PenFed PCR Denied... I need answers though

[Anonymous]

I applied for the PCR and it went to a LO for review. Came back denied due to "Limited Credit Experience".

Now my question Is, How does PenFed hold the HP from my PCR application? Is it held for a month or does it regenerate when the next month kicks in... Example: PCR app was on 4/21/18, do they keep that HP for the entire month then regenerates after 5/21 or???

[Anonymous]

PenFed typically reuses the same EQ hard pull for up to 90 days.  However, in the past year or so there have been several reports that those pulls were only valid for 30 days.   So its definitely a YMMV situation.

To specifically answer your question; a hard pull cannot regenerate.  It can only be done with the permission of the applicant(s) so they wouldn't do another hard pull unless you reapply and they deem the earlier pull to be no longer valid.

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@Anonymous wrote:
I applied for the PCR and it went to a LO for review. Came back denied due to "Limited Credit Experience".

Now my question Is, How does PenFed hold the HP from my PCR application? Is it held for a month or does it regenerate when the next month kicks in... Example: PCR app was on 4/21/18, do they keep that HP for the entire month then regenerates after 5/21 or???

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[Anonymous]

Thanks for that info @MaizeandBlue.

[Anonymous]

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@Anonymous wrote:
I applied for the PCR and it went to a LO for review. Came back denied due to "Limited Credit Experience".

Now my question Is, How does PenFed hold the HP from my PCR application? Is it held for a month or does it regenerate when the next month kicks in... Example: PCR app was on 4/21/18, do they keep that HP for the entire month then regenerates after 5/21 or???

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What was your AAOA? I am thinking of applying for this card also but my AAOA is less than 2 years with oldest being 5 years.

[Anonymous]

AAOA is 1 year.

I helped my friend with the same AAOA and he was approved with $3500 for a Promise Card.

If you applied or planning to apply for a card with PenFed, please let me know your status... TIA!

[Anonymous]

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@Anonymous wrote:
AAOA is 1 year.

I helped my friend with the same AAOA and he was approved with $3500 for a Promise Card.

If you applied or planning to apply for a card with PenFed, please let me know your status... TIA!

Thanks for the info Tia.

Currently EQ Fico 8 is 696 3 inq. 1/6  4/12 7/24 AOAA 1.5 years oldest 5 years

I just PFD my last med collection today and will be off my report in about a week so im looking for a good score jump and will apply then. Only thing left on my report is a 30 day late 3 years ago 

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[Anonymous]

I think you have 95% chance of getting a card from them. My friend had some baddies but still went through.

By the way, best of luck on your application.