topic Re: Penfed offers :just a sanity check in Credit Cards

Penfed offers :just a sanity check

Anonymous — Wed, 16 Sep 2009 03:20:02 GMT

They previously denied me for the rewards card (i wanted to BT 10k) going on 45days ago now. I was approved for the $500 LOC.. I was wondering if I'll still get offers..will they auto soft me after a certain time period? Score has jumped probably 20-30 points since that decline but still not in what I would consider penfed rewards card range.

* wanted to add* that the pull they used for the denial (per myfico monitoring and equifax report was 05/27/09)

Message Edited by lphelps on 09-15-2009 11:20 PM

Re: Penfed offers :just a sanity check

smallfry — Wed, 16 Sep 2009 04:03:46 GMT

I have had the card 30 months never got an offer but that is probably due to my BK. They soft my Equifax every 3 months religiously.

Re: Penfed offers :just a sanity check

Anonymous — Wed, 16 Sep 2009 06:11:11 GMT

Took me over a year to get an unsecured offer. I got secured (installment) offers sooner. I think you have to be both at the right time for your account and at the right time in their cycle and then qualify to get offers.

Re: Penfed offers :just a sanity check

Anonymous — Wed, 16 Sep 2009 12:26:53 GMT

Not to thread highjack but I was wondering how you knew if PenFed offered you a product? On the right side of my screen I have promotion offers but nothing beyond that. Thanks in advance!

Re: Penfed offers :just a sanity check

haulingthescoreup — Wed, 16 Sep 2009 12:32:38 GMT

One day you'll log in, and there will be a long list of offers over on the right.

Sorry, that's kind of vague, isn't it?

Check this thread to see what they look like. It's from my last set of offers in April. There's a ton of white space on the first post above the screen print that I never could get rid of, but there are shots of the actual offers and of the alert. hth

Re: Penfed offers :just a sanity check

Anonymous — Wed, 16 Sep 2009 13:07:35 GMT

@smallfry wrote:
I have had the card 30 months never got an offer but that is probably due to my BK. They soft my Equifax every 3 months religiously.

Hmm they haven't don't an inq since may and that was hard. It doesn't make sense that they'd only extend offers to people with CC's (or does it?)

Right now I've got a settlement that is dropping off in 3 more months after that I'll have 1 30 from 2006 and 1 from 2005 (same card. no relationship with cap one since to even try and GW. thats it.. maybe then I should just straight up reapply for the card.. although I'd have more confidence if they'd offer something..

Re: Penfed offers :just a sanity check

Jazzzy — Wed, 16 Sep 2009 13:38:13 GMT

@Anonymous wrote:
Not to thread highjack but I was wondering how you knew if PenFed offered you a product? On the right side of my screen I have promotion offers but nothing beyond that. Thanks in advance!

I'm new at PenFed myself. I'll be curious to see what pops up down the line. This morning there was a new link for me. It is cell phone protection if I pay my cell phone bill through PenFed. The coverage is free.

We always have insurance on our phones, but you can't collect after the phone goes in the lake or river. (Ever raise a 16 y/o who loves to swim in the Missouri? It happens.)

Who knows how good the coverage is, but I can easily pay my bill through them. So, that was a nice perk.

Message Edited by LynetteM on 09-16-2009 06:38 AM

Re: Penfed offers :just a sanity check

Anonymous — Wed, 16 Sep 2009 13:52:03 GMT

Thanks haulingthescoreup! I checked out your link and I haven't received anything that specifically said "offer."

Re: Penfed offers :just a sanity check

Anonymous — Wed, 16 Sep 2009 13:52:59 GMT

lphelphs, I think that is a very good question. Are these offers only coming up for people who have a credit card with them?

Re: Penfed offers :just a sanity check

Anonymous — Wed, 16 Sep 2009 13:55:43 GMT

LynetteM, I agree that it is a nice perk to have the cell phone protection plan. I'm curious if you have a credit card with them. I have been a member of Pen Fed for about 2 years now and I have never received any "offers" for any of their products. Granted, I rarely pay attention to the advertisement on the right side of my screen. I just have a savings account with them that I put x amount in every pay check. I have decent scores (mid 700s) but I don't have any credit product from them.

Re: Penfed offers :just a sanity check

Jazzzy — Wed, 16 Sep 2009 14:02:49 GMT

@Anonymous wrote:
LynetteM, I agree that it is a nice perk to have the cell phone protection plan. I'm curious if you have a credit card with them. I have been a member of Pen Fed for about 2 years now and I have never received any "offers" for any of their products. Granted, I rarely pay attention to the advertisement on the right side of my screen. I just have a savings account with them that I put x amount in every pay check. I have decent scores (mid 700s) but I don't have any credit product from them.

