Pentagon Federal Credit Union Data Share

[Anonymous]

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@Anonymous wrote:
...  instant approved for a $10K ploc, might could have recieved more but didnt know if they offered a different limit or straight denial.

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Good question. Maybe we'll get an answer in this thread. Questions: HP on EQ for the PLOC, with SP for the checking acct? Got any DPs to share? 

And Congrats! on your approval.

[Anonymous]

@James_A

I only had savings and a $10K PowerCash Card back in May, I also applied for a PLOC and was approved for $5K (all I had asked for) but was required to provide POI. I let it lapse. Fast forward to last week I reapplied for the PLOC, asked for $10K and was instantly approved. Was prepared to provide POI but wasn’t asked this time.

It was an instant HP on EQ Fico9, score at the time was 734. 6 new accounts and about 20 inq’s before app’s. One 30 day late from 3 years ago, 16% Util.

I also applied for overdraft line of credit and was denied, as well as an auto refinance that was approved. All with the same hard pull.

Thanks!

[seattlecredit08]

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@Anonymous wrote:
@Anonymous

I only had savings and a $10K PowerCash Card back in May, I also applied for a PLOC and was approved for $5K (all I had asked for) but was required to provide POI. I let it lapse. Fast forward to last week I reapplied for the PLOC, asked for $10K and was instantly approved. Was prepared to provide POI but wasn’t asked this time.

It was an instant HP on EQ Fico9, score at the time was 734. 6 new accounts and about 20 inq’s before app’s. One 30 day late from 3 years ago, 16% Util.

I also applied for overdraft line of credit and was denied, as well as an auto refinance that was approved. All with the same hard pull.

Thanks!

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Question for thos with knowledge/experience with PenFed.

Is it common for PenFed to offer PLOC without POI?

Thanks!!

[Manonfire]

Applied for an Access America Checking account ($25 deposit) and Savings account ($30 deposit) and Voices for Americas troops ($17 donation) on 10/18. Instantly approved. I then applied for a Power Cash Rewards Card and that went to review. I called the next day 10/19 and was informed i was approved for a $5k limit and just needed to upload 2 most recent pay stubs. After doing that i called in the following day 10/20 to check the status and was told the upload was received and was approved for $10k at 17.99%. Its their highest rate but glad the limit was approved at $10k.

[stinastina]

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@Manonfire wrote:

Applied for an Access America Checking account ($25 deposit) and Savings account ($30 deposit) and Voices for Americas troops ($17 donation) on 10/18. Instantly approved. I then applied for a Power Cash Rewards Card and that went to review. I called the next day 10/19 and was informed i was approved for a $5k limit and just needed to upload 2 most recent pay stubs. After doing that i called in the following day 10/20 to check the status and was told the upload was received and was approved for $10k at 17.99%. Its their highest rate but glad the limit was approved at $10k.

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Congrats ! What is your eq9?

[Manonfire]

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@stinastina wrote:

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@Manonfire wrote:

Applied for an Access America Checking account ($25 deposit) and Savings account ($30 deposit) and Voices for Americas troops ($17 donation) on 10/18. Instantly approved. I then applied for a Power Cash Rewards Card and that went to review. I called the next day 10/19 and was informed i was approved for a $5k limit and just needed to upload 2 most recent pay stubs. After doing that i called in the following day 10/20 to check the status and was told the upload was received and was approved for $10k at 17.99%. Its their highest rate but glad the limit was approved at $10k.

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Congrats ! What is your eq9?

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Thanks and looks like the score is lower than i thought. My EQ 9 was 706 back in August. The score Penfed gave me was 699.

[FinStar]

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@seattlecredit08 wrote:

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@Anonymous wrote:
@Anonymous

I only had savings and a $10K PowerCash Card back in May, I also applied for a PLOC and was approved for $5K (all I had asked for) but was required to provide POI. I let it lapse. Fast forward to last week I reapplied for the PLOC, asked for $10K and was instantly approved. Was prepared to provide POI but wasn’t asked this time.

It was an instant HP on EQ Fico9, score at the time was 734. 6 new accounts and about 20 inq’s before app’s. One 30 day late from 3 years ago, 16% Util.

I also applied for overdraft line of credit and was denied, as well as an auto refinance that was approved. All with the same hard pull.

Thanks!

---

Question for thos with knowledge/experience with PenFed.

Is it common for PenFed to offer PLOC without POI?

Thanks!!

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It's all profile-specific.  When I applied for the PLOC, I was not asked for POI.  However, others have been asked to submit it, so YEMV. 

[Anonymous]

EQ 08 Fico: 775
Penfed Nextgen:

Instant or Review?: Review

POI: No

AAOA: 12
Derogs?: 0

Util: <10%

Total EQ Inquiries:

                Last 12 months: 0

                Last 6 months: 0
New Accounts in last 12 months: 1
                                 Last 6 months: 0

https://ficoforums.myfico.com/t5/Credit-Card-Approvals/PenFed-Power-Cash-Rewards-Approval/td-p/53928...

[Green456]

EQ 08 Fico: 784
Penfed Nextgen:

Instant or Review?: Denied

POI: No

AAOA: 6.8
Derogs?: 0

Util: 1%

Total EQ Inquiries:

                Last 12 months: 2

                Last 6 months: 2
New Accounts in last 12 months: 4
                                 Last 6 months: 4

[rbentley]

It must be the 4 new accounts in the past 6 months that caused the denial, right?