Penfed Platinum Rewards application

[babygirl1256]

On Friday, 4/23/2021, I applied for the PenFed Platinum Rewards Visa Signature Card; my Equifax score is 790 and my credit utiization is 5%. When I applied, the agent told me that I would receive a response 24 - 48 hours . . . today is Wednesday, 4/28/2021 (Texas, CST) and no response as of yet. Hopefully, I will receive a response by Friday and if not, I won't try again and may stick with NFCU as they have been great to me.

[Anonymous]

Not sure if this is helpful, but are you aware of any hard inquiries in any of your credit files?  This might tell you if they are even carrying out the process?

[M_Smart007]

Hi There, Penfed is a little slow at times.

If you do not hear from them in 7 bus day from time of Application?

Would definatly give them a call.

Just my 2 cents.

[mystikal1]

You can also log in and check under applications to see updates

[babygirl1256]

Will do . . . thanks for the response!

[babygirl1256]

H there . . . yes, there is a hard pull from Equifax . . . thank you for responding!

[babygirl1256]

Thank you for responding . . . yes, I have been checking under the applications tab and it's still "in review" status.

[Anonymous]

I was instantly denied, so the situation is looking hopeful for you!

[babygirl1256]

Oh wow, sorry that you were denied . . . I figured if it was going to be approved it would have already been approved . . . so I have chalked it up as a hard pull for nothing. Thanks for responding. Take care.

[CreditMagic7]

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@Anonymous wrote:

I was instantly denied, so the situation is looking hopeful for you!

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I hate to break it to you, but it's not over for you by a long shot. And i don't mean waiting gobs of months either. Most of us received same results only to try again, in my case within 60 days, only to reel in an approval. They likely realize everybody wants to get in on the action and if yours falls short the first time, unlike some CU's they DO recognize persistence or interest in their product so much as you apply again later, but not too much later (whatever that timetable for them is) in my opinion you still stand a chance for approval. It happened to me exactly that way.

That being said 2 turn downs and yeah that would be throw in the towel time and explore other alternatives.

I just wanted to share this that a first denial doesn't neccesarily mean diddly. PenFed has a unique formula and i like to call it a combo of timing and patience.