Re: PenFed Process?

Loquat · ‎01-12-2016

Congrats on your approval! And the folks at PenFed are fantastic in my opinion...

Anonymous · ‎01-12-2016

@Loquat wrote:
Congrats on your approval! And the folks at PenFed are fantastic in my opinion...

A gentleman called me this evening to verify that I had been approved and asked if I had already signed the document on-line. Told him I had, and he said I should be receiving my card in the next 7-10 days. He even wished me a Happy Birthday! Tomnorrow's my Birthday. Kudos to them for recognizing that.

I had no idea they'd approve me after reading how conservative they can be.

Thanks for the congrats.

Gmood1 · ‎01-12-2016

@Anonymous wrote:
@Loquat wrote:
Congrats on your approval! And the folks at PenFed are fantastic in my opinion...
A gentleman called me this evening to verify that I had been approved and asked if I had already signed the document on-line. Told him I had, and he said I should be receiving my card in the next 7-10 days. He even wished me a Happy Birthday! Tomnorrow's my Birthday. Kudos to them for recognizing that.

I had no idea they'd approve me after reading how conservative they can be.

Thanks for the congrats.

Congrats!! Yeah..they're not as conservative as some might have you to believe. With your profile..you didn't have anything to worry about any way. Definetly my favorite of favorites! Welcome to the Penfed family! And Happy Birthday!

NRB525 · ‎01-12-2016

@Anonymous wrote:
Just checked the PenFed site. I hit the "continue" button on the right, and it took me to a screen that showed all the green check marks ie: application, review, income, decision, and finalize. All had green check marks. I hit "finalize" and it took me to a page I needed to digitally sign. I signed it, and the page said "YOU HAVE BEEN APPROVED!!

Credit Limit $3,000!!!

I knew you people would know the process, and all of you were right in the money. Thanks a bunch!!

Congratulations!

Yes, this extra step was what I was going to suggest. Their process is much different from other apps, it's not exactly clear when you have actually submitted the app, it's more like slipping through a Get Smart set of doors, so the "Almost done" means there's more to do.

High Bal Jan 2009 $116k on $146k limits 80% Util.
Oct 2014 $46k on $127k 36% util EQ 722 TU 727 EX 727
April 2018 $18k on $344k 5% util EQ 806 TU 810 EX 812
Jan 2019 $7.6k on $360k EQ 832 TU 839 EX 831
March 2021 $33k on $312k EQ 796 TU 798 EX 801
May 2021 Paid all Installments and Mortgages, one new Mortgage EQ 761 TY 774 EX 777
April 2022 EQ=811 TU=807 EX=805 - TU VS 3.0 765

Anonymous · ‎01-12-2016

@Anonymous wrote:
Just checked the PenFed site. I hit the "continue" button on the right, and it took me to a screen that showed all the green check marks ie: application, review, income, decision, and finalize. All had green check marks. I hit "finalize" and it took me to a page I needed to digitally sign. I signed it, and the page said "YOU HAVE BEEN APPROVED!!

Credit Limit $3,000!!!

I knew you people would know the process, and all of you were right in the money. Thanks a bunch!!

Congrats!! Penfed is a very good CU. I haven't had any problems since being with them. So enjoy your new card and treat it well.

Anonymous · ‎01-13-2016

Congratulations! Welcome to the PenFed family! Great card. I agree to go ahead and apply for another. Good luck.

Loquat · ‎01-13-2016

I read also before applying about how conservative they were...and I decided to roll the dice anyway and got in with scores pretty close to those in my signature. Maybe it was just my lucky day....who knows. But again, congrats and Happy Birthday!!!

Anonymous · ‎01-13-2016

@CreditCuriousity wrote:
Sounds like an approval to me especially with the score they provided you with.. Something about the cost you pay for credit in the letter. Guess your account will show up online tomorrow.. I might consider going for another credit product if I were you as it is the same HP whether it is the rewards card or possibly a PLOC(Although a whole another beast to be approved for).

You can call up membership services and speak with a CSR and ask them if they need anything else or ask them if you were approved and limit etc.. Although it appears to be an approval from everything you stated.

I called PenFed today to see if I could PC to a Rewards card. Unfortunately, the information has already been transfered (making card) and couldn't PC. So, the CSR attempted to do a new app with the same HP from yesterday. It said "sent for loan review". The loan officer looked at it, and said that if I would go ahead and receive the Promise card, wait a few more months that he'd approve me for a Platinum Rewards Siganture Visa. Only becuase my history is still a little short. I got a Chase Slate in Nov15, a Quicksilver in Dec15, and now a PenFed Jan16.

He said the main reason for not giving me one now is that with the new cards, and the fact that the Platinum Rewards Sig Card has a starting CL of $5K, I needed just a little more history. Other than that he said my report was great.

Loquat · ‎01-13-2016

Awesome news. Treat them well and they'll reciprocate...

Shawndoe79 · ‎01-17-2016

Are they BK friendly?

PenFed Process?