@Anonymous wrote:
I was denied for PenFed promise visa and PenFed Amex , my denial letter said pyramiding debts & past/present credit obligations , my equifax score said 693 on the letter !
What that means is that you probably acquired too many other credit cards and/or loans recently before you applied to PenFed. PenFed is sensitive to the number of new accounts, and I was a little worried about that when I got my own Power Cash Rewards last July (though it was a pre-approved offer), since I'd gotten two other cards within the past month.
