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Shot down by Penfed again and stumped, any ideas on why?

Established Member

Re: Shot down by Penfed again and stumped, any ideas on why?

I just have never wanted credit line increases so never opted to have them.  I had one auto CLI with my Citi Thank you and I called them up to tell them no more and did the same with everyone else.  I'm actually going to be closing all but the Best Buy and United FCU credit cards shortly since I never use credit anyway.

 

Only 1 inquiry in the last year and no derog at all, I've got a perfect history with no missed payments, nothing bad at all.

Message 11 of 19
Established Contributor

Re: Shot down by Penfed again and stumped, any ideas on why?


tehdrizzle wrote:

I just have never wanted credit line increases so never opted to have them.  I had one auto CLI with my Citi Thank you and I called them up to tell them no more and did the same with everyone else.  I'm actually going to be closing all but the Best Buy and United FCU credit cards shortly since I never use credit anyway.

 

Only 1 inquiry in the last year and no derog at all, I've got a perfect history with no missed payments, nothing bad at all.


Well, if it's any consolation at all, they hate me, too.  Smiley Sad


Starting Score: Jan 2012: EQ - 659, TU08 - 670, EX - ???
Current Score:April 2014: EQ - 772, TU08 - 782, EX - 754
Last App:3/21/14

Message 12 of 19
Frequent Contributor

Re: Shot down by Penfed again and stumped, any ideas on why?

Well there are 2 questions here to complette the answers you need

1-Are you a self employ

2-What is your annual income

As far as your credit score is fantastic if is fico  and i would think if you were denied unfairly and you need to ask for a supervisor base on that factor that in my 15 yrs studing fico scores and credit reports computer models in that regard i would really think that with your credit you should had an instant approval for at least 10k

One other thing i wanted to mention to you would be the age of these accounts u currently have.Are they newer than 6 months cause that could be another reason for penfed to be concerned.

 


COMMERCE BANK PLATINIUM VISA 20K*PAYPAL MC $9.5K*CITI FORWARD $8.5K*PENFED $6,5K*
*LOWES $6K *CMN BANK $5.2K-*PNC $5K*SCLUB DISC. $5K*
WMART DISC.4K*CMN BANK 3.75K*BANK OF AMERICA $3K* MACYS $2.2K*
JCP $1.8*TARGET $0.7K* UTL1%- AAOA 5.5- TOTAL 12 yrs History/
Transunion 718 Equifax 733- Experian 736
Message 13 of 19
Super Contributor

Re: Shot down by Penfed again and stumped, any ideas on why?


astritaho1979 wrote:

Well there are 2 questions here to complette the answers you need

1-Are you a self employ

2-What is your annual income

As far as your credit score is fantastic if is fico  and i would think if you were denied unfairly and you need to ask for a supervisor base on that factor that in my 15 yrs studing fico scores and credit reports computer models in that regard i would really think that with your credit you should had an instant approval for at least 10k

One other thing i wanted to mention to you would be the age of these accounts u currently have.Are they newer than 6 months cause that could be another reason for penfed to be concerned.

 


You're about a month late xD 

Message 14 of 19
Contributor

Re: Shot down by Penfed again and stumped, any ideas on why?

LoL @jsucool76



Message 15 of 19
Senior Contributor

Re: Shot down by Penfed again and stumped, any ideas on why?

I'm not one for resolutions but literally had to vow PenFed would never get another hard pull on my credit report unless the gold bar came up.

 

I've been app-free of them over two years, LOL!

 

 


Starting Score: 675
Current Score: EX 753 FICO, EQ 737FICO, TU 738
Goal Score: 776 FICO


Take the FICO Fitness Challenge
Message 16 of 19
Established Contributor

Re: Shot down by Penfed again and stumped, any ideas on why?

I say we start a group/class action, phone call and close our accounts and memberships!! ill go first. we can do it on a conference call!

 

1. swpopham

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"As long as the music is playing, you've got to get up and dance," he said. "We're still dancing."---Prince CEO Citi Bank

"Money isn't the most important thing in life, but it's reasonably close to oxygen on the "gotta have it" scale". ~Zig Ziglar
Message 17 of 19
Valued Member

Re: Shot down by Penfed again and stumped, any ideas on why?

The inquiry thing isn't true...PenFed pulled all 3 bureaus for my CC and I had over 10 inquiries on each one of them. Most are from a mortgage and auto purchase last year, but a couple from CC's and such. So, Inquiries is not the biggest worry here, I got an instant 20K approval with FICO scores in the 750's and income over 100K.

Photobucket
Message 18 of 19
Regular Contributor

Re: Shot down by Penfed again and stumped, any ideas on why?

Strangely, My wife opened an account with limited credit history, 740 score a few inquiries past year, Her biggest line was 4K. Approved her for 20K! Later gave her a second card for another 10K and I too have a 20K limit with them. Wife's income was 120K little debt. Didn't have to prove income. I had to ave a supervisor raise my initial line of $2500 to 20K to match my wife's. When Pen Fed gave my wife her second card, She had carried a balance of close to max off and on for 9 months but had recently paid down to zero.

Message 19 of 19