Any Recent Penfed Apps?

[Anonymous]

I am curious if anyone has app for any Penfed CC recently. If so, can you share DP's and the outcome?

Trying to see if they have loosened up on new accounts, inquiries, scores etc?

[FinStar]

If you navigate toward the Approvals section of the boards, you can definitely see the results of a variety of PenFed approvals.  Similarly, searching this section of the forums can provide you with the additional details of those members who applied that were either denied or approved.

[RASULL12]

I recently got approved for a PCR for $25k with a EQ Fico 8 of 810 and I have many new accounts about 5 or 6 in the past year. 

I also helped my aunt get a PCR with them a few weeks ago. She has a 680 and a bk7 from 5 years ago and got approved for $6k which is now her highest limit. She's has 2 recent cards and a new auto loan. She also wasn't a member until the time of the application. I have been a member for 6 years. 

[Anonymous]

Thanks for the information

[Horseshoez]

This March I applied and was approved for their Platinum Rewards Signature Visa with a $6,000 starting limit; at the time I didn't think I had much chance of approval as my data points were:

• Chapter 13 discharge: March 2020
• Hard Pulls in previous 12 months: 14
• Credit Cards opened in previous 12 months: 3
• FICO 8 Scores (EQ/EX/TU): 664/653/691

[Anonymous]

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@Anonymous wrote:

I am curious if anyone has app for any Penfed CC recently. If so, can you share DP's and the outcome?

Trying to see if they have loosened up on new accounts, inquiries, scores etc?

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@Anonymous wrote:

I am curious if anyone has app for any Penfed CC recently. If so, can you share DP's and the outcome?

Trying to see if they have loosened up on new accounts, inquiries, scores etc?

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I applied for two cards from them last month, back to back, approved for $10,000 and $25,000. Fico score 771. I was a brand new customer and I applied based on what I read here on this site. I do have a lot of inquries but that did not stop them from approving me.

Thanks

Mark

[Anonymous]

Recently applied for the Platinu Card 7/30/21 and was approved for $12,500 HP

[AlanGJP]

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@Anonymous wrote:

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I applied for two cards from them last month, back to back, approved for $10,000 and $25,000. Fico score 771. I was a brand new customer and I applied based on what I read here on this site. I do have a lot of inquries but that did not stop them from approving me.

Thanks

Mark

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huh, stopped them from approving me. All 3 reports absolutely clean, 20+ cards - 150k combined limits, 5-7 inq (depends on report, just purchased a car) in the last 2 years - denied for too many recent inquiries/cards. Not sure how many you had, but it definitely affected my chances. (Granted almost all my inquiries were the same or a few days before app'ing. Went on an app spree after new car before 2years gardening - might have scared them off.)

[Anonymous]

I got approved on 8/5 for the Power Cash Rewards Visa at $2k SL. I didn't qualify for the Visa Signature with that limit. I did not make a post in the approvals section. 

They pulled EQ BankCard 9 which was 703 at time of pull according to them and myFico. My EQ 8 was probably in the 650's. I had 5 existing scoreable inquiries at the time (now 6 with PenFed counted). Average age of accounts 3yrs 10mos. I have a 5 year old charge off and a few lates pertaining to that charge off.

I had a savings account with $5 in it and have been a member since 10/2020. After approval - I have since added more to savings and opened a checking just to have as a secondary and build a relationship. Now I get 2% instead of 1.5% but that isn't why I opened the checking. I didn't know that gave me a boost until I got an email (clearly didn't read the fine print on earning 2% but not complaining!) My primary bank is BofA and I won't leave them. 

[AverageJoesCredit]

Yes