Looking to Get a Penfed Card

[odin_6]

Hi There,

I am looking to get a credit card with Penfed. (Preferably Power Cash Rewards) I've been with them since Fed 2019.

I have a access America checking, along with a savings account.

My fico bankcard 9 scores are as follows:

Experian - 612

Transunion - 749

Equifax - 632

There is a discharged chapter 7 on my Equifax and Experian that is over a year old.

From some of the data points I've read I have saw some approvals with a similar situation but not exact.

I wanted to know what my chances are as I've been with Penfed for a while now and I've gotten idk how many letters in the mail inviting me to apply for the power cash rewards.

[FireMedic1]

Welcome @odin_6 

I havent been with them long enough to get offers. It will appear as My Offer for pre-quals. Its prety soild per other members:

https://ficoforums.myfico.com/t5/Credit-Card-Applications/Penfed-Pre-Qualified-offers-real-or-fake/t... 

[SouthJamaica]

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@odin_6 wrote:

Hi There,

I am looking to get a credit card with Penfed. (Preferably Power Cash Rewards) I've been with them since Fed 2019.

I have a access America checking, along with a savings account.

My fico bankcard 9 scores are as follows:

Experian - 612

Transunion - 749

Equifax - 632

There is a discharged chapter 7 on my Equifax and Experian that is over a year old.

From some of the data points I've read I have saw some approvals with a similar situation but not exact.

I wanted to know what my chances are as I've been with Penfed for a while now and I've gotten idk how many letters in the mail inviting me to apply for the power cash rewards.

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I'm just guessing, but I think you'd be better off waiting until your EQ score is more in the neighborhood of 700.

[AverageJoesCredit]

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@SouthJamaica wrote:

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@odin_6 wrote:

Hi There,

I am looking to get a credit card with Penfed. (Preferably Power Cash Rewards) I've been with them since Fed 2019.

I have a access America checking, along with a savings account.

My fico bankcard 9 scores are as follows:

Experian - 612

Transunion - 749

Equifax - 632

There is a discharged chapter 7 on my Equifax and Experian that is over a year old.

From some of the data points I've read I have saw some approvals with a similar situation but not exact.

I wanted to know what my chances are as I've been with Penfed for a while now and I've gotten idk how many letters in the mail inviting me to apply for the power cash rewards.

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I'm just guessing, but I think you'd be better off waiting until your EQ score is more in the neighborhood of 700.

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This is good advice though I will say the new Penfed might suprise.  I would risk one hp to find out but if denied give it at least another year before trying again. 

[TRC_WA]

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@odin_6 wrote:

I wanted to know what my chances are as I've been with Penfed for a while now and I've gotten idk how many letters in the mail inviting me to apply for the power cash rewards.

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@SouthJamaica wrote:

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I'm just guessing, but I think you'd be better off waiting until your EQ score is more in the neighborhood of 700.

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I'd agree with the  700 score.

I've only been a PenFed member about 6 weeks.. I opened a savings account with them right after my Ch 13 discharge.

Yesterday I was approved for the Gold Visa... $2500 CL with a nice BT offer... $100 statement credit after $1500 spend and no AF.  Even though they market it as their lowest interest rate card I got the highest... 17%... LOL  I don't care though I mainly wanted to get in the door and I succeeded.  

Didn't apply for anything else.  myFICO said my EQ score was 677.  PenFed's approval email said it was 696.

[Caramelhunnyva]

I would go ahead and apply. It's a pretty good card, earning rewards  easily. I think my score was 645 (maybe) and I was approved. Received multiple CLI since 

[7774x]

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@odin_6 wrote:

Hi There,

I am looking to get a credit card with Penfed. (Preferably Power Cash Rewards) I've been with them since Fed 2019.

I have a access America checking, along with a savings account.

My fico bankcard 9 scores are as follows:

Experian - 612

Transunion - 749

Equifax - 632

There is a discharged chapter 7 on my Equifax and Experian that is over a year old.

From some of the data points I've read I have saw some approvals with a similar situation but not exact.

I wanted to know what my chances are as I've been with Penfed for a while now and I've gotten idk how many letters in the mail inviting me to apply for the power cash rewards.

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They refused on EQ at 680.. got it a Month later ..slightly higher fico