Penfed Denied?

[alexak]

I just checked prequalification for the PenFed gold for the BT promo. I was denied but it also showed an amount of $7500 but was never asked for a credit limit. Would it be worth the recon?

I have an auto loan with them currently but have some baddies on my report from about 2.5 years ago (none with them). 

Eq 680

Tu 690

Ex 660

Util 33%- a bunch of $0 balance but a few with high balances (hence the BT dream)

I've seen some here say they've emailed but I can't find a "secured message" option in my account so would calling be the best bet? If so is there a specific number I should call? 

thanks in advance. 

[imtherealghost]

Hard pull? Did you actually apply or was this denial response just using the pre-qual tool they offer?

I don't have an answer to your question but was just curious in general.

[alexak]

it was from the pre-qual tool so no HP. 

I also just realized I'm in the wrong section and I don't know how to move it *facepalm*

[pizzadude]

Moved to CC Applications

[CubanCheapSkate]

My recent experience with PENFED is the soft pull decline will turn into a hard pull decline on a recon call. The rep will just see the decline (supposedly they can't see the reason or just can't disclose on the phone) and will advise they need to run a hard pull to retry. They run a hard pull and you'll still be declined but at least this time they will mail you a nice reason(s) to your address.

[youngandcreditwrthy]

Im very very optimistic and got most of my prime cards in the high 600s to low 700s even the amex 20k+ and boa 20k+ limits. Penfed will not approve you with scores in that range ime. Ive applied for penfed 2x with 750 scores and every time they denied for "debt pyramiding" I had prob 15 cards open, 20 closed.. and only one with a major balance.. util like 10%. penfed is crazy but they have amazing deals Good luck either way

[Horseshoez]

---

@youngandcreditwrthy wrote:

Im very very optimistic and got most of my prime cards in the high 600s to low 700s even the amex 20k+ and boa 20k+ limits. Penfed will not approve you with scores in that range ime. Ive applied for penfed 2x with 750 scores and every time they denied for "debt pyramiding" I had prob 15 cards open, 20 closed.. and only one with a major balance.. util like 10%. penfed is crazy but they have amazing deals Good luck either way

---

Hmmm, not sure I buy that; PenFed instantly approved me for a Platinum Rewards card with a $6,000 starting limit (my highest limit at the time) when my scores were 630(ish).

[SUPERSQUID]

---

@alexak wrote:

I just checked prequalification for the PenFed gold for the BT promo. I was denied but it also showed an amount of $7500 but was never asked for a credit limit. Would it be worth the recon?

I have an auto loan with them currently but have some baddies on my report from about 2.5 years ago (none with them). 

Eq 680

Tu 690

Ex 660

Util 33%- a bunch of $0 balance but a few with high balances (hence the BT dream)

I've seen some here say they've emailed but I can't find a "secured message" option in my account so would calling be the best bet? If so is there a specific number I should call? 

thanks in advance. 

---

Penfed approved me for a PCR 7500 sl back in 2021 with a 1 year old bk7 and scores in the 660's. a year later they gave me a cli to 10k with scores around 680.

Maybe they tightened up, I know they stopped offering bt's in December.

Their website has always been a disaster, i f it was me I would call. Perhaps you could get the phone number through an internet search, thats how I find those types of numbers, anyway, good luck.

[youngandcreditwrthy]

Really???  @Horseshoez  omg lucky duck.

like I said, they denied me for "debt pyramiding" which i dunno.. I had one card maxed out bc it was 0% and the rest were all paid off. 

I guess it all depends on the profile. you're the prime example of how being in the 600s with low inquiries and low new accounts can get approve vs someone with a higher score and many new accounts/inquiries. I prob hd 3-4 new accts and 10+ inquiries.

[Horseshoez]

---

@youngandcreditwrthy wrote:

Really???  @Horseshoez  omg lucky duck.

like I said, they denied me for "debt pyramiding" which i dunno.. I had one card maxed out bc it was 0% and the rest were all paid off. 

I guess it all depends on the profile. you're the prime example of how being in the 600s with low inquiries and low new accounts can get approve vs someone with a higher score and many new accounts/inquiries. I prob hd 3-4 new accts and 10+ inquiries.

---

Hmmm, well, my scores/reports were far squeaky clean when PenFed approved me:

• Chapter 13 discharged 14 months prior
• 18 hard pulled in the previous 12 months
• 3 new credit cards approved in the previous 12 months (one of which was already closed)
• The only mark in my favor was the fact my two open credit cards (limits of $5,000 and $3,000) had a balance of about $50 on one and $0 on the other