topic Re: Who does Penfed report to? in Credit Cards

Who does Penfed report to?

y0rascal — Fri, 06 Mar 2009 14:01:49 GMT

do they only report to EQ like most CU's? any report to all 3 CRA's...?

Re: Who does Penfed report to?

recoverychick — Fri, 06 Mar 2009 17:17:43 GMT

All 3.

Re: Who does Penfed report to?

haulingthescoreup — Fri, 06 Mar 2009 19:31:05 GMT

All the CU's that I know about report to all 3. They just tend to pull from EQ.

I'm sure that there might be some small local ones who don't, though.

Re: Who does Penfed report to?

Anonymous — Fri, 06 Mar 2009 21:55:17 GMT

Yep, they report my piddily credit line to all three. Hehe.

Re: Who does Penfed report to?

Anonymous — Fri, 06 Mar 2009 22:45:35 GMT

@haulingthescoreup wrote:
All the CU's that I know about report to all 3. They just tend to pull from EQ.

I'm sure that there might be some small local ones who don't, though.

Yes they report to all 3 but pulled from EQ for me and they were so nice and resposible, when I applied for a few other things and they needed to "repull" she said "I am going to pull the same report as before since within the 60 days of our inquiry it won't hurt your score again" I was like, wow, so considerate actually. Plus my EQ is my best one, so I was in hog heaven. They asked me how much credit I want, I said 7500 should be enough, she said sir with your score you can get up to 25k and I said, how about 10k, I don't want to overdo it, maybe in time. She approved me instantly and viola, it was their best card too, the platinum visa cash back deal. I was happy.

Re: Who does Penfed report to?

haulingthescoreup — Fri, 06 Mar 2009 22:53:02 GMT

I might not be conservative in every part of my life (although I am in a lot of ways), but I love conservative lenders. Boring, picky, cautious --just what the doctor ordered for financial health. PenFed, USAA, US Bank --gotta love 'em!

'Grats on the PenFed card! I was even more chicken than you --I asked for $5K, and my voice was shaking so much that I had to repeat it several times! Up to $20+K now and happy as a clam.

Re: Who does Penfed report to?

Anonymous — Fri, 06 Mar 2009 23:12:36 GMT

@haulingthescoreup wrote:
I might not be conservative in every part of my life (although I am in a lot of ways), but I love conservative lenders. Boring, picky, cautious --just what the doctor ordered for financial health. PenFed, USAA, US Bank --gotta love 'em!

'Grats on the PenFed card! I was even more chicken than you --I asked for $5K, and my voice was shaking so much that I had to repeat it several times! Up to $20+K now and happy as a clam.

Well there is nothing wrong with being a responsible lender, avoids problems down the line. So if that's boring, I'll take it I wasn't really chicken, I have big credit and can handle alot with no problems, I just didn't want a suddenly super big credit line showing up on my reports and sending everyone into a frenzy, figured this way I start respectibly high enough to pretty much stop using the rest of the cards, and let it grow gradually and everyone is happy.You think I should have taken the 25k right off the bat?

Re: Who does Penfed report to?

haulingthescoreup — Fri, 06 Mar 2009 23:37:11 GMT

I don't know that you should or shouldn't have. I think it's more an issue of your comfort level.

I do know that I have never seen convincing evidence of AA resulting from "too much" credit.

I realize that many of the off-with-their-heads banks are using this as an excuse to do a CLD, but I'm skeptical.

After lying low for a long time, and apping PenFed first, I had no idea at all if any lender would even speak to me. Got over that pretty quickly, though, lol (6 new accounts in about 8 hours.)

OK, one maybe: before the huh-huh hit the fan in the financial world, Barclays had what seemed to be erratic patterns of granting CL's. After reading enough posts, I got the impression that those with relatively low total CL (and sufficient scores and good history, of course) tended to get higher initial CL's, while those who already had plenty of credit got sort of token limits.

At any rate, this is what I dreamed up to soothe my bruised ego.

Re: Who does Penfed report to?

Anonymous — Sat, 07 Mar 2009 03:56:55 GMT

@haulingthescoreup wrote:
I don't know that you should or shouldn't have. I think it's more an issue of your comfort level.

I do know that I have never seen convincing evidence of AA resulting from "too much" credit.

I realize that many of the off-with-their-heads banks are using this as an excuse to do a CLD, but I'm skeptical.

After lying low for a long time, and apping PenFed first, I had no idea at all if any lender would even speak to me. Got over that pretty quickly, though, lol (6 new accounts in about 8 hours.)

OK, one maybe: before the huh-huh hit the fan in the financial world, Barclays had what seemed to be erratic patterns of granting CL's. After reading enough posts, I got the impression that those with relatively low total CL (and sufficient scores and good history, of course) tended to get higher initial CL's, while those who already had plenty of credit got sort of token limits.

At any rate, this is what I dreamed up to soothe my bruised ego.

I am sorry, didn't mean to get you mad I wasn't sure about the AA and I guess figured I play it on the safer side since I did app with PenFed during the financial mess so I wasn't sure it was going to be seen the right way. I am comfortable with just about anything, I handle changes and responsiblity well, but I was just concerned about the AA, maybe I should have taken it now and dealt with the fall out later, oh well, 6 months from now I can ask for the increase. She told me in 6 months if I want to take them up on it, I can ask. Otherwise they will increase it in 5k intervals automatically, I was like ok I'll take that. Oh well, why bruised ego? what happened? I hope it wasn't something I said.

