Absolutely.... Time is the biggest obstacle in this crazy game if credit. I will reinforce my cage in the garden w titanium. lol. Thanks for all the input.
Data points.
*Fico 745
*History 3yrs (oldest card) (took me years to clean up after My ex and finally get a cap one unsecured).
*Inquiries- TU 5....EQ 3 (one is Penfed) in ......Exp- 6
*total cards- 6 (3 in last 3 months) Amex Mag..... Savor....Disco.
Total credit- $50k
Utilization- 1%
Did I miss Anything? Oh yea...PenFed PCR- $500 SL
Thx again.
Data points.
*Fico 745
*History 3yrs (oldest card) (took me years to clean up after My ex and finally get a cap one unsecured).
*Inquiries- TU 5....EQ 3 (one is Penfed) in ......Exp- 6
*total cards- 6 (3 in last 3 months) Amex Mag..... Savor....Disco.
Total credit- $50k
Utilization- 1%
Did I miss Anything? Oh yea...PenFed PCR- $500 SL
Thx again.
@Anonymous wrote:UPDATE....................I just called to follow up on my joint borrower app as its been past 48hrs. I was put on hold for a few minutes and they came back and APPROVED for Cash Reward card with an SL of $500. Not thrilled about the Sl, but also will take the card as a foot in the door and work on using it and paying off, inhope of CLI in the future!! Mixed feelings about it all, but I do agree with you @
! I have stepped on the breaks and I am in the garden for at least a year or more now. Finito, Done, Finished!! lol. I do have an Amex Cash Magnet with SL $12k that I am on day 65 that I am going to go for 3X CLI, then graden time for a while!!! My balance on the Magnet card is $0, but last statement balance was $4,400 (36% utilization). Fico updated two weeks ago on Amex at 745. Will Amex use my current balance of $0 along with the Fico 745, or will they look at my previous statement balance of $4,400. If that, should I wait till the 11th, when the new statement kicks in and reports $0 balance? Thx All
Mark
Going gardening after CLI request Amex.
Mark - Penfed has been the most puzzling credit issuer to me so far...
I joined Penfed with maybe 6mths credit history / have applied multiple products over years and approved / denied. To me, there is no rational approval / denial standard. Last time when they denied my app, I talked to LO and was told since I am old(?), what if something(?) happens ot me. I make more than a quater million, my fico is around 790, and no derog - not even a single late payment. And I am not even 60 yrs old yet. Maybe I should send them a copy of my last physical.....
I was also questioned about applying for more credit products when I do not use. My CR showed 1% util.
Whatever Penfed CSR / LO mentioned to you are just excuses based on irrational UW policy. The only reason I do not close the accounts is there are no fees charged. Dont pursue Penfed... You will accumulate more credit when you chase others.
Thread locked as it is now an approval. Congrats @Anonymous and feel free to start a new approval thread.
