Pen Fed ~ 23 minutes & 74 hours ~ YMMV
Product approved and Limit: Promise Visa $2.0 k 18% APR
EQ 08 Fico: 563
Penfed Nextgen: 622
Instant or Review: Instant Denial, Review took 23 minutes to recon on phone
POI: NONE
AOA: was 10 year, 4 months
Derogs?: Chap 13 discharged: May 3, 2016 (Paid in Full)
Util: was Zero
Total EQ Inquiries: 2, both PenFed
Last 12 months: 2
Last 6 months: 2 (original HP was 60 days ago, I demanded a new HP for Recon)
New Accounts in last 12 months: 1
Last 6 months: 1
Applied early Monday evening for Pen Fed Promise Visa.
* Results: Instant Denial.
Wrote recon letter per tussking's previous post, submitted it via secure message.
40 minutes pass, I call, speak with a very nice CSR. Chatted her up as I told her I wrote & submitted a recon letter. Stated I addressed all 3 reasons why denied, stressed as a Veteran I wanted to have a long term relationship with Pen Fed. As a compromise, I was willing to put up all Pen Fed savings account for a Secured credit card. Asked to speak to a Loan Officer, CSR said if I would hold for a bit, she would take care of everything.
With a phone call lasting a total of 23 minutes, my Recon was approved with a new HP, and an unsecured Pen Fed Promise Visa of $2,000.00 at 18% APR. I said I would PIF, CSR said she knew I would. CSR also made a specific point to pass on the Loan Officer's comments of my "Very Well Written recon letter". I asked to have the CC sent over night. The expectations I was given, 3 days to make card, then 2 days delivery by Postal Mail.
After wasting time tonight after work both shopping and doing chores, there is a FedEx sticker on the front door. Within 73 hours of Phone Recon with PenFed I had possession of my first post BK credit card less than two months post BK Ch 13. And in less than 74 hours I had literally made my first purchase, flower seeds at Home Depot for my garden to occupy my mind and time going forward.
Thanks Baller4life & Everyone for posting information on this site & Thread!
03/29/16 Ch 13 Paid in Full
05/03/16 Ch 13 Discharged
06/23/16 First cc, post Ch 13 Bk - Pen Fed
03/17/16 Fico 8 Scores: EQ 546, TU 501, EX 548
05/14/16 Fico 8 Scores: EQ 563, TU 523, EX 548
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