topic Re: PenFed denied in Credit Cards

Great News from PenFed

Anonymous — Fri, 17 Aug 2007 02:31:45 GMT

Weird,weird,weird..... I opened an account with PenFed last month & kinda forgot about it until today. Sittin' around with not much to do, I decided to access my account online. To make a long story short, I had to call them to assist me with access. After the help, the rep asked me if I would like to apply for a 5.9 % Visa Gold with a max credit limit of $40,000 ? Now, of course, I want this card, but I figured I didn't have a chance. I just got turned down the other day for a furniture store card. What do I care ? They sell junk anyway So, I said.....what the hell. Not much to lose. She asked what kinda credit limit I wanted & I decided to shoot for $10k. Not sure where I got that number, but that's what I said. She asked me a gazillion questions & then said.....I have to send this to a supervisor, call back in 4 hours. My obvious thought was that this is the kiss of death. I called back later & she said they hadn't had a chance to review it but if I would hold on, she would have her boss take a quick look. After several minutes, she came back on & said, YOU'RE APPROVED ! I almost crapped my pants....I'm not kidding. She said all I need to do is fax them a paystub tomorrow & they will rush my card out. Did I get $10k ? Dunno & didn't ask. I'll know when I get it I guess. Point is, don't give up hope even when they keep saying no. Someone will eventually say yes. I'm real curious to see what happens with my app at CCCU. Thanks to everyone here & this wonderful board, I am getting my credit back on track. You guys rock !

Re: Great News from PenFed

smallfry — Fri, 17 Aug 2007 02:34:23 GMT

Did ya now?

Re: Great News from PenFed

Anonymous — Fri, 17 Aug 2007 02:57:59 GMT

Congrats!

Re: Great News from PenFed

cgmiller63 — Fri, 17 Aug 2007 03:37:16 GMT

way to go!

Re: Great News from PenFed

smallfry — Fri, 17 Aug 2007 03:46:53 GMT

5.9%? LOL.

Re: Great News from PenFed

Anonymous — Fri, 17 Aug 2007 12:34:13 GMT

"gold" cards normaly have a AF

Re: Great News from PenFed

Anonymous — Fri, 17 Aug 2007 14:57:50 GMT

Almost knocked you off your chair, huh? It's a great feeling after recently being told 'declined'. Congrats!

Re: Great News from PenFed

Anonymous — Fri, 17 Aug 2007 15:03:11 GMT

Congrat!!!!

Do you have to live in the state that the CU resides to become a member?

Re: Great News from PenFed

Anonymous — Fri, 17 Aug 2007 19:15:25 GMT

I have a credit card and PLOC with Penfed. I love them. You don't have to live in the state they are in. If you are not qualified to join you can join through an affiliate link they have on their site. By the way you can check your online account and your credit card will show up with the amount of your credit limit.

Message Edited by onmyway3161 on 08-17-2007 12:15 PM

Re: Great News from PenFed

Anonymous — Sat, 18 Aug 2007 00:49:03 GMT

I faxed the paystub that they wanted today. I called a few hours later to make sure they got it. I said, by the way, can you tell me my credit line....she said sure, $10k !!!! After crapping my pants so many times the last couple days, at least I have $10k to buy some new pants !!!!! I owe it all to the people of this board. If it hadn't been for you folks, I wouldn't know about Penfed or CCCU. Now, I can't wait to see what CCCU has to say. Thanks a bunch everyone !

Re: Great News from PenFed

Anonymous — Sat, 18 Aug 2007 20:58:29 GMT

RTO - Can I ask what are your financials? Any baddies? Scores? Util? Etc.?

Re: Great News from PenFed

Anonymous — Sat, 18 Aug 2007 21:01:17 GMT

BK from 2000. 665 score. Util kinda high honestly. Bills are paid on time & have been since BK. Was someone asleep on this one ? Maybe. But, I'll take it all day long

Re: Great News from PenFed

Anonymous — Sun, 19 Aug 2007 08:09:04 GMT

PenFed is one of the best regarded FCUs. They have an eligibility link on their homepage.

https://www.penfed.org/membershipApplication/eligibility/elig01.1.1.asp

If all else fails, you can join PenFed by joining the National Military Family Association (NMFA). There's a link right there on the PenFed page to join NMFA. It's $20 for a one year membership, and "Membership in NMFA does not need to be maintained in order to maintain membership in Pentagon Federal Credit Union."

