topic Re: Penfed Insight in Credit Cards

Penfed Insight

Bone35 — Tue, 05 Apr 2016 17:33:34 GMT

Hi Folks!

Hoping some can help me with stats when approved for a Penfed product. Mostly looking for what your NextGen fico score was at the time of approval/denial, but any other info would be greatly appreciated!

DW has been a member for going on 6 months now. She has a Checking/Thrifty & Promise card currently. The promise card was only approved after a successful recon. (SL $500)

Her FICO 08 is 710, NextGen 630 at time of membership and currently 647 per Penfeds update 3/1/2016

BK 7 2007

Thanks in advance!

Re: Penfed Insight

Anonymous — Tue, 05 Apr 2016 18:58:36 GMT

@Bone35 wrote:
Hi Folks!

Hoping some can help me with stats when approved for a Penfed product. Mostly looking for what your NextGen fico score was at the time of approval/denial, but any other info would be greatly appreciated!

DW has been a member for going on 6 months now. She has a Checking/Thrifty & Promise card currently. The promise card was only approved after a successful recon. (SL $500)

Her FICO 08 is 710, NextGen 630 at time of membership and currently 647 per Penfeds update 3/1/2016

BK 7 2007

Thanks in advance!

I havent received a NextGen score from PenFed due to not having a credit card with them, however yesterday I was approved for a checking account and Thrifty. Last month I was approved for membership. I have apped for all of their lower tiered cards and was denied. It seemed that their system was trying to approve me based on a 14K limit according to the CSR and when she tried to retry the app with a lower limit I was still denied.

I do plan to send an email for recon to see what happens. My scores are in my signature.

Re: Penfed Insight

Bone35 — Tue, 05 Apr 2016 19:07:44 GMT

@Anonymous wrote:
@Bone35 wrote:
Hi Folks!

Hoping some can help me with stats when approved for a Penfed product. Mostly looking for what your NextGen fico score was at the time of approval/denial, but any other info would be greatly appreciated!

DW has been a member for going on 6 months now. She has a Checking/Thrifty & Promise card currently. The promise card was only approved after a successful recon. (SL $500)

Her FICO 08 is 710, NextGen 630 at time of membership and currently 647 per Penfeds update 3/1/2016

BK 7 2007

Thanks in advance!
I havent received a NextGen score from PenFed due to not having a credit card with them, however yesterday I was approved for a checking account and Thrifty. Last month I was approved for membership. I have apped for all of their lower tiered cards and was denied. It seemed that their system was trying to approve me based on a 14K limit according to the CSR and when she tried to retry the app with a lower limit I was still denied.

I do plan to send an email for recon to see what happens. My scores are in my signature.

Thanks for the response!

Wish you the best with your recon.

If i remember correctly....Every denial letter has your nextgen credit score on the bottom. You should check to see online in your message inbox.

Thanks again.

Re: Penfed Insight

ddemari — Tue, 05 Apr 2016 19:15:30 GMT

660 NextGen Fico almos a year ago when I was approved back to back for 2 penfed cards. I had a share membership for about 15 months before they gave me credit products.

I decided to pull the trigger on Promise Visa and was instantly approved. I was happy even though the limit was small.

Then I decided to pull the trigger on the travel amex back to back, and was instantly approved! my jaw dropped! NextGen Fico 660, monthly net income around 8,000.00

Lots of inquiries on EQ but no badddies.

Re: Penfed Insight

Anonymous — Tue, 05 Apr 2016 20:16:57 GMT

Question about your AE PenFed card: does that app ultimately get approval thru AE?

I recently took out a car loan and got a high CL on a Visa w them and would love to get back in w AE but they dropped me in 2008 along w my BK13.

I'm concerned if I, later down the road, app for the AE I will get auto declined same as I would if I were apping direct.

Thanks

ps. I'm not military but is there any way to translate/piggyback/optimize (you get the idea) my PFCU membership into a USAA relationship?

Re: Penfed Insight

Anonymous — Tue, 05 Apr 2016 20:42:01 GMT

I think they keep whatever score they pulled for membership or products for 90 days, you can apply for more stuff or increases within that time frame. Thats what I did.

