topic Re: What Credit Score for Penfed Card? in Credit Cards

What Credit Score for Penfed Card?

MountainHiker — Thu, 16 Aug 2012 14:09:09 GMT

Thinking about applying for the Penfed card but not sure what score range they require. Any idea?

Re: What Credit Score for Penfed Card?

SportBike4Life — Thu, 16 Aug 2012 14:10:07 GMT

I would say probably 720+ and depending on your income.

Re: What Credit Score for Penfed Card?

beautybrainsbooty — Thu, 16 Aug 2012 14:13:46 GMT

Penfed is tough. Even if your score IS high. They recently turned me down for...wait, what was it?oh lack of revolving and I have a great score and even better income. Not even a starter card offer. I am keeping my account open with them because there products and service really are cream of the crop.

Re: What Credit Score for Penfed Card?

namvet — Thu, 16 Aug 2012 16:44:28 GMT

Penfed likes to see EQ scores above 700 and no recent inquires on your report.

Re: What Credit Score for Penfed Card?

Anonymous — Thu, 16 Aug 2012 17:09:01 GMT

I app for penfed 2 days ago platinum rewards visa and was approved for 20,500

my current score during the appl was 706 EQ 0 INQ for the last 6 month income was 89,000

Re: What Credit Score for Penfed Card?

CS800 — Thu, 16 Aug 2012 17:10:26 GMT

I was declined last year for a CC with a 685 FICO. They are tough but have great competitive rates, so I keep my checking open with them.

Re: What Credit Score for Penfed Card?

Anonymous — Thu, 16 Aug 2012 17:12:13 GMT

@namvet wrote:
Penfed likes to see EQ scores above 700 and no recent inquires on your report.

Re: What Credit Score for Penfed Card?

pgk500 — Wed, 24 Apr 2013 18:40:52 GMT

Hi,

Will you be willing to share your complete details at the time of application such as utilization rate for credit care, debt to income ratio inquiries in last two years and any additional details you might think of.

Thanks

PK.

Re: What Credit Score for Penfed Card?

Anonymous — Wed, 24 Apr 2013 18:56:34 GMT

@Anonymous wrote:
I app for penfed 2 days ago platinum rewards visa and was approved for 20,500
my current score during the appl was 706 EQ 0 INQ for the last 6 month income was 89,000

mr_postman, what other cards and limits were in your CR at the time and what was your util? any of your other cards opened within the last year.

PenFed is a tricky one. They generally give nice high limits, but will deny you for having too little credit and definitely deny you for having whatever they deem as too much credit. They absolutely hate seeing newly opened accounts when you apply for them.

Re: What Credit Score for Penfed Card?

ibmrad7 — Wed, 24 Apr 2013 19:06:08 GMT

Someone I know applied on Monday, 2 recent inquiries, 100K income, Utilization 15%, AAoA 4.5 years, got approval for 20K.

FAKO TU was 730

Hope this helps.

Re: What Credit Score for Penfed Card?

Ron1 — Wed, 24 Apr 2013 19:06:16 GMT

Penfed is very conservative. They only approved for $5K for Cash Rewards Platinum. My EQ score was 747.

Ron.

Re: What Credit Score for Penfed Card?

Anonymous — Wed, 24 Apr 2013 19:07:03 GMT

@ibmrad7 wrote:
Someone I know applied on Monday, 2 recent inquiries, 100K income, Utilization 15%, AAoA 4.5 years, got approval for 20K.

FAKO TU was 730
Hope this helps.

what did he current credit card portfolio look like?

Re: What Credit Score for Penfed Card?

ibmrad7 — Wed, 24 Apr 2013 19:10:18 GMT

@Anonymous wrote:
@ibmrad7 wrote:
Someone I know applied on Monday, 2 recent inquiries, 100K income, Utilization 15%, AAoA 4.5 years, got approval for 20K.

FAKO TU was 730
Hope this helps.

what did he current credit card portfolio look like?

I dont know in detail but ne lates ever, no negatives on file, no Auto loan.

Re: What Credit Score for Penfed Card?

Anonymous — Wed, 24 Apr 2013 20:34:48 GMT

I was denied about 2 years ago. EQ was about 785 util 16% and no derogs. Reason was pyramiding debt. Duh.

Re: What Credit Score for Penfed Card?

emptypockets — Wed, 24 Apr 2013 21:18:46 GMT

When I was approved for the AMEX Travel Rewards (6/12) my stats were as follows:

EQ pull, 1 INQ at time of app, 7% Util, EQ score 773, AAoA approx 4 years, mortgage and car loan reporting, no baddies. I was instantly approved for 9.5K. At the time, highest limit on other cards was 12K. Also, it was the first card I apped for in a app spress, and I did not have several of the cards listed in my profile (Freedom, CSP, Cash +, Diamond Preferred, and a couple others).

Re: What Credit Score for Penfed Card?

Anonymous — Wed, 24 Apr 2013 22:03:42 GMT

Out of curiosity. emptypockets, what is your income?

Thanks,

Re: What Credit Score for Penfed Card?

emptypockets — Thu, 25 Apr 2013 04:53:38 GMT

Income is 90-95k