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Should I app or not?

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Valued Contributor

Should I app or not?

I wanted to get a credit card with Penfed. I have a checking account with them and over draft limit of $5,000. I filed for Chapter 7 back in May 2017. Do I have a chance of getting approved?

 

Length of Credit History 10 Years, 2 Months
Average Account Age.   4 Years, 11 Months

Most recent account....  Opened on 09/15/2019

Screen Shot 2020-02-09 at 10.02.42 AM.png


Filed chapter 7 in May 2017.
Message 1 of 19
18 REPLIES 18
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Community Leader
Senior Contributor

Re: Should I app or not?

As a disclaimer, I have no relationship with PenFed. So my opinion is merely that-- opinion lol. I would THINK that if your prior relationship with PenFed has been good, you would be able to get approved. CUs tend to reward loyalty. However, I don't know any other details about your credit situation, so of course I can't say for sure. 

 

@AverageJoesCredit  has experience with PenFed 

Discover It: 19.7k
Amex ED: 16k
Citi DC: 6.7k
Amex BCE: 4k
Citi Rewards+: 3.6k
~~~~~~~~~~~~~~~~~~
Once you go Berner, you never go back.
Message 2 of 19
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Valued Contributor

Re: Should I app or not?

Good luck if you do apply! 

April 2020
Experian Fico 8. 701
Transunion Fico 8. 711
Equifax Fico 8. 717

Capital one QS. $600
Credit one. $300. (Soon to close )
Capital one QS1. $2250
Discover IT Cashback. $12,000
PNC cash rewards signature Visa. $12,500
Chase SW rapid rewards signature visa $6900
Amex Green Card NPSL POT $11,000

All cards opened between Oct 2018. - March 2020

Message 3 of 19
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Valued Contributor

Re: Should I app or not?

Best of luck! 



Last App: BECU 02-26-2020
Pronouns: He/Him/His
Message 4 of 19
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Valued Contributor

Re: Should I app or not?

How long have you had your account with them?!













((This needs to be updated just added new card))INQ's: EQ: 6 TU: 1 EX: 0 (last 24 mo.)
Recent Accounts: 7-that caused inquires (last 24 mo.)
Total CL: 14.8k Util. LOL% AAoA: 1 yrs, 4 mo.
AoOA: 5 yrs, 2 mo. AoYA: 0 yr, 3 mo.--I think I did the AA/Ao's Right LOL
Message 5 of 19
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New Contributor

Re: Should I app or not?

Penfed is my best creditor. I have 2 cards with them, both have $17,500 CL. One power visa started with $10,000 at 3 months they bumped to $17,500 as well as approved me for the amex pathfinfer for $17,500. I say go for it.

PenFed Pathfinder Visa- (17500), PenFed Visa- (17500), Langley FCU- (10000), Navy FCU- (500), USAA Cash Rewards- (2500), USAA Rate- (6000), Amex Hilton- (2000), Amex ED- (3900), Amex Gold- (NPSL), Amex Magnet- (12400 AU), Amex Business- (18000 AU), Discover IT Travel- (12400), Discover IT Cash- (3000), Macys Amex- (7000), Chase- (4500), Petal Card- (4500), Apple Card- (4500), BBVA- (5000), Barclay Carnival- (6000), Cap 1- (1170), Cap 1- (2500), Cap 1 QS- (500 Closed), Cap 1 Venture- (1000), Cap 1 Walmart- (1200), Credit One- (1100 Closed), Credit One- (1850 Closed), Merrick- (1650), Legacy- (2100), Wayfair- (10800), Home Depot- (4900), Lowes- (5000), Firestone Car Care- (2000), Victoria Secret- (2100), Belk- (700), PayPal Credit- (3400), Sams- (1550), Gettington- (1650), Kohls- (3000), Jared- (3000), Care Credit- (2500), Target- (400), Klarna- (1000), Affirm Peloton- (8000), Affirm JomaShop- (3580)
Message 6 of 19
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Frequent Contributor

Re: Should I app or not?

I was very much with the same profile you have except had and auto loan and only a savings account and was approved, i did have to prove income and had to recon. The CSR's are some of the best to work with.  Best of luck if you decide to app.






“The man who says he can, and the man who says he can not… Are both correct.”
Message 7 of 19
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Frequent Contributor

Re: Should I app or not?

Speaking from my experience ( i was discharged 07/2018 )  you have a good chance if your income can support it. I have 2 cards with them, cash reward $15000 and 2 months later I applied for PenFed rewards approved for  $ 10000 but they asked for POI before the application is booked. Best of luck if you decide to apply. 





Message 8 of 19
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Valued Contributor

Re: Should I app or not?

@Aptiger since you have $5000  Over draft credit I'm sure you would definitely  be approved.  I say go for it and Good Luck!

Message 9 of 19
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Super Contributor

Re: Should I app or not?

Good luck if you decide to apply



3/2016 EX 644 CK-TU 642 CK-EQ 660 WalMart- 671.
>04/2020 CCT EX 834 TU 848 EQ 844

I'd get it one piece at a time
And it wouldn't cost me a dime
You'll know it's me when I come through your town
I'm gonna ride around in style
I'm gonna drive everybody wild
'Cause I'll have the only one there is around.

- Johnny Cash One Piece At A Time
Message 10 of 19
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