topic Re: Penfed chances in Credit Card Applications

Penfed chances

tbea1004 — Sun, 05 May 2019 14:38:36 GMT

If the EQ score is in the low 700s and 1 charge off that is around 5 years old and a late payment is 5 years old, AAOA 4.5 years and util under 10% is there a chance to get approved for Penfed card or PLOC?

Re: Penfed chances

pinkandgrey — Sun, 05 May 2019 14:42:45 GMT

I don’t personally have any PenFed accounts, but I would think that you could be approved. Your AAoA is good, scores are good enough, and utilization is low. Good luck!

Re: Penfed chances

AverageJoesCredit — Sun, 05 May 2019 14:42:50 GMT

Never know til you try. Penfed is a flip of coin for most. If you have too much credit or some other factor they dont like, theyll eat your heart for breakfast and spit you out . If they like you you might get lucky and get 10k.Cointoss

Re: Penfed chances

Anonymous — Sun, 05 May 2019 18:36:50 GMT

Penfed is a bit unpredictable. As long as your willing to accept an inquiry there isn't really any risk to applying. My guess is you will get approved but like I said they can be a bit hit and miss.

Re: Penfed chances

tbea1004 — Sun, 05 May 2019 19:42:17 GMT

Is any Penfed card harder to get approved for than the others or is it the same for all the cards?

Re: Penfed chances

DaveInAZ — Sun, 05 May 2019 21:55:08 GMT

@tbea1004 wrote:
Is any Penfed card harder to get approved for than the others or is it the same for all the cards?

Well, the Platinum Rewards is a Visa Signature card which means a minimum $5k CL, so that is harder. And Pathfinder is a Penfed issued Amex, so it's also harder. The Penfed Promise has no rewards so it is probably the easiest, but Power Cash Rewards is also fairly easy but is only a 1.5% reward card unless you're active military or have a checking account with minimum $500 balance or $500/mo. in direct deposits for 2% rewards. But as others have noted Penfed is really hit or miss.

Re: Penfed chances

Anonymous — Sun, 05 May 2019 22:03:50 GMT

@DaveInAZ wrote:
@tbea1004 wrote:
Is any Penfed card harder to get approved for than the others or is it the same for all the cards?
Well, the Platinum Rewards is a Visa Signature card which means a minimum $5k CL, so that is harder. And Pathfinder is a Penfed issued Amex, so it's also harder. The Penfed Promise has no rewards so it is probably the easiest, but Power Cash Rewards is also fairly easy but is only a 1.5% reward card unless you're active military or have a checking account with minimum $500 balance or $500/mo. in direct deposits for 2% rewards. But as others have noted Penfed is really hit or miss.

Power Cash Rewards is a VISA Signature as well. I swear I have seen them with less than $5K though (maybe not?) and of so it’s probably easier to get than the Platinum Rewards but not as easy as Gold (I’m not so sure Promise is easy to get considering the 4.99% on BTs and no fees).

Re: Penfed chances

AverageJoesCredit — Sun, 05 May 2019 22:38:59 GMT

I couldnt even get the gold when my fico 9 was 800. For cards that csn be beat elsewhere, they sure are guarded like 5/24

Re: Penfed chances

DaveInAZ — Sun, 05 May 2019 22:57:54 GMT

@Anonymous wrote:
@DaveInAZ wrote:
@tbea1004 wrote:
Is any Penfed card harder to get approved for than the others or is it the same for all the cards?
Well, the Platinum Rewards is a Visa Signature card which means a minimum $5k CL, so that is harder. And Pathfinder is a Penfed issued Amex, so it's also harder. The Penfed Promise has no rewards so it is probably the easiest, but Power Cash Rewards is also fairly easy but is only a 1.5% reward card unless you're active military or have a checking account with minimum $500 balance or $500/mo. in direct deposits for 2% rewards. But as others have noted Penfed is really hit or miss.
Power Cash Rewards is a VISA Signature as well. I swear I have seen them with less than $5K though (maybe not?) and of so it’s probably easier to get than the Platinum Rewards but not as easy as Gold (I’m not so sure Promise is easy to get considering the 4.99% on BTs and no fees).

