Pentagon Federal Credit Union Data Share

[AverageJoesCredit]

Yes, that happened to me @Anonymous, when i got my only cli. My apr should have been lowered as it stated but then they said no you have to apply for a new card. Crazy. When i was paying my loan at 17.99% , i paid it satisfactory on time and early but they wouldnt even approve me even at at such a bad rate.l Lolwut Penfed

[rbentley]

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@AverageJoesCredit wrote:
Yes, that happened to me @Anonymous, when i got my only cli. My apr should have been lowered as it stated but then they said no you have to apply for a new card. Crazy. When i was paying my loan at 17.99% , i paid it satisfactory on time and early but they wouldnt even approve me even at at such a bad rate.l Lolwut Penfed

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Ditto 2x. Make me the thrid to resport this.  PenFed gave me a significant SP CLI and their CSR told me I would also  a get a 3 point APR reduction.  No APR reduction ever occured and when I wrote them they apologized but said it was error by CSR.  I was so happy with the CLI that I did not push the issue.  I would have taken the CLI even without the APR reduction so I didn't feel like I was decieved or prejudiced.

[Anonymous]

I’m not going to imply that PenFed doesn’t apply the same lending policies across all of its customers since I don’t know the profiles of each person that receives an exception. I’m not implying it. There are compensating factors that can be taken into consideration. It’s a game of duck duck goose. You either get an awesome LO/underwriter or you don’t. And when you don’t it leads to a really bad experience where no exceptions are granted. I’m still not implying anything. 🤔

[Anonymous]

Sounds like I dodged a bullet with my PenFed denial

[difringe]

Just wanted to add a couple of data points...

Was denied by PenFed for the Power Cash Rewards card last month;

Score was 709

AAoA at the time was 9yrs

AoYA was 3 years 6 months

AoOA was 13yrs

Utilization at 1%

1 other credit card, no missed payments on that

12 student loans, some 60/90 day lates from over a year ago but less than 2 years ago

What the CSR told me (from the loan officer) is that because I have 60 day lates within the last 2 years, they couldn't approve. So, just for anyone who's looking for a new card to build their credit, if you have 60 (or more) day lates within the last 2 years, you're likely going to be denied.

[AverageJoesCredit]

Duck Duck Goose i like it. Sums up Penfed nicely

[Anonymous]

So i have a mixed bag with penfed now..  They have given me a few things that i didnt think i should have gotten at a time when i didnt think i could have..   but now i'm in a better place, they closed the door.   My shut you up 500 CLI that was half awesome beacuse it said my APR would be 11.74 was a lie.  They don't do that even tho they sent me an emial with those numbers on it. I feel like the credit card APR's are very much done in bad faith.   It's one of my oldest cards, and a 2% everything card, so i dont see me closing it, but i have a very hard time justifying using it after the APR incident...

At least there is Navy.. 

[Anonymous]

Product approved and Limit: Pathfinder Rewards $12k
EQ 08 Fico: 818 credit karma
Penfed Nextgen: n/a

Instant or Review: 24-48 forgot to lift EQ! Called & approved for checking account and card

POI: None

AAOA: 3.2 yrs
Derogs?: 0

Util: 1%

Total EQ Inquiries: 0

Last 12 months: 0

Last 6 months: 0

New Accounts in last 12 months: 2
Last 6 months: 0

[Pikaboo-icu]

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@Anonymous wrote:
Product approved and Limit: Pathfinder Rewards $12k
EQ 08 Fico: 818 credit karma
Penfed Nextgen: n/a

Instant or Review: 24-48 forgot to lift EQ! Called & approved for checking account and card

POI: None

AAOA: 3.2 yrs
Derogs?: 0

Util: 1%

Total EQ Inquiries: 0

Last 12 months: 0

Last 6 months: 0

New Accounts in last 12 months: 2
Last 6 months: 0

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Congrats!!

Welcome to the PenFed Family.. 

[Anonymous]

Product(s) approved and Limit: 2/1/19 Power Cash $11.5k, Pathfinder $4k, personal loan $2100
EQ 08 Fico: 683
Penfed Nextgen: 679

Instant or Review?: Instant

POI?(If yes, what type of proof of income): No

AAOA: 8 months
Derogs?: None

Util: 23%

Total EQ Inquiries:

                Last 12 months: 13 (I moved between states, so I have inqs from utilities, cable, local credit union, etc.)

                Last 6 months: 5
New Accounts in last 12 months: 8
                                 Last 6 months: 4

Income (I don't mind sharing): $64,000

I joined PenFed and opened a savings and checking back in June of last year. I was just then beginning to build my credit... I had lived cash-only for more than 10 years, so I was starting from 000. Prior to these approvals, a $1500 Amazon card was my highest limit. Something told me to pull the trigger on Friday evening and I about fell out of my chair when that $11,500 popped up on my screen -- even when I previously had excellent credit, I never managed to break into five figure limits. Amazing.