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Pentagon Federal Credit Union Data Share

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cashorcharge
Community Leader
Super Contributor

Re: Pentagon Federal Credit Union Data Share


@Aspireto850 wrote:

Hi,'

 

Does Penfed have the 91/3 policy for requesting CLIs? Is it confirmed that it will always be a HP?

 

Thanks,

 

 


Yes, member-initiated CLI's are always EQ HP.  If you are given an "offer" which can be found in the "other offers" area on their website (not the mobile app) you can use those and NO HP would result if you accept.  They informed me that "offers" are typically generated or a member is "eligible" to be considered for an offer after your account has aged 6 months.

 

Also worth noting, if you say...apply for another card, resulting in a new HP....you can use that same HP to process a CLI request on an existing account...or vice versa.  I would venture to guess if you decide to go that route, applying for a new card and then asking for a CLI on an existing is the better path.

Message 5851 of 5,922
pip3man
Valued Contributor

Re: Penfed Approvals Please Post Your Data For Others

EQ 08 Fico: 655
Penfed Nextgen: Not sure

Instant or Review?: Instant

POI?(If yes, what type of proof of income): None required

AAOA: 1yr 11months
Derogs?: (If you have a BK please list type and discharge date!): BK7 discharged July 2020

Util: 12%

Total EQ Inquiries: 16

                Last 12 months: 16

                Last 6 months: 12
New Accounts in last 12 months: 10
                                 Last 6 months: 10

 

Footnote: Was approved for $2500 with a 17.99% APR. Actually applied for the Platinum Rewards but was counteroffered the PCR which I already have and opened like 2 months ago. The first PCR has a $2k limit with a 17.99% APR as well. Been a member for over 7yrs, got $1k in share savings and monthly direct deposit into my checking account.

Message 5852 of 5,922
CreditPuppy
Valued Member

Re: Pentagon Federal Credit Union Data Share

Hey @cashorcharge ,

 

I have a question about PenFed.  I had heard that they withdraw the HP after 90 days.  Is that true?

 

Thanks.

Starting Score: 524
Current Score: 721
Goal Score: 785+


Take the myFICO Fitness Challenge

Message 5853 of 5,922
cashorcharge
Community Leader
Super Contributor

Re: Pentagon Federal Credit Union Data Share

@CreditPuppy 

I will say that is categorically FALSE.

I have never heard of any lender pulling/removing a HP if it was legitimate.  Now, I should caveat that both my applications were approved and I have the 2 seperate HP's to prove and never asked them to remove them as they were legit.

 

I would be curious as to who is saying they can be removed and under what circumstances?  Even with a HP that results in a denial of an application, I have not seen FI's removing HP's for the heck of it.  

Message 5854 of 5,922
CreditPuppy
Valued Member

Re: Pentagon Federal Credit Union Data Share

@cashorcharge 

Thanks. It was from a YouTube channel I watch. He had stated they withdraw the HP after 90 days, and that it had shocked him since he had not asked them to do it. He had called PenFed and the person confirmed. I had never heard of any lender doing that, so thought I would ask.

Starting Score: 524
Current Score: 721
Goal Score: 785+


Take the myFICO Fitness Challenge

Message 5855 of 5,922
Horseshoez
Senior Contributor

Re: Pentagon Federal Credit Union Data Share


@CreditPuppy wrote:

Hey @cashorcharge ,

 

I have a question about PenFed.  I had heard that they withdraw the HP after 90 days.  Is that true?

 

Thanks.


I agree with @cashorcharge, not gonna happen; the hard pulls are there to stay.

I categorically refuse to do AZEO!
Message 5856 of 5,922
Anonymous
Not applicable

Re: Pentagon Federal Credit Union Data Share

The craziest thing happened to me today. I have 95% util (another story). My EQ is my lowest score. The last score update in my Penfed account says my score is 604. I know that my scores went up in the weeks/month since then, but it could not have gone up that high. I get an email today saying I am preapproved for Platinum Rewards Visa Signature Card. It was also in the offer section of my account. Thinking it would be a SP, I pulled the trigger. Then got a notification that I would need to unfreeze my report. I did not remember that I had it locked. It has literally been 2 years since I applied for anything. Anyway, I unlock it and it goes to review. I just know it is a denial, because like I said, utilization. However, I just got an email saying I was approved with a $5,000SL! I am floored.

 

Just 3 years ago I had a Power Rewards Card that they REFUSED to increase. My scores were MUCH better (bought a house and with it came expenses) and I always had VERY low utilization. No more than 10%. Anyway, I had a tantrum and closed the card. It had a $500 limit and it was just pointless. I would have to pay it off several times per month just to take advantage of the cashback. Now, here we are. Truly puzzled.

Message 5857 of 5,922
cashorcharge
Community Leader
Super Contributor

Re: Pentagon Federal Credit Union Data Share


@Anonymous wrote:

The craziest thing happened to me today. I have 95% util (another story). My EQ is my lowest score. The last score update in my Penfed account says my score is 604. I know that my scores went up in the weeks/month since then, but it could not have gone up that high. I get an email today saying I am preapproved for Platinum Rewards Visa Signature Card. It was also in the offer section of my account. Thinking it would be a SP, I pulled the trigger. Then got a notification that I would need to unfreeze my report. I did not remember that I had it locked. It has literally been 2 years since I applied for anything. Anyway, I unlock it and it goes to review. I just know it is a denial, because like I said, utilization. However, I just got an email saying I was approved with a $5,000SL! I am floored.

 

 


Congratulations on your approval @Anonymous !!!

 

Message 5858 of 5,922
cashorcharge
Community Leader
Super Contributor

Re: Pentagon Federal Credit Union Data Share


@CreditPuppy wrote:

@cashorcharge 

Thanks. It was from a YouTube channel I watch. He had stated they withdraw the HP after 90 days, and that it had shocked him since he had not asked them to do it. He had called PenFed and the person confirmed. I had never heard of any lender doing that, so thought I would ask.


Thanks for sharing.  

Message 5859 of 5,922
Anonymous
Not applicable

Re: Pentagon Federal Credit Union Data Share


@cashorcharge wrote:

@Anonymous wrote:

The craziest thing happened to me today. I have 95% util (another story). My EQ is my lowest score. The last score update in my Penfed account says my score is 604. I know that my scores went up in the weeks/month since then, but it could not have gone up that high. I get an email today saying I am preapproved for Platinum Rewards Visa Signature Card. It was also in the offer section of my account. Thinking it would be a SP, I pulled the trigger. Then got a notification that I would need to unfreeze my report. I did not remember that I had it locked. It has literally been 2 years since I applied for anything. Anyway, I unlock it and it goes to review. I just know it is a denial, because like I said, utilization. However, I just got an email saying I was approved with a $5,000SL! I am floored.

 

 


Congratulations on your approval @Anonymous !!!

 


Thank you!!

Message 5860 of 5,922
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