PenFed pending after instant approval

[IaBoy62]

Applied yesterday for Platinum Rewards and instant approved for $15,000 at 16.99%. EQ Fico 9 was 750.

I signed a security interest form and they sent me the "price you pay for credit" form and this morning the website States pending with a conditional approval. A customer service rep said everything was good that I would be getting the card in a whole bunch of stuff in the mail but I won't be completely relaxed until I have the card in my hand.

[FinStar]

You should be ok. If you've already provided everything they needed, you're good.  This is normal @IaBoy62.

[RASULL12]

I can confirm from recent experience that this is normal. Some glitch with the website. 

[Loquat]

If everything is in order you should see the new account populate in your online profile in about 24 hours. May be a slight delay if the approval came on the weekend.

Congrats on what I’m hoping is a solid approval for you.

[practical1]

Congrats!

May I ask:  How long have you been a PenFed Member?  How much do you have on deposit with them (if any)?  Did they ask for income verification?

I've just opened a savings account there, with the intention of applying for one of their credit cards -- any data points would be helpful to inform my decision as to when to pull the trigger.

Thanks.

[IaBoy62]

Thanks for the reassurance! I was pumped at instant approval!

[IaBoy62]

@practical1 joined in Jan 2020 after bk discharge with savings, checking,$500 CLOC, $500 PLOC.

Got new car loan in Feb 2020 which I payed off in 18 months.

Got PCR VISA in May 2021 with $10,000 cl.

I keep $100 in checking and $1000 in high yield savings. 

Hope that helps!

[Rebuild2019]

Congratulations on what I hope to be your approval.

[Anonymous]

Congrats for your PenFed card. I am in similar situation right now. I just applied about an hour ago but still not sure if it is an actual approval eventhough the message says I am being approved. Not sure until I received the card. Congrats and I am glad that it is being resolved.

[practical1]

@IaBoy62 

Thank you.  This data is helpful.  Appreciate your thoughtfulness and best of luck.