PENFED Promise Card DENIED!!!

[Anonymous]

To keep it short, I have built my credit from zero in the last three years. I have 675 eqifax score and 753 transunion.

Applied for penfed (was declined 1.5 years ago) powerc cash, instant approval 5K SL. 4 days later, after reading a lot posts on this forum about the possibility of another card, I applied for a promise card, INSTANT DENIAL with a wierd reason

"We do not grant credit to any applicant on the terms you requested".

Call member number, representative puts me on hold for 5 minutes and comes back to tell me its because they gave approved me for another card. WOW!!! Is it that its just me or has anyone else had this experience? Did penfed stop approving multiple cards within 90 days?

Do you think I should do a RECON.? please advise

[Anonymous]

Sounds like you already did a recon and got their answer. What more could you possibly recon?

Sometimes you have to be happy for what you got. Penfed is a tough nut to crack for a lot of people. Give it some time and try again in 6 months if you really want that card. 

[AverageJoesCredit]

Be happy they approved A card. Many of us cant even get one Days of getting multiple products on 1 hp are gone. Penfed would hp their own mother if they could

[Anonymous]

What's the reason for the large difference between your Equifax and TransUnion scores?

[Anonymous]

I have a closed account that reported only to Transunion and Experian for 5 years. So I guess a longer credit history with Transunion.

[Anonymous]

Sure, but one account and a longer history shouldn't cause a 78 point difference.

[Anonymous]

I wish I knew better. I will continue to build. Will apply again in the future. Establshing Credit is a never ending  journey

[mikesonthemend]

I may be wrong, but I believe PenFed doesn't counter offer. You either get what you ask for or it is a denial. My denial was something like "credit history doesn't support credit line requested".

[zerofire]

Just because the card has PenFed Promise in the name does not mean that there is a Promise to issue the card to you. As of late PenFed has tightened up slightly with giving out HP's like candy. The 30 day validity is gone like the wind. Also they are not big fans of issuing multiple cards one after another but will do so if your profile supports it. My understanding is that since a new account is considered a credit line increase internally they used the same reason as for a CLi. PenFed does not do counter offers with CLi's and that is why your reason is so convoluted.

[SummerOf17]

Just got "No sigar" message from them myself.

Walked away to smoke a sigar, then came back and message was expired....ggrrrrrr...

WAsted HP.