08-12-2012 05:15 PM
I just signed up last week with PenFed, and last night I applied for their Cash back rewards card. And got the following statement: You have been approved for a credit limit of $ 13,500 , but your account is being reviewed. Whats does that actually mean.
08-12-2012 05:18 PM
Probably waiting on some sort of verfication by underwriting who doesn't work Sunday typically.
Not a big deal in my opinion.
08-12-2012 05:32 PM
Usually Penfed wants income verification.
08-12-2012 09:10 PM
Every app goes to manual underwriters. You got the automated underwriting decision. They may ask for more documents and don't be surprised if cl gets reduced in end. Btw, mind giving us some details on your credit file such as score, credit lines, aaoa, etc.
08-16-2012 06:18 PM
Thanks, everything went smooth, the delay was due to me applying over the weekend.
08-17-2012 03:18 AM
Congrats! Verification with them sometimes takes awhile. It took me almost a week to get everything situated with them. They have a Research Department that filters all reviewed information to be cross-checked and updated in the system. Enjoy your card! I know I love mine
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.