Yes, I have the cash rewards VISA. That was part of the deal...that I have to pay my cell bill through the VISA. I was just paying my cell bill directly, and now I'll get rewards on it. Do you have a credit card with them?

As to funding savings, I tried to set up an automatic draw where PenFed takes so much out of my hometown savings each month and adds to my PenFed savings. They said they couldn't do that...that I have to set it up as a bill pay where I currently have my savings account. I haven't taken the time to do that yet. Did you set yours up to pay automatically from your pay check?

Re: Penfed offers :just a sanity check

Anonymous — Wed, 16 Sep 2009 14:04:49 GMT

@Anonymous wrote:
lphelphs, I think that is a very good question. Are these offers only coming up for people who have a credit card with them?

You don't have to have a CC with them to receive offers.

You may have to have completed a credit app - that I am not sure about.

If you have any questions pick up the phone and ask a CSR. They are very nice and will be glad to help you 24/7.

Re: Penfed offers :just a sanity check

Anonymous — Wed, 16 Sep 2009 14:06:27 GMT

@Anonymous wrote:
LynetteM, I agree that it is a nice perk to have the cell phone protection plan. I'm curious if you have a credit card with them. I have been a member of Pen Fed for about 2 years now and I have never received any "offers" for any of their products. Granted, I rarely pay attention to the advertisement on the right side of my screen. I just have a savings account with them that I put x amount in every pay check. I have decent scores (mid 700s) but I don't have any credit product from them.

You should app for a CC if you want one. What are you waiting for?

Re: Penfed offers :just a sanity check

Anonymous — Wed, 16 Sep 2009 14:09:24 GMT

LynetteM, no I don't have a credit card with them. I have too many right now and I really don't want or need another one. However, I do like the rewards on that they offer. I just don't want another card to keep track of unless Chase changes my reward structure on my Freedom.

And yes to question (2). I have an allotment come out of my check each pay period and deposited into my saving accounts with Pen Fed. This is done through my employer and not through Pen Fed. I hope this helps.

Re: Penfed offers :just a sanity check

Jazzzy — Wed, 16 Sep 2009 14:12:18 GMT

ETA: I wrote this before I saw your response on not wanting another card. We didn't need one either, but I am a rewards hound. This is the best rewards card I have come across thus far.

@Anonymous wrote:

You should app for a CC if you want one. What are you waiting for?

CWCID is right. I apped over the phone. Took all of 5 minutes, and they couldn't have been nicer. I liked doing it that way instead of online because we have some funky income (self-employed, rental income, etc.), and I wasn't sure how to fill in their blanks. The CSR walked me through it easily. I had to fax them some IRS records, which we are used to having to do. They may want a couple of pay stubbs from you, but it is painless...and I am so glad the forum members here were so encouraging and supportive.

Message Edited by LynetteM on 09-16-2009 07:12 AM

Re: Penfed offers :just a sanity check

Anonymous — Wed, 16 Sep 2009 14:11:40 GMT

Thanks creditwherecreditisdue! As I was mentioning to LynetteM, I now have 8 credit cards which is way too many for me right now. My goal was 3-5. I do like the rewards but I have my Chase Freedom, Discover, and AMEX Costco which pretty much covers everything. If Chase changes my reward structure, I may consider applying for the Pen Fed card.

Re: Penfed offers :just a sanity check

Anonymous — Wed, 16 Sep 2009 14:13:39 GMT

No more credit cards for me My wallet is heavy enough.

Re: Penfed offers :just a sanity check

Anonymous — Wed, 16 Sep 2009 14:14:56 GMT

I setup a link between my navy fed(through navy fed interface) and pen fed and just send money that way.. I was doing it from a pen fed interface but it was capped at 50.00 a day

Re: Penfed offers :just a sanity check

Anonymous — Wed, 16 Sep 2009 14:18:45 GMT

It is quite simple to app through the computer. If you do it with a rep on the phone they enter the information into the same system you do online. If you have a question while completing the app just call in and ask. Some loans/rates require an online app. I question in my mind what, if any, credit products you will be offered if you have never completed a credit app or do not already have a credit product. If you don't have a credit product they are not softing you - there will be some info they won't have and other info that is not updated.

Re: Penfed offers :just a sanity check

Anonymous — Wed, 16 Sep 2009 14:20:56 GMT

@Anonymous wrote:
I setup a link between my navy fed(through navy fed interface) and pen fed and just send money that way.. I was doing it from a pen fed interface but it was capped at 50.00 a day

This limitation is removed once you have been a member for six months.