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PenFed (IIB) Pre-Qualified Offer? (UPDATE: Declined)

Valued Contributor

Re: PenFed (IIB) Pre-Qualified Offer?

@Disregard, I applied for the PenFed Platinum Signature Rewards card back in March of this year; at the time I was 12-months post-discharge (Chapter 13), I did not burn PenFed, and my FICO 8 numbers were all in the mid to upper 600s; I was approved for $6,000.  What this means to me is PenFed probably has you on some sort of a list which going to keep you blocked for some time yet. 

I categorically refuse to do AZEO!

Message 11 of 15
Established Contributor

Re: PenFed (IIB) Pre-Qualified Offer? (UPDATE: Declined)

@FinStar wrote:

@mark3038 wrote:

From all that I have read on this site over the years. I think I should ask this;


Why are you applying to any company that was included in your BK?


There are so many banks and CU's out there that will accept you after a BK so why not just go with them and not apply to the ones you "burnt" until at least the BK is off of your report.


Banks like Capital One, Citi, well it is a long list that will take you with a BK. Just do not apply to any company that you included in your BK. Your scores are high enough for these lenders so just go with one that you have never dealt with before.



@mark3038 -- why not?

Before taking the judgemental stance on the OPs actions, I think folks would venture to ask you the same question on your FNBO (declined application) results. Granted, there's no BK and/or blacklist instance for your profile, but 20-some new accounts + inquiries in the past 24 months was definitely not going to bode well with FNBO.  


In all fairness, the OP wanted to test the waters for themselves to determine whether they were in PenFed's blacklist or not. If anything, since no other members responded with similar situations, the OP has provided some data points that can be useful to the community as a whole. So, even if the OP was declined, it's not the end of the world and they can reassess things in the future.

Although I never made a late payment to anyone Synchrony still closed my 7 accounts last year so it would be like me applying for a Synchrony card now. I would never do that with so many lenders out there I moved on . And to correct the record it is 27 new accounts in the last 11 months. FNBO did me a favor I don't need to be with screwy banks LOL 



Message 12 of 15
Frequent Contributor

Re: PenFed (IIB) Pre-Qualified Offer?

@Disregard wrote:

I decided to do it. Equifax was ran and I received an email telling me the app is under review. It said I should have an answer in 24-48 hours.

My gut feeling is it's going to be declined. I'll update this post as soon as I have an answer. At least the members who burned PenFed will have a solid DP for the future. 


I just received the decision and it was unfortunately declined. This was the list of reasons for their decision and the score they pulled. 





Unfortunately, I don't know if this even indicates if I'm blacklisted or not. Every lender that's blacklisted me (Amex, Discover, etc) has mentioned status of previous account on the denial letter when I've applied/tried to prequalify but every lender is also different. 

I was hoping the silver lining in the event of being declined would be that I finally have an answer to whether PenFed has me blacklisted but that's not happened.


Looks like my year in the garden restarts today. Maybe in 12 months I can finally be approved for a VS. Smiley Sad

Sorry to read about the denial.


I am not sure when it changed, but a lot of these "offers" appear to be marketing these days. It used to be that if you had that pre-approval (or sometimes they straight up said "approval") you would most likely be approved with no HP. 


Now it seems to be easy marketing for them; flash a product or two to entice those of us whom remember the (almost) guaranteed approvals to apply. 


I used to love those guaranteed offers.....


Thank you for sharing your experience, hopefully it can help others in the same situation.

Message 13 of 15
Established Contributor

Re: PenFed (IIB) Pre-Qualified Offer?

Unfortunate turn of events OP. It was a crapshoot and you did the community a service and took a HP for science. That being said, moving forward it would reason to assume that in the absence of a DP to the contrary an approval without making a CU whole fresh off a BK is beyond a longshot. 


ETA: PFCU has historically been more conservative than NFCU. Seems as they may have become a bit less tight recently but nowhere near as friendly as Navy.

Message 14 of 15
Regular Contributor

Re: PenFed (IIB) Pre-Qualified Offer?

I also got the pre approval offer via my log in and through the mail. I burnt them in a chapter 7 back in 2007 so I am in the same boat as you. However if they won't approve you for any loans or credit cards because you burnt them in a 7 or 13 then why do they even bother with pre approvals?

Current Scores

Message 15 of 15
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