topic Re: PenFed Question in Credit Card Applications

PenFed Question

Anonymous — Mon, 25 Mar 2019 22:48:34 GMT

So I have been a PenFed member since like, 2015? When I joined I had some derogs showing on my report.. I didn't really start trying to work on or even understand credit until this time last year and have been cleaning up my file. Depending on which report I have raised my score 120-150 points since then. My question is since I opened my PenFed account (just share savings) did I shoot myself in the foot from ever getting prequals? I've heard that if you join with derogs the chances of ever getting any credit product from them is slim to none?

Re: PenFed Question

Anonymous — Tue, 26 Mar 2019 00:54:11 GMT

I joined with several Charge Offs and they approved me immediately when I applied on line for a 10,000 limit. When I applied, my credit score was 760

Re: PenFed Question

LittleSal — Tue, 26 Mar 2019 03:43:27 GMT

You should start seeing PenFed prequals about two years after your credit reports go clean.

Re: PenFed Question

AverageJoesCredit — Tue, 26 Mar 2019 14:16:06 GMT

Im of belief once you join dirty, you will be considered Atlantian for life. Im 3 years plus and no offers nor do i ever expect to get one.

Re: PenFed Question

Anonymous — Tue, 26 Mar 2019 14:30:05 GMT

I joined PenFed back in January the month after joining NFCU. Looking at their financial profile and being in the top 15 of U.S. credit unions I said "why not". I understand now why they are in top 15. They have 99 cents of every $ they have taken in!! ... "tighter than Dick's hatband" as my grandfather used to say!! ... I wrote a somewhat scathing email to their CEO multiple apps and denials/recons on their basic credit products. I was not nice in my wordage, let's just state it that way ... anyway, long story short, I could see my relationship with them was never going to amount to a hill of beans so I filed for divorce and was granted an anullment earlier in the month. We did the property settlement for $5 in savings ...

I agree with AJC on PenFed ... they are (edited for content)%%&#@!!^^$# (parental guidance suggested) ...

Re: PenFed Question

Anonymous — Tue, 26 Mar 2019 14:45:59 GMT

@Anonymous wrote:
I joined PenFed back in January the month after joining NFCU. Looking at their financial profile and being in the top 15 of U.S. credit unions I said "why not". I understand now why they are in top 15. They have 99 cents of every $ they have taken in!! ... "tighter than Dick's hatband" as my grandfather used to say!! ... I wrote a somewhat scathing email to their CEO multiple apps and denials/recons on their basic credit products. I was not nice in my wordage, let's just state it that way ... anyway, long story short, I could see my relationship with them was never going to amount to a hill of beans so I filed for divorce and was granted an anullment earlier in the month. We did the property settlement for $5 in savings ...

I agree with AJC on PenFed ... they are (edited for content)%%&#@!!^^$# (parental guidance suggested) ...

That made my morning! I guess I'll give them to the end of the year and see if we can get this relationship figured out, otherwise I'm going to go rescue my savings from them.

Re: PenFed Question

Anonymous — Wed, 27 Mar 2019 00:50:34 GMT

Have been a member for 6 + years (could be 9, but don’t remember). Only ever had a Savings account with them and never noticed any “offers”. Last year, decided to open a checking account, LOC, and personal loan. Got approvals on LOC and PL within the same month for max amounts.

However, I’ve not had derogs.

Re: PenFed Question

Meanmchine — Wed, 27 Mar 2019 01:13:54 GMT

I joined 4/2017 with one or two unpaid COs showing

1/2018 got CLI which doubled my original SL

1/2018 Last baddie falls off reports

4/2018 got preapprovls for all car, boat and RVs new or used

Nothing since

Re: PenFed Question

Anonymous — Wed, 27 Mar 2019 15:47:04 GMT

That absolutely made me laugh out loud.

I had an account with them for 3 years, was denied 3 times for their Visa with a 707 fico, 2% util, AAoa of 13 years, and the only baddie showing was a medical bill for 360 dollars from 2 years ago (that I'm still fighting) and a BK from 2012.

Last month after my latest denial with them, I told 'em to pound sand, and I closed up shop. I'll stick with Amex, Discover, and my others.

Nothing personal with them, but there are waaaaay better credit unions out there...

Re: PenFed Question

Anonymous — Thu, 28 Mar 2019 11:02:47 GMT

What is so infuriating with PenFed is while I had the account and the plethora of denials I didn't hear a peep from them ... ***crickets*** ... now that my account has been closed and they sent my $5 back to me, my inbox is being flooded with "As a valued customer you are invited to apply for 1.99% vehicle loan" --- "Since you are a valued customer why not apply for a low-interest Promise Visa?" ... ... sent copies of the emails to same CEO/COO (whatever he was) with the just the subject header, "Screw you and the horse you rode in on!" ... hit unsubscribe ...

Re: PenFed Question

Anonymous — Thu, 28 Mar 2019 11:49:17 GMT

Yep I never even became a member and I got a 1.49% auto offer yesterday, a student loan refi offer two separate times, and personal loan emails two separate times.

I think they must have just gotten their email list up and running recently because I hadn’t heard anything since September when they denied me and pushed me into NFCU and now they are sending me stuff fairly often.

Re: PenFed Question

Anonymous — Fri, 29 Mar 2019 04:25:11 GMT

Whats crazy now is I go to NFCU to get a loan to trade my current car in for another 1, with payments around $200 cheaper and NFCU wouldn't approve it. I've had car loans with them for the last 10 years or so maybe? Never missed 1 payment, all paid off early and current loan paid 2 months in advance. PenFed decided to approve me for the loan though... My mind was blown because I thought they just liked holding my $5 for me...