Credit Cards

[MountainHiker]

Thinking about applying for the Penfed card but not sure what score range they require. Any idea?

[SportBike4Life]

I would say probably 720+ and depending on your income.

[beautybrainsbooty]

Penfed is tough. Even if your score IS high. They recently turned me down for...wait, what was it?oh lack of revolving and I have a great score and even better income. Not even a starter card offer. I am keeping my account open with them because there products and service really are cream of the crop.

[namvet]

Penfed likes to see EQ scores above 700 and no recent inquires on your report.

[mr_postman]

I app for penfed 2 days ago platinum rewards visa and was approved for 20,500

my current score during the appl was 706 EQ 0 INQ for the last 6 month income was 89,000

[CS800]

I was declined last year for a CC with a 685 FICO. They are tough but have great competitive rates, so I keep my checking open with them.

[A_Madel]

---

namvet wrote:

Penfed likes to see EQ scores above 700 and no recent inquires on your report.

---

+1

[pgk500]

Hi,

  Will you be willing to share your complete details at the time of application such as utilization rate for credit care, debt to income ratio inquiries in last two years and any additional details you might think of.

Thanks

PK.

[NJTurnpike]

---

mr_postman wrote:

I app for penfed 2 days ago platinum rewards visa and was approved for 20,500

my current score during the appl was 706 EQ 0 INQ for the last 6 month income was 89,000

---

mr_postman, what other cards and limits were in your CR at the time and what was your util? any of your other cards opened within the last year.

PenFed is a tricky one. They generally give nice high limits, but will deny you for having too little credit and definitely deny you for having whatever they deem as too much credit. They absolutely hate seeing newly opened accounts when you apply for them.

[ibmrad7]

Someone I know applied on Monday, 2 recent inquiries, 100K income, Utilization 15%, AAoA 4.5 years, got approval for 20K.

FAKO TU was 730

Hope this helps.