topic 4th PenFed card approved! in Credit Card Approvals

4th PenFed card approved!

Anonymous — Sat, 14 Sep 2019 23:22:20 GMT

I thought I’d provide a data point. I was always under the impression PenFed would only allow 3 cards max. Did a little fishing (or what I call drunk apping) and I was shocked to get approved for the PenFed Gold with a $10,000 limit. I have an Amex Pathfinder at $5,000, Amex Travel Rewards at $10,000 and a Platinum rewards at $12,000. I also have a personal loan with them I was just approved for. PenFed is hot for my file I guess!

Re: 4th PenFed card approved!

gjean78 — Sat, 14 Sep 2019 23:32:49 GMT

congratulations on your approval and your success with pen fed. btw you mind share some of the data points such your credit score, utilization, your income to debt ratio, which Bureau they pull. since I'm a veteran i want to joind pen fed to see what they all about

Re: 4th PenFed card approved!

Anonymous — Sat, 14 Sep 2019 23:35:41 GMT

Congrats on your another PenFed approval! They really love you!

Re: 4th PenFed card approved!

M_Smart007 — Sun, 15 Sep 2019 01:02:48 GMT

Congrats!

Re: 4th PenFed card approved!

AllZero — Sun, 15 Sep 2019 01:10:46 GMT

Congratulations on your approval and the data points!

I wasn't sure myself what was with allowable CCs. I think I've only seen 3 as posted on member's signature.

Re: 4th PenFed card approved!

JR_TX — Sun, 15 Sep 2019 02:36:26 GMT

Aaaaah! Nothing beats drunk apping!
Congrats on your 4th PF!

Re: 4th PenFed card approved!

JoeLuvsHisCredit — Sun, 15 Sep 2019 02:46:20 GMT

Re: 4th PenFed card approved!

Anonymous — Sun, 15 Sep 2019 05:05:25 GMT

@Anonymous wrote:
I thought I’d provide a data point. I was always under the impression PenFed would only allow 3 cards max. Did a little fishing (or what I call drunk apping) and I was shocked to get approved for the PenFed Gold with a $10,000 limit. I have an Amex Pathfinder at $5,000, Amex Travel Rewards at $10,000 and a Platinum rewards at $12,000. I also have a personal loan with them I was just approved for. PenFed is hot for my file I guess!

@Anonymous Congrats, that is awesome. They do love your profile for sure.

In the past 2 years, i've never heard of a limit on how many PF cards you can have, but i have heard many times that your overall exposure is limited to 50k with them.

Navy has a 3 card limit. They don't limit the exposure to 50k.

Re: 4th PenFed card approved!

Anonymous — Sun, 15 Sep 2019 05:09:01 GMT

@gjean78 wrote:
congratulations on your approval and your success with pen fed. btw you mind share some of the data points such your credit score, utilization, your income to debt ratio, which Bureau they pull. since I'm a veteran i want to joind pen fed to see what they all about

@gjean78

I can tell you from my EXP PF is great for lower rates on loans usually, but they are a bit more conservative (cpmpared to Navy) unless you have a clean file or high income. I've had the same 3k limit for over a year now on a 2yr old card that started at 2.5k. I also have a large car loan and personal loan too, so that might be part of it.

Re: 4th PenFed card approved!

Aim_High — Sun, 15 Sep 2019 05:50:57 GMT

@Anonymous wrote:
I thought I’d provide a data point. I was always under the impression PenFed would only allow 3 cards max. Did a little fishing (or what I call drunk apping) and I was shocked to get approved for the PenFed Gold with a $10,000 limit. I have an Amex Pathfinder at $5,000, Amex Travel Rewards at $10,000 and a Platinum rewards at $12,000. I also have a personal loan with them I was just approved for. PenFed is hot for my file I guess!

Congrats @Anonymous and welcome to My Fico forums!

That's a nice collection of PenFed cards! Enjoy!

Re: 4th PenFed card approved!

Anonymous — Sun, 15 Sep 2019 06:31:08 GMT

PenFed will give you your monthly credit csore if you have a checking or savings acount with them - they pulled my FICO 9 Equifax. I think...let me double-check the letter states which bureau was pulled. Get back to you tomorrow but I do know it was the FICO 9 score, not FICO 8.

Re: 4th PenFed card approved!

Anonymous — Sun, 15 Sep 2019 13:40:23 GMT

@Anonymous wrote:
PenFed will give you your monthly credit csore if you have a checking or savings acount with them - they pulled my FICO 9 Equifax. I think...let me double-check the letter states which bureau was pulled. Get back to you tomorrow but I do know it was the FICO 9 score, not FICO 8.

@Anonymous If you have a credit product PF/Navy will give you your Fico9 score which is the one they base some of there decisions on. PF is EQ9 all the way, and Navy is EQ9 for CLI/loans/CLOC and TU9 for New cards. THis can be a YMMV as in some cases another lender is pulled, but for the most part 98% of the time that is the CB they use for those apps.

Re: 4th PenFed card approved!

AverageJoesCredit — Sun, 15 Sep 2019 14:45:05 GMT

Penfed only gives you a score if you have a credit product with them to the best of my knowledge.

Re: 4th PenFed card approved!

credit_is_crack — Sun, 15 Sep 2019 15:33:58 GMT

Congrats on the PenFed Quad @Dave4585! I’m a big fan of PenFed and they’re so easy to work with. I think they are similar to USAA where you can have as many as they’ll approve you as long as you don’t get to $50k in total limits. There are RARE exceptions of folks going passed $50k but for us regular folk it seems to be a firm line. Nice Job!

Re: 4th PenFed card approved!

Anonymous — Fri, 20 Sep 2019 00:59:07 GMT

Is everyone eligible to apply for PenFed CC's?

Re: 4th PenFed card approved!

Pro-X — Fri, 20 Sep 2019 01:19:06 GMT

Congrats on your approval!!

Re: 4th PenFed card approved!

Anonymous — Fri, 20 Sep 2019 02:10:30 GMT

@Anonymous wrote:
Is everyone eligible to apply for PenFed CC's?

@Anonymous

You just have to be a member and PF is one that you can join by donating to a group to get in if you don't have military (or family) that can get you in.