Re: Who does Penfed report to?

haulingthescoreup — Sat, 07 Mar 2009 04:22:31 GMT

Guardian wrote:

I am sorry, didn't mean to get you mad I wasn't sure about the AA and I guess figured I play it on the safer side since I did app with PenFed during the financial mess so I wasn't sure it was going to be seen the right way. I am comfortable with just about anything, I handle changes and responsiblity well, but I was just concerned about the AA, maybe I should have taken it now and dealt with the fall out later, oh well, 6 months from now I can ask for the increase. She told me in 6 months if I want to take them up on it, I can ask. Otherwise they will increase it in 5k intervals automatically, I was like ok I'll take that. Oh well, why bruised ego? what happened? I hope it wasn't something I said.

*looks around blinking* --no, any bruised ego was from Barclays giving me $500 on the same card that gave Mrs. MV $15k right out of the gate!

I very much took it as that's what I get for an unplanned app.

And whoa, sorry if it looked like I was mad, because I wasn't at all. I'm a firm believer in people researching the fire out of stuff before they app, and then going with their guts. And from what you wrote, that is exactly what you did.

I have no interest in sitting in judgment over what members do. I just ask that they bring their brains to the game; research the fire out of things; sit back and ponder for a while; and then go for it. If someone discovers (after going through all this) that they have a deep psychic and financial need for the Hello Kitty card, well then hey, best of luck to you!

(I just happen to hate pink.)

Re: Who does Penfed report to?

TangMeister — Sat, 07 Mar 2009 04:47:46 GMT

Guardian, big congrats on the PenFed approval. I would've gone for the $25k if they offered it (actually I did a few moons ago). I like keeping my utilization as low as possible on individual cards as well as overall, so give me every last CL penny and I'll smile and say than you very much. So, at your next CLI...go for the gold. By the way, it's been reported by others that, as of November 2008ish, PenFed now requires 12 months since opening date, before asking for a CLI. I actually haven't checked personally, but others have reported it. It's interesting the CSR told you 6 months.

PenFed reports to all three. The only large credit union I've heard that doesn't is Alliant CU. Maybe someone on here can confirm this? They supposedly don't report to TU. I'll know in the next month, since I was approved a couple weeks back.

Re: Who does Penfed report to?

wmarat — Sat, 07 Mar 2009 05:41:57 GMT

To all 3 or 4. I am too lazy to find my Innovis report, but I am almost sure that it reported to Innovis too.

Re: Who does Penfed report to?

Anonymous — Sat, 07 Mar 2009 06:52:51 GMT

@haulingthescoreup wrote:
If someone discovers (after going through all this) that they have a deep psychic and financial need for the Hello Kitty card, well then hey, best of luck to you!

Bwah ha ha haha! Best quote of the week!

Re: Who does Penfed report to?

Anonymous — Sat, 07 Mar 2009 08:03:28 GMT

@TangMeister wrote:
Guardian, big congrats on the PenFed approval. I would've gone for the $25k if they offered it (actually I did a few moons ago). I like keeping my utilization as low as possible on individual cards as well as overall, so give me every last CL penny and I'll smile and say than you very much. So, at your next CLI...go for the gold. By the way, it's been reported by others that, as of November 2008ish, PenFed now requires 12 months since opening date, before asking for a CLI. I actually haven't checked personally, but others have reported it. It's interesting the CSR told you 6 months.

PenFed reports to all three. The only large credit union I've heard that doesn't is Alliant CU. Maybe someone on here can confirm this? They supposedly don't report to TU. I'll know in the next month, since I was approved a couple weeks back.

Thank you, appreciate it. Yeah in hindsight, I probably should have, but live and learn right Yeah I am new to them so I have no idea but going from what she said about the 6 months, maybe she coded me that way because of the score or the availability of the initial offer, don't know but either way I am happy for now. Next change I get, I will take the higher limit, for sure. Thanks.

Re: Who does Penfed report to?

y0rascal — Sat, 07 Mar 2009 23:30:03 GMT

when apping for penfed credit card rewards, is it better to call and apply via phone or over the computer???

Re: Who does Penfed report to?

TangMeister — Sun, 08 Mar 2009 05:06:00 GMT

@y0rascal wrote:
when apping for penfed credit card rewards, is it better to call and apply via phone or over the computer???

I don't think it makes much difference, to be honest. If you have great credit, you can app online and have the possibility of being instantly approved for whatever you ask for (I know of instants up to $20k+), just as easily as being instantly approved over the phone. I app'd online myself. If it takes more time, they'll tell you if they need more info from you (pay stubs, etc...) via your online account login page, where you can check the status of your app.

Re: Who does Penfed report to?

Anonymous — Sun, 08 Mar 2009 08:29:56 GMT

@y0rascal wrote:
when apping for penfed credit card rewards, is it better to call and apply via phone or over the computer???

Don't know. I applied online for the account but when I was asked to call and verify some information based on my own CRA settings, I called and after that she offered and I said sure and wen't from there. So, not sure what to tell you there, mine was in person but not by choice.

Re: Who does Penfed report to?

y0rascal — Mon, 09 Mar 2009 03:50:07 GMT

thanks for the heads up i guess i will app online in the next few coming weeks waiting to have all my cards update at 0 balances except for my boa with a balance of 4,800 from a previous balance of 6,800...