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DW Approved for PenFed PCR

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Valued Contributor

DW Approved for PenFed PCR

DW was just conditionally approved for a PenFed PCR and have a couple questions.

 

It says that they will send an email or snail mail regarding what is needed.  Is this usually and email?  Paystubs I imagine?

 

Also, it noted 1.5% CB but she seems to have met the 2% threshold by having an Access America checking account.  How does that all work out?

 

DP's:  New official member I thought but when she joined a week ago they already had her info and number etc.  I must have signed her up when I did myself back in 2008???  

 

EQ09 = 726

DTI = 11%

Utilization = <1%

TCL = $60k or something

(2) 6.5YO Paid CO

(1) 6,5 YO "closed" unpaid CA ($4k)

 




Rebuilding from a sudden, swift and complete credit disaster in early 2014 | Starting Scores 2017 = Very Low 400's
1-1-17 -
8-1-18 -
12-24-18 -
Current F08 -
Current F09 -

Biz Credit in Order of Approval - Uline, Quill, Grainger, SupplyWorks, MSC, Amsterdam, FuelMan .8K, Citi Tractor Supply Rev .8k, Builder Pro 5.4K, Amazon Net 55 $5.5k, NewEgg Net 30 10k, Richelieu 2k, Wurth Supply 2k, Global Ind 2k, Sam's Club Store 11.k, Shell Fleet 19.5k, Citi Exxon 2.5k, Dell Biz Revolving $15k - All No PG | AMEX Biz Gold NPSL
Message 1 of 25
24 REPLIES 24
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Valued Contributor

Re: DW Conditionally Approved for PenFed PCR

I can add....they do some paperwork old school

If you go into application status it will/should ask you to download an agreement, sign and upload. I had to do it and it's pretty much a signature card and confirmation of whether I wanted an additional user. If that's not showing online, then they'll need more and that will be specific to DW. You may be able to call on MON and speak to UW to ask their needs and upload. I didn't get that specific request, only the online one aforementioned. 

Once the account is opened, it will then link to your other accounts, recognize the checking and notify you that you'll be getting 2% versus 1.5%. It has to sync in their system once activated first. 

Message 2 of 25
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Community Leader
Valued Contributor

Re: DW Conditionally Approved for PenFed PCR

Good luck on DW application. You received some very good info from @cashorcharge . Many CU have a similar routine with status, doc upload, etc.

Message 3 of 25
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Valued Contributor

Re: DW Conditionally Approved for PenFed PCR


@cashorcharge wrote:

I can add....they do some paperwork old school

If you go into application status it will/should ask you to download an agreement, sign and upload. I had to do it and it's pretty much a signature card and confirmation of whether I wanted an additional user. If that's not showing online, then they'll need more and that will be specific to DW. You may be able to call on MON and speak to UW to ask their needs and upload. I didn't get that specific request, only the online one aforementioned. 

Once the account is opened, it will then link to your other accounts, recognize the checking and notify you that you'll be getting 2% versus 1.5%. It has to sync in their system once activated first. 


To add:  They have not done a HP as yet.  She "joined" one week ago and they soft pulled her EQ then.  I must have signed her up years ago since her membership was instant, no documents etc.  




Rebuilding from a sudden, swift and complete credit disaster in early 2014 | Starting Scores 2017 = Very Low 400's
1-1-17 -
8-1-18 -
12-24-18 -
Current F08 -
Current F09 -

Biz Credit in Order of Approval - Uline, Quill, Grainger, SupplyWorks, MSC, Amsterdam, FuelMan .8K, Citi Tractor Supply Rev .8k, Builder Pro 5.4K, Amazon Net 55 $5.5k, NewEgg Net 30 10k, Richelieu 2k, Wurth Supply 2k, Global Ind 2k, Sam's Club Store 11.k, Shell Fleet 19.5k, Citi Exxon 2.5k, Dell Biz Revolving $15k - All No PG | AMEX Biz Gold NPSL
Message 4 of 25
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Valued Contributor

Re: DW Conditionally Approved for PenFed PCR


@cashorcharge wrote:

I can add....they do some paperwork old school

If you go into application status it will/should ask you to download an agreement, sign and upload. I had to do it and it's pretty much a signature card and confirmation of whether I wanted an additional user. If that's not showing online, then they'll need more and that will be specific to DW. You may be able to call on MON and speak to UW to ask their needs and upload. I didn't get that specific request, only the online one aforementioned. 

Once the account is opened, it will then link to your other accounts, recognize the checking and notify you that you'll be getting 2% versus 1.5%. It has to sync in their system once activated first. 


Thank you! Already added me as an AU but no link to anything or email as yet.  

