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Contributor
Posts: 103
Registered: ‎05-17-2009
0

Question about PENFED

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.

CC: Amex Green ( NPSL) Amex BCE ( 38.1 K ) US Bank Sig Cash ( 20K ) Pen Fed (42K) Chase Freedom ( 7.5K) Discover More (22K ) Cap 1 QSilver (10K) Barclays Rewards (9K) Care Credit (5.5k) Sears (12K) JC Pennys (6K) Dell (15K) Key Bank (19k ) Key Bank (16K) FFO (7.5 K) Shell ( 600) OCCU ( 20K ) City TY (10.5K) CSP (17.5k) Regions ( 18K )Simmons (15K) Regions BLOC (125K) Fuel Rewards MC(10K )Amex Hilton ( 23k)

TU ( MFICO 5/11/14) 812
EQ ( MFICO 5/11/14) 790
EX ( MFICO 5/11/14) 805

Moderator Emeritus
Posts: 12,909
Registered: ‎12-30-2011
0

Re: Question about PENFED

Probably waiting on some sort of verfication by underwriting who doesn't work Sunday typically.

 

Not a big deal in my opinion.

Starting Score: EQ 04 561, TU 98 567, EX 98 599 (12/30/11)
Current Score: EQ 04 700, TU 04 731, EX 98 725 (05/24/15)
Goal Score: 700 on EQ 04 (01/01/16)


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Valued Contributor
Posts: 2,512
Registered: ‎11-11-2010
0

Re: Question about PENFED

Usually Penfed wants income verification.

In My Wallet:
Citi Forward (12/2010) | Citi Dividend (05/2011) | Chase Freedom (11/2011) | GECRB/PayPal (05/2012)
Discover it (07/2012) | AMEX BCP (09/2012) | TD/Target REDCard (10/2012) | Chase Ink Classic (11/2012)
BofA BBR (04/2013) | FNBO/Overstock.com (02/2014) | Barclaycard Arrival (04/2014) | FIA/Fidelity AMEX (04/2014)
Valued Contributor
Posts: 3,096
Registered: ‎01-26-2012
0

Re: Question about PENFED

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.

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Contributor
Posts: 103
Registered: ‎05-17-2009
0

Re: Question about PENFED

Thanks, everything went smooth, the delay was due to me applying over the weekend.

CC: Amex Green ( NPSL) Amex BCE ( 38.1 K ) US Bank Sig Cash ( 20K ) Pen Fed (42K) Chase Freedom ( 7.5K) Discover More (22K ) Cap 1 QSilver (10K) Barclays Rewards (9K) Care Credit (5.5k) Sears (12K) JC Pennys (6K) Dell (15K) Key Bank (19k ) Key Bank (16K) FFO (7.5 K) Shell ( 600) OCCU ( 20K ) City TY (10.5K) CSP (17.5k) Regions ( 18K )Simmons (15K) Regions BLOC (125K) Fuel Rewards MC(10K )Amex Hilton ( 23k)

TU ( MFICO 5/11/14) 812
EQ ( MFICO 5/11/14) 790
EX ( MFICO 5/11/14) 805

Contributor
Posts: 92
Registered: ‎06-16-2012
0

Re: Question about PENFED

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 Smiley Happy

Current: EQ 791 / TU 788 / EX 752 FICO's (MyFico, Oct 2012)

*** NFCU Plat | USAA CR Amex | PenFed TR Amex | BOA Gold | JP Morgan Select | Amex BCP | Amex PRG | USAA Plat ***
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