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Established Contributor
Posts: 651
Registered: ‎08-07-2012
0

What Credit Score for Penfed Card?

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

EQ-732FICO,EX-PLUS 740,TU-725FICO
Goal 750 Across

NFCU Signature Cash Rewards Visa, Chase Freedom Visa, Wells Fargo Visa Secured
Regular Contributor
Posts: 123
Registered: ‎07-22-2012
0

Re: What Credit Score for Penfed Card?

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

Jun 2012 FICO® ~ 734 EQ
Sep 2012 FICO® ~ 684 EQ; 734 TU
Oct 2012 FICO® ~ TBA

Goal for 2014 ~760+

Trying to stay in the garden...but also trying to get as many apps as possible for now Smiley Wink
Regular Contributor
Posts: 214
Registered: ‎08-02-2012
0

Re: What Credit Score for Penfed Card?

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.

started mid 500's. Disputed incorrect items and within a month or two my scores have skyrocketed and continue to do so
EQ: 755 as of 8/2013
TU: 700
Experian(or as I call them, the devil) I have no clue, they haven't released my report
Goal=801 across the board!!! Not too far from this, hoping to garden until Christmas 2013
Established Contributor
Posts: 866
Registered: ‎09-22-2011
0

Re: What Credit Score for Penfed Card?

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

Regular Contributor
Posts: 179
Registered: ‎01-17-2008
0

Re: What Credit Score for Penfed Card?

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

Super Contributor
Posts: 6,672
Registered: ‎04-07-2008
0

Re: What Credit Score for Penfed Card?

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.




Contributor
Posts: 92
Registered: ‎06-16-2012
0

Re: What Credit Score for Penfed Card?


namvet wrote:

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


+1

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 ***
New Visitor
Posts: 1
Registered: ‎04-24-2013
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Re: What Credit Score for Penfed Card?

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.

Established Contributor
Posts: 662
Registered: ‎02-20-2013
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Re: What Credit Score for Penfed Card?


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.


DCU ( pulled 3/29/13) EQ04 683 | Amex (pulled 3/28/13) EX 760 | US Bank (pulled 3/28/13) EX 753
CreditKarma (4/19/13) TU-TR 701 | TU Vantage 788 | USAA FAKO (3/31/13) EX 728, EQ 699, TU 737 |
Inquiries (4/18/13) EX 13 | EQ 13 | TU 14
Established Contributor
Posts: 871
Registered: ‎12-11-2010
0

Re: What Credit Score for Penfed Card?

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.


Starting Score: 583
Current Score: 716
Goal Score: 750+


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