Shot Down by PenFed - Datapoints

[AverageJoesCredit]

Lol @ the wink wink Only us MFers find a way to use our ccs for rewards. Im a glutten so i will probably toss an app one day just to see what sticks. With life being short , when you have tons of hps, whats one more lol. But yeah, PF boggles the mind especially seeing as they are so big. Cant wait to see the waves of Pathfinder apps upcoming

[addicted_to_credit]

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@AverageJoesCredit wrote:

Lol @ the wink wink Only us MFers find a way to use our ccs for rewards. Im a glutten so i will probably toss an app one day just to see what sticks. With life being short , when you have tons of hps, whats one more lol. But yeah, PF boggles the mind especially seeing as they are so big. Cant wait to see the waves of Pathfinder apps upcoming

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I started my apping shenanigans in May of last year and I've probably made 1500+ off my cards in that time. I think the large part of my success in getting so many cards in so little time is due to the fact I don't normally pull the trigger unless I have a pre qualified/approved offer. I went from 0 in available credit to 185,500 in that time current scores are 767 EX, 780 TU and 795 EQ. Inq's are **bleep**/24

[Green456]

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@Anonymous wrote:

Was declined for the PenFed Power Cash credit card today after withrawing an application for a $25,000, 48 month unsecured installment loan that PenFed priced at 12.99%.

I have been a PenFed member for over two years, had a share secured $18,000, 18 month installment loan with them, since payed off, an auto loan that I payed of in 6 months, 2 savings accounts, a checking account, and 4 cd accounts with them.  All of my deposit accounts are still open with them. 

My denial letter indicated a FICO credit score of 764 and listed the standard 4 garbage reasons for the denial.  My AAoA is 25 months, AoOA is 49 months, and have credit 5 accounts on report, including a Chase Sapphire Preferred with a $25,000 limit and another Chase card with a $16,200 limit.  No derogatories on credit report or on public records.  My income is $130,000 per year, but I rent my place.  I have been with my current employer for over 4 years, but have moved to another state in the last 3 months.  My employment relationship is not dependent on which state I currently live in.  There have been no new credit accounts in over six months with 2 inquiries in the last year.  

After discussing my perceived strong profile with the PenFed rep, she put me on hold so she could confer with a loan officer.  The Rep stated I did not have a sufficient history with PenFed.  When I pressed her for specifics, she said Penfed likes to see a payment history of at least 36 months on a installment loan as shown on a credit report before approving a credit card.  Interesting Penfed does not seem so picky on a unsecured $25,000 installment loan.

Can anyone point me to the PenFed Credit Consolation section of myfico.com?

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They just gave you a reason for denial because they needed to provide one.