 

Screenshot_2020-09-19 Application Final.png




Rebuilding from a sudden, swift and complete credit disaster in early 2014 | Starting Scores 2017 = Very Low 400's
1-1-17 -
8-1-18 -
12-24-18 -
Current F08 -
Current F09 -

Biz Credit in Order of Approval - Uline, Quill, Grainger, SupplyWorks, MSC, Amsterdam, FuelMan .8K, Citi Tractor Supply Rev .8k, Builder Pro 5.4K, Amazon Net 55 $5.5k, NewEgg Net 30 10k, Richelieu 2k, Wurth Supply 2k, Global Ind 2k, Sam's Club Store 11.k, Shell Fleet 19.5k, Citi Exxon 2.5k, Dell Biz Revolving $15k - All No PG | AMEX Biz Gold NPSL
Message 5 of 25
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Valued Contributor

Re: DW Conditionally Approved for PenFed PCR


@spiritcraft1 wrote:

@cashorcharge wrote:

I can add....they do some paperwork old school

If you go into application status it will/should ask you to download an agreement, sign and upload. I had to do it and it's pretty much a signature card and confirmation of whether I wanted an additional user. If that's not showing online, then they'll need more and that will be specific to DW. You may be able to call on MON and speak to UW to ask their needs and upload. I didn't get that specific request, only the online one aforementioned. 

Once the account is opened, it will then link to your other accounts, recognize the checking and notify you that you'll be getting 2% versus 1.5%. It has to sync in their system once activated first. 


To add:  They have not done a HP as yet.  She "joined" one week ago and they soft pulled her EQ then.  I must have signed her up years ago since her membership was instant, no documents etc.  


When I joined, it was an EQ SP and it was instant...no docs required.  When I app'd for a card a week later, got the EQ HP. Is her EQ locked?  My HP notification took 24 hours from EQ but it did certainly happen. 

 

Each account requires the same signed agreement. I have 2 cards, got them 30 days apart and had to do the same signature card and AU form each time. I've spoken to their UW team before...all friendly and easy to work with. Give them a call. The CSR will transfer you to them during EST business hours....8:00AM to 5:00PM

Message 6 of 25
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Valued Contributor

Re: DW Conditionally Approved for PenFed PCR


@cashorcharge wrote:

@spiritcraft1 wrote:

@cashorcharge wrote:

I can add....they do some paperwork old school

If you go into application status it will/should ask you to download an agreement, sign and upload. I had to do it and it's pretty much a signature card and confirmation of whether I wanted an additional user. If that's not showing online, then they'll need more and that will be specific to DW. You may be able to call on MON and speak to UW to ask their needs and upload. I didn't get that specific request, only the online one aforementioned. 

Once the account is opened, it will then link to your other accounts, recognize the checking and notify you that you'll be getting 2% versus 1.5%. It has to sync in their system once activated first. 


To add:  They have not done a HP as yet.  She "joined" one week ago and they soft pulled her EQ then.  I must have signed her up years ago since her membership was instant, no documents etc.  


When I joined, it was an EQ SP and it was instant...no docs required.  When I app'd for a card a week later, got the EQ HP. Is her EQ locked?  My HP notification took 24 hours from EQ but it did certainly happen. 

 

Each account requires the same signed agreement. I have 2 cards, got them 30 days apart and had to do the same signature card and AU form each time. I've spoken to their UW team before...all friendly and easy to work with. Give them a call. The CSR will transfer you to them during EST business hours....8:00AM to 5:00PM


Just got the notification...  She now has 1 HP on EQ  Smiley Happy

Still awaiting the agreements but the AU came up during the app process.  I can have her call.  




Rebuilding from a sudden, swift and complete credit disaster in early 2014 | Starting Scores 2017 = Very Low 400's
1-1-17 -
8-1-18 -
12-24-18 -
Current F08 -
Current F09 -

Biz Credit in Order of Approval - Uline, Quill, Grainger, SupplyWorks, MSC, Amsterdam, FuelMan .8K, Citi Tractor Supply Rev .8k, Builder Pro 5.4K, Amazon Net 55 $5.5k, NewEgg Net 30 10k, Richelieu 2k, Wurth Supply 2k, Global Ind 2k, Sam's Club Store 11.k, Shell Fleet 19.5k, Citi Exxon 2.5k, Dell Biz Revolving $15k - All No PG | AMEX Biz Gold NPSL
Message 7 of 25
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Super Contributor

Re: DW Conditionally Approved for PenFed PCR

Congratulations on DW approval!

Message 8 of 25
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Epic Contributor

Re: DW Conditionally Approved for PenFed PCR


@spiritcraft1 wrote:

@cashorcharge wrote:

I can add....they do some paperwork old school

If you go into application status it will/should ask you to download an agreement, sign and upload. I had to do it and it's pretty much a signature card and confirmation of whether I wanted an additional user. If that's not showing online, then they'll need more and that will be specific to DW. You may be able to call on MON and speak to UW to ask their needs and upload. I didn't get that specific request, only the online one aforementioned. 

Once the account is opened, it will then link to your other accounts, recognize the checking and notify you that you'll be getting 2% versus 1.5%. It has to sync in their system once activated first. 


Thank you! Already added me as an AU but no link to anything or email as yet.  

 

Screenshot_2020-09-19 Application Final.png


Congrats on DW's conditional approval.

I would say they are looking for ID verification, DL, SS card , Utility bill?

And possibly POI ?. Most credit unions are really enforcing proof, as fraud increases.

 

Wishing DW a great outcome!

Message 9 of 25
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Epic Contributor

Re: DW Conditionally Approved for PenFed PCR


@AllZero wrote:

Congratulations on DW approval!


Maybe I need more coffeeSmiley Indifferent

Message 10 of 25
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