@washpadude wrote:
I got my PenFed membership in early August, share account only. I was denied for both credit card and line of credit immediately after joining.
The auto loan was very simple, took about 10 minutes online, instant decision. It was a refi. I was 12 months in to a 72 month loan and took out a 60 month loan with Penfed. Not much changed really, saved a couple of percent and gave me an opportunity to build a credit history with Penfed. I tried again right after the auto loan, for a credit card and was denied again. Penfed still seems like a good long-term credit solution. I'll try the credit card again in 3-6 months. I have way too many new accounts and inquiries right now.
Thanks again for the info.. Just wait and garden a little more till your scores recover I think you will eventually get a CC from them. As for myself I was grilled by one of their loan officer and could not verify my income, they were eager to only give me 5K and I told em, my recent credit approval from Barclay JetBlue was 11.5K, I guess it made a little sense to them about my income. So I sent in another paperwork (Letter from Employer stating my income) Called back and was told I had gotten approved for 8.5K.
Hoping the AutoLoan process will be a much better experience since they should have all those docs available in my profile.
Also the HP posted yesterday and it actually came back positive, no reduction on the score. Was actually upped by 3pts.
