topic Re: PenFed Pathfinder card in Credit Card Applications

PenFed Pathfinder card

randomguy123 — Wed, 29 Dec 2021 19:59:38 GMT

Looking to apply for the Pathfinder card. I have Honors status with PenFed if that makes a difference. What are my chances of approval?

I don't know my Equifax score but my Transunion is 732 (as of last month) and my Experian is 740. I am 1/6, 3/12, and 3/24 as for cards opened in the past N months. Oldest account is about 7 months old, total credit (across all 3 accounts I have) is $5.5K. I am a student and looking to use some of the travel benefits on the card -- my income is around $30K.

There isn't a prequal page right? (I can't find one.)

Thanks!

Re: PenFed Pathfinder card

SUPERSQUID — Wed, 29 Dec 2021 20:34:22 GMT

There is no prequal for penfed. They have been approving a fair amount of cc apps this month including me, most for the power cash rewards card. I have seen a fair amount of apps get approved lately with scores in the 600's with a lot of inqs and a bk showing. in my case my eq9 was 682 and my bk7 was dc 1 year 11 mos, i had over 20 inq's and many new accts, my dti was 8-9 pct and overall util at 24 pct, my income is 36000. instant approval for 7.5k at 16.99

I am also an honors member so the card gives 2 pct cb.

i had a savings with 15 bucks in it when i applied, no checking or dd.

that said i think its harder to get pathfinder but maybe someone else can chime in about that, good luck.

Re: PenFed Pathfinder card

SUPERSQUID — Wed, 29 Dec 2021 21:05:59 GMT

Heres a recent one for pathfinder, bk, many inqs etc

https://ficoforums.myfico.com/t5/Credit-Card-Approvals/PenFed-Pathfinder-Approval/td-p/6464857

Re: PenFed Pathfinder card

coldfusion — Wed, 29 Dec 2021 21:58:58 GMT

I suspect the odds of approval would be tied to how PenFed viewed your lack of experience with a $5K+ credit limit. $5K is the minimum starting limit for their Pathfinder and Platinum Rewards cards.

Re: PenFed Pathfinder card

Anonymous — Wed, 29 Dec 2021 22:10:57 GMT

You could give it a try. I opened a savings account with them on dec 23, opened checking dec 24, i applied for there platinum Cc dec 25. Application went under review and got a email for identity verification and paysub. And got approved on dec 28 with 10k SL..

Re: PenFed Pathfinder card

randomguy123 — Wed, 29 Dec 2021 23:26:22 GMT

What are (were) your DPs if you don't mind me asking?

Re: PenFed Pathfinder card

randomguy123 — Thu, 30 Dec 2021 01:50:22 GMT

Well, I sent the app in. Initially got a "wait 24 hours" response and then a few minutes later a denial in my inbox for:

Length of time accounts have been established
Lack of recent installment loan information
Too many accounts with balances
Length of time revolving accounts have been established

Sad. Oh well, I guess I'm not flying with Precheck any time soon...

Re: PenFed Pathfinder card

SUPERSQUID — Thu, 30 Dec 2021 02:43:57 GMT

You cant get too depressed about it, you tried for their top tier card. your short credit profile probably is not good enough for a 5k pathfinder. Next time try for a lower tier card like power cash rewards and build a relationship with them. maybe grow your profile from 7 months to 1 year plus and try for PCR, good luck