topic Re: PenFed prequal? in Credit Cards

PenFed prequal?

Anonymous — Fri, 06 Oct 2017 00:17:59 GMT

Does anyone know if PenFed has a prequalify website for a CC? I googled for one, and only saw for mortgages.

Re: PenFed prequal?

kilj0y — Fri, 06 Oct 2017 00:37:34 GMT

No they only do quarterly prequals for members who already have credit products, and those are targeted so not everyone gets them.

Re: PenFed prequal?

Anonymous — Fri, 06 Oct 2017 00:44:56 GMT

@kilj0y wrote:
No they only do quarterly prequals for members who already have credit products, and those are targeted so not everyone gets them.

☝️What they said.

Re: PenFed prequal?

Anonymous — Fri, 06 Oct 2017 00:47:56 GMT

@Anonymous wrote:
@kilj0y wrote:
No they only do quarterly prequals for members who already have credit products, and those are targeted so not everyone gets them.
☝️What they said.

Re: PenFed prequal?

Anonymous — Fri, 06 Oct 2017 01:06:22 GMT

Lol.. Thanks guys I hate applying without seeing a prequal for reassurance.

Re: PenFed prequal?

Anonymous — Fri, 06 Oct 2017 01:14:42 GMT

work on your credit profile so you don't have to? maybe?

Re: PenFed prequal?

Anonymous — Fri, 06 Oct 2017 01:21:11 GMT

@Anonymous wrote:
Lol.. Thanks guys I hate applying without seeing a prequal for reassurance.

You shouldn't let the non existence of a prequalification for a credit card from any creditor deter you from applying. Prequalifiations are highly overrated and they certainly dont guarantee an approval. I have in excess of 30 credit cards and with the exception of the Chase Freedom, none of my applications were based on preapprovals. In fact, for quite a few of them, I checked and absolutely no prequals showed. Research whatever card that you're applying for, see what type of credit is needed and if you meet them, apply with confidence. This forum is a great resource and in most cases we can predict your chances of an approval far better than any prequalified site. Of course, there are a few prequalified sites like CapitalOne's that are useful, but people are routinely declined by other creditors after being 'prequalified'. If you are a member of PenFed, give us some credit background and your FICO 8 EQ (and FICO 9 if you know it) and we can give you a very good idea of your chances of an approval.

Re: PenFed prequal?

Anonymous — Fri, 06 Oct 2017 01:22:15 GMT

Thanks for your words of pure wisdom incubus lol. Currently at it. 🤘

Re: PenFed prequal?

K-in-Boston — Fri, 06 Oct 2017 02:11:32 GMT

In agreement with everyone else. To put Irish's comments into a visual example, look at my signature. I only had preapprovals for BOA BankAmericard, BOA Cash Rewards, Citi Diamond Preferred, Chase Sapphire Preferred, Chase Slate, and the NASA FCU card. Everything else was a cold app. Know your profile, use the resources of people here and the credit pulls database, and you should be good almost every time. And sometimes a gamble can be worth it. The only "sure thing" for me that didn't work out was a Capital One Venture app early this year - for whatever reason CapOne has just never really liked me.

Edit: Actually I lied. LOL Amex PRG was a preapproved Gold card and the "Blue from American Express" was also a preapproval. But those were 15 years ago, so they don't count.

Re: PenFed prequal?

UpperNwGuy — Fri, 06 Oct 2017 02:46:39 GMT

I have never had a prequalification in hand before applying for a credit card. You can usually tell from your own credit score and financial situation how your application is likely to be received. The people on this forum can help.