topic I app'd to PenFed and..... in Credit Cards

I app'd to PenFed and.....

y0rascal — Wed, 25 Mar 2009 21:23:54 GMT

Well, my research here helped, i signed up to EQ to keep an eye on my reports aside with scorewatch. I disputed my balances to have them updated. I disputed an inquiry from HSBC which was removed. I got my score to go up from 718 to 739. I brought my ratio to 16%. So i decided to take the dive before my household bank reports the new balance from medical bills.

First let me say this, this was one of the most stressful apps i have done, worrying about if i am going to get it or not.

So i joined and then applied for the platnium cash rewards and i was surprised i requested $7,500.00 and was APPROVED. I then was pre approve for a new car loan for $35k but i asked for refinance my $13,500 loan, was approved for 3.99%. Then here it goes i get cocky call in and ask for more of a limit i ask for $10,000. The rep then ask for my income verification and then i get the pending signal, oh man. Today i got the good news and i got approved for 10k on my platnium cash rewards not only am i happy but this is my highest limit card, citi being second with 9.6k.

So i took the plung and was lucky i got approved for everything i needed/asked for... thumbs up to Penfed, but if i would of gotten denied i was looking at Alliant or NASA.... thanks for all of the forum help....

Re: I app'd to PenFed and.....

Red1Blue — Wed, 25 Mar 2009 21:25:11 GMT

Congrats. Keep the account in good standing and they are very generous with CLI's.

Re: I app'd to PenFed and.....

Anonymous — Wed, 25 Mar 2009 22:00:25 GMT

Congrats! I hope I can be in your shoes in two years. I applied for a PenFed Plat. Cash Rewards Visa in January but got denied for "pyramiding debt".

Re: I app'd to PenFed and.....

score_building — Wed, 25 Mar 2009 22:06:11 GMT

wow, that is great! super congrats!!

Re: I app'd to PenFed and.....

Anonymous — Wed, 25 Mar 2009 22:10:44 GMT

Hey, I can empathize the experience. I apped PenFed over the yesterday morning and I STEPPED UP on the app and asked for $25k on the Visa from get go. My app is "pending." I'm not sure when to expect a response for additional info, etc.

I'll post my results.

Re: I app'd to PenFed and.....

Anonymous — Wed, 25 Mar 2009 23:28:56 GMT

@Anonymous wrote:
Hey, I can empathize the experience. I apped PenFed over the yesterday morning and I STEPPED UP on the app and asked for $25k on the Visa from get go. My app is "pending." I'm not sure when to expect a response for additional info, etc.

I'll post my results.

Yeah still waiting to see how that goes for you. Mine was approved instantly but it wasn't until a week later that they asked for the income verification. Good luck to you.

Re: I app'd to PenFed and.....

Anonymous — Thu, 26 Mar 2009 00:04:33 GMT

Well, I just got a "comment" that my EQ was locked. So had to fix that and let PenFed know...they said decision in 1 to 3 days.

Re: I app'd to PenFed and.....

Anonymous — Thu, 26 Mar 2009 00:15:09 GMT

We'll see, *crossing fingers*

Re: I app'd to PenFed and.....

Anonymous — Sat, 28 Mar 2009 21:19:46 GMT

Hey, anybody know if they will let you refi a boat rather than auto? I referred my brother to PenFed and he got the Instant Approval for $7.5k Visa and $35k 3.99% auto, but he doesn't want a new car, he would be interested in refinancing his boat that is currently at 11%

Re: I app'd to PenFed and.....

y0rascal — Sat, 28 Mar 2009 21:37:17 GMT

i got the samething too, i dont see why not they should refinance the boat have him call and confirm...

Re: I app'd to PenFed and.....

Anonymous — Sat, 28 Mar 2009 21:42:00 GMT

Yeah, your post got me to thinking....he was going to decline it and I convinced him to at least check the "CONSIDER IT" so that he would potentially be able to explore options for a refi or something. No sense in throwing away an opportunity to kill to apps with one pull

Had I thought about the instant approval offering an auto loan, I may have asked for the lower CL to begin with so that I didn't have to wait for LO review and verification. Alliant gave me an instant Auto offer, but it was 4.69%....not bad, but 3.99 is better

Message Edited by txjohn on 03-28-2009 02:42 PM

Re: I app'd to PenFed and.....

y0rascal — Sat, 28 Mar 2009 21:43:13 GMT

yea can't beat the 3.99 for used that is incredible... for new you can still get 0% with the dealer credit unions...

Re: I app'd to PenFed and.....

Anonymous — Sun, 29 Mar 2009 00:28:24 GMT

@Anonymous wrote:
Hey, anybody know if they will let you refi a boat rather than auto? I referred my brother to PenFed and he got the Instant Approval for $7.5k Visa and $35k 3.99% auto, but he doesn't want a new car, he would be interested in refinancing his boat that is currently at 11%

You can ask them, there is no reason not to do it for them, maybe rates and terms are different but should be failry similar.