My one regret, after job losses and medical expenses sent me down to Credit H*ll 6 years ago, was that I didn't let other debts default and keep PenFed current. After DW and I get into a house, and after I've PIF our PenFed collection, I might try to open an account with them. Will have to do some recon and find out whether they blacklist, even if you PIF everything you owe 'em.

Message Edited by Noah_Bodie on 08-19-2007 01:09 AM

Re: Great News from PenFed

Anonymous — Sun, 19 Aug 2007 14:23:25 GMT

Ok I just joined up and made a deposit. Didn't apply for a credit card though. I talked to a very nice rep to set up my online account. She did say that they pull EQ.

The 5.99% interest rate is on balance transfers. Regular rate is 10.99%.

Visa Gold Credit Card Visa Gold - 10.99% APR!

Choose from three card designs: Great money-saving benefits:

No annual fee
No cash advance fees
No balance transfer fees
No "teaser" rates
Same low 10.99% APR for purchases and cash advances

The Pentagon Federal Credit Union Visa Gold also gives you a variety of extra benefits including:

Emergency Card Replacement
Automobile Rental Insurance
$100,000 Travel Accident Insurance

Save even more with our low 5.99% APR balance transfer rate, fixed for life of each transferred balance!

Re: Great News from PenFed

smallfry — Sun, 19 Aug 2007 17:48:03 GMT

Uh yep.

Re: Great News from PenFed

Kooliad — Mon, 20 Aug 2007 15:24:23 GMT

ObsessedwithmyFico wrote:
Ok I just joined up and made a deposit. Didn't apply for a credit card though. I talked to a very nice rep to set up my online account. She did say that they pull EQ.
The 5.99% interest rate is on balance transfers. Regular rate is 10.99%.

Visa Gold Credit Card Visa Gold - 10.99% APR!

Choose from three card designs: Great money-saving benefits:
No annual fee
No cash advance fees
No balance transfer fees
No "teaser" rates
Same low 10.99% APR for purchases and cash advances
The Pentagon Federal Credit Union Visa Gold also gives you a variety of extra benefits including:
Emergency Card Replacement
Automobile Rental Insurance
$100,000 Travel Accident Insurance
Save even more with our low 5.99% APR balance transfer rate, fixed for life of each transferred balance!

Hey I just join I'm in Air Force and it is so true they are very nice. I think I will apply for a card and see what they say. She ask me like a million question ( she said I had a fraud alert on my credit). She told me to call back in 3 hour to see about the credit card. I will cross my finges and see.

Kooliad

Re: Great News from PenFed

Anonymous — Mon, 20 Aug 2007 18:23:24 GMT

Kooliad wrote:

Hey I just join I'm in Air Force and it is so true they are very nice. I think I will apply for a card and see what they say. She ask me like a million question ( she said I had a fraud alert on my credit). She told me to call back in 3 hour to see about the credit card. I will cross my finges and see.

Don't be offended or take it as a bad sign if they ask you to fax them paystubs, bank statements, or other financials. This is common with CUs and small banks. They are NOT AMEX doing F/Rs whenever they please, and they are one of the best regarded FCUs.

Re: Great News from PenFed

ronq — Mon, 20 Aug 2007 19:30:56 GMT

I have a FCU CC for a long time my oldest account and I have done a CLI 2 times since Feb. 07.

Re: Great News from PenFed

Anonymous — Tue, 21 Aug 2007 08:43:22 GMT

Noah_Bodie wrote:

Kooliad wrote:

Hey I just join I'm in Air Force and it is so true they are very nice. I think I will apply for a card and see what they say. She ask me like a million question ( she said I had a fraud alert on my credit). She told me to call back in 3 hour to see about the credit card. I will cross my finges and see.

Don't be offended or take it as a bad sign if they ask you to fax them paystubs, bank statements, or other financials. This is common with CUs and small banks. They are NOT AMEX doing F/Rs whenever they please, and they are one of the best regarded FCUs.

I just joined online also. I guess I have to wait for the materials to apply for their CC because you need a member number and it did not give me one when I joined. Said the materials would be sent and I need to sign the form. I used a debit card to make initial deposit. Will keep you posted. Can anyone confirm they pull Equifax???? That is my best score and I don't have any resent inq's.

Re: Great News from PenFed

Anonymous — Tue, 21 Aug 2007 23:30:56 GMT

Give 'em a call. They should be able to give you your member number over the phone.

Penfed appears to be an exclusive EQ puller.