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Product approved: Power Cash Rewards
limit: $3500
EQ 08 Fico: 680
Penfed Nextgen:
Instant or Review?:Instant-Conditional
POI? Yes, last 2 paystubs
AAOA: 5y4m
Derogs?: BK7 discharged 12/2019
Util: 24%
Total EQ Inquiries: 5
Last 12 months: 5
Last 6 months: 2
New Accounts in last 12 months: 6
Last 6 months: 2
EQ 08 Fico: 654
Penfed Nextgen: Unknown
Instant or Review?: Instant
POI?(If yes, what type of proof of income) No
AAOA: 2YRS 2Months
Derogs?: (If you have a BK please list type and discharge date!): BK7 discharged July 2020
Util: 16%
Total EQ Inquiries: 10
Last 12 months: 9
Last 6 months: 9
New Accounts in last 12 months: 5
Last 6 months: 5
DECLINED! This will be my 2nd try with PenFed. Opened a Saving and Checking account with them Oct 26th Was declined for the PCR then, have had a small DD going into the Checking since then. App'd for the PCR, Instant Decline - Received the Declined email after the application spinner resulted in a 500 etc Error
EQ 08 Fico:655
Penfed Nextgen: Unknown
Instant or Review?: Instant
POI?(If yes, what type of proof of income) N/A
AAOA: 4 YRS 4 Months
Derogs?: (If you have a BK please list type and discharge date!): BK7 discharged Sep 2019
Util: 1%
Total EQ Inquiries: 6
Last 12 months: 6
Last 6 months: 3 all Penfed
New Accounts in last 12 months: 4
Last 6 months: 3
This is just from my perspective. PenFed is more sensitive to new accounts opened in the last 12 months. You might give it another try once all accounts have been reported with payments for 12+ months.
Best of luck!
Product approved: Power Cash Rewards
limit: $3500
EQ 08 Fico: 671
Penfed Nextgen:
Instant or Review?:Review
POI? No
AAOA: 4yrs 5 mos
Derogs?: CO 3 years ago, Late payment 1 yr 6 mos ago
Total EQ Inquiries: 10
Last 12 months: 10
Last 6 months: 6
New Accounts in last 12 months: 3
Last 6 months: 3
Got BT checks in the mail from PF today usable against my PCR with 2 different offers to choose from, pick 1 or the other. Promo is valid through 3/31/21.
promo #1 - 0% APR 12 months 3% BT fee
promo #2 - 0.99% APR 18 months 3% BT fee
but is also available at penfed.org/BalanceTransfer
The phrasing does state "available to a limited amount of PenFed cardholders" but no related context that states or infers how "limited" the offer is.
Hi All! Are there any updated data points on ideally how long after opening an account someone should apply for a credit card with PenFed?
Thanks!
@credit8502020 wrote:Hi All! Are there any updated data points on ideally how long after opening an account someone should apply for a credit card with PenFed?
Thanks!
Probably not, because it's really YMMV.
In my case, I opened my checking/savings accounts 1 month before my BK7 was discharged. I had no plans to apply before 24 months post BK7 until I noticed DPs from others indicating they were loosening up with approvals. After a big approval with NFCU, I went and applied for the PCR card a few days afterward; 15 months post discharge and 16 months since account openings. I was approved for a SL of 6.5k.
I did not have the score everyone was saying was the benchmark approval score, and I didn't have any preaaprovals for either NFCU or Penfed. I had 5 account openings in the 12 months prior to approval, so credit seeking didn't impact me.
@WavysMommy wrote:
@credit8502020 wrote:Hi All! Are there any updated data points on ideally how long after opening an account someone should apply for a credit card with PenFed?
Thanks!
Probably not, because it's really YMMV.
In my case, I opened my checking/savings accounts 1 month before my BK7 was discharged. I had no plans to apply before 24 months post BK7 until I noticed DPs from others indicating they were loosening up with approvals. After a big approval with NFCU, I went and applied for the PCR card a few days afterward; 15 months post discharge and 16 months since account openings. I was approved for a SL of 6.5k.
I did not have the score everyone was saying was the benchmark approval score, and I didn't have any preaaprovals for either NFCU or Penfed. I had 5 account openings in the 12 months prior to approval, so credit seeking didn't impact me.
@WavysMommy Thank you for your feedback.
I bite the bullet and opened a PenFed checking and savings account tonight- I know it would be easier to ger products if you have money in accounts in PenFed. I also know that credit unions tend to have valuable credit card and loan offers for members.
Any information about PenFed CC products and CC limits/rewards? All information welcome!