topic Re: Penfed pathfinder - turned down! in Credit Card Applications

Penfed pathfinder - turned down!

FicoMike0 — Mon, 06 May 2024 18:09:48 GMT

I thawed my equifax, applied for pathfinder, they turned me down! Get this, penfed shows my ex fico9 is 850! What more do they want? Must be AoYA = 2 months.

Re: Penfed pathfinder - turned down!

chuckwood — Mon, 06 May 2024 18:30:33 GMT

@FicoMike0 wrote:
I thawed my equifax, applied for pathfinder, they turned me down! Get this, penfed shows my ex fico9 is 850! What more do they want? Must be AoYA = 2 months.

They seem to look at more than just score and there pre approval is a joke. I got turned down once for having too much available credit. The new account could have done it or a slew of other things. They have changed alot over the last few years. Wait for the letter and see. Sorry you were denied.

Re: Penfed pathfinder - turned down!

CorpCrMgr1 — Mon, 06 May 2024 18:49:12 GMT

@FicoMike0 your score is too good! No money to be made off of you except for swipes. 😁

Re: Penfed pathfinder - turned down!

zerofire — Mon, 06 May 2024 20:19:56 GMT

@CorpCrMgr1 wrote:
@FicoMike0 your score is too good! No money to be made off of you except for swipes. 😁

That is not a concern for PenFed on this card. The way I see it the PenFed Pathfinder is their travel card for customers that go places and represent. The person needs a solid credit score, decent experience with large credit lines(at least $5000 perhaps), and the financial backing to be stable around the world. When you also consider that PenFed is a military CU they will be ridgid on approval. My guess is that one of a few things happened. First you could have thawed the wrong report as I think they sometimes used Experian and not Equifax at all times. Second AAoA of 2mo is someone that just started out and has almost no history of paying off a large plane ticket and hotel. I would like to see some more history before considering especially at the Signature and above level. In the end I do not think PenFed believes you are ready for the responsibility of independently finding a path, just yet, with the Pathfinder.

Re: Penfed pathfinder - turned down!

FicoMike0 — Mon, 06 May 2024 20:47:55 GMT

I applied over the phone, she assured me eq would do it. Said I could submit recon in writing. I don't know about credit limit, I have wf at $8500 and just got amex cli from $9000 to $27000. I suspect it's the recent approval.

I wonder if navy would have the same issue?

Re: Penfed pathfinder - turned down!

FicoMike0 — Mon, 06 May 2024 21:18:51 GMT

Anyone know which cra navy pulls?

Re: Penfed pathfinder - turned down!

keekers — Mon, 06 May 2024 21:09:42 GMT

@FicoMike0 wrote:
Anyone know which cra baby pulls?

Baby pulls whatever CRA baby wants.

I assume you meant Navy...most of the time it's TU but also EX depending on your location.

Re: Penfed pathfinder - turned down!

keekers — Mon, 06 May 2024 21:10:08 GMT

@FicoMike0 see this: https://ficoforums.myfico.com/t5/General-Credit-Topics/Which-Report-Will-They-Pull-Part-2/td-p/6379773/page/19

Re: Penfed pathfinder - turned down!

FicoMike0 — Mon, 06 May 2024 21:23:17 GMT

Thanks.

If they only want world travelers, I should have included my old passport. It had a fancy full page visa from when I worked in italy. Had a NATO cosmic security clearance. Never learned any interesting secrets.

Re: Penfed pathfinder - turned down!

cashorcharge — Mon, 06 May 2024 21:37:26 GMT

@FicoMike0 wrote:
I thawed my equifax, applied for pathfinder, they turned me down! Get this, penfed shows my ex fico9 is 850! What more do they want? Must be AoYA = 2 months.

I would assume you don't have any other CC's with PenFed? I ask because they do have a CC lending limit of $50K (unless you're grandfathered in already with higher than $50K when they established that about 4 years ago

Re: Penfed pathfinder - turned down!

FicoMike0 — Mon, 06 May 2024 21:58:10 GMT

No other pen cards. Savings, ssl and brand new checking.

Re: Penfed pathfinder - turned down!

user979797 — Mon, 06 May 2024 21:58:58 GMT

Yeah thats why I didn't list PenFed as a choice on that list you asked for; even though I knew you wanted to apply with them. They can be a little funky with high scores for some strange reason it's really ridiculous seriously. They just have a strange way of doing things sometimes I guess but other people have great success. Penfed isn't as prone to give a high SL as say USAA or Navy.

I believe Navy will be a super easy approval for you but that is of course just my personal guess and opinion and i could totally be wrong. Good luck.

Re: Penfed pathfinder - turned down!

FicoMike0 — Mon, 06 May 2024 22:00:19 GMT

The declined app says $15000. Maybe I should submit a recon request asking for $10000?

Re: Penfed pathfinder - turned down!

FicoMike0 — Mon, 06 May 2024 22:04:21 GMT

Thanks user979797 . I'll probably go navy.

Re: Penfed pathfinder - turned down!

coldfusion — Tue, 07 May 2024 10:32:53 GMT

@cashorcharge wrote:
@FicoMike0 wrote:
I thawed my equifax, applied for pathfinder, they turned me down! Get this, penfed shows my ex fico9 is 850! What more do they want? Must be AoYA = 2 months.
I would assume you don't have any other CC's with PenFed? I ask because they do have a CC lending limit of $50K (unless you're grandfathered in already with higher than $50K when they established that about 4 years ago

Their $50K maximum TCL has been in place for a long time, what changed a few years ago was that moving forward the max CL on the Gold card was capped at $15K and for all other cards $25K. Members who held a card with a > $15K/ $25K CL kept the CL but couldn't grow it although after being pressured PenFed ended up honoring at least some of the active but not yet accepted SP CLI offers they had already extended for that quarter whose end result meant a > $25K CL.