topic Re: PenFed - Pending..... in Credit Cards

PenFed - Pending.....

Anonymous — Fri, 08 Apr 2011 19:27:49 GMT

We just joined PenFed two weeks ago.

Got our signature paperwork and I added my wife as a joint account owner. I decided to be proactive and sent them the last two years income tax returns as well as last two years W2 forms. I figured I would just send this in with the signature information hoping they would put it on file somewhere.

Decided today to app for the Rewards Visa. I completed the application and submitted. Resutling page started with "pending" $0.00. Just checked back and now it says "pending" $20,000.

You all that have been through this process - how should I read this since the amount went from "0" to "20K".

Good sign? Bad sign?

It would be great to get this card!

Thanks for any replies.

Ray

Re: PenFed - Pending.....

tntexans72 — Fri, 08 Apr 2011 19:48:06 GMT

I would say your $20K richer....or $20K of credit available....Congrats !

Re: PenFed - Pending.....

Anonymous — Fri, 08 Apr 2011 19:54:47 GMT

I am nervous about this one!

It would sure be a great card to have!

5% on gas at today's prices would be sweet considering we have three cars to feed!

Ray

Re: PenFed - Pending.....

tntexans72 — Fri, 08 Apr 2011 19:57:56 GMT

With a Fico score of 830, I am surprise they didn't limo service the card to your front door.

Re: PenFed - Pending.....

Anonymous — Fri, 08 Apr 2011 20:01:31 GMT

I could only wish for that! But, it is a goal.

We are in the 760's last I checked and that was before the first of this year. Have not checked since.

Based on all factors, we have one remaining card with a high balance on it. All others are now down to zero and we send all available money to this last card.

So, that high balance might bite me.

Ray

Re: PenFed - Pending.....

DI — Fri, 08 Apr 2011 20:05:40 GMT

@Anonymous wrote:
I could only wish for that! But, it is a goal.

We are in the 760's last I checked and that was before the first of this year. Have not checked since.

Based on all factors, we have one remaining card with a high balance on it. All others are now down to zero and we send all available money to this last card.

So, that high balance might bite me.

Ray

PenFed is running a 0%APR no transfer fee for the life of the balance on all its cards. So if you get approve you may just very well get it in good timing.

Re: PenFed - Pending.....

Anonymous — Fri, 08 Apr 2011 20:07:24 GMT

I know - and I missed that when I app'd....... Dang it!

I sent them a note referencing the application number and told them if approved, I want to balance transfer.

So - maybe. That "pending" is killing me right now! LOL!

Ray

Re: PenFed - Pending.....

Anonymous — Fri, 08 Apr 2011 20:13:42 GMT

Update:

Approved for $20,000! Subject to income verification...

"COMMENTS: Please send a copy of your two (2) most recent paystubs to PenFed via fax at 1-800-278-2212 or 1-800-557-7328.
BOTH PLEASE SEND A COPY OF YOUR TWO (2) MOST RECENT PAYSTUBS VIA FAX
AT 1-800-278-2212 OR 1-800-557-7328"

So we will do this and enjoy the rewards! When I applied, I under stated our income.

Funny though, I though I would cover this track with the paperwork that I already sent them......

Ray

Re: PenFed - Pending.....

DI — Fri, 08 Apr 2011 20:16:32 GMT

@Anonymous wrote:
Update:

Approved for $20,000! Subject to income verification...

"COMMENTS: Please send a copy of your two (2) most recent paystubs to PenFed via fax at 1-800-278-2212 or 1-800-557-7328.
BOTH PLEASE SEND A COPY OF YOUR TWO (2) MOST RECENT PAYSTUBS VIA FAX
AT 1-800-278-2212 OR 1-800-557-7328"

So we will do this and enjoy the rewards! When I applied, I under stated our income.

Funny though, I though I would cover this track with the paperwork that I already sent them......

Ray

Congrats!!

Re: PenFed - Pending.....

Anonymous — Fri, 08 Apr 2011 20:23:20 GMT

Thanks!

This will be great... Now I just have to find a fax machine! LOL - no phone line at home.

For $20k, I will find something!

Got to stop now - this stuff is addicting!

