topic Re: Penfed Under Review in Credit Card Applications

Penfed Under Review

Honeykissez — Tue, 30 Mar 2021 22:39:46 GMT

I applied earlier today for the Power Cash card and my application is under review. I then got an email asking for my license, ss card, and a utility bill. Is that usually a good sign? Tia

Re: Penfed Under Review

Anonymous — Tue, 30 Mar 2021 22:56:43 GMT

I would say so - it means you're still being assessed. If they plan to deny you it's not worth their effort to do an ID verify. It seems that historically on here (for lenders in general), getting to this stage usually is followed by an approval.

Re: Penfed Under Review

FinStar — Tue, 30 Mar 2021 22:58:11 GMT

It's a sign that the application is moving in the right direction, but this request is preliminary to ensure things are compliant with verifying your identity from the info provided on your application. Once they receive the requested documents it'll move to the next stage of review.

Keep us posted.

Re: Penfed Under Review

Honeykissez — Thu, 01 Apr 2021 20:32:54 GMT

Just an update. Application is still under review from Tuesday. I called yesterday to check the status and was told that they haven't gotten to my application yet but the rep said my documents were cut off so I sent them again. She verified they were good so the 24-48 hours restarts again supposedly from yesterday 🙄 even tho they never touched my application to begin with.

Re: Penfed Under Review

FinStar — Thu, 01 Apr 2021 21:50:27 GMT

Sometimes these things can take a little time. I mean, in the grand scheme of things, it's only been a couple days since you applied Give it until this weekend (or early next week) for the results. Not sure if they'll be open tomorrow due to the upcoming holiday.

Re: Penfed Under Review

Anonymous — Fri, 02 Apr 2021 02:18:36 GMT

Keep calling them, thats ok. I had to call them three times and upload docs three times . Seems like there is an issue with their document upload.Finally got approved today!!

Re: Penfed Under Review

Honeykissez — Fri, 02 Apr 2021 02:48:36 GMT

@Anonymous wrote:
Keep calling them, thats ok. I had to call them three times and upload docs three times . Seems like there is an issue with their document upload.Finally got approved today!!

Congratulations! I'll check back with them tomorrow afternoon

Re: Penfed Under Review

bettercreditguy1 — Fri, 02 Apr 2021 09:19:23 GMT

. The app process is similar to when I applied. Unlike instantaneous approvals from other companies, PenFed is detailed about its applicants. If I remember correctly it was about a ten day process.

Their products are awesome, Representatives knowledgeable and polite, and each process for apps or questions highly professional and perfectly executed. If you like white table dining then I highly recommend them with 6 stars. I've been savoring an over 10 year relationship. Best Wishes for success!

Re: Penfed Under Review

Anonymous — Fri, 02 Apr 2021 17:47:51 GMT

Guys, i just casually logged into penfed. When i clicked on applications, i see the application pending now. Yesterday, i got the email approval like i posted. Even the website posted its approved. Now that i see it pending, should i contact them again?

Re: Penfed Under Review

Anonymous — Fri, 02 Apr 2021 18:25:12 GMT

It wouldn't hurt to see what's going on. I'd give them a call and just nicely ask them if they need anything else.

Re: Penfed Under Review

Honeykissez — Fri, 02 Apr 2021 20:46:45 GMT

I was denied. I'll stick to nfcu.

Re: Penfed Under Review

FinStar — Fri, 02 Apr 2021 21:06:14 GMT

Oh noes @Honeykissez. Did they provide any reason(s) as to the denial?

Re: Penfed Under Review

Honeykissez — Fri, 02 Apr 2021 23:39:51 GMT

Yea a whole bunch of Bull I believe. I am 7 months post bk but they are bk friendly. I'll try and put the pictures in.

I'm still in rebuild so my revolving accounts are new. I did just get approved for an auto loan with nf last month. And I have student loans that total like $24k and I pay on them even tho I don't have to. I'll just take this loss with a smile on my face and move on.

Re: Penfed Under Review

FinStar — Fri, 02 Apr 2021 23:58:23 GMT

@Honeykissez wrote:
Yea a whole bunch of Bull I believe. I am 7 months post bk but they are bk friendly. I'll try and put the pictures in.
I'm still in rebuild so my revolving accounts are new. I did just get approved for an auto loan with nf last month. And I have student loans that total like $24k and I pay on them even tho I don't have to. I'll just take this loss with a smile on my face and move on.

Thanks for sharing the reasons @Honeykissez.

While it's not the outcome you had expected, don't let this discourage you from pursuing them in the future. Sure, the denial may sting at first, but it doesn't mean you won't qualify in the future. Given that you're still in rebuild mode, just give things some time. As you know, there's plenty of PenFed [post-BK] success stories and the good thing about them is that they are BK-friendly

Re: Penfed Under Review

bettercreditguy1 — Sat, 03 Apr 2021 14:50:48 GMT

@Anonymous wrote:
Guys, i just casually logged into penfed. When i clicked on applications, i see the application pending now. Yesterday, i got the email approval like i posted. Even the website posted its approved. Now that i see it pending, should i contact them again?

Usually Pending means approved. It's the final step to get your file updated in their system, order the new member papers, send the order to get number ffor your account, get it the CC printed (if that was your product, etc). If I remeber I got an email and then the action began to happen! The documents soon arrived. Best of wishes for sucess and uses for your new card.