topic Re: Love PenFed!!! in Credit Card Approvals

Love PenFed!!!

learnandlearn — Sun, 30 Sep 2012 19:53:38 GMT

Finally took the plunge and became a member of PenFed today. Yes they pulled a hard inquiry which is available for other products applications for 30 days.

I asked the super friendly CSR about their credit cards products and asked her to app for the "Promise Visa". To my surprise I was approved with CL of $7,500; I am so glad and thankful...this is my highest CL card.

I am closing my bank accounts with Chase and transferring my money to PenFed...

Re: Love PenFed!!!

LS2982 — Sun, 30 Sep 2012 20:15:14 GMT

CONGRATS!!!

Very nice starting CL!!

Re: Love PenFed!!!

learnandlearn — Sun, 30 Sep 2012 20:19:46 GMT

Thanks. I din't expect it.

I have a Cap1 card which I pay in full and stuck on a $3,500 CL for the last 12 months and worse a 24.99% APR.

So I am very glad that I got myself a decent product with PenFed

Re: Love PenFed!!!

bettercreditguy1 — Mon, 01 Oct 2012 01:20:58 GMT

Pen Fed is a great company. Treat them well and they take care of their constituents. I recieed a 1.99% new car loan last fall from them. Their CC is really nice too. They have recently lowered my cc apr after several months of positive car payment history.

Re: Love PenFed!!!

LS2982 — Mon, 01 Oct 2012 01:50:06 GMT

@learnandlearn wrote:
Thanks. I din't expect it.
I have a Cap1 card which I pay in full and stuck on a $3,500 CL for the last 12 months and worse a 24.99% APR.
So I am very glad that I got myself a decent product with PenFed

How long have you had this card??

Re: Love PenFed!!!

Shogun — Mon, 01 Oct 2012 01:52:28 GMT

Congrats!

Re: Love PenFed!!!

learnandlearn — Mon, 01 Oct 2012 02:19:08 GMT

@LS2982 wrote:
@learnandlearn wrote:
Thanks. I din't expect it.
I have a Cap1 card which I pay in full and stuck on a $3,500 CL for the last 12 months and worse a 24.99% APR.
So I am very glad that I got myself a decent product with PenFed
How long have you had this card??

I have had it for 2 years.

Re: Love PenFed!!!

RockinRay — Mon, 01 Oct 2012 13:18:24 GMT

Congrats! PenFed is just great to do business with!

Re: Love PenFed!!!

Anonymous — Fri, 07 Dec 2012 04:07:58 GMT

Please close capital one because the lenders do not like to see capital one in your credit report for the fact that is for ppl with bad credit

Re: Love PenFed!!!

CreditChampion — Fri, 07 Dec 2012 04:42:06 GMT

This is false......maybe fo creditors like fingerhut,credit one, and first premier. Capital One actually has some prime products. What do you have against Capital One? You seem to be on mission to tell evey Capital One customer to close their accounts.

Re: Love PenFed!!!

Anonymous — Fri, 07 Dec 2012 04:51:17 GMT

@CreditChampion wrote:
This is false......maybe fo creditors like fingerhut,credit one, and first premier. Capital One actually has some prime products. What do you have against Capital One? You seem to be on mission to tell evey Capital One customer to close their accounts.

I have got to agree. ........Capital One is too big for that to be true

Capital One Financial Corp. is a U.S.-based bank holding company specializing in credit cards, home loans, auto loans, banking and savings products. A member of the Fortune 500, the company helped pioneer the mass marketing of credit cards in the early 1990s, and it is now the fourth-largest customer of the United States Postal Service and has the sixth-largest deposit portfolio in the United States

Re: Love PenFed!!!

nicholasyud — Fri, 07 Dec 2012 04:45:39 GMT

@CreditChampion wrote:
This is false......maybe fo creditors like fingerhut,credit one, and first premier. Capital One actually has some prime products. What do you have against Capital One? You seem to be on mission to tell evey Capital One customer to close their accounts.

I dont like capital one anyway but they are only one offer me some credit when i have nothing.

I used card one for every 3 months just to keep the acc open since there no AF.

Re: Love PenFed!!!

Anonymous — Fri, 07 Dec 2012 05:08:39 GMT

Congrats!!

what was your FICO score learnandlearn?

Re: Love PenFed!!!

bluesnowman — Fri, 07 Dec 2012 05:14:41 GMT

Nice! when I come out of the garden, Penfed will be one of the banks I open an account with. glad to hear you got in with them.

Re: Love PenFed!!!

Anonymous — Fri, 07 Dec 2012 05:19:38 GMT

@bluesnowman wrote:
Nice! when I come out of the garden, Penfed will be one of the banks I open an account with. glad to hear you got in with them.

You need all your ducks in a row in order to get credit with them, they are very conservative

Re: Love PenFed!!!

bettercreditguy1 — Fri, 07 Dec 2012 10:19:47 GMT

+1. Wherever you are in life, SOMEBODY has given you opportunities. Think, where would you be if First Premier, Capitol One or any banking entity, would not even give you the time of the day. I am not ashamed to take the responsibility for my missteps. I created the late payments I had by not being prepared. Yes, not having enough emergency reserve funds. It will be several months before my one and ever 60 and 90 day lates ages off. Sure it hurts my pride, however it is a reminder of where I have been and where I have come from. My Fico score was over 800 for several years and it will return soon by diligently paying my accounts on time. In closing, the Person that does not take responsibility for their own financial actions is a Joker, only fooling themselves. Merry Christmas to all!

Re: Love PenFed!!!

espnjunkie — Fri, 07 Dec 2012 21:13:25 GMT

That is certainly not true. My first credit card was the newcomers with capital one when I had no credit at all. The limit stinks, but it provided me a stepping stone to bigger and better things. Lenders care more that your accounts are all in good standing, no baddies, income/assets, utilization and aaoa.

Everyone has to start out somewhere

Re: Love PenFed!!!

bluesnowman — Fri, 07 Dec 2012 23:59:51 GMT

I've heard they are very conservative, but fortunately my scores are 710+ right now, so hopefully it will increase my chances, and then maybe after 6-7 months (more like this time next year) I'll apply for a card through them. But yes, I've heard they are very conservative and very strict.

Re: Love PenFed!!!

learnandlearn — Sat, 08 Dec 2012 00:02:20 GMT

@Anonymous wrote:
Congrats!!
what was your FICO score learnandlearn?

I think they were as such:

TU - 719

EQ - 698

EX - Who knows

Re: Love PenFed!!!

learnandlearn — Sat, 08 Dec 2012 00:06:01 GMT

@Anonymous wrote:
Please close capital one because the lenders do not like to see capital one in your credit report for the fact that is for ppl with bad credit

I don't believe Having Capital 1 on my credit report is the issue here. I had bad credit in the past and that is more likely the cause for not qualifiying for "Prime" Cards until recently.