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Pentagon Federal Credit Union Data Share

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Regular Contributor

PenFed denied. They don’t forget if you BK’d them!

Just for others who are in same situation. I applied back in October of this year and was denied for to new accounts and some other BS and my score was 655. I got my score up to 725 so I thought I would try again. Came back MBR HAS CAUSED PFCU TO SUFFER LOSS.
Don't know why I didn't get that the in October when I applied. Would have saved me HP.
I bk'd them 12 years ago. Just FYI.
Current Scores





Message 5671 of 5,693
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Super Contributor

Re: PenFed denied. They don’t forget if you BK’d them!

Sorry for the denial. 

Unfortunately no CU I know of will let you have credit products (and many of them any products) when you have caused them a loss. The only way to get off that list is to make them whole again. 



01/2019:
02/2020:

Closed: CareCredit $10K, B&H Payboo $7500
Hover over my cards to see my limits!
Goal cards: Cash+, Freedom.
Message 5672 of 5,693
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Moderator

Re: PenFed denied. They don’t forget if you BK’d them!


@Saeren wrote:

Sorry for the denial. 

Unfortunately no CU I know of will let you have credit products (and many of them any products) when you have caused them a loss. The only way to get off that list is to make them whole again. 


What Saeren said I dont know any CU that will let you back in if you have burnt them.  You can offer to pay back although obviously not required by law and chances go up hugely at least to NFCU of getting back in, but if you burnt a CU and no intentions of paying them back, you can just skip doing business with them at all in the future as a wasted HP

Message 5673 of 5,693
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Frequent Contributor

Re: PenFed denied. They don’t forget if you BK’d them!

Got a letter for my husband that PenFed will not charge a fee for cash advance starting soon
Does this mean it’s completely free will be ?
Message 5674 of 5,693
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Super Contributor

Re: PenFed denied. They don’t forget if you BK’d them!


@Jccflat wrote:
Got a letter for my husband that PenFed will not charge a fee for cash advance starting soon
Does this mean it’s completely free will be ?

Free as in no fee but you'll still be charged interest from the transaction date. 



01/2019:
02/2020:

Closed: CareCredit $10K, B&H Payboo $7500
Hover over my cards to see my limits!
Goal cards: Cash+, Freedom.
Message 5675 of 5,693
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Frequent Contributor

Re: PenFed denied. They don’t forget if you BK’d them!

Like nfcu ?
Message 5676 of 5,693
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Super Contributor

Re: PenFed denied. They don’t forget if you BK’d them!

NFCU charges interest from the transaction date as well but they also charge 2% more interest so PenFed actually has them beat now, especially since NFCU also has a 30% cap on cash advance limits where PenFed has been reported to allow cash advances up to the card limit (although the trade off here is likely part of the reason PenFed is more conservative with limits for those under six figures). 



01/2019:
02/2020:

Closed: CareCredit $10K, B&H Payboo $7500
Hover over my cards to see my limits!
Goal cards: Cash+, Freedom.
Message 5677 of 5,693
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Moderator

Re: PenFed denied. They don’t forget if you BK’d them!


@Saeren wrote:

NFCU charges interest from the transaction date as well but they also charge 2% more interest so PenFed actually has them beat now, especially since NFCU also has a 30% cap on cash advance limits where PenFed has been reported to allow cash advances up to the card limit (although the trade off here is likely part of the reason PenFed is more conservative with limits for those under six figures). 


hmm never noticed that but sure enough have my full cl's on card for cash advances...  Few other cards are able to do that as well, but becoming less and less

Message 5678 of 5,693
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Super Contributor

Re: PenFed denied. They don’t forget if you BK’d them!


@CreditCuriosity wrote:

@Saeren wrote:

NFCU charges interest from the transaction date as well but they also charge 2% more interest so PenFed actually has them beat now, especially since NFCU also has a 30% cap on cash advance limits where PenFed has been reported to allow cash advances up to the card limit (although the trade off here is likely part of the reason PenFed is more conservative with limits for those under six figures). 


hmm never noticed that but sure enough have my full cl's on card for cash advances...  Few other cards are able to do that as well, but becoming less and less


DCU allows the full limit too. I am actually curious if all of the more conservative CUs do so. It would certainly help explain why they don't give the massive limits we get from the likes of AMEX or Disco who both have much smaller CA limits.

 

Actually just checked my SSFCU card out of curiosity and sure enough, the full $5K is available.



01/2019:
02/2020:

Closed: CareCredit $10K, B&H Payboo $7500
Hover over my cards to see my limits!
Goal cards: Cash+, Freedom.
Message 5679 of 5,693
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Super Contributor

Re: PenFed denied. They don’t forget if you BK’d them!


@Saeren wrote:

@CreditCuriosity wrote:

@Saeren wrote:

NFCU charges interest from the transaction date as well but they also charge 2% more interest so PenFed actually has them beat now, especially since NFCU also has a 30% cap on cash advance limits where PenFed has been reported to allow cash advances up to the card limit (although the trade off here is likely part of the reason PenFed is more conservative with limits for those under six figures). 


hmm never noticed that but sure enough have my full cl's on card for cash advances...  Few other cards are able to do that as well, but becoming less and less


DCU allows the full limit too. I am actually curious if all of the more conservative CUs do so. It would certainly help explain why they don't give the massive limits we get from the likes of AMEX or Disco who both have much smaller CA limits.

 

Actually just checked my SSFCU card out of curiosity and sure enough, the full $5K is available.


RBFCU also allows you cash advance at no charge, your entire credit limit and transfer the money into one of your accounts. 






Message 5680 of 5,693
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