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PenFed denial

BfromAZ
New Contributor

PenFed denial

As I read with drooling envy all the glee acceptance posts on PenFed I decided to take the Pen Plunge. At first I was only going to sign up for the membership, but I read they did HP and that HP would be used across any/all products for 90 days. So I applied for their top tier card. Was denied. Called and spoke to member services, who recommended I apply for the lower tier card. No new pull, still denied. Called to recon today, spoke to manager, who spoke to senior loan officer. Due to 2 c/offs, even though paid, they couldn't/wouldn't consider my app. Think my PenFed Eq was 629, my FICO EQ is 690. Lesson learned. No love lost.

Amex Blue and ED - Chase Amazon Prime - Discover - Capital One - PenFed Auto, Rewards, PLOC - Quicken Loans Mortgage - US Bank Cash Plus - Men's Warehouse - Trek-Synchrony Bank - Barclay Cash -
Experian FICO 819 - TransUnion 816 - EQ 824
Started 3 years ago in mid 500s - Goal to hit 800s by Fall 2017 (Left that goal there even though I hit it!!)
Message 1 of 16
15 REPLIES 15
datrucking210
Established Contributor

Re: PenFed denial


@BfromAZ wrote:

As I read with drooling envy all the glee acceptance posts on PenFed I decided to take the Pen Plunge. At first I was only going to sign up for the membership, but I read they did HP and that HP would be used across any/all products for 90 days. So I applied for their top tier card. Was denied. Called and spoke to member services, who recommended I apply for the lower tier card. No new pull, still denied. Called to recon today, spoke to manager, who spoke to senior loan officer. Due to 2 c/offs, even though paid, they couldn't/wouldn't consider my app. Think my PenFed Eq was 629, my FICO EQ is 690. Lesson learned. No love lost.


Sorry for your denial. I would try it again in a couple months down the road and if it's still denied try a recon again but send them a secure message and explain in detail why they should take a second look. I was denied the first time, both on the original app and recon, last November but it worked for me the second time I tried doing a recon this past tuesday..

Mid 500's Spring 2014 As of 06/07/16 EQ-700^ TU-738^ EX-697v In the Garden 5/28/16! Goals 750 across the board end of 2016
AU:
Message 2 of 16
mitchblue
Valued Contributor

Re: PenFed denial

I'm curious how many Inquires you had? It helps with Penfed if you have few, and not many recent.

Amex Green • Amex BCP • Amex HH (Aspire®) • Barclay Rewards • Chase World of Hyatt • Chase FU • Capital One Quicksilver • Discover it • PENFED Platinum Rewards • Marvel MC • Amazon Store • Kohls Store • CL $109,330 • Car Loan (PENFED) 1.99% PAID

FICO® 8 Scores 805-812 FICO® 9 Equifax 822
Message 3 of 16
BfromAZ
New Contributor

Re: PenFed denial

7 in a year and a half, this made 8.

Amex Blue and ED - Chase Amazon Prime - Discover - Capital One - PenFed Auto, Rewards, PLOC - Quicken Loans Mortgage - US Bank Cash Plus - Men's Warehouse - Trek-Synchrony Bank - Barclay Cash -
Experian FICO 819 - TransUnion 816 - EQ 824
Started 3 years ago in mid 500s - Goal to hit 800s by Fall 2017 (Left that goal there even though I hit it!!)
Message 4 of 16
westcoastpeach1965
New Contributor

Re: PenFed denial


@mitchblue wrote:

I'm curious how many Inquires you had? It helps with Penfed if you have few, and not many recent.


Not sure I agree with this as I had about 10 within 2 months at that time and got their top two cards.

Scores 4/22/16: EQ-637, TU-624, EX-643. As of 6/12/16: EQ-674, TU-681, EX-670. GOAL: 800 across the board by end of summer 2018. Amex Platinum; Alliant Visa Platinum Awards ($7.5K); PenFed Platinum Rewards Visa ($6.5K); PenFed Travel Rewards Amex ($6.5K); Westgate Rewards MC ($5K); Amazon Rewards Visa ($2.5K); Virgin America Signature Visa ($2.3K); Williams-Sonoma Visa ($4K); WF Rewards Visa ($2K); Discover ($1.3K); Various Store Cards ($30K)
Message 5 of 16
mitchblue
Valued Contributor

Re: PenFed denial


@westcoastpeach1965 wrote:

@mitchblue wrote:

I'm curious how many Inquires you had? It helps with Penfed if you have few, and not many recent.


