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Well that wasn't planned...

Established Contributor

Well that wasn't planned...

I ended up joining Penfed today to see about a car loan. I figured while I have another inquiry anyways I will see about the platinum rewards card as well. Both apps are pending review. Fingers crossed!


Message 1 of 18
17 REPLIES
Valued Contributor

Re: Well that wasn't planned...

BEst of luck from all Fico memberrrr Smiley Very Happy


Starting Score: 560
Current Score: 748 Wishlist: CSP, Simply Cash, SPG, BOLD, INK, United MP,
Goal Score: 800


Walmart: 10k |Usaa: 8k|BCE: 13k| Amex: NSPL|Dis: 9.4k|Cap: 5.5k|CAP: 2k|CSP: 13.4k| Pen:4.5k

Message 2 of 18
Valued Member

Re: Well that wasn't planned...

Good luck!

Chase Sapphire Preferred | Freedom | IHG Rewards Club
Citi Dividend | Simplicity | AAdvantage
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Capital One Quicksilver
Amex Blue Cash
Barclay Arrival | NFL Extra Points
Bank of America Better Balance Rewards
US Bank Platinum Visa
Message 3 of 18
Valued Contributor

Re: Well that wasn't planned...

Keep us posted, hope for the best!

Starting Score: EQ 717 EX 724 TU 736
Current Score: EQ 832 EX 783 TU 816
App free since 9/15/15
Message 4 of 18
Established Contributor

Re: Well that wasn't planned...

You will emjoy their team. Great service, friendly and well versed constituents!.

Starting scores 01/02/2012 EQ 707(Fico) TU 733(Fico)XP 735 (FAKO)
Updated scores 05/01/17 EQ 824, TU 812 EXP 810 (all Fico scores) Remember the Three P's: Pay early in Full, Pay on Time, Patience
Message 5 of 18
Valued Contributor

Re: Well that wasn't planned...

So far my experience with them is awesome! One hard pull for membership and multiple credit products cannot go wrong.

 

I hate the whole waiting part! My LOC took two days to get approved. 

 

Best of luck buddy and keep us posted!


Last Pulled EQ: 809
Last Credit Card App: 02/05/2016
Last CLI: 02/06/2016
Find Me: Gardening
Message 6 of 18
Highlighted
Established Contributor

Re: Well that wasn't planned...

So... They denied both the card and the second auto loan. I did get them to at least refi my current car so it's not a total waste. I went from 60 months @ 5.4% to 36 months @ 1.49%. They have already transferred the funds to VW Credit. My local credit union that I bank with approved me on the second loan earlier today. It's going to be 72 months @ 4.2%. I wish I hadn't needed to get this second loan, but stuff happens...


Message 7 of 18
Valued Contributor

Re: Well that wasn't planned...


Default4 wrote:

So... They denied both the card and the second auto loan. I did get them to at least refi my current car so it's not a total waste. I went from 60 months @ 5.4% to 36 months @ 1.49%. They have already transferred the funds to VW Credit. My local credit union that I bank with approved me on the second loan earlier today. It's going to be 72 months @ 4.2%. I wish I hadn't needed to get this second loan, but stuff happens...


Sorry to hear that, did they mention why they denied you? Did you try to recon with a LO?


Last Pulled EQ: 809
Last Credit Card App: 02/05/2016
Last CLI: 02/06/2016
Find Me: Gardening
Message 8 of 18
Established Contributor

Re: Well that wasn't planned...

Too many new accounts was the main reason they gave me. Which is completely legitimate. My Delta isn't even reporting yet and the Green and Paypal are both less then six months old. I suspect it also had to do with the amount I was asking for compared to income and existing expenses. Once the letters get here I can post everything they said.


Message 9 of 18
Valued Contributor

Re: Well that wasn't planned...


Default4 wrote:

Too many new accounts was the main reason they gave me. Which is completely legitimate. My Delta isn't even reporting yet and the Green and Paypal are both less then six months old. I suspect it also had to do with the amount I was asking for compared to income and existing expenses. Once the letters get here I can post everything they said.


Yeah wait and see what the letter says and give it another try. 


Last Pulled EQ: 809
Last Credit Card App: 02/05/2016
Last CLI: 02/06/2016
Find Me: Gardening
Message 10 of 18