topic Re: PenFed in Credit Cards

PenFed

PinkPanther3719 — Sat, 30 Jul 2016 17:03:41 GMT

So I've been a member of Penfed for over 3 years now. I only applied for a card when I first got my membership (and was denied). Recently, they've been sending me invitations to apply for the Platinum Rewards Visa. It has a range of apr, but they've never sent me these in the 3 years I've had them. Should I apply or continue to wait. My credit scores are about 680.

Re: PenFed

bourgogne — Sat, 30 Jul 2016 17:17:19 GMT

@PinkPanther3719 wrote:
So I've been a member of Penfed for over 3 years now. I only applied for a card when I first got my membership (and was denied). Recently, they've been sending me invitations to apply for the Platinum Rewards Visa. It has a range of apr, but they've never sent me these in the 3 years I've had them. Should I apply or continue to wait. My credit scores are about 680.

Hi, where are you getting 680 from? I see EQ=619 and that is what they pull. imo you are wasting a hard pull for nothing, there is little chance that you will get a card or one that will amount to much. what are holding your scored down?

Re: PenFed

PinkPanther3719 — Sat, 30 Jul 2016 17:32:37 GMT

@bourgogne wrote:
@PinkPanther3719 wrote:
So I've been a member of Penfed for over 3 years now. I only applied for a card when I first got my membership (and was denied). Recently, they've been sending me invitations to apply for the Platinum Rewards Visa. It has a range of apr, but they've never sent me these in the 3 years I've had them. Should I apply or continue to wait. My credit scores are about 680.
Hi, where are you getting 680 from? I see EQ=619 and that is what they pull. imo you are wasting a hard pull for nothing, there is little chance that you will get a card or one that will amount to much. what are holding your scored down?

If you notice, that's from around May. They've gone up. I just haven't updated my signature. And I had an authorized user that I was trying to help, max out the card and is slowly paying it down.

Re: PenFed

bourgogne — Sat, 30 Jul 2016 17:35:26 GMT

@PinkPanther3719 wrote:
@bourgogne wrote:
@PinkPanther3719 wrote:
So I've been a member of Penfed for over 3 years now. I only applied for a card when I first got my membership (and was denied). Recently, they've been sending me invitations to apply for the Platinum Rewards Visa. It has a range of apr, but they've never sent me these in the 3 years I've had them. Should I apply or continue to wait. My credit scores are about 680.
Hi, where are you getting 680 from? I see EQ=619 and that is what they pull. imo you are wasting a hard pull for nothing, there is little chance that you will get a card or one that will amount to much. what are holding your scored down?
If you notice, that's from around May. They've gone up. I just haven't updated my signature. And I had an authorized user that I was trying to help, max out the card and is slowly paying it down.

your EQ went from 619 to 680 in 2-3 months? if so then you don't need this board, you have the magic touch lol. it's all in the details my friend, if your EQ is north of 700 then you have a good shot with penfed - if not, well then not so much. post what happens and good luck!

Re: PenFed

Anonymous — Sat, 30 Jul 2016 17:39:28 GMT

Good luck!

Re: PenFed

PinkPanther3719 — Sat, 30 Jul 2016 17:44:20 GMT

@bourgogne wrote:
@PinkPanther3719 wrote:
@bourgogne wrote:
@PinkPanther3719 wrote:
So I've been a member of Penfed for over 3 years now. I only applied for a card when I first got my membership (and was denied). Recently, they've been sending me invitations to apply for the Platinum Rewards Visa. It has a range of apr, but they've never sent me these in the 3 years I've had them. Should I apply or continue to wait. My credit scores are about 680.
Hi, where are you getting 680 from? I see EQ=619 and that is what they pull. imo you are wasting a hard pull for nothing, there is little chance that you will get a card or one that will amount to much. what are holding your scored down?
If you notice, that's from around May. They've gone up. I just haven't updated my signature. And I had an authorized user that I was trying to help, max out the card and is slowly paying it down.
your EQ went from 619 to 680 in 2-3 months? if so then you don't need this board, you have the magic touch lol. it's all in the details my friend, if your EQ is north of 700 then you have a good shot with penfed - if not, well then not so much. post what happens and good luck!

Not really. I just used my taxes to pay off almost all my credit card debts. Then I received limit increases. So my utilization is very low (besides the maxed card, which will have effect next month), perfect payment history, my aaoa is almost 4 years, and the only new account I have is my car loan. The rest are about 1 year old and no new inquires except one for my car.

