topic Re: Approved for Penfed promise but...help in Credit Card Approvals

Approved for Penfed promise but...help

Anonymous — Tue, 03 Jul 2018 01:00:41 GMT

I applied on Sat and got a message that it was under review. Sunday I got a congratulations email. In the email it had my credit limit at $35,500 and interest rate listed. When I clicked to accept and finalize the limit had drastically dropped to $500. The person I spoke to said that is the max cl they could give me and that email didnt mean that was my actual credit line but the max that card offered. My cousin has the same card with a 40k limit. Anyone have experience with this?

Re: Approved for Penfed promise but...help

Meanmchine — Tue, 03 Jul 2018 01:08:32 GMT

Talk about a major league let down.

Sorry and congrats

Re: Approved for Penfed promise but...help

Anonymous — Tue, 03 Jul 2018 01:12:25 GMT

Right! I'm happy to be approved. Wasn't expecting that type of cl but Im blown away that they would even send that. I'm less than a year out of bankruptcy.

Re: Approved for Penfed promise but...help

pizza1 — Tue, 03 Jul 2018 01:20:52 GMT

Congrats, but it sounds like someone made a typing error or something. No-one 1 yr post BK gets a a Cl like that from PF. Id be more inclined to say $500 is your true CL. congrats open getting in!

Re: Approved for Penfed promise but...help

Anonymous — Tue, 03 Jul 2018 01:32:46 GMT

Congrats on approval

Re: Approved for Penfed promise but...help

Anonymous — Tue, 03 Jul 2018 10:03:14 GMT

@Anonymous wrote:
I applied on Sat and got a message that it was under review. Sunday I got a congratulations email. In the email it had my credit limit at $35,500 and interest rate listed. When I clicked to accept and finalize the limit had drastically dropped to $500. The person I spoke to said that is the max cl they could give me and that email didnt mean that was my actual credit line but the max that card offered. My cousin has the same card with a 40k limit. Anyone have experience with this?

Congrats on your new PenFed Promise card!

I have to admit: your explanation for your $500 SL

is the most bizarre I've read in a while. Telling you that

$35,500 is the max credit limit but only giving you $500

is Pen Fed covering their butts but not having the common

decency to tell you they made a mistake. Very unusual for

Pen Fed, as they are normally very straight shooters and they

own up to their mistakes. Congrats again, and please keep us

posted on your progress!

Re: Approved for Penfed promise but...help

Anonymous — Tue, 03 Jul 2018 16:24:40 GMT

You have any data points, I tried with PenFed and they told me no unsecured products until at least 2 years out of bankruptcy discharge.

Re: Approved for Penfed promise but...help

Anonymous — Tue, 03 Jul 2018 17:12:30 GMT

congrats on the approval. It seems odd that they would offer you $35.5K in the congratulation email and then drop it to $500. Maybe, try talking to a different CSR and see if anything can be done to increase the limit.

Re: Approved for Penfed promise but...help

AverageJoesCredit — Tue, 03 Jul 2018 21:51:59 GMT

Congrats Penfed often makes mistakes but dont step up to correct them. Ime and o

Re: Approved for Penfed promise but...help

Anonymous — Tue, 03 Jul 2018 22:33:20 GMT

659 Fico 9 score
I've had a credit one cc for about 6 months 300 limit, a wayfair card $1000 limit but never used, and a Fed Student loan.
Salary in min 100's

Re: Approved for Penfed promise but...help

Anonymous — Wed, 04 Jul 2018 02:33:21 GMT

How long have you been out of BK? I'd love to get a PenFed CC but two months out now with scores similar to yours they denied me, even on a recon.

Re: Approved for Penfed promise but...help

Anonymous — Wed, 04 Jul 2018 03:38:04 GMT

I was discharged Aug 2017. I didn't get a cc right away but I tried credit one first. Should have done cap 1 but I was reading different things. I didn't think they would approve me but they did. On my way!

Re: Approved for Penfed promise but...help

Anonymous — Wed, 04 Jul 2018 03:49:09 GMT

On CapOne, did a prequal work or did you cold app and get approved? The prequal never shows up anything for me. I did burn them in the BK but I'm 2 months out from DC, nearly 3.