topic Re: PenFed Approval in Credit Card Approvals

PenFed Approval

Anonymous — Fri, 16 Oct 2020 16:16:50 GMT

Just discharged chapter 7 in March of this year. Burned almost every major bank including Cap One and Discover.

In June I signed up for a SELF loan then in August got the Chime Credit Builder Card.

Credit Karma currently shows scores around 660.

I remembered I had opened a penfed savings account in 2016 with $5. Signed in today and opened a checking account to go along with it. I figured it was worth a shot so applied for the Power Cash Card and got an instant approval with a $7500 SL.

Re: PenFed Approval

AllZero — Fri, 16 Oct 2020 16:26:55 GMT

Congratulations on your approval!

Re: PenFed Approval

jmos — Fri, 16 Oct 2020 17:07:22 GMT

Wow!! Congrats on your Penfed approval!!

Re: PenFed Approval

blindambition — Fri, 16 Oct 2020 17:38:10 GMT

Congrats on the approval!! Looks like your on the right path!!! 👍🏻

Re: PenFed Approval

CreditAggie — Fri, 16 Oct 2020 17:55:20 GMT

Congratulations on your PenFed approval!

Re: PenFed Approval

raisemysc0re — Fri, 16 Oct 2020 18:25:52 GMT

Grats on the appoval and nice SL.

I just opened mine last week (still waiting on the card).

Don't forget to stick $500 in the Access America checking account to get the full 2% CB unless you are active/retired military...

Re: PenFed Approval

PullingMeSoftly — Fri, 16 Oct 2020 18:32:52 GMT

Congrats, great comeback!

Re: PenFed Approval

M_Smart007 — Fri, 16 Oct 2020 19:22:59 GMT

@Anonymous, Welcome to the forum!

Congratulations on your Penfed Approval..

Re: PenFed Approval

TSlop — Fri, 16 Oct 2020 19:31:18 GMT

Congrats on your approval!

Re: PenFed Approval

gdale6 — Fri, 16 Oct 2020 19:39:41 GMT

Very nice, a great SL for you, congrats on it and welcome to posting on myFico

Re: PenFed Approval

cashorcharge — Fri, 16 Oct 2020 20:16:09 GMT

That's terrific news! Congratulations!

Re: PenFed Approval

Anonymous — Fri, 16 Oct 2020 20:20:47 GMT

@Anonymous wrote:
... got an instant approval with a $7500 SL.

Good job, duck -- Congratulations!

Re: PenFed Approval

Wavester64 — Fri, 16 Oct 2020 20:29:31 GMT

@Anonymous wrote:
Just discharged chapter 7 in March of this year. Burned almost every major bank including Cap One and Discover.

In June I signed up for a SELF loan then in August got the Chime Credit Builder Card.

Credit Karma currently shows scores around 660.

I remembered I had opened a penfed savings account in 2016 with $5. Signed in today and opened a checking account to go along with it. I figured it was worth a shot so applied for the Power Cash Card and got an instant approval with a $7500 SL.

Congrats!

Question for you that you can answer at a later time if you can when you've used the card: I saw a Youtuber mention that if you don't have a checking account with PF, you get 1.5% CB on that card and if you do, you get 2.0%. I only see on PF's site them mentioning you need to be part of some group to get the 2%, I dont see any mention of just needing a checking account.

Re: PenFed Approval

raisemysc0re — Fri, 16 Oct 2020 22:40:58 GMT

You need to either be a current or former member of the military or have their Access America checking account with a daily average balance of $500 or direct deposit of 500/mo.

I just opened the checking account and stuck $500 in there.

Re: PenFed Approval

AverageJoesCredit — Fri, 16 Oct 2020 23:06:36 GMT

@Anonymous wrote:
Just discharged chapter 7 in March of this year. Burned almost every major bank including Cap One and Discover.

In June I signed up for a SELF loan then in August got the Chime Credit Builder Card.

Credit Karma currently shows scores around 660.

I remembered I had opened a penfed savings account in 2016 with $5. Signed in today and opened a checking account to go along with it. I figured it was worth a shot so applied for the Power Cash Card and got an instant approval with a $7500 SL.

Wow! The new Penfed rocks indeed

Re: PenFed Approval

Anonymous — Fri, 16 Oct 2020 23:27:13 GMT

Congrats!!! Penfed seems to be generous at this moment

Re: PenFed Approval

mrcraft — Sat, 17 Oct 2020 20:02:35 GMT

Congratulations on your approval!!

Re: PenFed Approval

Meanmchine — Sun, 18 Oct 2020 01:31:03 GMT

Congrats on your new PCR card and good luck with your rebuild