Is Penfed New Account or Inquiry Sensitive?

[Anonymous]

I may be looking at getting a Penfed card in the near future. Are they new account or inquiry sensitive? I have 6 new accounts in 7 months and 4-9 inquiries depending on the bureau.

[Anonymous]

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@Anonymous wrote:
I may be looking at getting a Penfed card in the near future. Are they new account or inquiry sensitive? I have 6 new accounts in 7 months and 4-9 inquiries depending on the bureau.

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Shouldn’t be a problem if there aren’t a whole lot of others outside that 7 month window.  I have lots of new accounts in last 2-3 years and PenFed has approved me for everything that I have applied for with them and that’s quite a bit.  If your credit profile is strong enough then they will overlook those new accounts. 

[Anonymous]

My entire credit profile is in my signature. Plus a 12 month old car loan. Currently a $13 balance on a $8700 loan. Do you think I have a good chance at their new pathfinder card?

[Anonymous]

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@Anonymous wrote:
My entire credit profile is in my signature. Plus a 12 month old car loan. Currently a $13 balance on a $8700 loan. Do you think I have a good chance at their new pathfinder card?

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I only see what cards and limits you have, not scores, AAoA, etc .  However, based on what cards you have I think you have a very good chance.  

[Anonymous]

Thanks. Sorry about that. AAoA is 11 months. Scores are in the 730s-740s. No baddies. Utilization at 2%. Inquiries 4-9.

[SouthJamaica]

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@Anonymous wrote:
I may be looking at getting a Penfed card in the near future. Are they new account or inquiry sensitive? I have 6 new accounts in 7 months and 4-9 inquiries depending on the bureau.

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Yes they are new account and inquiry sensitive. They are known for denying applications, using the misnomer "pyramiding debt", when they really mean excessive new accounts and inquiries.

However, in my case, after I was denied for that reason, I was able to recon and get the card.

[Anonymous]

Figured I'd give an update. Got approved this morning for $4500. Thanks guys.

[fltireguy]

Congrats on your approval!
With ME, they didn’t seem to be too sensitive to new accounts or inq.. YMMV apparently though

[Anonymous]

Congrats ALK!!! Glad to see it worked out for you.