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PenFed Approved! 7 Months Post Ch7 BK

PenFed Approved! 7 Months Post Ch7 BK

Adding a PenFed DP. 
Opened account and applied for PenFed Power Cash Rewards. SL: $2,500
- Only have one secured Citibank card ($500) PIF, 2% UTI revolving

- Other CL: Car, Credit Union loan, student loans 

- Looking to rebuild credit profile

- IIB: Discover, Capital One, Credit One, TD Bank/Nordstrom  

 

BK: 8/2019, DC 11/2019

EQ: 641BK not listed in public record for EQ

EX: 639

TU: 619

 

Hope this helps someone who is thinking about applying. 

 

Message 1 of 8
7 REPLIES 7
Mjhall85
Frequent Contributor

Re: PenFed Approved! 7 Months Post Ch7 BK

Congrats on the great SL with PenFed! you could possible look at Merrick or Ollo for another card in a few months.

Chapter 7 filed 2/3
Discharged 6/30

Fico 8
EQ 681 TU 671 Ex 665
Fico 4 TU 690 Fico 5 702 Fico 2 693
Message 2 of 8

Re: PenFed Approved! 7 Months Post Ch7 BK


@Mjhall85 wrote:

Congrats on the great SL with PenFed! you could possible look at Merrick or Ollo for another card in a few months.


Thanks on the advice. I appreciate it! 

Message 3 of 8
DebtStinks
Established Contributor

Re: PenFed Approved! 7 Months Post Ch7 BK

@FreshStartDarlingDee  I'd keep a close eye on that account. From what I've been told on numerous occasions, PenFed does not grant unsecured credit to individuals who have filed CH7 BK until at least 2 years post discharge...again, they change their guidelines all the time, but I was told that on two different apps...one of which was just past 2 years post FILING, but not discharge.

 

The reason I'm concerned about this is because the bureau they typically pull is EQ and you state that your BK does not show on your EQ report.

 

Regardless, that's a good SL for a BK7 so fresh, especially with PenFed.

 

Best of luck!

PenFed Visa Signature $35000 (Opened 6/20) - NFCU More Rewards AMEX (Opened 1/19) $17000 - NFCU Platinum $15000 (Opened 1/21) - Capital One World Elite MC $11200 (Opened 11/17) - TTCU Platinum Visa $10000 (Opened 10/18) - Uber Visa $5000 (Opened 1/19) - Target Store Card $2000 (Opened 10/18) - Floor & Decor Store Card $36500 (Opened 10/18)
Total CL - $131700

CH7 BK Filed 8/1/17 Discharged 11/7/17

Scores as of 2/18/21:




Inquiries Last 12 Months:
Message 4 of 8

Re: PenFed Approved! 7 Months Post Ch7 BK


@DebtStinks wrote:

@FreshStartDarlingDee  I'd keep a close eye on that account. From what I've been told on numerous occasions, PenFed does not grant unsecured credit to individuals who have filed CH7 BK until at least 2 years post discharge...again, they change their guidelines all the time, but I was told that on two different apps...one of which was just past 2 years post FILING, but not discharge.

 

The reason I'm concerned about this is because the bureau they typically pull is EQ and you state that your BK does not show on your EQ report.

 

Regardless, that's a good SL for a BK7 so fresh, especially with PenFed.

 

Best of luck!


Thanks  for the heads up! I will keep an eye out and let you know how it goes. It wasn't an instant approval- it took them 2 days to review. So fingers crossed everything is all good 

Message 5 of 8
coreyb80
Valued Contributor

Re: PenFed Approved! 7 Months Post Ch7 BK

Congrats on the approval!

Message 6 of 8
AllZero
Super Contributor

Re: PenFed Approved! 7 Months Post Ch7 BK

Congratulations on your approval! Thank you for sharing the data points.
Message 7 of 8
M_Smart007
Epic Contributor

Re: PenFed Approved! 7 Months Post Ch7 BK


@FreshStartDarlingDee wrote:

Adding a PenFed DP. 
Opened account and applied for PenFed Power Cash Rewards. SL: $2,500
- Only have one secured Citibank card ($500) PIF, 2% UTI revolving

- Other CL: Car, Credit Union loan, student loans 

- Looking to rebuild credit profile

- IIB: Discover, Capital One, Credit One, TD Bank/Nordstrom  

 

BK: 8/2019, DC 11/2019

EQ: 641BK not listed in public record for EQ

EX: 639

TU: 619

 

Hope this helps someone who is thinking about applying. 

 


@FreshStartDarlingDee, CongratulationsSmiley Happy

Message 8 of 8
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