@Anonymous wrote:
Does anyone know what criteria you have to have in order to get approved with Pentagon? I opened a savings account with them and applied for a CC. They declined the CC. I sent in for reconsideration and the result was DECISION UNCHANGED. I had to file a Ch. 13 in January 2001. It was discharged in January 2007. I have numerous new accounts. However, all are in very good standing. I have minimal balances also. I just got NFCU Platinum VISA, NFCU nRewards Mastercard, and JFCU Visa Gold. I figure now they will say PYRAMIDING. Whatever that means. Help?
Here is what they said:
Comments:COLLECTION ACCOUNT(S)
BANKRUPTCY FILING REPORTED
LENGTH OF TIME ACCTS ESTABLISHED
They don't like a lot of new accounts.
It's not unusual for credit unions to be conservative when it comes to people who have been looking for credit a lot recently. If PenFed thinks that you've been opening a lot of new accounts, they will deny you for "pyramiding credit."
Message Edited by haulingthescoreup on
03-08-2008 05:40 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
