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Why Is PenFed Tempting Me?

baller4life
Super Contributor

Re: Why Is PenFed Tempting Me?

Oh wow with those scores you would clean up at Penfed! IJS. You could app a card and THEN garden for a year. Smiley Wink
Message 11 of 32
davis968
Member

Re: Why Is PenFed Tempting Me?

I applied last night. Instant approval for $50k credit limit. 689 credit score with 21 inquiries. Yay...I can't believe it either. 

Message 12 of 32
2011XTERROR
Super Contributor

Re: Why Is PenFed Tempting Me?

They're tempting you because it's a credit union and your username literally say CreditUnionFan
i am on mobile so i don't see your desktop signatures
Message 13 of 32
2011XTERROR
Super Contributor

Re: Why Is PenFed Tempting Me?

But, realistically, if you don't need it (which you stated you don't) then $100 isn't worth a new account and HP IMO
i am on mobile so i don't see your desktop signatures
Message 14 of 32
CreditUnionFan
Valued Contributor

Re: Why Is PenFed Tempting Me?


@2011XTERROR wrote:
But, realistically, if you don't need it (which you stated you don't) then $100 isn't worth a new account and HP IMO

That's the dilemna. The card earns 5% in points for pay at the pump, and 3% for supermarkets, but a point isn't worth 1 cent. The Sams MC earns 5% on gasoline, and their 5% is worth 1:1. The Suntrust MC and BoA Cash Rewards earn 2%, and savings/checking account customers end up with 2.2%, basically the same.

 

The appeal is mainly that if I take a HP they will perhaps offer me other products down the road, like the mortgage refinance, the next auto loan, etc. as I build a "relationship" with them. I've had other lenders extend credit, but I am a fan of credit unions. Smiley Happy 

I was going to garden... Honest!
Message 15 of 32
2011XTERROR
Super Contributor

Re: Why Is PenFed Tempting Me?

I don't think taking one product will make you any more marketable to more products like mortgages. You either qualify or you don't in most cases.
i am on mobile so i don't see your desktop signatures
Message 16 of 32
Sebastian503
Established Contributor

Re: Why Is PenFed Tempting Me?


davis968 wrote:

 

I applied last night. Instant approval for $50k credit limit.  689 credit score with 21 inquiries. Yay...I can't believe it either. 



First Congratz!


Second, great info & recommend you consider posting on baller4life's:

"Pentagon Federal Credit Union Data Share" in the Credit Card Approvals section.


You would be an immediate Rock Star over there!

05/03/16 Fico 8 Scores: EQ 546, TU 501, EX 548
09/01/16 Fico 8 Scores: EQ 662, TU 628, EX 657
10/04/16 Fico 8 Scores: EQ 692, TU 665, EX 686
01/15/17 Fico 8 Scores: EQ 706, TU 670, EX 687 * all Yellow / Good
Message 17 of 32
mitchblue
Valued Contributor

Re: Why Is PenFed Tempting Me?

Can't say enough great things about Penfed. They've been great for me. When I got a car loan from them last year, 2.24% - a month later I got my SUV and their rate was 1.99% and witchout even asking they gave that to me. 

Amex Green • Amex BCP • Amex HH (Aspire®) • Barclay Rewards • Chase World of Hyatt • Chase FU • Capital One Quicksilver • Discover it • PENFED Platinum Rewards • Marvel MC • Amazon Store • Kohls Store • CL $109,330 • Car Loan (PENFED) 1.99% PAID

FICO® 8 Scores 805-812 FICO® 9 Equifax 822
Message 18 of 32
MEKWT
Frequent Contributor

Re: Why Is PenFed Tempting Me?


@CAPTOOL wrote:

PenFed sucks. You should shred the mailer.


This is unacceptable behaviorSmiley Very Happy. I choked on my Gatorade reading this post. Great laugh. Def did not expect to read those words. lol

Staring Score: EQ 597 TU 617 EX 566 (01/22/2016)Current Score: EQ 667 TU 701 EX 744 (05/26/2016)
Message 19 of 32
Musiclover
Super Contributor

Re: Why Is PenFed Tempting Me?


@davis968 wrote:

I applied last night. Instant approval for $50k credit limit. 689 credit score with 21 inquiries. Yay...I can't believe it either. 


Well, that is amazing! Congratulations!


Daily Drivers: Penfed Platinum Rewards; NFCU GoRewards; Discover..
Message 20 of 32
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