Dont forget 1 HP for 90 days for multiple credit products! 

[Teknut]

Thank you! I will be buying a car in about a year so I just wanted to get in the door with them first.  Hopefully when I am ready to buy the car, they will still be offering the amazing interest rate that they are offering now.

[chnceit]

How about a personal LOC? 

[Teknut]

Tempting but I will do my best to resist.  I told myself that if I got approved for this, I would not apply for anything else until I was ready to buy a car.  Don't want to lower my AAOA any further so trying to avoid new tradelines.  We'll see what happens.

[SwiftTone]

Could you tell me what your income is? Our profiles are pretty similar except that I have a 734 EQ FICO, but my most recent baddies are 9 30/60 lates in 2009. Thanks!