topic Re: PenFed Power Cash Rewards Approval in Credit Card Approvals

PenFed Power Cash Rewards Approval

Anonymous — Sat, 27 Oct 2018 04:57:09 GMT

Its been more than a year since last applied then got denied. I applied again just earlier through phone, but got denied due to short credit history (and no installment loans). However, I called again and asked for a loan officer but ended up with operations manager. She offered to move my case to a loan officer when I tried to explain my short credit history, but moved it to a senior loan officer. It was then I got approved for $1000 (APR of 14.74%). I don't want to push my luck any further to get CLI since I plan to do BT. At least I didn't waste my HP. I will be using their auto loan in the future.

Follow-up from here: https://ficoforums.myfico.com/t5/Credit-Card-Applications/PenFed-Power-Cash-Rewards-Chances/td-p/5390388

Data points (disregarding AU):

Annual income: 15000

AAoA: 12 months

EQ FICO Score 8: 775, FICO Score 9: 791

EQ Inquiries (6 mo/12 mo/24 mo): 0/0/4

Oldest Account: 18 months (w/o AU).

Accounts w/in 6 months: 0

12 months: 1

24 months: 3

No negatives at all, pristine credit file.

I already have relationship with them since last year. Used their CD since.

The manager was really helpful, unfortunately did not get her name. I will settle for $1000 and have it CLI in the future. Gonna go gardening. Next CC to apply: Ducks Unlimited, will apply 2 months before my grand road trip.

Re: PenFed Power Cash Rewards Approval

xaximus — Fri, 26 Oct 2018 14:40:01 GMT

Congrats on the approval and it'll grow quickly!

Re: PenFed Power Cash Rewards Approval

Anonymous — Fri, 26 Oct 2018 15:09:09 GMT

Thank you, kw, for the detailed post. And Congrats! on your approval.

Re: PenFed Power Cash Rewards Approval

Indycoltsfan — Fri, 26 Oct 2018 15:28:32 GMT

Welcome to the PenFed family! Congratulations!!

Re: PenFed Power Cash Rewards Approval

Anonymous — Fri, 26 Oct 2018 15:41:50 GMT

Congrats on your PenFed Power Cash approval!

Re: PenFed Power Cash Rewards Approval

Anonymous — Sat, 27 Oct 2018 05:25:54 GMT

Thanks guys!

Re: PenFed Power Cash Rewards Approval

19eighty5 — Sat, 27 Oct 2018 19:31:13 GMT

Congratulations!

Re: PenFed Power Cash Rewards Approval

Anonymous — Sat, 27 Oct 2018 19:42:36 GMT

Congrats on the penfed