Re: PenFed

AverageJoesCredit — Sat, 30 Jul 2016 17:53:08 GMT

Good luck OP If you decide to try. If its something you want and can use, sometimes the hard pull is worth it if not only to see where you stand im a 3 month member myself but from what i understand their score is different from a fico8 score. In the end, if you apply and are denied, you can always recon and plead your case. It seems many on this board have had some success with reconning a denial. Penfed seems like a great cu thats willing to hear your problems and help solve them if they can. Best of luck again

Re: PenFed

bourgogne — Sat, 30 Jul 2016 17:53:26 GMT

@PinkPanther3719 wrote:
@bourgogne wrote:
@PinkPanther3719 wrote:
@bourgogne wrote:
@PinkPanther3719 wrote:
So I've been a member of Penfed for over 3 years now. I only applied for a card when I first got my membership (and was denied). Recently, they've been sending me invitations to apply for the Platinum Rewards Visa. It has a range of apr, but they've never sent me these in the 3 years I've had them. Should I apply or continue to wait. My credit scores are about 680.
Hi, where are you getting 680 from? I see EQ=619 and that is what they pull. imo you are wasting a hard pull for nothing, there is little chance that you will get a card or one that will amount to much. what are holding your scored down?
If you notice, that's from around May. They've gone up. I just haven't updated my signature. And I had an authorized user that I was trying to help, max out the card and is slowly paying it down.
your EQ went from 619 to 680 in 2-3 months? if so then you don't need this board, you have the magic touch lol. it's all in the details my friend, if your EQ is north of 700 then you have a good shot with penfed - if not, well then not so much. post what happens and good luck!
Not really. I just used my taxes to pay off almost all my credit card debts. Then I received limit increases. So my utilization is very low (besides the maxed card, which will have effect next month), perfect payment history, my aaoa is almost 4 years, and the only new account I have is my car loan. The rest are about 1 year old and no new inquires except one for my car.

good for you, that is really great. if you have no bads then your nexgen which is what penfed uses should be on par or higher than your EQ - when you CCT your scores what is your EQ today? you look like you are in pretty good shape to get something from them but some folks bag insame SLs - that is what you want so wait if you have to

Re: PenFed

baller4life — Sat, 30 Jul 2016 17:53:57 GMT

Well here's 231 pgs of data for you. Approvals from 650 all they way to 800+. Penfed has certainly loosened their UW criteria from 3 years ago. That is for certain. Good luck in whatever you decide!

http://ficoforums.myfico.com/t5/Credit-Card-Applications/Pentagon-Federal-Credit-Union-Data-Share/m-p/4591561#U4591561

Re: PenFed

Anonymous — Sat, 30 Jul 2016 20:47:31 GMT

@PinkPanther3719 wrote:
So I've been a member of Penfed for over 3 years now. I only applied for a card when I first got my membership (and was denied). Recently, they've been sending me invitations to apply for the Platinum Rewards Visa. It has a range of apr, but they've never sent me these in the 3 years I've had them. Should I apply or continue to wait. My credit scores are about 680.

Personally, if it was me I would go for it. Your score seems in shooting distance. My score was not much higher than yours. I was approved. I did not have a 3 year history with them like you! I think you have an amazing chance. Please read the thread that Baller4Life posted. You will read my datapoints somewhere around the 110 page mark. Many success stories and if denied call them straight away and ask for a recon.

Please if you go for it ... let me know.

PS they are open on Saturday and Sunday's !

I have a good feeling!

Re: PenFed

Grafton88 — Sat, 30 Jul 2016 22:08:08 GMT

@PinkPanther3719 wrote:
So I've been a member of Penfed for over 3 years now. I only applied for a card when I first got my membership (and was denied). Recently, they've been sending me invitations to apply for the Platinum Rewards Visa. It has a range of apr, but they've never sent me these in the 3 years I've had them. Should I apply or continue to wait. My credit scores are about 680.

What are your goals PinkPanther? A new car? A house?

I am looking to apply for PenFed soon. My goals are to buy a house next year. I know it is a HP to join but then you can apply for 3 items within 90 days with that same pull. I want at least the right card and a line of credit. I would look at baller4life's great PenFed thread. Look to see what others have received that have similar scores. Look at PenFed's offerings to match what you want. Then you can make a better decision as to whether this is the right time to app.

Re: PenFed

ddemari — Sun, 31 Jul 2016 02:55:23 GMT

Id go for it, I had a share account with them for almost 2 years before they gave me cards and plocs with a 660s score.

Re: PenFed

Guyatthebeach — Sun, 31 Jul 2016 03:46:16 GMT

@PinkPanther3719 wrote:
So I've been a member of Penfed for over 3 years now. I only applied for a card when I first got my membership (and was denied). Recently, they've been sending me invitations to apply for the Platinum Rewards Visa. It has a range of apr, but they've never sent me these in the 3 years I've had them. Should I apply or continue to wait. My credit scores are about 680.

I would personally apply for it. I got approved with lots of new accounts and inquiries.

If you get denied, do a reconn. It will only cost you few moments of time/

Guyaathebeach

Re: PenFed

gingerflower — Sun, 31 Jul 2016 03:50:54 GMT

@Pinkphanter3719 I would definitely apply especially with the invitation you received. Good luck! If you get denied send a secured email message and recon.