Penfed success less than 1 year post BK.

[House1204]

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@FireMedic1 wrote:

Congrats @anniea4001 . Might have been FICO 8 or 9 Bankcard Score. Not a member.So dont know which one.

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I believe it is a fico9 score.

[coreyb80]

Congrats on the approval!

[SUPERSQUID]

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@anniea4001 wrote:

@Credit_Master thank you.

According to the letter Penfed sent me, they pulled my EQ with a 652 score. Not sure which Fico version thou because the letter does not say. 

But my Fico 8s were around the 660's last time I checked a couple of weeks ago.

Utilization always under 5% all across the board.

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CONGRATS !!!!!

Penfed pulls eq9

[anniea4001]

@Anonymous thanks for the info. I did not know about that.

At this time I have enough cards so I will not be asking for a second one yet, but this might be helpful for other people.

I think I am gonna hold off on a 2nd Penfed card for now. I am happy with the opportunity to have them in my wallet as I rebuild. 

[SUPERSQUID]

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@anniea4001 wrote:

@Anonymous thanks for the info. I did not know about that.

At this time I have enough cards so I will not be asking for a second one yet, but this might be helpful for other people.

I think I am gonna hold off on a 2nd Penfed card for now. I am happy with the opportunity to have them in my wallet as I rebuild. 

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I am thinking like you. I just got the PCR in december with a sl of 7.5k plus a bt offer at zero for 12 months. I plan to use that one. then i also got an NFCU CR in december and i plan to do the 91/3 thing in april, the second card with NFCU i want to apply for in april is the platinum which also comes with a bt offer. maybe i will save applying for the penfed gold until the one year mark on card one. Its great info to know the gold is the easiest to get at penfed though

[Anonymous]

PenFed gave me an auto loan 7-8 months post BK. They declined me for a credit card because of no money in shares savings according to their website, I deposited into it then I called in and then they said bankruptcy and recent derogatories on my report. 

ANYWAY CONGRATULATIONS!!🍾🎉🎊🎈 

[sihmud]

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@anniea4001 wrote:

My CH7 was discharged in March 2021. Soon after filling in Dec 2020 I opened a savings account with Penfed and I had been adding a little money here and there since. Today I logged in to my Penfed account to find a credit card approval on my main page. I decided to pull the trigger and was an instant approval with a 5k SL. I cannot express how thrilled I am with this. I must admit my rebuild has been much much better than I expected when I decided to file for BK. I never had this much available credit before filling, probably because I did not understand credit like I do now and was not on top of things like I have been in the last few years. 

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did you open your membership before or after discharge? also what kind of credit score and tradelines did you have at the time of PenFed approval?

[anniea4001]

@sihmud I joined Penfed before my discharge.

According to Penfed's letter they pulled EQ with a 652 score. All Fico 8 scores currently around 650s. 

As far as tardelines I have several cards I have opened since discharge, total available credit before Penfed Approval was 17k. CapOne, Ollo, Mercury and a couple of retail cards. 

All on time payments, utilization always under 5%. 

[moncsicsi]

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@anniea4001 wrote:

My CH7 was discharged in March 2021. Soon after filling in Dec 2020 I opened a savings account with Penfed and I had been adding a little money here and there since. Today I logged in to my Penfed account to find a credit card approval on my main page. I decided to pull the trigger and was an instant approval with a 5k SL. I cannot express how thrilled I am with this. I must admit my rebuild has been much much better than I expected when I decided to file for BK. I never had this much available credit before filling, probably because I did not understand credit like I do now and was not on top of things like I have been in the last few years. 

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Congratulations! That's fantastic!

Did you put a lot in your savings? Right now, keeping anything in savings accounts is basically losing money, so I am very reluctant to do it, but if a couple of hundreds would do, I would be OK with that.

[SUPERSQUID]

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@moncsicsi wrote:

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@anniea4001 wrote:

My CH7 was discharged in March 2021. Soon after filling in Dec 2020 I opened a savings account with Penfed and I had been adding a little money here and there since. Today I logged in to my Penfed account to find a credit card approval on my main page. I decided to pull the trigger and was an instant approval with a 5k SL. I cannot express how thrilled I am with this. I must admit my rebuild has been much much better than I expected when I decided to file for BK. I never had this much available credit before filling, probably because I did not understand credit like I do now and was not on top of things like I have been in the last few years. 

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Congratulations! That's fantastic!

Did you put a lot in your savings? Right now, keeping anything in savings accounts is basically losing money, so I am very reluctant to do it, but if a couple of hundreds would do, I would be OK with that.

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In my case i put 15 bucks in a savings with penfed in may 2021, let it sit and gain cobwebs, then i applyed for the penfed power cash rewards in december 2021 and was approved for 7500 at 17.99, my bk7 was 1yr 11mos pst dc at that time.