OutOfBK wrote:
I just applied for the visa sig and was denied. Reason given was a bankruptcy present. I joined pen fed in 2013 right after my chapter 13 bankruptcy discharge. So, 4 years post bankruptcy is obviously still a problem with pen fed. My scores hover at around 697 or so with multiple inquiries.
YMMV
As they say, Your Mileage May (WILL) Vary.
While I identified several data points you mentioned, there is NOT enough data to determine exactly why Pen Fed might have not approved you for a Visa Sig.
We do not know what revolving Credit Cards you are holding after four years, or their lines of credit amount. NOR utilization rates.
What are the multiple inquiries for? And over what periods of time? Did you successfully achieve new lines of credit? Did you receive credit line increases?
When you joined Pen Fed four years ago post BK, what did you do? Did you ever apply for a credit card during the past four years? Even for an entry level Promise card?
* as a side note, This past July my first credit card application post BK was with Pen Fed.
I was immediately denied, but approved on Recon for the entry level Promise card. It is all about YMMV.
So if you are willing to share, I am sure that the collective efforts of this vast MyFico would provide some feedback.
Additionally, besides myself, there are others with BK's included in the thread below who were approved by Pen Fed with BKs.
Pentagon Federal Credit Union Data Share
http://ficoforums.myfico.com/t5/Credit-Card-Applications/Pentagon-Federal-Credit-Union-Data-Share/m-...
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