Reply
Senior Contributor
smallfry
Posts: 4,831
Registered: ‎04-20-2007
0

Re: Should I open with PenFed?

Good for you. 
Senior Contributor
creditwherecreditisdue
Posts: 4,923
Registered: ‎04-19-2009
0

Re: Should I open with PenFed?


pattycake wrote:

creditwherecreditisdue wrote:

llecs wrote:

OP, if you app good luck. I'm in the middle of a CC app right now too...my first with them.

 

I had started with them 2 yrs ago with the share account and put in $100. My scores then were in the mid to high 500s. Last Friday, I decided to app with EQ at 719 and 18% util w/ no baddies and 3 new accounts in early December, but no apps since with 9 inquiries from the past yr. I used the hard inquiry to app for a checking, OD account, and a requested $10k CC. I immediately got approved for the first two and the CC is still listed as "Pending" as of today. However, just got an e-mail requesting the past 2 pay stubs and am off to look for them. In short, if you do app give them some time. Good luck.


 

Pay stubs, eh? Neither of us have ever been asked for anything, but my standard advice is to be prepared to prove your stated income. It sounds like you are on your way to an approval.

 

 

I did open a savings account with them today, and while on the phone (yes, I did it over the phone), the rep told me I was approved and that she loved being able to tell people that, but that because I am a new member, a LO will have to give it the final okay.  She said it appeared I was approved for the full $10K but to call back on Friday or Monday to be sure.  

 

So, I don't know if human contact matters or whether it's the same as "pending."   


 

Good for you and welcome to the "group". I am so glad it worked out for you. (Particularly since I encouraged you!) You will find PenFed a great place to work with.

 

Congrats, and nice job!

Moderator Emeritus
llecs
Posts: 32,869
Registered: ‎08-04-2007
0

Re: Should I open with PenFed?

Congrats, OP!
Established Contributor
pattycake
Posts: 760
Registered: ‎04-30-2007
0

Re: Should I open with PenFed?

[ Edited ]

creditwherecreditisdue wrote:

pattycake wrote:

creditwherecreditisdue wrote:

llecs wrote:

OP, if you app good luck. I'm in the middle of a CC app right now too...my first with them.

 

I had started with them 2 yrs ago with the share account and put in $100. My scores then were in the mid to high 500s. Last Friday, I decided to app with EQ at 719 and 18% util w/ no baddies and 3 new accounts in early December, but no apps since with 9 inquiries from the past yr. I used the hard inquiry to app for a checking, OD account, and a requested $10k CC. I immediately got approved for the first two and the CC is still listed as "Pending" as of today. However, just got an e-mail requesting the past 2 pay stubs and am off to look for them. In short, if you do app give them some time. Good luck.


 

Pay stubs, eh? Neither of us have ever been asked for anything, but my standard advice is to be prepared to prove your stated income. It sounds like you are on your way to an approval.

 

 

I did open a savings account with them today, and while on the phone (yes, I did it over the phone), the rep told me I was approved and that she loved being able to tell people that, but that because I am a new member, a LO will have to give it the final okay.  She said it appeared I was approved for the full $10K but to call back on Friday or Monday to be sure.  

 

So, I don't know if human contact matters or whether it's the same as "pending."   


 

Good for you and welcome to the "group". I am so glad it worked out for you. (Particularly since I encouraged you!) You will find PenFed a great place to work with.

 

Congrats, and nice job!


 

 

Thanks!  But I'm wondering if that meant "pending."

Message Edited by pattycake on 07-23-2009 06:39 PM
Message Edited by pattycake on 07-23-2009 06:39 PM
Message Edited by pattycake on 07-23-2009 06:40 PM
pattycake's FICOs: 6/2/10 - TU: 708; EX: ???; EQ: 749
Senior Contributor
creditwherecreditisdue
Posts: 4,923
Registered: ‎04-19-2009
0

Re: Should I open with PenFed?

Did you check your app status online? Log yourself into the website and on the main screen click on the tab that says "Apply Now". The next screen will show you the status of every loan app for the last 90 days. If the status is "APPROVED" or "TRANSFERRED" you are good. If it says "PENDING" it is still waiting for approval. The CSR's can see a little more info than we can. If they let on that you were good and it might just be a question as to the amount I would be pretty happy.
Established Contributor
pattycake
Posts: 760
Registered: ‎04-30-2007
0

Re: Should I open with PenFed?


creditwherecreditisdue wrote:
Did you check your app status online? Log yourself into the website and on the main screen click on the tab that says "Apply Now". The next screen will show you the status of every loan app for the last 90 days. If the status is "APPROVED" or "TRANSFERRED" you are good. If it says "PENDING" it is still waiting for approval. The CSR's can see a little more info than we can. If they let on that you were good and it might just be a question as to the amount I would be pretty happy.

 

I think I'm going to give you a big sloppy kiss.  It says "APPROVED."
pattycake's FICOs: 6/2/10 - TU: 708; EX: ???; EQ: 749
Senior Contributor
creditwherecreditisdue
Posts: 4,923
Registered: ‎04-19-2009
0

Re: Should I open with PenFed?

YIPPEE!!!!!

 

Now you can start the party!

 

The amount on that line is the amount you were approved for. Tomorrow the status should read "TRANSFERRED". That means your account is out of the loan department and being assigned a card number and the plastic is being cut. It takes a while to get the plastic card in the mail so don't panic. If you want to make a balance transfer you can do that as soon as the card appears on your accounts screen, which will be a day after the status goes to "TRANSFERRED". (As soon as they have a card number for you.)


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+
}