PenFed Power Cash Rewards Chances?

[Anonymous]

First time I applied for that was back in 10/14/2017 but got denied due to a lot of inquiries on my EQ report and short credit history (6 months).  Just wondering if I apply now, would I get approved?  I got big purchase and would like to use its 0% APR for 12 months BT.  Besides that, it's 2% general purchases.

EQ FICO Score 8: 775, FICO Score 9: 791

Credit Use: <10%, 0% on two of my CC

Total CC: 5 (w/ AU), 3 (w/o AU), +1 since SelfLender has not showed up yet.

AAoA: 17 months (w/ AU), 12 months (w/o AU)

EQ Inquiries (6 mo/12 mo/24 mo):  0/0/4 (3 of the IQ will fall off next year at May 16)

Oldest Account: 44 months (w/ AU), 18 months (w/o AU).

Accounts in 6 months: 1 (2 w/ AU)

                    12 months: 2 (4 w/ AU)

Total CL: $12,300 (w/ AU), $6,100 (w/o AU).

No negatives at all.

Annual Income: $15,000

If I get denied, what are my chances for recon?

Products I currently use with PenFed:  7 yr CD since 11/23/2017 ($2000) and 1 yr CD since 10/16/2018 ($4000). 

Hoping I can apply in the next 2 days since my second to oldest CC will turn 1 year.

[FinStar]

On the surface, it would appear as though you'd have a decent chance given it's been a year since your last attempt. Which specific product are you applying for?

So, the only way to know for sure is when you submit your application.

Let us know the outcome.

[hawkins]

I think maybe you are missing a 0 in your income? If not ok but PenFed is known to be income sensitive. With your scores I would definitely say you are more then there. I would say just go for it.

[Anonymous]

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@FinStar wrote:
On the surface, it would appear as though you'd have a decent chance given it's been a year since your last attempt. Which specific product are you applying for?

So, the only way to know for sure is when you submit your application.

Let us know the outcome.

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Its PenFed Power Cash Rewards Visa, don't really want to apply if my chances of getting denied is high on the recon part.

[Anonymous]

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@hawkins wrote:
I think maybe you are missing a 0 in your income? If not ok but PenFed is known to be income sensitive. With your scores I would definitely say you are more then there. I would say just go for it.

No I'm not missing 0... its really 15k, typical for students.

Edit: wait got an idea, can I even use household income for this? I still live with my parents anyway.

[CreditCuriosity]

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@Anonymous wrote:
@&nbsp;wrote:
I think maybe you are missing a 0 in your income? If not ok but PenFed is known to be income sensitive. With your scores I would definitely say you are more then there. I would say just go for it.

No I'm not missing 0... its really 15k, typical for students.

Edit: wait got an idea, can I even use household income for this? I still live with my parents anyway.

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Penfed only allows YOUR income not household.. 15k will be a tough sell to PenFed in my honest opinion.  If you want a 2% card with said income you listed I would go for something like PayPal 2% card.

CD's might help you a bit, but PenFed is somewhat income driven.

[AverageJoesCredit]

I agree with CC, Penfed cares more about your money then credit score. Better lenders out there here imo but the PPMC is actually a really good simple to use card.

[Anonymous]

Recon approval: https://ficoforums.myfico.com/t5/Credit-Card-Approvals/PenFed-Power-Cash-Rewards-Approval/td-p/53928...