So, Penfed denied me.

newgirlintown · ‎08-24-2020

They sent me a pre approval in the mail with an approval code. I wasn't even thinking about applying for a card from a bank I had never even heard of. Nevertheless, I applied and was approved within seconds. They asked for a copy of my dl, and ss card...sent. Then they asked for utility bills. All of our bills are in my husbands name. I called cs and explained the situation. The first person I spoke with told me that that was fine, just send a medical bill or something with my address. Done. The next day I reveive an email stating that a medical bill was not sufficient. I call cs again, explained my situation and was again told, no problem, just send a bank statement. I send a bank statement and a few days later was told that was not sufficient. I called cs again and asked to speak with a supervisor as I am tired of being given the wrong information. I was told that there was no one else that I could speak to and perhaps I could just send a bank statement. I said "I have already". Finally after being on hold for about minutes while my application is reviewed, I was told that a decision would be made soon. Ten minutes later, I receive an email stating that my application is denied due to my credit score etc etc...you know the typical excuses they give. A hard pull for nothing. At the time of my app, my scores were as follows Equifax 702, TU 719, Exp 728. After the hard Equifax inquiry, my score dropped to 699. What a waste of time! I am so upset I don't know what to do!!

Anonymous · ‎08-24-2020

@newgirlintown wrote:
They sent me a pre approval in the mail with an approval code. I wasn't even thinking about applying for a card from a bank I had never even heard of. Nevertheless, I applied and was approved within seconds. They asked for a copy of my dl, and ss card...sent. Then they asked for utility bills. All of our bills are in my husbands name. I called cs and explained the situation. The first person I spoke with told me that that was fine, just send a medical bill or something with my address. Done. The next day I reveive an email stating that a medical bill was not sufficient. I call cs again, explained my situation and was again told, no problem, just send a bank statement. I send a bank statement and a few days later was told that was not sufficient. I called cs again and asked to speak with a supervisor as I am tired of being given the wrong information. I was told that there was no one else that I could speak to and perhaps I could just send a bank statement. I said "I have already". Finally after being on hold for about minutes while my application is reviewed, I was told that a decision would be made soon. Ten minutes later, I receive an email stating that my application is denied due to my credit score etc etc...you know the typical excuses they give. A hard pull for nothing. At the time of my app, my scores were as follows Equifax 702, TU 719, Exp 728. After the hard Equifax inquiry, my score dropped to 699. What a waste of time! I am so upset I don't know what to do!!

Amex pre-approvals have been pretty and in my opinion to a marginally lesser extent so are JP Morgan Chase pre-approvals... other pre-approvals have not meant much and mean even less in covid environment.

My Amex vs Chase experience is anecdotal.

mrjerry · ‎08-24-2020

@newgirlintown wrote:
They sent me a pre approval in the mail with an approval code. I wasn't even thinking about applying for a card from a bank I had never even heard of. Nevertheless, I applied and was approved within seconds. They asked for a copy of my dl, and ss card...sent. Then they asked for utility bills. All of our bills are in my husbands name. I called cs and explained the situation. The first person I spoke with told me that that was fine, just send a medical bill or something with my address. Done. The next day I reveive an email stating that a medical bill was not sufficient. I call cs again, explained my situation and was again told, no problem, just send a bank statement. I send a bank statement and a few days later was told that was not sufficient. I called cs again and asked to speak with a supervisor as I am tired of being given the wrong information. I was told that there was no one else that I could speak to and perhaps I could just send a bank statement. I said "I have already". Finally after being on hold for about minutes while my application is reviewed, I was told that a decision would be made soon. Ten minutes later, I receive an email stating that my application is denied due to my credit score etc etc...you know the typical excuses they give. A hard pull for nothing. At the time of my app, my scores were as follows Equifax 702, TU 719, Exp 728. After the hard Equifax inquiry, my score dropped to 699. What a waste of time! I am so upset I don't know what to do!!

Utility bills ( proof of residence ) is the easiest thing to get done.. all youd have to do is add yourself onto a TV bill or Cell phone bill or something similar with your address that shows on your drivers license.... I was asked for Proof of residence when leasing our current mercedes back in 2018. I called my Cable provider and added myself on my wife's account ( finished in 5 minutes ).

Anonymous · ‎08-24-2020

@newgirlintown wrote:
They sent me a pre approval in the mail with an approval code. I wasn't even thinking about applying for a card from a bank I had never even heard of. Nevertheless, I applied and was approved within seconds. They asked for a copy of my dl, and ss card...sent. Then they asked for utility bills. All of our bills are in my husbands name. I called cs and explained the situation. The first person I spoke with told me that that was fine, just send a medical bill or something with my address. Done. The next day I reveive an email stating that a medical bill was not sufficient. I call cs again, explained my situation and was again told, no problem, just send a bank statement. I send a bank statement and a few days later was told that was not sufficient. I called cs again and asked to speak with a supervisor as I am tired of being given the wrong information. I was told that there was no one else that I could speak to and perhaps I could just send a bank statement. I said "I have already". Finally after being on hold for about minutes while my application is reviewed, I was told that a decision would be made soon. Ten minutes later, I receive an email stating that my application is denied due to my credit score etc etc...you know the typical excuses they give. A hard pull for nothing. At the time of my app, my scores were as follows Equifax 702, TU 719, Exp 728. After the hard Equifax inquiry, my score dropped to 699. What a waste of time! I am so upset I don't know what to do!!

Wow that is too bad. There should be some sort of work around because not everyone has utilities! Meaning they could be included in HOA or if renting the landlord pays them and are in their name (my situation). Also, not everyone has a cell (work provided or voip, or just no service in the area/rural - I have had this happen before) or cable/satellite (cord-cutters).

This has also been a problem in the past because I always put everything in my name and my SO never has anything in his name, so when possible, I try to put at least something in his name so there is no problems like that anymore. But again, we may have no utility-like bills in either of our names!

Sorry for the denial!

Anonymous · ‎08-25-2020

OMG! I totally understand what happened to you! It literally just happened to me. Took 5days all the back and forth. Plus I provided my passport, bank statements, tax statements, W2 and SSN card plus DL.

I was eventually approved for $1000. But I'm probably going to decline the offer. EQ 777. I dunno how bad it would be now cause the HP.

I've never had this happen before.

Sorry this happened to you. It does make a person feel crappy. I sure did!

Cyber hugs to you cause I feel your pain.

AverageJoesCredit · ‎08-25-2020

im a certified board member of the Penfed denial club with 9 hps still showing to prove it. They want to give me a free cookie by completing #10 by sending me email and mailer to apply but i told them im Master, not PHD

NOT end of the world, our scores rise and fall, just chalk it up to experience

Anonymous · ‎08-25-2020

@AverageJoesCredit wrote:
im a ~~certified board member~~ Chairman of the Board of the Penfed denial club ...

FTFY @AverageJoesCredit

newgirlintown · ‎08-25-2020

Thanks but now I realize that I should not have gotten all geeked up about it in the first place. That will NEVER happen again.

newgirlintown · ‎08-25-2020

Thanks. If I were you, I'd just go ahead and accept it. You may as well get something in return for the hard pull.

newgirlintown · ‎08-25-2020

Yes! I was really excited because they offered a sl of $8700 (with an apr of 17%) which would have been my highest line next to QS which is 7k. Oh well, it was a want anyway, not a need, just p/o'd because they gave me the runaround for nothing. You live and learn.