Not sure I agree with this as I had about 10 within 2 months at that time and got their top two cards.


YMMV kind of thing. Not set in stone plus the OP's score aren't rock solid so they might have more of an effect. But yours are similar so what do I know.. Smiley Happy

Amex Green • Amex BCP • Amex HH (Aspire®) • Barclay Rewards • Chase World of Hyatt • Chase FU • Capital One Quicksilver • Discover it • PENFED Platinum Rewards • Marvel MC • Amazon Store • Kohls Store • CL $109,330 • Car Loan (PENFED) 1.99% PAID

FICO® 8 Scores 805-812 FICO® 9 Equifax 822
Message 6 of 16
westcoastpeach1965
New Contributor

Re: PenFed denial


@mitchblue wrote:

@westcoastpeach1965 wrote:

@mitchblue wrote:

I'm curious how many Inquires you had? It helps with Penfed if you have few, and not many recent.


Not sure I agree with this as I had about 10 within 2 months at that time and got their top two cards.


YMMV kind of thing. Not set in stone plus the OP's score aren't rock solid so they might have more of an effect. But yours are similar so what do I know.. Smiley Happy


My scores might not be "rock solid" yet, but I did manage to get two nice PenFed cards, so apparently, that's not all they're looking at.

Scores 4/22/16: EQ-637, TU-624, EX-643. As of 6/12/16: EQ-674, TU-681, EX-670. GOAL: 800 across the board by end of summer 2018. Amex Platinum; Alliant Visa Platinum Awards ($7.5K); PenFed Platinum Rewards Visa ($6.5K); PenFed Travel Rewards Amex ($6.5K); Westgate Rewards MC ($5K); Amazon Rewards Visa ($2.5K); Virgin America Signature Visa ($2.3K); Williams-Sonoma Visa ($4K); WF Rewards Visa ($2K); Discover ($1.3K); Various Store Cards ($30K)
Message 7 of 16
KittenAttack
Established Contributor

Re: PenFed denial

^ True dat. I have some nice scores but not a lot of history. They barely gave me entrance. My promise card started at 2k. 

EQ 777 | TU 777 | EX 780


AMEX EDP 32k | AMEX BCP 8.5k | CSP 13.5k | FRDM 14k | DIT 21k | Citi DC 14k | Penfed Promise 5k | Penfed PLOC 5k | BoA 2.5k | Alliant 5yr Secured Loan $500 | 100k in available credit
Message 8 of 16
SouthJamaica
Super Contributor

Re: PenFed denial


@BfromAZ wrote:

As I read with drooling envy all the glee acceptance posts on PenFed I decided to take the Pen Plunge. At first I was only going to sign up for the membership, but I read they did HP and that HP would be used across any/all products for 90 days. So I applied for their top tier card. Was denied. Called and spoke to member services, who recommended I apply for the lower tier card. No new pull, still denied. Called to recon today, spoke to manager, who spoke to senior loan officer. Due to 2 c/offs, even though paid, they couldn't/wouldn't consider my app. Think my PenFed Eq was 629, my FICO EQ is 690. Lesson learned. No love lost.


There are lots of other fish in the sea Smiley Happy


Total revolving limits 663000 (585000 reporting) FICO 8: EQ 716 TU 742 EX 713

Message 9 of 16
westcoastpeach1965
New Contributor

Re: PenFed denial


@KittenAttack wrote:

^ True dat. I have some nice scores but not a lot of history. They barely gave me entrance. My promise card started at 2k. 


You have some other really nice cards though.  I hope to have scores like yours within 6-8 months of aging.  I have  an excellent mix, so maybe that was what they liked.  I also don't have a single late, so that definitely helps.  I'm really not sure what all the parameters are for PenFed, but as the above poster stated, there are other fish in the sea!

Scores 4/22/16: EQ-637, TU-624, EX-643. As of 6/12/16: EQ-674, TU-681, EX-670. GOAL: 800 across the board by end of summer 2018. Amex Platinum; Alliant Visa Platinum Awards ($7.5K); PenFed Platinum Rewards Visa ($6.5K); PenFed Travel Rewards Amex ($6.5K); Westgate Rewards MC ($5K); Amazon Rewards Visa ($2.5K); Virgin America Signature Visa ($2.3K); Williams-Sonoma Visa ($4K); WF Rewards Visa ($2K); Discover ($1.3K); Various Store Cards ($30K)
Message 10 of 16
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