Re: Penfed Insight

Anonymous — Tue, 05 Apr 2016 20:53:16 GMT

But does American Express have anything to do w the approval process or are they simply branded w PFCU and all underwriting is still done by PenFed?

Thanks

Re: Penfed Insight

CreditCuriosity — Tue, 05 Apr 2016 21:04:30 GMT

@Anonymous wrote:
But does American Express have anything to do w the approval process or are they simply branded w PFCU and all underwriting is still done by PenFed?

Thanks

Amex Aka Centurion bank has nothing to do with PenFed approval of their Amex card.. PenFed Amex just runs on the Amex payment network so it is completly up to PenFed whether they are to approve you or not. Centurion bank has nothing to do with approval/decline of this product

Re: Penfed Insight

Bone35 — Tue, 05 Apr 2016 22:46:39 GMT

Thx ddemari!

Re: Penfed Insight

Anonymous — Wed, 06 Apr 2016 05:03:54 GMT

@Bone35 wrote:
@Anonymous wrote:
@Bone35 wrote:
Hi Folks!

Hoping some can help me with stats when approved for a Penfed product. Mostly looking for what your NextGen fico score was at the time of approval/denial, but any other info would be greatly appreciated!

DW has been a member for going on 6 months now. She has a Checking/Thrifty & Promise card currently. The promise card was only approved after a successful recon. (SL $500)

Her FICO 08 is 710, NextGen 630 at time of membership and currently 647 per Penfeds update 3/1/2016

BK 7 2007

Thanks in advance!
I havent received a NextGen score from PenFed due to not having a credit card with them, however yesterday I was approved for a checking account and Thrifty. Last month I was approved for membership. I have apped for all of their lower tiered cards and was denied. It seemed that their system was trying to approve me based on a 14K limit according to the CSR and when she tried to retry the app with a lower limit I was still denied.

I do plan to send an email for recon to see what happens. My scores are in my signature.

Thanks for the response!

Wish you the best with your recon.

If i remember correctly....Every denial letter has your nextgen credit score on the bottom. You should check to see online in your message inbox.

Thanks again.

NextGen is 609 according to the letter in my messages.

Re: Penfed Insight

takeshi74 — Wed, 06 Apr 2016 12:49:42 GMT

@Bone35 wrote:
Hoping some can help me with stats when approved for a Penfed product. Mostly looking for what your NextGen fico score was at the time of approval/denial, but any other info would be greatly appreciated!

I'd suggest the Credit Pulls Database if you're looking for data points versus just relying on replies to this thread.

@Bone35 wrote:
The promise card was only approved after a successful recon. (SL $500)

Generally a low limit like that indicates that the creditor has serious concerns about one's credit profile. The BK probably plays a part in that.

Rather than relying on score alone, assess reports, idenitify issues and work on what can be worked on. See also the Rebuilding subforum.

Re: Penfed Insight

Anonymous — Wed, 06 Apr 2016 13:24:12 GMT

Excellent. Thank you sir.

Re: Penfed Insight

Bone35 — Wed, 06 Apr 2016 14:24:38 GMT

@takeshi74 wrote:
@Bone35 wrote:
Hoping some can help me with stats when approved for a Penfed product. Mostly looking for what your NextGen fico score was at the time of approval/denial, but any other info would be greatly appreciated!
I'd suggest the Credit Pulls Database if you're looking for data points versus just relying on replies to this thread.

@Bone35 wrote:
The promise card was only approved after a successful recon. (SL $500)
Generally a low limit like that indicates that the creditor has serious concerns about one's credit profile. The BK probably plays a part in that.

Rather than relying on score alone, assess reports, idenitify issues and work on what can be worked on. See also the Rebuilding subforum.

Thanks for your reply takeshi74..

I have checked CB and only a handful specificaly state NexGen scores.

Sorry if my post lead you to assume that I'm new to this.......

I might not post much but I have been around for a very long time

We are well into our rebuild journey....Coming down the home stretch! Bk is 9 years old...2 old medical collections left (1 falling off this year and the other next year) Scores are low 700's across the board.

AAoA 2.5 years.. Ut 4%

Amex Everyday 20k==BCP-6k-==Amex PRG-==CSP==5k==Arrival + 5k===Disco 10.5k==Venture 18k==VentureOne 13k===Quicksilver 15k=== plus many many more.

Total Available credit 150k+