cancel
Showing results for 
Search instead for 
Did you mean: 

Finally joined Penfed... question

tag
Anonymous
Not applicable

Re: Finally joined Penfed... question

Thank you ticka, I will wait 6 months and try for it again as my AAOA goes up. 😎
Message 21 of 26
xaximus
Valued Contributor

Re: Finally joined Penfed... question

Good luck with trying again in 6 months.

 

Just an FYI - I saw that the income you stated vs. your TCL is a bit risky. It may be smart to lay low and not apply for anything for atleast a year. I don't think you want to get AA for credit seeking behavior.

 

I can see from reading prior posts that it's more of a "goal" for you to get as many cards as you can but that's a very risky slope, especially if your income does not support it. Just from a quick add, it looks like your TCL is over 200k while income stated was around 60k. That alone is a red flag. I would be careful.



Scores - All bureaus 770 +
TCL - Est. $410K
Message 22 of 26
Anonymous
Not applicable

Re: Finally joined Penfed... question

Thank you for the heads up . My goal is to get the cards I have always wanted, not just any card that’s out there though. I will attempt to tread carefully , sometimes that’s easier said than done lol 😎
Message 23 of 26
xaximus
Valued Contributor

Re: Finally joined Penfed... question


@Anonymous wrote:
Thank you for the heads up . My goal is to get the cards I have always wanted, not just any card that’s out there though. I will attempt to tread carefully , sometimes that’s easier said than done lol 😎

Unless you're putting heavy usage through the current crop of cards, I would not get any more cards until you "thin the herd". If I was a CC lender and I saw your profile, I would think twice of approving you. Think about it, would you give someone a large amount of CL when their income states otherwise? As before, not being biased or anything. Just something to think about. It's very easy to go into debt when one has a large TCL, as some say, it's a slippery slope down.

 

My suggestion would be to close out the cards that don't get much usage or to trim down their CL. Your TCL is nearly 3x-4x your income. Reality is that, when someone's TCL gets to that point, AA becomes reality sooner or later.



Scores - All bureaus 770 +
TCL - Est. $410K
Message 24 of 26
Anonymous
Not applicable

Re: Finally joined Penfed... question

There are some cards on the chopping block that I have for sure. And some I plan to product change and close out the ones I don’t use. So that definitely is in my future credit goals!😀
Message 25 of 26
Anonymous
Not applicable

Re: Finally joined Penfed... question


@Anonymous wrote:
There are some cards on the chopping block that I have for sure. And some I plan to product change and close out the ones I don’t use. So that definitely is in my future credit goals!😀
Implement those plans before hitting PenFed again (in fact before anymore new apps), I didn't want to say too much on page 1 but what you got here is what people refer to as "Egyptian denials", too much CL vs income, too many total accounts/exposure and too many inquiries and new accounts in a short period of time, all things PenFed are extremely sensitive to, even if you have high scores and low UTI. When I saw the first denial with "max unsecured" reasoning, It was not hard to guess the 2nd would suffer the same fate. Good luck.
Message 26 of 26
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.