topic Persistence with PenFed in Credit Cards

Persistence with PenFed

joe867 — Fri, 08 Mar 2013 02:37:06 GMT

So this story starts on February 14th when I decided to give my first app spree a try. I went for the CSP, BCP, PenFed Platinum Rewards and a CLI with my PSECU Visa. It was a very successful app spree and I was approved for everything I had apped for. Woo hoo!

But I still had the itch... So a week later I went for the Ink Bold and after a brief explanation of my IT consulting side business I got that. Still batting a thousand, great!

A week later I still had a lingering itch but I knew I didn't want any more HPs. I was poking around PenFeds website and decided I would give a shot at a personal LOC and their Defender Amex since they had a promotion allowing prior service members to qualify for it and at 6.9% for 60 months.

First application... Turned down, needed to send in notarized copy of ID and utility bill.

Second application... Turned down for the Defender Amex but approved for 10k LOC. I was happy about the LOC but being turned down for the Defender Amex wasn't going to work for me since it ruined my 100% success rate and I really liked the rate. After a conversation with a CSR she said I was turned down because they would only open so much credit in the first year. I asked if it was possible to take 5k from the LOC and transfer it to the Defender to get approved. She said sure but I would have to submit that in writing via email. So that's what I did.

Third application... After calling in not quite 48 hours after applying and being asked to fax in a pay stub, Approved!

The whole process took almost 2 weeks and definitely tested my patience. Persistence certainly paid off in this situation.

Re: Persistence with PenFed

09Lexie — Fri, 08 Mar 2013 02:43:31 GMT

Congrats! Persistence DID pay off.

Now, off to the garden.

Re: Persistence with PenFed

youngandcreditwrthy — Fri, 08 Mar 2013 02:52:38 GMT

Congrats! This is the only Penfed card I want!
Im totes jelly, but Im certain you deserve it :-)

Re: Persistence with PenFed

fittiger — Tue, 02 Apr 2013 18:52:40 GMT

@joe867 wrote:
So this story starts on February 14th when I decided to give my first app spree a try. I went for the CSP, BCP, PenFed Platinum Rewards and a CLI with my PSECU Visa. It was a very successful app spree and I was approved for everything I had apped for. Woo hoo!

But I still had the itch... So a week later I went for the Ink Bold and after a brief explanation of my IT consulting side business I got that. Still batting a thousand, great!

A week later I still had a lingering itch but I knew I didn't want any more HPs. I was poking around PenFeds website and decided I would give a shot at a personal LOC and their Defender Amex since they had a promotion allowing prior service members to qualify for it and at 6.9% for 60 months.

First application... Turned down, needed to send in notarized copy of ID and utility bill.

Second application... Turned down for the Defender Amex but approved for 10k LOC. I was happy about the LOC but being turned down for the Defender Amex wasn't going to work for me since it ruined my 100% success rate and I really liked the rate. After a conversation with a CSR she said I was turned down because they would only open so much credit in the first year. I asked if it was possible to take 5k from the LOC and transfer it to the Defender to get approved. She said sure but I would have to submit that in writing via email. So that's what I did.

Third application... After calling in not quite 48 hours after applying and being asked to fax in a pay stub, Approved!

The whole process took almost 2 weeks and definitely tested my patience. Persistence certainly paid off in this situation.

I'm considering a similar spree in June..........What order did you app for these? What did each pull?

Re: Persistence with PenFed

Anonymous — Wed, 03 Apr 2013 00:32:05 GMT

What's a PENFED LOC? I know it's "line of credit", but what specifically is that? What did you apply for in terms of that??

Re: Persistence with PenFed

CS800 — Wed, 03 Apr 2013 01:40:20 GMT

YOu have the EQ score to back the Defender with. Penfed does require 740 + from what I was told for their cards.

Congrats, it's a great card

Re: Persistence with PenFed

Anonymous — Wed, 03 Apr 2013 03:05:55 GMT

Congrats