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Pen Fed 4yrs After Bk7

mspenny
Valued Member

Pen Fed 4yrs After Bk7

I filed BK7 4 years ago with no blemishes since. I am thinking about joining pen fed with intent to open CC shortly after. What are the odds of acceptance and approval with the BK on my reports?


Message 1 of 9
8 REPLIES 8
Hotter
New Contributor

Re: Pen Fed 4yrs After Bk7

They are BK friendly. Make sure your EQ fico 9 is above 650 before you apply. It’s a hard pull to join and they will use that same score for all credit apps for at least a month.
Message 2 of 9
JAG73
Moderator Emerita

Re: Pen Fed 4yrs After Bk7

I think you have a shot! I apped 5yrs post file date and was approved. 

Got some pruning to do... No more new cards!
Message 3 of 9
SteelerNYC
Valued Contributor

Re: Pen Fed 4yrs After Bk7

I got in with them 22 months post discharge. Modest $2k starting limit but I requested a CLI just before the 90 day mark (you want to with them) and I got bumped to $18,000.

 

My scores were 675ish, I had low inquiries and 3 credit cards that were about 18 months old with probably 20% utilization when I was approved.

Ch 7 Discharge May 2015
Discover/Target/NFCU CLOC/NFCU More Rewards Amex/NFCU Platinum/PenFed Power Cash Rewards/PenFed Pathfinder Visa/Citi Costco Visa/CapitalOne SavorOne/Apple Card - $139,100 total revolving, 21% utilization
3.25% mortgage July 2020, $20k used Auto Loan October 2020, $20k PenFed Personal Loan Dec 2020
687/683/673 EX/EQ/TU w/ 5/6/6 INQs as of Jan 2021
Spending 2021 in the Garden
Message 4 of 9
NowGettinBetter
Established Member

Re: Pen Fed 4yrs After Bk7

I had Penfed included in my bankruptcy and burned them for almost 27k. Discharged last year and working on my credit now. What do you all think of my chances of getting back with them sometime in the future?

 

Message 5 of 9
CreditNewguy
Regular Contributor

Re: Pen Fed 4yrs After Bk7

Unless you are planning on paying them the $27k you burned them, your chances are ZERO on getting back with them.  Navy is the same way.  They dont care if you got a discharge, they dont have to let you back in.

Message 6 of 9
mspenny
Valued Member

Re: Pen Fed 4yrs After Bk7

Thanks everyone for the feedback! Im going to continue to smell the flowers for a few more months and then go for it. I will share the outcome.


Message 7 of 9
SteelerNYC
Valued Contributor

Re: Pen Fed 4yrs After Bk7

I just got approved for the PenFed Pathfinder Amex . . details over in the Credit Card Approvals forum.

Ch 7 Discharge May 2015
Discover/Target/NFCU CLOC/NFCU More Rewards Amex/NFCU Platinum/PenFed Power Cash Rewards/PenFed Pathfinder Visa/Citi Costco Visa/CapitalOne SavorOne/Apple Card - $139,100 total revolving, 21% utilization
3.25% mortgage July 2020, $20k used Auto Loan October 2020, $20k PenFed Personal Loan Dec 2020
687/683/673 EX/EQ/TU w/ 5/6/6 INQs as of Jan 2021
Spending 2021 in the Garden
Message 8 of 9
pizza1
Community Leader
Super Contributor

Re: Pen Fed 4yrs After Bk7


@NowGettinBetterwrote:

I had Penfed included in my bankruptcy and burned them for almost 27k. Discharged last year and working on my credit now. What do you all think of my chances of getting back with them sometime in the future?

 


I will agree with poster @CreditNewguy, your chances of winning the lottery are better than getting back in with PF.  CU's will require pay back of all that was IIB before they let you back. So, unless you want to pay back that $27k to them...kiss them goodbye. 


My rebuild worked for me, but won't necessarily work for you!
BK7 D/C- 08/2013
Message 9 of 9
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