Pentagon Federal Credit Union Data Share

[Horseshoez]

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@SweetCreditObsession wrote:

@Anonymous - definitely pull your reports (From Annualcreditreport.com AND directly from the agency that they used to check your score) because it's possible you're a victim of ID theft and don't know it. Something similar happened to a relative of mine recently

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Just to level set, there is no such a thing as a hard pull from annualcreditreport.com, they just look at the three credit bureaus and report what they see.  In this case you only had one hard pull.

[coldfusion]

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@Horseshoez wrote:

@Anonymous, your post was interesting; last month when I was approved for the Platinum Signature Rewards card many of my numbers were roughly the same as yours, or worse.  In the case of my EX FICO 8 it was 650, plus I have a Chapter 13 still showing on my report, so had I read your post before I applied, I probably wouldn't have bothered.

So, what made the difference between our two applications for the same card?  I don't know for sure, but I do have two additional data points:

1. I'd been a PenFed member for 6-months when I applied for the credit card, and
2. I had something like $10,000 sitting in a PenFed savings account when I applied.

Like I said, I don't know of either of the above two data points is what made the difference, but if they didn't, then there is something else about your credit reports which you have yet to uncover.  As suggested above, I would strongly recommend you pull all three of your reports and go through them with a fine-toothed comb.

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That is never a bad idea anyway for anyone just to confirm that what is being reported is accurate.

I suspect that in their eyes right now having a loan deferral casts a long shadow.  They aren't going to spend time trying to figure out the underlying reason for the deferral i.e. was it done as a matter of convenience (a legit why should I pay early if i don't have to? philosophy) vs the lender unilaterally deferring all loans due to COVID vs actual hardship.

[Anonymous]

Quick question, sorry if this has already been asked...

For the new accounts in the last 6 and 12 months, is that only new revolving accounts, or ALL new accounts?

[Anonymous]

Sorry, I've been in the woods for the past few days. I also can't log into my original myFICO account for some reason, and I'm not getting emails from this site for some reason when I tried to reset my credentials. Anyway...

The EQ 08 score is directly from my rejection letter. Credit Karma uses VantageScore 3.0, but that's pretty must irrelevant to almost everybody except for Alliant, whom uses Vantage Score 4.0. My FICO 9 from Experian is about 719, but that's probably irrelevant too.

@Horseshoez 
My data points there are drastically different than yours. I only signed up with PenFed for the Visa Platinum Rewards Signature, so my savings account was literally made on the same day and only had $5 in it.

@SweetCreditObsession

I'll definitely pull my reports again. Transunion and Experian look clean. It's probably something with EQ.

@coldfusion
The student loans were automatically deferred by the federal government because of COVID-19. I literally had no say in this. Hell, due to COVID-19, I was even automatically shifted to a different loan servicer and don't even have an option yet to pay online. I would imagine that PenFed isn't ignorant of both Trump's and Biden's executive orders. I probably could go out of my way to figure out how to pay early, but there wasn't a point to me at the time for essentially an interest-free loan, and there's definitely no point now post-PenFed-rejection.

In any case, it is what it is. I'll post more data points if requested.

[spiritcraft1]

Member for 14 years, Savings and Checking Only

Responded to Platinum Rewards Pre-Approval (with 695 EQ 09)

Hard Pull / Soft Pull:  HP
EQ 08 Fico: 699
EQ Fico 09: 729 (actual 09 score from letter)

Approved?: Yes

Instant or Review?: Instant

POI?:  No POI, No Identity Docs

AAOA: 5.5 Years
Derogs?:  (1) Nearly 7YO $10.2k CO, Unpaid

Util: 1%

Total EQ Inquiries: 3

                Last 12 months: 1

                Last 6 months: 0

New Accounts in last 12 months: 0 (0 reporting anyway)
                                 Last 6 months: 0

[Anonymous]

Well I didn't have the credit gods on my side for this one:

Your Credit Score: 721
Date: 5/1/2021
Scores range from a low of 300 to a high of 850

Key factors that adversely affected your credit score:

• Serious delinquency, and public record or collection filed (BK discharged 12/2017)

• Too many accounts with balances ( 2 car loans, 2 student loans, and 1 CC)
• Length of time revolving accounts have been established ( I could see this since the oldest one is just over 2 years now)

• Time since delinquency is too recent or unknown (no lates since BK)

POI: Yes

AAoA: 5 yrs 3 mon

Derogs: CH7 BK Discharged 12/17 No negitives since and everything PiF execpt Zale's.

Util: <2%

Inquires: 2 in 6 months, 3 in 12 months, and 6 in 24 months

[FinStar]

Sorry to hear about the outcome @Anonymous.  Don't lose hope, just give things time. On the upside, reporting your results helps the community with such data points.

[Anonymous]

Thank you @FinStar! 

I hope to give back a little to the community that has given me so much.

[Mr_Mojo_Risin]

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@Anonymous wrote:

Thank you @FinStar! 

I hope to give back a little to the community that has given me so much.

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That's a great way to look at it.

Sorry it didn't work out this time, but  thanks for sharing your experience for others to learn from.

[Fico_Salamanca]

Product(s) approved and Limit: Power Cash Rewards Visa Signature $8,750
EQ 08 Fico: 769
Penfed Nextgen:

Instant or Review: Instant

POI: None

AAOA: 3 years 4 months
Derogs?: 0

Util: 2%

Total EQ Inquiries: 3

                Last 12 months: 3

                Last 6 months: 2
New Accounts in last 12 months: 7
                                 Last 6 months: 2