@ThomasJNewton I called them, and the lady told me it was because of too many inquiries in the past 12 months and too many accounts opened within the past 12 months. I told her how I felt about the misleading pre-approval because a soft pull shows the same information a hard pull does. The difference is that a hard pull is designed to show lenders that the person is seeking credit. She said she understood and agreed. Although she said she loves this new tool as it's something PenFed did not have before, she nonetheless offers no solution. I did email info@hq.penfed.org and expressed my dissatisfaction with this "new tool." They emailed me back and knowledge my email and asked if I wanted to escalate the issue; I told them yes.
I must point out how different BCU and Suncoast CU are from PenFed. BCU gave me a 7.5k Cash Rewards card 6 months ago and a 5k personal line of credit. Recently their Travel Rewards, with 5k, plus a bump to 10k on the Cash Rewards card, and Suncoast increased my limit to 10k from 500.00 on their Platinum Rewards card less than two weeks ago.
Still, PenFed can't honor their pre-approval or come back with a recon, even if it was a 5k or something. I'm considering closing my accounts there; they are at a point that serves me no purpose anyway. BCU has become my second main financial institution.
Credit Cards
Amazon Prime Store Card: $10,000 | Apple Card MC: $3,500 | Best Buy Visa: $3,000 | BCU Cash Rewards Visa Signature: $25,000 | BCU Travel Rewards Visa Signature: $10,000 | Bread Cashback AmEx: $14,500 | Bread Rewards AmEx: $7,650 | Capital One Kohls Visa Signature: $4,000 | Capital One Quicksilver WEMC: $3,000 | Capital One SavorOne WEMC: $17,750 | Capital One VentureOne WEMC: $3,100 | Express Credit Card: $4,050 | Famous Footwear Credit Card: $650 | FNBO Platinum Visa: $950 | Helzberg Diamonds Card: $3,000 | IKEA Projekt Credit Card: $6,100 | Macy’s Amex $1,500 | PayPal Cashback WMC: $20,000 | Sam’s Club Plus WEMC: $20,000 | Suncoast CU Rewards Platinum Visa: $10,000 | Target RedCard: $1,200 | Toyota Rewards Credit Card: $10,000 | Toyota Rewards Visa Signature: $7,500 | Truist Enjoy Cash Visa Signature: $8,000 | US Bank Cash+ Secured Visa: $500 | US Bank Platinum Secured Visa: $500 | WF One Key+ WEMC: $9,000
BCU Unsecured LOC 5k | PenFed OD LOC 300
BCU Auto Loan $19,194.00
Rebuilding since June 2021.
