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Valued Member
b71913
Posts: 35
Registered: ‎05-17-2009

Question about PENFED

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‎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.

CC: Amex Green, Amex PRG, Amex BCE, US Bank Visa Sig Cash, Pen Fed Platinum Rewards, Chase Freedom, Discover More, Cap One Cash Rewards, BB Reward Zone MC, Barclays Rewards, Regions Platinum, Care Credit, Sears, JC Pennys, Shell.

TU ( MFICO 8/11/12 ) 786
EQ ( MFICO 8/11/12) 799
EX ( DIS 8/12/12) 856

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Revelate
Posts: 4,292
Registered: ‎12-30-2011

Re: Question about PENFED

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‎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.

Starting Score: EQ 561, TU 567, EX 599* (12/30/11, EX lender pull 12/29/11)
Current Score: EQ 660, Wally TU 697, EX unknown (05/13/13)
Goal Score: 680 in all three (01/01/14)

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Valued Contributor
trumpet-205
Posts: 1,909
Registered: ‎11-11-2010

Re: Question about PENFED

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‎08-12-2012 05:32 PM

Usually Penfed wants income verification.

In My Wallet:
Citi Forward (12/2010) | Citi TY Preferred (05/2011) | BofA Travel Rewards (07/2011) | Chase Freedom (11/2011)
GECRB/PayPal (05/2012) | Discover it (07/2012) | US Bank Cash Reward (08/2012) | AMEX BCE (09/2012)
Target (10/2012) | Chase Ink Classic (11/2012) | BofA Balance Rewards (04/2013)
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Valued Contributor
Crashem
Posts: 2,351
Registered: ‎01-26-2012

Re: Question about PENFED

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‎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.

Amex Plat, Amex BCP 8k->24k (5/23/12), Amex TE 15k, CSP 25k, Chase Palladium 100k, Citibank AA 35k (AU), Firestone 1.8k->2.2k (8/20/12), HSBC 15k, JFCU Jloc 30k, PenFed Plat Rewards 30k, SF Fire 30k, US Bank Cash+ 25k
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Valued Member
b71913
Posts: 35
Registered: ‎05-17-2009

Re: Question about PENFED

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‎08-16-2012 06:18 PM

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

CC: Amex Green, Amex PRG, Amex BCE, US Bank Visa Sig Cash, Pen Fed Platinum Rewards, Chase Freedom, Discover More, Cap One Cash Rewards, BB Reward Zone MC, Barclays Rewards, Regions Platinum, Care Credit, Sears, JC Pennys, Shell.

TU ( MFICO 8/11/12 ) 786
EQ ( MFICO 8/11/12) 799
EX ( DIS 8/12/12) 856

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A_Madel
Posts: 92
Registered: ‎06-16-2012

Re: Question about PENFED

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‎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 :smileyhappy:

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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