This month me:

1. AMEX Zync - approved.

2. Target Red Card - approved / $2500

3. Discover More - approved / $1500

4. Barclaybank iTunes Visa - approved / $2200

5. Home Depot - approved / $2000

6. PenFed (joint) - approved subject to income (not worried)/ $20,000

Wife:

1. AMEX Blue Cash - approved / $2000

2. Discover More - approved / $1000

Time to fly under the radar for a while - LOL

These new approvals bring out total credit to just under $90,000.00. Wow, I never thought we would see that day!

Now, once the pay stubs are at PenFed and the credit card is done, I think I will apply for a personal line of credit since we do not have one of those.

Ray

Re: PenFed - Pending.....

vish1 — Fri, 08 Apr 2011 21:17:07 GMT

I used faxzero a couple of days back to send a free fax. They did not ask for any card number or anything. You may want to try that.

Re: PenFed - Pending.....

Anonymous — Fri, 08 Apr 2011 23:01:21 GMT

I applied for a visa with penfed. The site asked me what type of card I wanted and if I wanted it sent express mail? It also gave me a approval amount between 500-7000, so I chose the 7000.00 amount. It then took me to another screen which said "pending" good or bad sign? Thanks myfico members!

Re: PenFed - Pending.....

Anonymous — Sat, 09 Apr 2011 00:04:27 GMT

Same thing I got.... Pending...

But now shows approved with income verification.

We did fax that late this afternoon so I would guess we will not know for sure until Monday now...

Just keep checking the application status - it should update for you.

Good luck!

Ray

Re: PenFed - Pending.....

creditguy-378 — Sat, 09 Apr 2011 00:31:57 GMT

congrats on that!!!!! i'm waiting till late summer till i join u got some good cards... i love my blue cash from amex!!!!

Re: PenFed - Pending.....

DI — Sat, 09 Apr 2011 00:44:44 GMT

@Anonymous wrote:
Same thing I got.... Pending...

But now shows approved with income verification.

We did fax that late this afternoon so I would guess we will not know for sure until Monday now...

Just keep checking the application status - it should update for you.

Good luck!

Ray

Ray, they work and approve on Sundays. I got approved after verification on a Sunday.

Re: PenFed - Pending.....

Anonymous — Sat, 09 Apr 2011 01:29:53 GMT

Ray, Im crossing my fingers. I have been a member since 2009 and I am hoping they take this into consideration. Does the application process always allow applicants to chose the limit amount? Thanks, kris

Re: PenFed - Pending.....

Anonymous — Sat, 09 Apr 2011 22:40:39 GMT

Thank you all!

I just checked and still shows Pending Income Verification... I know my fax got their and my wife thought hers did too.

Guess we continue to wait!

As for limit, Kris, when I applied there was nothing to fill in for a limit amount. Like I stated in my earlier post, the $20k just showed up...

I cannot figure AMEX out, I would like to have the Blue Cash and I guess I will wait until they "offer" or I will give it 90 or so days and app again. Once backdated (still working with them for 1979 - now at 1996), I might close the Zync. Who knows!

Ray

Re: PenFed - Pending.....

Anonymous — Sun, 10 Apr 2011 03:21:21 GMT

@DI wrote:
PenFed is running a 0%APR no transfer fee for the life of the balance on all its cards. So if you get approve you may just very well get it in good timing.

Their current promo is actually 4.99% BTFL with a no fee transfer.

Re: PenFed - Pending.....

Anonymous — Sun, 10 Apr 2011 03:24:37 GMT

@Anonymous wrote:
Thank you all!

I just checked and still shows Pending Income Verification... I know my fax got their and my wife thought hers did too.

Guess we continue to wait!

As for limit, Kris, when I applied there was nothing to fill in for a limit amount. Like I stated in my earlier post, the $20k just showed up...

I cannot figure AMEX out, I would like to have the Blue Cash and I guess I will wait until they "offer" or I will give it 90 or so days and app again. Once backdated (still working with them for 1979 - now at 1996), I might close the Zync. Who knows!

Ray

When you see "Transferred" you have been approved.

Re: PenFed - Pending.....

Anonymous — Sun, 10 Apr 2011 03:27:06 GMT

Being a member of PenFed for 3 or 4 years means absolutely nothing to PenFed. If you do not met their lending criteria, then it will be a hard sell to get them to approve a loan. They are not NFCU!