topic Re: PenFed Pathfinder Approved in Credit Card Approvals

PenFed Pathfinder Approved

Anonymous — Wed, 20 Feb 2019 01:17:21 GMT

Approved today for $1.5k after income verification (https://ficoforums.myfico.com/t5/Credit-Card-Applications/PenFed-PENDING-WITH-LOAN-OFFICER-Update-Approved/m-p/5509203). On recon, the PenFed loan officer was a bit concerned about my available credit to income ratio.

Since I got the card primarily for the perks (https://ficoforums.myfico.com/t5/Credit-Cards/Free-TSA-Pre-check/td-p/5468607), having a low CL is not a bad thing in the long run, though it makes getting the SUB a pain.

It seems I took my $2.5k instant approval with BofA for granted at the time (https://ficoforums.myfico.com/t5/Credit-Card-Approvals/BofA-Instant-Approval-Sad-SL/td-p/5474987)... Learning to count my blessings in the garden!

Re: PenFed Pathfinder Approved

Anonymous — Wed, 20 Feb 2019 01:23:31 GMT

Congrats on the new card!

Yes, PenFed is a conservative lender. Assuming you don’t have a very high income? They tend to have a pretty awful rep amongst the LIErs here so I have put them on the “don’t bother” list since I’m in the VLIErs club.

Re: PenFed Pathfinder Approved

Remedios — Wed, 20 Feb 2019 01:23:41 GMT

Congrats on your approval!

Re: PenFed Pathfinder Approved

AverageJoesCredit — Wed, 20 Feb 2019 01:26:53 GMT

Congrats Grassy. It is what it is with PF. Im currently working on one more Credit Union and if it pans out im closing PF for good. That $5 will buy alot of Powerball tick...

Re: PenFed Pathfinder Approved

simplynoir — Wed, 20 Feb 2019 01:34:58 GMT

Congratulations

Re: PenFed Pathfinder Approved

Anonymous — Wed, 20 Feb 2019 01:39:13 GMT

Congrats!

Re: PenFed Pathfinder Approved

kdm31091 — Wed, 20 Feb 2019 02:00:36 GMT

I think available credit vs income is something people don't point out often enough. It certainly doesn't always (or even nearly always) matter, but some lenders can and do scrutinize it, so it pays to only have cards/limits you will really use because otherwise you could appear as a credit risk to picky lenders, who feel you could run up more debt than you pay off when you have inflated available credit vs income. Just something to always keep in mind and keep us grounded.

Re: PenFed Pathfinder Approved

Gmood1 — Wed, 20 Feb 2019 02:03:06 GMT

Congrats grasshopper!! The limit will grow! Give it some time.

Re: PenFed Pathfinder Approved

Anonymous — Wed, 20 Feb 2019 03:08:04 GMT

Congrats, nice pull!

Re: PenFed Pathfinder Approved

Anonymous — Wed, 20 Feb 2019 03:39:58 GMT

@Anonymous wrote:
Approved today for $1.5k after income verification (https://ficoforums.myfico.com/t5/Credit-Card-Applications/PenFed-PENDING-WITH-LOAN-OFFICER-Update-Approved/m-p/5509203). On recon, the PenFed loan officer was a bit concerned about my available credit to income ratio.

Since I got the card primarily for the perks (https://ficoforums.myfico.com/t5/Credit-Cards/Free-TSA-Pre-check/td-p/5468607), having a low CL is not a bad thing in the long run, though it makes getting the SUB a pain.

It seems I took my $2.5k instant approval with BofA for granted at the time (https://ficoforums.myfico.com/t5/Credit-Card-Approvals/BofA-Instant-Approval-Sad-SL/td-p/5474987)... Learning to count my blessings in the garden!

Congratulations to you! I love PenFed. Enjoy!

Re: PenFed Pathfinder Approved

19eighty5 — Thu, 21 Feb 2019 00:54:35 GMT

Congratulations on your approval!

Re: PenFed Pathfinder Approved

kugel — Thu, 21 Feb 2019 17:06:34 GMT

What income did u give ?
How long is your credit

Re: PenFed Pathfinder Approved

pinkandgrey — Thu, 21 Feb 2019 20:16:42 GMT

Congrats! Approval is always better than denial, eh? I’m sure it will grow well.