Reply
Valued Member
joe867
Posts: 31
Registered: ‎01-30-2013
0

Persistence with PenFed

So this story starts on February 14th when I decided to give my first app spree a try. I went for the CSP, BCP, PenFed Platinum Rewards and a CLI with my PSECU Visa. It was a very successful app spree and I was approved for everything I had apped for. Woo hoo!

 

But I still had the itch... So a week later I went for the Ink Bold and after a brief explanation of my IT consulting side business I got that. Still batting a thousand, great!

 

A week later I still had a lingering itch but I knew I didn't want any more HPs. I was poking around PenFeds website and decided I would give a shot at a personal LOC and their Defender Amex since they had a promotion allowing prior service members to qualify for it and at 6.9% for 60 months.

 

First application... Turned down, needed to send in notarized copy of ID and utility bill.

 

Second application... Turned down for the Defender Amex but approved for 10k LOC. I was happy about the LOC but being turned down for the Defender Amex wasn't going to work for me since it ruined my 100% success rate and I really liked the rate. After a conversation with a CSR she said I was turned down because they would only open so much credit in the first year. I asked if it was possible to take 5k from the LOC and transfer it to the Defender to get approved. She said sure but I would have to submit that in writing via email. So that's what I did.

 

Third application...  After calling in not quite 48 hours after applying and being asked to fax in a pay stub, Approved!

 

The whole process took almost 2 weeks and definitely tested my patience. Persistence certainly paid off in this situation.

EX 761 (5/14); EQ 784 (4/14); TU 778 (5/14)

NFCU cashRewards 23k | Marriott Premier MC 18k | US Bank Club Carlson 15k | Amex BCP 14.3k | Citi AA Exec 13k | Barclays US Airways 10k | PSECU 7.5k | Amex SPG 7k | Amex Old Blue Cash 5k | Chase Sapphire 5k | Ink Plus 5k | PenFed Platinum Rewards 5k | PenFed Defender 5k | PenFed LOC 5k | Gap 4300 | Amex SPG Biz | Amazon Chase 500 |
Moderator
09Lexie
Posts: 26,321
Registered: ‎09-13-2012
0

Re: Persistence with PenFed

Congrats! Persistence DID pay off.

Now, off to the garden.
Senior Contributor
youngandcreditwrthy
Posts: 6,242
Registered: ‎08-16-2012
0

Re: Persistence with PenFed

Congrats! This is the only Penfed card I want!
Im totes jelly, but Im certain you deserve it :-)
Marriott PR$25k | BCE $24.5K |BankAmericard Visa $25k| Wmt Discover $12.5k | BR Visa $12.5k | Amex Delta Gold $10k | Discover IT $10k | Paypal Extras MC $15k | Amazon Store $10k|Arrival $12.7k | Smile Gen $7.25k | Dillard's $10k | West Elm $4k| Express $3.05K | Mypoints.com Visa $4.5k | Freedom Visa $1k| Amex Surpass $1k
Regular Contributor
fittiger
Posts: 220
Registered: ‎02-20-2013
0

Re: Persistence with PenFed


joe867 wrote:

So this story starts on February 14th when I decided to give my first app spree a try. I went for the CSP, BCP, PenFed Platinum Rewards and a CLI with my PSECU Visa. It was a very successful app spree and I was approved for everything I had apped for. Woo hoo!

 

But I still had the itch... So a week later I went for the Ink Bold and after a brief explanation of my IT consulting side business I got that. Still batting a thousand, great!

 

A week later I still had a lingering itch but I knew I didn't want any more HPs. I was poking around PenFeds website and decided I would give a shot at a personal LOC and their Defender Amex since they had a promotion allowing prior service members to qualify for it and at 6.9% for 60 months.

 

First application... Turned down, needed to send in notarized copy of ID and utility bill.

 

Second application... Turned down for the Defender Amex but approved for 10k LOC. I was happy about the LOC but being turned down for the Defender Amex wasn't going to work for me since it ruined my 100% success rate and I really liked the rate. After a conversation with a CSR she said I was turned down because they would only open so much credit in the first year. I asked if it was possible to take 5k from the LOC and transfer it to the Defender to get approved. She said sure but I would have to submit that in writing via email. So that's what I did.

 

Third application...  After calling in not quite 48 hours after applying and being asked to fax in a pay stub, Approved!

 

The whole process took almost 2 weeks and definitely tested my patience. Persistence certainly paid off in this situation.


I'm considering a similar spree in June..........What order did you app for these?  What did each pull?

Chase Sapphire Preferred $17,800; Discover IT $15,000; PenFed Plat Rewards Signature $14,000; AMEX BCE $11,800; AMEX SPG $8,100; Citi Simplicity $10,000; Chase United MileagePlus Explorer $5,000; Chase Ink Classic $3,000; GE Lumber Liquidators $7000; GE Care Credit $2000
Regular Contributor
unusuallyconfused
Posts: 232
Registered: ‎03-05-2013
0

Re: Persistence with PenFed

What's a PENFED LOC? I know it's "line of credit", but what specifically is that? What did you apply for in terms of that??

USAA Rewards VISA (7,500 - 03/2013) / DiscoverIT (6500 - 03/2013) / Cap One Platinum MC (2750 - 03/2013) / Credit One Platinum VISA (750 - 03/2013) / First Premier Bank MC (300 - 02/2013) / FingerHut/WEBBANK (5200.00 - 02/2013) / Victoria's Secret/Comenity (1500 - 03/2013) / PayPal Smart Connect/GECRB (2900 - 03/2013) / Lowe's/GECRB (2800 - 03/2013) / Amazon.com/GECRB (4500 - 03/2013) / Chevron Texaco/GECRB (1950 - 03/2013) / J.C. Penney/GECRB (2150 - 02/2013) / Target (750 - 07/2013) / Abercrombie & Fitch/Comenity (1850 - 07/2013) / CareCredit/GECRB (4500 - 08/2013) / DCU Visa (2000 - 11/2013) / NFCU Sig cashRewards Visa (7000 - 11/2013) - MilitaryStar/Chase (4700 /12/2013)

Super Contributor
CS800
Posts: 6,552
Registered: ‎04-07-2008
0

Re: Persistence with PenFed

YOu have the EQ score to back the Defender with. Penfed does require 740 + from what I was told for their cards.

 

Congrats, it's a great card :smileyhappy:




New Contributor
danielodonoll
Posts: 401
Registered: ‎03-16-2013
0

Re: Persistence with PenFed

Congrats:smileyhappy:

Citi Bank X2/ 29k-USAA Amex/Mastercard 24k-PP Mastercard 20k_
WMDiscover 20k-PenFed X2/15k
Current Fico/EQ-765
Garden Time Day- 10
Remaining Days-170

myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.

>> About myFICO
FICO Score - The Score that matters
Click to Verify - This site chose VeriSign SSL for secure e-commerce and confidential communications.
Fair Isaac Corporation is a BBB Accredited Financial Service in San Rafael, CA
FOLLOW US Social Media Facebook Twitter Pinterest Google+
}