topic Re: PENFED in Credit Cards

PENFED

Anonymous — Sat, 27 Oct 2007 03:26:10 GMT

I applied for PENFED and god declined for credit card. Should I get their secure card for now?

Re: PENFED

John060675 — Sat, 27 Oct 2007 03:27:17 GMT

What are your scores, and what is your situation? I was declined the first time, but was approved with them with a recon fax.

Re: PENFED

Anonymous — Sat, 27 Oct 2007 03:31:16 GMT

Thanks for your email to tell you the truth I dont even know why they declined me. My fico eq scores is 650 and I have no collections at all. 2 years ago I had late payments on verizon account. I have perfect history for last 2 years. Let me post the reasons

Thanks

Re: PENFED

Anonymous — Sat, 27 Oct 2007 03:35:33 GMT

Here are the resons

PAST OR PRESENT DELINQUENT ACCT(S)
AMOUNT OWED ON NEW ACCTS TOO HIGH
LENGTH OF TIME ACCTS ESTABLISHED

As i mentioned before I have no collection account. I just pulled my EQ Fico report. My uti is 19 percent. I dont think so that is high.

What should I do?

Re: PENFED

Anonymous — Sat, 27 Oct 2007 03:44:08 GMT

Stop apping-
To the Sleigh center - HRT needed.

Re: PENFED

John060675 — Sat, 27 Oct 2007 03:45:38 GMT

IMHO I would try to get your utilization down between 1 - 9% (if you can). I think this would boost up your score some, which could not hurt. I would then send a recon fax to them and request that they pull a new CR (since they will use the old one for 60 to 90 days). In the recon fax I would explain the late payments for Verizon and point out how you have been perfect on payments the last 2 years.

Also, if you have opened a lot of new accounts recently, then I would explain this. Creditors get a little nervous seeing so many new accounts.

Now let me say that if you cannot get the utilization down under 10% in the next month, then I still would send a recon fax to them. When I signed up to their Credit Union, I thought they were very easy to get a CC through. However, I have learned that they are not as easy to get as I thought, or they might have just tightened up their lending policies from what they used to be. I guess what I am saying is that you should not worry about the first denial. I was denied at first, and my first recon was denied. However, 30 days later I reapplied and they gave me a CC.

Hope it helps. Your score is fairly close to what they require. I think if you can just boost it a little by lowering your util. %, then your in. Good luck.

Re: PENFED

John060675 — Sat, 27 Oct 2007 03:46:40 GMT

Ashabbir1,

How many new accounts do you have? May I ask what they are?

Re: PENFED

Anonymous — Sat, 27 Oct 2007 03:50:41 GMT

Lol Tim. You are right I think main reason is I have opened too many accounts in short time

SHould I try NASA before I go to sleigh center ?

Re: PENFED

Anonymous — Sat, 27 Oct 2007 03:54:39 GMT

Thanks for your reply John. Within 2 weeks I got Target, Spiegels, walmart, dillards, macys, applied bank.First national and cortrust . These are the ones I got approved. I got declined for lowes, gemb credit card, spiegels credit card, eddie bauer credit card, I am still waiting for wamu and hooters. I applied for hooters on the 17 and I just called today and it is still pending

Re: PENFED

Anonymous — Sat, 27 Oct 2007 03:58:48 GMT

No, go directly to the Sleigh center, do not pass go, you will not pick up the WAMU for too many INQ's.

@Anonymous wrote:
Lol Tim. You are right I think main reason is I have opened too many accounts in short time
SHould I try NASA before I go to sleigh center ?

Message Edited by Timothy on 10-26-2007 08:58 PM

Re: PENFED

John060675 — Sat, 27 Oct 2007 03:58:40 GMT

Hmmmmm..............ok, I agree with Timothy now. Granted, you have the inquiry so you might as well send a recon. However, I doubt they will give you a CC with so many new accounts.

I have been app. happy, also. I am not near you, but I need to go to the Sleigh Center with you.

Re: PENFED

Anonymous — Sat, 27 Oct 2007 04:00:07 GMT

I know Tim, I should have listened to you a long time ago. I got denied for most of them because too many open accounts in short time. But I have heard that Nasa go by income. I do make good money. Do you think I should apply for Nasa and then go to sleigh center or just go right there.?

Re: PENFED

Anonymous — Sat, 27 Oct 2007 04:03:23 GMT

You are getting close too John.

A rule I use is "Do not age your account back to the previous full year"

@John060675 wrote:
Hmmmmm..............ok, I agree with Timothy now. Granted, you have the inquiry so you might as well send a recon. However, I doubt they will give you a CC with so many new accounts.
I have been app. happy, also. I am not near you, but I need to go to the Sleigh Center with you.

Re: PENFED

Anonymous — Sat, 27 Oct 2007 04:05:35 GMT

I make good money too.
Doesn't mean I NEED a NASA card.

Time to give it a break and let the dust settle.

@Anonymous wrote:
I know Tim, I should have listened to you a long time ago. I got denied for most of them because too many open accounts in short time. But I have heard that Nasa go by income. I do make good money. Do you think I should apply for Nasa and then go to sleigh center or just go right there.?

Re: PENFED

Anonymous — Sat, 27 Oct 2007 04:06:17 GMT

I have 8 inquirries on TU, 13 inquiries on EXP and 7 inquiries on EQ

Eq is my cleanest report with less inquiries but I guess penfed does not like even 6 inquiries. Now I have 7

Re: PENFED

John060675 — Sat, 27 Oct 2007 04:06:30 GMT

No, no Timothy. I am past close, I am already there!

I have never used drugs before (thank God), but I cannot imagine it being too much more addicting than applying for new CC's! I want a Discover CC sooooooooooooooooooooooo bad.

I cannot promise I will not apply when my scores go over 720 on my EX and TU, but I really hope I can sit back and make an educated decision. I would look so beautiful in my sock drawer!

Re: PENFED

Anonymous — Sat, 27 Oct 2007 04:09:24 GMT

Lol I forgot I forgot to metnion about CCCU. Tammy left me a message and I called her and left her a message. What do you guys think would she approve me?

thanks

Re: PENFED

Anonymous — Sat, 27 Oct 2007 04:14:27 GMT

She might-

They didn't re-pull on me.

Come to mention it- they haven't softed either....

@Anonymous wrote:
Lol I forgot I forgot to metnion about CCCU. Tammy left me a message and I called her and left her a message. What do you guys think would she approve me?
thanks

Re: PENFED

Anonymous — Sat, 27 Oct 2007 04:18:10 GMT

What would she ask for paystub and stuff?

Re: PENFED

Anonymous — Sat, 27 Oct 2007 04:21:39 GMT

That is all she asked from me-

I have been at the same address for 9 years.

@Anonymous wrote:
What would she ask for paystub and stuff?