Both of my PenFed applications in the past have gone to manual review. It's recommended you wait at least 48 hours after application before calling, but if you wait at least 24 hours and get on the phone with a rep who cares about your app, they'll place you on hold while contacting the underwriting department themselves to finalize the review of your application.
I know that a previous post says calling in shows "desperation" and while that may be the case, I called in right at the 24 hour mark and received approval for my current PCR card with a 35k credit line...not to mention that I also have a blemished profile with a BK from August 2017.
All that to say, as long as DTI, etc are well in line and don't have much in the way of recently opened credit cards or a ton of other high credit line cards with a relatively low income in relation...then I wouldn't worry and you should have a decent approval any time now.
Best of luck!
@Anonymous wrote:Hi all, i received a pre-approval letter for Penfed Power Cash Rewards Signature card. I applied online as i am a member already. My EQ score is 765. I know they pulled EQ as i got the inquiry alert, i did not get from other two bureaus. I was expecting a decision online, but surprisingly it said underwriter will review the application. Currently it is in review stage. Is this normal? or is this a sign of rejection? Has anyone got instant approval decision?
Thank you for reading my post and answering!!!
My scores are significantly below yours and I got an instant approval for their Platinum Rewards card. Quite honestly I was surprised.
