PenFed - pending status

[PointsBonus]

So I cold app for a PenFed Rewards Thursday evening and it gave me a pending underwriting review status ... anyone know what this means ?

Last year I applied and got a INSTANT decline, now fast forward a year my score is in the mid 680 Equifax ( which they pulled ), and when I logged in, under products it only gave me an option to apply for this card ONLY.

As of now ... still “Underwriter review”

Any thoughts ?

Thank you all in advance .

[FinStar]

That's exactly what it means. The request is referred to UW for review.

Some applications can be approved or denied almost immediately while others will route into pending mode for further review which can also result in being declined or approved if you meet their UW criteria.

[Anonymous]

PenFed pulls FICO 09. I had slightly over a 700 EQ and they denied me after review. Recently opened accounts was probably a factor in their decision as well.

[PointsBonus]

Thank you !

I believe it be a decline for me then. I have a LOT OF RECENT open accounts 😊

[AverageJoesCredit]

I believe if one apps with limited accounts , or not alot of recent accounts, and not a ton of credit , one is more li ki ely to get more credit from Penfed. Seems they dont like those with tons of credit in many cases though ymmv as always

[PointsBonus]

Decline ..... TOO MANY RECENT 

[Anonymous]

Go figure! Screw PenFed! That is all i hear on the board since I got denied by these jokers! "Well, PenFed denied you so.."! So WHO CARES?! I was approved by other financial institutions. PenFed honestly is not all that! 

Thanks for the update though - I was pulling for you!  Better luck next time! 

[Ardecko]

How many new accounts in the last 6/12 months?