Penfed asking for paystubs - myFICO® Forums - 6157499

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Hi all. Asking for some Penfed insight. I apped a few days ago, went to pending. I called in today, rep said they needed paystubs. Am I to assume it's a likely approval? Or is this just typical and can go either way?

Eq9 - 726

Income - 92,500

1 chargeoff due to fall off within a few months, 3x 30 day lates from last year

AMEX Gold | Purdue FCU $20,000 | FNBO Evergreen $15,000 | TFCU Plat Visa $15,000 | PenFed Platinum Rewards $15,000 | PenFed Pathfinder $15,000 | Citizen's Bank Cash Back+ $15,000 | Synchrony Premier MC $10,000 | SG Visa $10,000 | NFCU MoreRewards $7,000 | NFCU cashRewards $17,000 | Discover IT $6,000 | Capital One BuyPower $950 | AMEX BCP $5,000 | AMEX Amazon Prime Business $3,000

B&H Payboo Card $15,000 | Amazon Prime Card $10,000 | PC Richard Card $15,000 | Target RedCard $2,000 | Walmart Store Card $1,400 | Shell Gas Card $1,200 | Overstock Store Card $7,000 | Kohl's Store Card $3,000

Spring Cleaning:
C̶a̶p̶i̶t̶a̶l̶ ̶O̶n̶e̶ ̶Q̶u̶i̶c̶k̶S̶i̶l̶v̶e̶r̶ ̶$̶1̶,̶0̶0̶0̶ | C̶r̶e̶d̶i̶t̶ ̶O̶n̶e̶ ̶V̶i̶s̶a̶ ̶$̶1̶,̶2̶0̶0̶ | M̶e̶r̶r̶i̶c̶k̶ ̶B̶a̶n̶k̶ ̶$̶2̶,̶7̶0̶0̶ | M̶a̶r̶v̶e̶l̶ ̶M̶a̶s̶t̶e̶r̶c̶a̶r̶d̶ ̶$̶1̶,̶̶2̶0̶0̶ | C̶o̶m̶e̶n̶i̶t̶y̶ ̶M̶a̶s̶t̶e̶r̶C̶a̶r̶d̶ ̶$̶1̶,̶1̶8̶0̶

Message 1 of 15

14 REPLIES 14

I don't know about PenFed in particular, but from my small experience in CU lending I would say it isn't indicitive either way. IV is just IV, and they may need it for every app regardless.

Disco It CB 17.4k

Chase Amazon 5k

USB State Farm GN 12k

Message 2 of 15

@rostrow416 wrote:
Hi all. Asking for some Penfed insight. I apped a few days ago, went to pending. I called in today, rep said they needed paystubs. Am I to assume it's a likely approval? Or is this just typical and can go either way?

Eq9 - 726
Income - 92,500
1 chargeoff due to fall off within a few months, 3x 30 day lates from last year

Every time penfed has requested IV docs from me it's resulted in approval.

Message 3 of 15

My experience with banking with Penfed Cu if it states "Conditionally approved" upon documents received then yes it's an approval! Goodluck on your app.

Message 4 of 15

Thanks all. After docs were uploaded, I called to confirm the received, the rep did say my app was conditionally approved, but it would take 24-48 hours before they review my uploads.

AMEX Gold | Purdue FCU $20,000 | FNBO Evergreen $15,000 | TFCU Plat Visa $15,000 | PenFed Platinum Rewards $15,000 | PenFed Pathfinder $15,000 | Citizen's Bank Cash Back+ $15,000 | Synchrony Premier MC $10,000 | SG Visa $10,000 | NFCU MoreRewards $7,000 | NFCU cashRewards $17,000 | Discover IT $6,000 | Capital One BuyPower $950 | AMEX BCP $5,000 | AMEX Amazon Prime Business $3,000

B&H Payboo Card $15,000 | Amazon Prime Card $10,000 | PC Richard Card $15,000 | Target RedCard $2,000 | Walmart Store Card $1,400 | Shell Gas Card $1,200 | Overstock Store Card $7,000 | Kohl's Store Card $3,000

Spring Cleaning:
C̶a̶p̶i̶t̶a̶l̶ ̶O̶n̶e̶ ̶Q̶u̶i̶c̶k̶S̶i̶l̶v̶e̶r̶ ̶$̶1̶,̶0̶0̶0̶ | C̶r̶e̶d̶i̶t̶ ̶O̶n̶e̶ ̶V̶i̶s̶a̶ ̶$̶1̶,̶2̶0̶0̶ | M̶e̶r̶r̶i̶c̶k̶ ̶B̶a̶n̶k̶ ̶$̶2̶,̶7̶0̶0̶ | M̶a̶r̶v̶e̶l̶ ̶M̶a̶s̶t̶e̶r̶c̶a̶r̶d̶ ̶$̶1̶,̶̶2̶0̶0̶ | C̶o̶m̶e̶n̶i̶t̶y̶ ̶M̶a̶s̶t̶e̶r̶C̶a̶r̶d̶ ̶$̶1̶,̶1̶8̶0̶

Message 5 of 15

Fingers crossed for an approval and hopefully it comes sooner rather than later.

Message 6 of 15

If your income matches what you put in the application...then I say Go For It! Best of luck...

Message 7 of 15

I'm guessing if they are asking for paystubs, as long as you provide matching supporting DOC's.

Then you are probably .. good to go!

Message 8 of 15

Good luck on your application! May the odds be ever in your favor.

Message 9 of 15

Good luck!! My experiences with CU, when asking for POI, it's to decide your limit.

Message 10 of 15