Oh, I've seen a PCR with less than $5k, it was in my hot little hands. They approved me for one early 2017 with only a $1,200 CL, I don't remember if the card said 'Signature'. I closed it and my Penfed checking in July 2017 when I was approved for the PayPal 2% Cashback MC with $7k CL, it was no long worth the bother. I'm pretty sure Visa allows a card to be a "Signature" with less than a $5k CL, but Penfed sent me a mailer for the Platinum Rewards and it said "minimum $5,000 CL".

Re: Penfed chances

Anonymous — Sun, 05 May 2019 23:06:46 GMT

@DaveInAZ wrote:
@Anonymous wrote:
@DaveInAZ wrote:
@tbea1004 wrote:
Is any Penfed card harder to get approved for than the others or is it the same for all the cards?
Well, the Platinum Rewards is a Visa Signature card which means a minimum $5k CL, so that is harder. And Pathfinder is a Penfed issued Amex, so it's also harder. The Penfed Promise has no rewards so it is probably the easiest, but Power Cash Rewards is also fairly easy but is only a 1.5% reward card unless you're active military or have a checking account with minimum $500 balance or $500/mo. in direct deposits for 2% rewards. But as others have noted Penfed is really hit or miss.
Power Cash Rewards is a VISA Signature as well. I swear I have seen them with less than $5K though (maybe not?) and of so it’s probably easier to get than the Platinum Rewards but not as easy as Gold (I’m not so sure Promise is easy to get considering the 4.99% on BTs and no fees).
Oh, I've seen a PCR with less than $5k, it was in my hot little hands. They approved me for one early 2017 with only a $1,200 CL, I don't remember if the card said 'Signature'. I closed it and my Penfed checking in July 2017 when I was approved for the PayPal 2% Cashback MC with $7k CL, it was no long worth the bother. I'm pretty sure Visa allows a card to be a "Signature" with less than a $5k CL, but Penfed sent me a mailer for the Platinum Rewards and it said "minimum $5,000 CL".

Yeah I swore I had seen some PCRs with low limits around here.

VISA Siggies can definitely be cards with less than $5K - Chase Amazon and US Bank Cash+ being great examples that are always VS - I just wasn’t sure if PenFed offered regular VISA cards like Navy Federal if you don’t get the $5K SL, if they issue VS regardless, or if it’s a denial.

Re: Penfed chances

Anonymous — Mon, 06 May 2019 07:14:52 GMT

Not too much to add except, I have a $4K PenFed Power Cash Rewards Card. Took a quick look at it and it is not a Visa Signature. It is regular Visa.

Re: Penfed chances

Hex — Mon, 06 May 2019 08:24:34 GMT

If you get a PCR’s Card with a limit of at least 5K you get the signature version. Less than that you get the platinum version. The platinum will never be upgraded to the signature version even if your limit increases to 5K. I have one of each flavor.

Penfed Pathfinder chances

tbea1004 — Thu, 16 May 2019 13:49:47 GMT

In the past I accidentally burned Amex. Now that I am back on track I have been looking at the cards Penfend has to offer and I am kinda interrested in the Pathfinder card which uses the Amex network. Will my past with Amex keep me from getting the Pathfinder?

Re: Penfed Pathfinder chances

simplynoir — Thu, 16 May 2019 13:53:19 GMT

No, the Pathfinder card just uses the AMEX network to process transactions that's it. Penfed will be the financial institution you'll be dealing with as far as seeking an approval.

Re: Penfed Pathfinder chances

Shooting-For-800 — Thu, 16 May 2019 16:38:59 GMT

I burned Amex and got a Propel Amex card.

GL!

Re: Penfed Pathfinder chances

J-F168 — Fri, 17 May 2019 13:30:55 GMT

Nope, I burned amex in bk and took me 2 yrs post bk to receive my first product with penfed. Always put your real salary cuz they can request POI.