PenFed Approval Criteria?

[FinStar]

I just bit the bullet with PenFed (literally less than 12 hour ago - joined and apped) and I have about ~11 recent inqs on EQ, which includes several new accounts from the last 6 months (3 have not reported as of yet).  So, I did a little experiment to see how giving the PenFed "gods" would be in my scenario.  All with great encouragement from baller4life and Lyythine    My Defender AMEX application went into Pending (LO Review) so we'll see how it pans out early next week.

[ADARPegasus]

My credit profile is

Oldest account 2 years 2 months
AAoA 1 year
10 accounts
6 revolving
4 loans

Equifax score is in my signature.

[ADARPegasus]

And 1 inquiry.

[Anonymous]

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@FinStar wrote:

I just bit the bullet with PenFed (literally less than 12 hour ago - joined and apped) and I have about ~11 recent inqs on EQ, which includes several new accounts from the last 6 months (3 have not reported as of yet).  So, I did a little experiment to see how giving the PenFed "gods" would be in my scenario.  All with great encouragement from baller4life and Lyythine    My Defender AMEX application went into Pending (LO Review) so we'll see how it pans out early next week.

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Good luck with the application.  I wouldn't follow the guidance of Lyythine though.  Shady characther 😎. On the other hand, Baller4life is a good role model

[Anonymous]

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@Jonbuck06 wrote:
And 1 inquiry.

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You should be fine.  Only negative is lack of credit history but I don't think that will prevent you from being approved.

[ADARPegasus]

Ok i will apply in the next week but here is a more accurate view of my credit.

Score 769 as of today

AAoA is 1 year

Oldest account is 2 years 1 month

Income is currently $200,000 been that for a year

Installment Loan Balance $86512

Revolving Balance $198

Total Accounts 12

Accounts with Balances 4
Number of accounts opened in last year 3

Recent Inquiries 1

Collections 0

Public Records 0

Authorized Users 0

[ojefferyo]

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@B335is wrote:
If it's been a year and you have clean reports I would try again. Penfed is like a busted soda machine, you have to rock it a few times to tip it over

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I rocked the soda machine and it fell on me. They gave me a PLOC of $20k but wouldn't do an increase on my Platinum Rewards Visa. Said they wanted to see history but also threw in that I  was an Egyptian. Go figure

[baller4life]

LOL @ Irish!! I reminded Finstar you got approved with quite a few new accounts as well. He will be just fine!

[Anonymous]

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@Jonbuck06 wrote:

Ok i will apply in the next week but here is a more accurate view of my credit.

Score 769 as of today

AAoA is 1 year

Oldest account is 2 years 1 month

Income is currently $200,000 been that for a year

Installment Loan Balance $86512

Revolving Balance $198

Total Accounts 12

Accounts with Balances 4
Number of accounts opened in last year 3

Recent Inquiries 1

Collections 0

Public Records 0

Authorized Users 0

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Your Golden ticket is waiting for you....

[Anonymous]

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@baller4life wrote:
@Anonymous @ Irish!! I reminded Finstar you got approved with quite a few new accounts as well. He will be just fine!

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Yup.  I had quite new accounts as well as inquiries.