topic Re: Unexpected Approval from PenFed and Discover in Credit Card Approvals

Unexpected Approval from PenFed and Discover

Ontime1010 — Fri, 12 Jun 2020 07:37:08 GMT

PenFed approval for PCR $15000.
Discover approval for $8000.

Unexpected because my ch13 discharged in April of this year and I didn't expect to be approved for either of these cards.

Some DP that I think may be relevant.

PenFed: I have a fairly long relationship with them mostly banking. I app'd for the PCR and the platinum last year and both denied. I opened a secured loan for $300 right after and made my final payment a few days ago. I also keep several thousand in their online savings. I'm sure the loan and savings didn't hurt. EQ9 was 726.

Discover: I've done their preapproval site dozens of times and finally got through. The only change on my report from my last rejection 8 days ago were my student loans showing back up as positive trade lines along with their old age ~7 years. EX Fico 8 667.

I also have a few subprime cards (credit one, merrick) that are positive with the oldest being 2 years and youngest a couple months.

I'm honestly really shocked especially with the PenFed approval. It feels like all those years grinding through the ch13 then playing with the subprimes are starting to payoff. Thanks for everyone in these forums whose words I've looked to for advice navigating these things.

Re: Unexpected Approval from PenFed and Discover

AllZero — Fri, 12 Jun 2020 07:45:11 GMT

Congratulations on your approvals!

Re: Unexpected Approval from PenFed and Discover

Anonymous — Fri, 12 Jun 2020 08:03:08 GMT

Congrats on your approvals!

Re: Unexpected Approval from PenFed and Discover

Anonymous — Fri, 12 Jun 2020 08:31:06 GMT

@Ontime1010 Welcome to the forum! Super Congrats on your PenFed and Disco approvals!

Re: Unexpected Approval from PenFed and Discover

EverForward — Fri, 12 Jun 2020 09:59:07 GMT

Congratulations 🍾🎉🎊🎈 Nice cards and SL 😀

Re: Unexpected Approval from PenFed and Discover

Anonymous — Fri, 12 Jun 2020 10:40:32 GMT

Congrats on your approvals by two excellent lenders.

Re: Unexpected Approval from PenFed and Discover

CreditCrusader — Fri, 12 Jun 2020 12:14:13 GMT

@Ontime1010 wrote:
PenFed approval for PCR $15000.
Discover approval for $8000.

Unexpected because my ch13 discharged in April of this year and I didn't expect to be approved for either of these cards.

Some DP that I think may be relevant.

PenFed: I have a fairly long relationship with them mostly banking. I app'd for the PCR and the platinum last year and both denied. I opened a secured loan for $300 right after and made my final payment a few days ago. I also keep several thousand in their online savings. I'm sure the loan and savings didn't hurt. EQ9 was 726.

Discover: I've done their preapproval site dozens of times and finally got through. The only change on my report from my last rejection 8 days ago were my student loans showing back up as positive trade lines along with their old age ~7 years. EX Fico 8 667.

I also have a few subprime cards (credit one, merrick) that are positive with the oldest being 2 years and youngest a couple months.

I'm honestly really shocked especially with the PenFed approval. It feels like all those years grinding through the ch13 then playing with the subprimes are starting to payoff. Thanks for everyone in these forums whose words I've looked to for advice navigating these things.

The size of the CLs is a bit surprising, but not the approvals (to me, anyway).

Look at it this way: You just finished repaying your debts per the court and trustee's approved plan. That took anywhere from 3-5 years, as opposed to a BK7 that just wipes the debts away. That they now trust you to repay unsecured debts is reasonable, in my book.

Congrats!

Re: Unexpected Approval from PenFed and Discover

Gmood1 — Fri, 12 Jun 2020 13:04:08 GMT

Awesome approvals!! A big congrats to you!!

Re: Unexpected Approval from PenFed and Discover

Creditmakhi — Fri, 12 Jun 2020 14:18:18 GMT

congrats @Ontime1010 penfed extending credit like candy for the past 2 months ..

Re: Unexpected Approval from PenFed and Discover

M_Smart007 — Fri, 12 Jun 2020 14:30:02 GMT

Re: Unexpected Approval from PenFed and Discover

Rebuild2019 — Fri, 12 Jun 2020 14:46:21 GMT

Congrats 🎊🎈🎉 on your Discover & PenFed approval.

Re: Unexpected Approval from PenFed and Discover

gdale6 — Fri, 12 Jun 2020 15:47:04 GMT

Sweet, always nice when good things come unexpectedly, congrats to both

Re: Unexpected Approval from PenFed and Discover

CreditAggie — Fri, 12 Jun 2020 17:40:46 GMT

Congratulations on your PenFed and Discover approvals and nice SLs!

Re: Unexpected Approval from PenFed and Discover

mrcraft — Fri, 12 Jun 2020 18:09:33 GMT

Congratulations on your approvals!!

Re: Unexpected Approval from PenFed and Discover

Anonymous — Fri, 12 Jun 2020 19:28:59 GMT

Congrats on your PenFed and Discover approvals!

Re: Unexpected Approval from PenFed and Discover

ScoreSizzle — Fri, 12 Jun 2020 20:33:42 GMT

Wha, What?!?! Congrats!!!

Re: Unexpected Approval from PenFed and Discover

DebtStinks — Fri, 12 Jun 2020 22:36:42 GMT

I just got approved for a PenFed card today and our FICO scores they pulled are only 2 points apart. I'm curious if my APR received (albeit a different card) is in line with yours. May I ask the APR you received?

Thanks

Btw, congrats on the approvals and your CH13 BK discharge!

Re: Unexpected Approval from PenFed and Discover

Ontime1010 — Fri, 12 Jun 2020 22:48:53 GMT

16.99%

and congrats on your approval as well.

Re: Unexpected Approval from PenFed and Discover

Anonymous — Sat, 13 Jun 2020 02:17:50 GMT

Congratulations on your approvals! Always love seeing a story/DPs too. So important for people that may be in a similar situation.

Re: Unexpected Approval from PenFed and Discover

slickwidit — Sat, 13 Jun 2020 02:24:23 GMT

Congratulations on the huge SL from Uncle PenFed and Ms. Disco