topic Re: Needing a PenFed guru to app for a LOC in General Credit Topics

Needing a PenFed guru to app for a LOC

Anonymous — Thu, 07 Apr 2016 14:05:20 GMT

I am new to PenFed: 20K car loan in 12/15 and 18K CL Visa last week.

I want their PLOC and would prefer soon but don't want to jump the gun and risk a denial or too low SL.

If it matters the Visa has yet to hit the bureaus and they did re-pull my EQ last week to qualify my cc.

And I can't shop too many places due to my only recently DC BK13 from 12/15.

Thanks so much

Re: Needing a PenFed guru to app for a LOC

MauiMan85297 — Thu, 07 Apr 2016 14:27:44 GMT

baller4life she should be able to help big time

Re: Needing a PenFed guru to app for a LOC

Anonymous — Thu, 07 Apr 2016 14:33:27 GMT

Is there a way to reach out to her direct on this site or can you forward?

Please advise and thanks.

Re: Needing a PenFed guru to app for a LOC

baller4life — Thu, 07 Apr 2016 14:38:30 GMT

How much are you wanting on the PLOC? $15k and above will require additional documentation. You are the very first approval I have seen with such a fresh bk reporting. Apping the PLOC wouldn't be an additional hp since you just got one. However, I'm just not optimistic you would be approved. Their PLOC is probably their hardest product to get approved for. But, hey you have nothing to lose to try for it.

Re: Needing a PenFed guru to app for a LOC

Anonymous — Thu, 07 Apr 2016 14:49:01 GMT

Hey B4L,

Thanks so much for the prompt reply, I really appreciate it.

$10K or so is fine. But would you recommend waiting two months, but before the HP app expires of course? Calling or doing on line? Any subtext you can offer would be great.

Ps. If you're familiar w others w PLOC's let me know but please remember my checkered past and subsequent limitations.

Thanks

Re: Needing a PenFed guru to app for a LOC

Anonymous — Thu, 07 Apr 2016 14:56:09 GMT

OR...could I convert some of the Visa CL to their LOC? Back in the day AE was more than willing to do things like that.

Feel free to get as creative as you'd like.

Thanks

Re: Needing a PenFed guru to app for a LOC

baller4life — Thu, 07 Apr 2016 15:00:32 GMT

This is the thing. You can ask for $10k now and if denied, ask again right before your 90 days are up. Give it go. They seem to like you

Do you have any way in Navy Federal?

ETA: IF denied you can always send a detailed explanation of your situation. Their analysts have been really good with recons lately.

Re: Needing a PenFed guru to app for a LOC

Anonymous — Thu, 07 Apr 2016 15:04:43 GMT

Hah. No. I only got in, in the first place, by being a second signer on the car loan---then opening the requisite savings account---I am not military.

Re: Needing a PenFed guru to app for a LOC

baller4life — Thu, 07 Apr 2016 15:11:14 GMT

Ok so the cc is your first account as primary with Penfed? Ok try now and if denied send recon email.

Re: Needing a PenFed guru to app for a LOC

Anonymous — Thu, 07 Apr 2016 15:14:39 GMT

@baller4life wrote:
How much are you wanting on the PLOC? $15k and above will require additional documentation. You are the very first approval I have seen with such a fresh bk reporting. Apping the PLOC wouldn't be an additional hp since you just got one. However, I'm just not optimistic you would be approved. Their PLOC is probably their hardest product to get approved for. But, hey you have nothing to lose to try for it.

Re: Needing a PenFed guru to app for a LOC

Anonymous — Thu, 07 Apr 2016 15:14:51 GMT

Correct on first primary.

App via phone or on line?

More imp, thanks so much B4L.

Re: Needing a PenFed guru to app for a LOC

baller4life — Thu, 07 Apr 2016 15:16:03 GMT

App online. And you're welcome. Let us know how it goes!

Re: Needing a PenFed guru to app for a LOC

Ysettle4 — Thu, 07 Apr 2016 15:16:09 GMT

Apply for a $5K PLOC. It's tough to get it so aim low, seriously.

Re: Needing a PenFed guru to app for a LOC

Anonymous — Thu, 07 Apr 2016 15:18:13 GMT

Roger that.

Re: Needing a PenFed guru to app for a LOC

baller4life — Thu, 07 Apr 2016 15:18:45 GMT

@Ysettle4 wrote:
Apply for a $5K PLOC. It's tough to get it so aim low, seriously.

Great suggestion. But they will counter right?

Re: Needing a PenFed guru to app for a LOC

Ysettle4 — Thu, 07 Apr 2016 15:23:56 GMT

@baller4life wrote:
@Ysettle4 wrote:
Apply for a $5K PLOC. It's tough to get it so aim low, seriously.
Great suggestion. But they will counter right?

Most times, no. However, if you are able to get on the phone with a supervisor and have them advocate for you to the loan offier revewing the app, better results usually come of it.

Re: Needing a PenFed guru to app for a LOC

Anonymous — Thu, 07 Apr 2016 15:24:04 GMT

Good luck!

Re: Needing a PenFed guru to app for a LOC

Anonymous — Thu, 07 Apr 2016 15:47:35 GMT

Looks like I flew too close to the sun, or at least too early, on this one: DENIED---"length of history".

BTW I apped for $6K.

I will revisit in 10 weeks and let you know.

Thanks for everbody's help, much appreciated.

Re: Needing a PenFed guru to app for a LOC

Ysettle4 — Thu, 07 Apr 2016 16:38:24 GMT

@Anonymous wrote:
Looks like I flew too close to the sun, or at least too early, on this one: DENIED---"length of history".

BTW I apped for $6K.

I will revisit in 10 weeks and let you know.

Thanks for everbody's help, much appreciated.

No biggie. Give it a shot again right before the 90 days from the first creit pull is up.

Re: Needing a PenFed guru to app for a LOC

Revelate — Thu, 07 Apr 2016 16:51:26 GMT

@baller4life wrote:
How much are you wanting on the PLOC? $15k and above will require additional documentation. You are the very first approval I have seen with such a fresh bk reporting. Apping the PLOC wouldn't be an additional hp since you just got one. However, I'm just not optimistic you would be approved. Their PLOC is probably their hardest product to get approved for. But, hey you have nothing to lose to try for it.

Er what additional documentation baller? I was approved 20K with no furnishing of paperwork of any sort though admittedly that was back in August and I have some funky hold on my account that they want a written authorization for to release my being able to transfer funds to them /sigh.

My account may not be representative as a result.