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Penfed success less than 1 year post BK.

House1204
New Contributor

Re: Penfed success less than 1 year post BK.


@FireMedic1 wrote:

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


I believe it is a fico9 score.

Amazon Store card:5k AOD:2k Apple Card:2250 Ashley Furniture:3.5k PNC:1500 Caesars Rewards:2k Capital One Quicksilver:2k Credit One Amex:500 DCU:10k Discover:2.5k Home Depot:1k Kohls:2.5k Lowes:10k Merrick Bank:1k Mission Lane:850 Paypal:1k Penfed Power Cash Rewards:2.5k Sam's Club:3k U.S. Bank secured:300

In the Garden until 08/22
Message 11 of 23
coreyb80
Senior Contributor

Re: Penfed success less than 1 year post BK.

Congrats on the approval!

Message 12 of 23
SUPERSQUID
Established Contributor

Re: Penfed success less than 1 year post BK.


@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.

 


CONGRATS !!!!!

Penfed pulls eq9

{ BK7 DC 12/2019 } target 700/ kohls 1500/ discover 3k /mercury 3350 /ollo 600 /mission lane 1050/ ikea 750/ firestone 2800 /legacy 2000 /first savings bank cc 2000/ cap1 QS 2k/ cap 1 savor one 3100 /comenity rewards mc 1k, Penfed PCR signature visa 7.5k, NFCU >signature visa cash rewards 9700

>/ nfcu platinum 1k, BABY NEEDS NEW SHOES !!!!!
Message 13 of 23
anniea4001
Regular Contributor

Re: Penfed success less than 1 year post BK.

@mark3038 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. 

Message 14 of 23
SUPERSQUID
Established Contributor

Re: Penfed success less than 1 year post BK.


@anniea4001 wrote:

@mark3038 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. 


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

{ BK7 DC 12/2019 } target 700/ kohls 1500/ discover 3k /mercury 3350 /ollo 600 /mission lane 1050/ ikea 750/ firestone 2800 /legacy 2000 /first savings bank cc 2000/ cap1 QS 2k/ cap 1 savor one 3100 /comenity rewards mc 1k, Penfed PCR signature visa 7.5k, NFCU >signature visa cash rewards 9700

>/ nfcu platinum 1k, BABY NEEDS NEW SHOES !!!!!
Message 15 of 23
Iberian
Established Member

Re: Penfed success less than 1 year post BK.

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!!🍾🎉🎊🎈 

Message 16 of 23
sihmud
New Contributor

Re: Penfed success less than 1 year post BK.


@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. 

 

Screenshot 2022-01-06 143444.png


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?

Message 17 of 23
anniea4001
Regular Contributor

Re: Penfed success less than 1 year post BK.

@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%. 

Message 18 of 23
moncsicsi
Member

Re: Penfed success less than 1 year post BK.


@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. 

 

Screenshot 2022-01-06 143444.png


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.

Message 19 of 23
SUPERSQUID
Established Contributor

Re: Penfed success less than 1 year post BK.


@moncsicsi wrote:

@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. 

 

Screenshot 2022-01-06 143444.png


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.


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.

{ BK7 DC 12/2019 } target 700/ kohls 1500/ discover 3k /mercury 3350 /ollo 600 /mission lane 1050/ ikea 750/ firestone 2800 /legacy 2000 /first savings bank cc 2000/ cap1 QS 2k/ cap 1 savor one 3100 /comenity rewards mc 1k, Penfed PCR signature visa 7.5k, NFCU >signature visa cash rewards 9700

>/ nfcu platinum 1k, BABY NEEDS NEW SHOES !!!!!
Message 20 of 23
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