PenFed membership approval

[Anonymous]

As some of you may know I recently posted a thread asking if PenFed was bk friendly when it comes to membership and my EQ score being a 598 at the time, an open chapter 13 that is one year old, and having a ton of HP's from my young and dumb days a year and some change ago. I was told that I most likely would only be approved for a savings account. After disputing some inaccurate info and seeing my score jump up to 626 on EQ, I decided to app for membership and was approved for both a savings and checking!! Thinking about apping for the secured card which I will probably be denied for but they're using the same HP so it's worth a shot! Here's to building a good relationship with PenFed!

[Anonymous]

Congrats on the approval...and thanks for sharing.

[Anonymous]

Thank you! Do I have to call in an ask about their secured card? Noticed it wasn't on the website. Or do they not offer it anymore?

[Anonymous]

I'm not as familiar with PenFed as I am NFCU.  I suggest calling them to see if the product is still available.

[Anonymous]

When I applied for their card (approx 2.5 weeks ago) I was denied. I then asked about the secured, hoping to start a positive line with them. The person helping me said that the reason it isn't on their site is that since they moved to the tiered system for their cards (with lower scores getting higher interest) it isn't really being offered any more. When I pressed her on what that meant she told me that the requirements for the secured card are now the same as those for an unsecured and therefore it doesn't make sense for them to continue to offer the secured card. She gave me a couple suggestions on my report and offered to contact me in 3-6 months to see if I was qualified then. You may have better luck or perhaps they changed their mind but that was what I was told. Their customer service is excellent so you could always call and ask.