topic Re: PenFed denial question in Credit Card Applications

PenFed denial question

justanotherquestion — Sun, 10 Dec 2017 20:58:05 GMT

Apllied for a penfed card and saw the denial was for garnishment suit repo and something else listed. I have nothing on my report that is negative what does this mean?

Re: Pended denial question

Moneyklutz — Sun, 10 Dec 2017 04:01:06 GMT

When is the last time you pulled a full 3B FICO report?

Re: Pended denial question

justanotherquestion — Sun, 10 Dec 2017 04:05:15 GMT

2 days ago all were clean

Re: Pended denial question

Moneyklutz — Sun, 10 Dec 2017 05:01:16 GMT

Phone call time...

If PenFed sees something that's not listed in your reports I'd suggest making sure they have the right 'you' and call them.

Re: Pended denial question

Anonymous — Sun, 10 Dec 2017 17:34:10 GMT

I was denied by PenFed recently. But the reason was that of my fico 9 score was below the guideline along with too many recent new accounts opened. OP, check your fico 9 score also to make sure it's above 640 or 650, I forgot. If it is above the requirement, call them up. Good luck

Re: Pended denial question

Anonymous — Sun, 10 Dec 2017 17:45:04 GMT

I haven't had PenFed credit in a decade, but I believe PenFed pulls LexisNexis for verification/ID questions. If so, they're also seeing anything on your LexisNexis credit report.

Many folks freeze LN permanently (it causes some verification issues with CUs like PenFed but you can get over that manually).

I'd suggest you (and everyone) request your LN reports (all of them) and then freeze any you don't want pulled in the future.

Re: Pended denial question

justanotherquestion — Sun, 10 Dec 2017 18:52:37 GMT

The message from them states fico 676
Declined- suit garnishment foreclosure repo

What gives ive never had any of that ever and sure isnt on my reports today

Re: Pended denial question

Anonymous — Sun, 10 Dec 2017 20:06:35 GMT

I just remember something. When I applied for PenFed, I failed my identity verification using public record and had to call in. The rep used my info on the credit report to verify my identity before denying my app. Following another member's advise, I recently ordered a copy of my public record from Lexis Nexis. I'm planning to order one from Innovis next week. I did not know we are allowed to free our public record. If I request for a freeze with Lexis Nexis, will it cause more trouble for me down the line when I app for new credit cards?

Re: Pended denial question

Anonymous — Tue, 12 Dec 2017 04:49:52 GMT

@justanotherquestion wrote:
The message from them states fico 676
Declined- suit garnishment foreclosure repo

What gives ive never had any of that ever and sure isnt on my reports today

Have you called them yet?

Re: Pended denial question

Anonymous — Wed, 13 Dec 2017 03:35:44 GMT

I Got denied by PenFed today too
They said my income wasn't high enough and I'm grossing 95k. They also said my balances were too high when I have 6% UTI. My Equifax FICO is 717. I have perfect payment history on four or five cards best two years

Re: Pended denial question

Anonymous — Wed, 13 Dec 2017 04:59:38 GMT

Trendcat, have you considered calling and speaking to a LO about a reconsideration?

Re: PenFed denial question

Anonymous — Thu, 28 Jun 2018 14:11:30 GMT

I was denied for PenFed promise visa and PenFed Amex , my denial letter said pyramiding debts & past/present credit obligations , my equifax score said 693 on the letter !

Re: PenFed denial question

Anonymous — Thu, 28 Jun 2018 15:30:25 GMT

@Anonymous wrote:
I was denied for PenFed promise visa and PenFed Amex , my denial letter said pyramiding debts & past/present credit obligations , my equifax score said 693 on the letter !

What that means is that you probably acquired too many other credit cards and/or loans recently before you applied to PenFed. PenFed is sensitive to the number of new accounts, and I was a little worried about that when I got my own Power Cash Rewards last July (though it was a pre-approved offer), since I'd gotten two other cards within the past month.