topic Re: APPROVED FOR PENFED PLOC in Credit Cards

APPROVED FOR PENFED PLOC

Anonymous — Sun, 08 Jan 2012 02:39:41 GMT

I really cant believe it they denied me for every other thing I applied for with them but approved me for a personal line of credit for only 500$ but it will give me a chance to show them what I can do and be approved for an auto loan for a measly 1.99% and also a credit card that will grow to a huge cl

Re: APPROVED FOR PENFED PLOC

CS800 — Sun, 08 Jan 2012 02:47:38 GMT

@Anonymous wrote:
I really cant believe it they denied me for every other thing I applied for with them but approved me for a personal line of credit for only 500$ but it will give me a chance to show them what I can do and be approved for an auto loan for a measly 1.99% and also a credit card that will grow to a huge cl

Nice

Penfed shut me down for a CC.

The PLOC was instant approval?

Re: APPROVED FOR PENFED PLOC

Anonymous — Sun, 08 Jan 2012 02:51:23 GMT

Ya right I didn't get instant I had to recon the hell out of it seen two loan officers took over a week

Re: APPROVED FOR PENFED PLOC

CS800 — Sun, 08 Jan 2012 02:54:24 GMT

I wonder if they use the same pull they would use for CCand auto for 90 days. If they use it for the PLOC also

Re: APPROVED FOR PENFED PLOC

Anonymous — Sun, 08 Jan 2012 02:56:07 GMT

They did I love penfed

Re: APPROVED FOR PENFED PLOC

CS800 — Sun, 08 Jan 2012 02:59:50 GMT

Glad your recon worked, mine was shot down pretty quick. But nevertheless, great CU to be with. I just have to earn my way the hard way with them

Re: APPROVED FOR PENFED PLOC

andyaycw — Sun, 08 Jan 2012 03:01:53 GMT

@Anonymous wrote:
I really cant believe it they denied me for every other thing I applied for with them but approved me for a personal line of credit for only 500$ but it will give me a chance to show them what I can do and be approved for an auto loan for a measly 1.99% and also a credit card that will grow to a huge cl

Congrats! Penfed started me out with just $500 on their Visa Platinum Cash Rewards CC. In just two years it grew to $23k. Penfed does grow with you if you treat them right.

Re: APPROVED FOR PENFED PLOC

Anonymous — Sun, 08 Jan 2012 03:39:09 GMT

I've gotten over the idea of credit products from PenFed. It's very unlikely I'll be the kind of customer they want in a time frame that works for us both.

Re: APPROVED FOR PENFED PLOC

CS800 — Sun, 08 Jan 2012 03:51:31 GMT

They didnt even counter or recon with me. I guess I will see how it goes with them .If it doesnt go well, I'll stick with USAA who gave me an AMEX 4 days after Penfed denied me.

Re: APPROVED FOR PENFED PLOC

Anonymous — Sun, 08 Jan 2012 14:14:20 GMT

@CS800 wrote:
They didnt even counter or recon with me. I guess I will see how it goes with them .If it doesnt go well, I'll stick with USAA who gave me an AMEX 4 days after Penfed denied me.

PenFed really is a great place for people with perfect credit or who meet their criteria.

Re: APPROVED FOR PENFED PLOC

LS2982 — Sun, 08 Jan 2012 16:53:49 GMT

@Anonymous wrote:
I really cant believe it they denied me for every other thing I applied for with them but approved me for a personal line of credit for only 500$ but it will give me a chance to show them what I can do and be approved for an auto loan for a measly 1.99% and also a credit card that will grow to a huge cl

Congrats!!

Your foot is in the door, prove yourself and the products will come!!

Re: APPROVED FOR PENFED PLOC

Anonymous — Sun, 08 Jan 2012 17:03:27 GMT

^ LS,

I think you've gotta "Dance with who brung you".

PenFed has great products, but with around $39K in available credit I just can't see wasting another inquiry on them. They also didn't have any counter-offers on the 3 denials, LOL! Each denial was for a different reason, though. Have to give them credit for creativity.

The last app was one year ago, today. Swore they'd never get another pull unless the gold bar showed up, LOL! Even then, I'm gardening and don't foresee any love because they've never bothered softing Ex.

Re: APPROVED FOR PENFED PLOC

CS800 — Sun, 08 Jan 2012 19:17:04 GMT

I will give PenFed 1 year to offer me something. In a year my scores would have gone up even more. So I was was they review accounts every 6 months. I'm just not going to waste another inq with them on EQ.

Their recon team in pretty lame. They could see my discover with the 6500 CL in good standing, the AMEx in good standing but they decide to ignore it. They would not hear anything I had to tell them. But i have heard they are great so I'm willing to see what comes out of them.

Re: APPROVED FOR PENFED PLOC

Anonymous — Sun, 08 Jan 2012 19:30:59 GMT

@CS800 wrote:
I will give PenFed 1 year to offer me something. In a year my scores would have gone up even more. So I was was they review accounts every 6 months. I'm just not going to waste another inq with them on EQ.

Their recon team in pretty lame. They could see my discover with the 6500 CL in good standing, the AMEx in good standing but they decide to ignore it. They would not hear anything I had to tell them. But i have heard they are great so I'm willing to see what comes out of them.

I've been a member since Oct 2008, LOL!

Gave myself the "1 more year" speech last January. At some point this summer I took all the savings out except $50 and put it in an FNBO account that gives way better interest.

Basically keeping the account ot of morbid curiosity.

Re: APPROVED FOR PENFED PLOC

Cory — Mon, 09 Jan 2012 02:56:07 GMT

Penfed is a great CU. They are conservative, but from all of the reads about them they will reward you greatly if you stick with them and not faint! The CS is great.

Re: APPROVED FOR PENFED PLOC

Jazzzy — Mon, 09 Jan 2012 03:46:41 GMT

@CS800 wrote:
I will give PenFed 1 year to offer me something. In a year my scores would have gone up even more. So I was was they review accounts every 6 months. I'm just not going to waste another inq with them on EQ.

Their recon team in pretty lame. They could see my discover with the 6500 CL in good standing, the AMEx in good standing but they decide to ignore it. They would not hear anything I had to tell them. But i have heard they are great so I'm willing to see what comes out of them.

I was curious how they did their offers because my husband kept getting them, and I never did. He got those yellow-box offers like clockwork...and none for me. We have a couple of credit cards with them. I thought we were joint on at least one of them. I was in school and had only part-time income when we first applied, but now my income is a bit higher than his. I called and asked why he got the offers and I got none. She said, "Because you don't have a credit card with us." I guess I must be just an authorized user, even though one of the cards shows up on my account page. I wanted to update my income with them, but she said that they review the credit report and that a person doesn't need to update income. And, if you don't have credit with them they don't review your credit file. (I've had a small savings account for quite a while.) She said that if I had a card then I would be considered for the offers.

I decided to apply online. Instant approval for my own card with $13,000 limit. Not bad for starters. So, maybe I'll get some of those offers myself eventualy.