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Just App'd for 3 Card with PenFed

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Established Contributor

Just App'd for 3 Card with PenFed

FICO 09 EQ - 706 - 114k salary 

Already denied for the Platinum Rewards Visa Signature

 

Open Accounts

Open Sky - 200 CL

Green Dot - 200 CL (OPENED 10/18)

Discover - 200 CL (OPENED 10/18)

Capital One - 200 CL (OPENED 10/18)

NFCU - 250 SSL (PAID DOWN 7.99%) duration 6 months (10/18)

0% utilization on CC's

Closed Accounts

Fifth Third Bank - 75 months / Derog 18 lates (almost 4 years since my last late)

Wells Fargo Dealer Services - 72 months (squeaky clean)

1 Collection - on Transunion currently in dispute. Had it removed from other 2.

Oldest Acct - 12 years; AAOA - 5.6 years

 

I app'd for 

PenFed Power Cash Rewards

PenFed Gold Visa

PenFed Pathfinder Rewards American Express

All are under review! LOL - What are my odds? 

 

Started 6/6/2018 EX - 588 ; EQ - 667 ; TU 575

Updated 12/2018


Message 1 of 6
5 REPLIES 5
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Frequent Contributor

Re: Just App'd for 3 Card with PenFed

I can't answer your question but I'm trying to compile some data points for myself. Do you know your FICO scores for the all three bureaus? I'm curious what impact the collection is having. Also, what is the breakdown of lates (30 vs 60 vs 90 vs 120 day)

 

Thanks,

~B


Message 2 of 6
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Established Contributor

Re: Just App'd for 3 Card with PenFed

I can't answer your question but I'm trying to compile some data points for myself. Do you know your FICO scores for the all three bureaus? I'm curious what impact the collection is having. Also, what is the breakdown of lates (30 vs 60 vs 90 vs 120 day)

 

Thanks,

~B

 

Sure  -

 

EX - 648

EQ - 662

TU - 611

 

30 DAYS - 13

60 DAYS - 5 

Started 6/6/2018 EX - 588 ; EQ - 667 ; TU 575

Updated 12/2018


Message 3 of 6
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Community Leader
Super Contributor

Re: Just App'd for 3 Card with PenFed

IMHO, I think the odds are slim but I hope I’m wrong. I feel this way because you have just opened up 3 new CCs and the SLs are dismal. On top of this you keep applying for credit which is akin to desperate behavior in the eyes of the lender.

The rule is if you get denied, take a break for about 6 months before applying again. With 200 SL, you barely squeaked by.

So I suggest gardening for a minimum of 12 months before reapplying.

GL2U


DEC 2019: EX 816, TU 820, EQ 810
DEC 2018: EX 777, TU 783, EQ 799
DEC 2017: EX 775, TU 778, EQ 769

|| NFCU CashRewards $30K || AmX Cash Magnet $30K || Discover IT $22.2K || Macy's $20K || NFCU CLOC $15K || NFCU Platinum $12.5K || AmX ED $11.5K || CitiCostco $7K || CitiDC $6.3K ||
Message 4 of 6
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Established Contributor

Re: Just App'd for 3 Card with PenFed

Received. Appreciate the advice. Just using up my last HP for the next 6-12 months. In the mean time I’ll make payments on time, maintain a low utilization.
Started 6/6/2018 EX - 588 ; EQ - 667 ; TU 575

Updated 12/2018


Message 5 of 6
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Valued Contributor

Re: Just App'd for 3 Card with PenFed

On top of what Inspired already said, you literally picked the worst lender who is probably the most sensitive to credit seeking behaviors, especially having already denied you recently. Need a lot of time in the garden before making your next move.
Message 6 of 6
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