Finally Approved - PenFed

[securingourfuture]

So I signed up with PenFed a year ago. I was able to get the membership, but no credit approvals. Then, in June, I was looking at buying a new car, but I was upside down way too much. But PenFed did approve me for $25k on an additional car at like 5%. So I knew I might be close to getting credit cards. I decided to pull the trigger on a Promise and a Rewards card last night. Instead of a denial, both apps went to a loan officer. I was still kinda bummed, but I didn't anticipate anything except an instant denial. Well, I just checked online and I have been approved for the Promise so far. It's only $1,000 (at 17.99%), but I know I can grow it. Yay!

As of this moment, the rewards card is pending. What do you all think? My total utilization is about 20% (includes 0 apr offers that will pay off within the next 6 months), 1 30-day late from Santander from 11/2013, no BK, EXP 655, TU 672, ?? EQ.

I'm totally happy just to be in the door with PenFed.

[Anonymous]

Congrats on your approval. The rewards card has a stricter UW because the minimum SL is 5k. Good luck! Keep us posted! 

[Anonymous]

Hey Now! Look @ that. Great new SL. ..LoL. Enjoy your card. And don't spend it all in one place.

[securingourfuture]

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@Anonymous wrote:
@Anonymous Now! Look @ that. Great new SL. ..LoL. Enjoy your card. And don't spend it all in one place.

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Thank you...I will definitely micromanage the heck out of this to get it to grow. PenFed is really amazing, so I I'll be sure not to waste this blessing they've sent my way. Lord knows they have forsaken me for a while now lol.

[Anonymous]

good luck man hopefully they give you a 10k card!

[securingourfuture]

Just heard back...I've been labeled an Egyptian. They gave me the pyramiding debts reason. 

Oh well, I'm in and I'll take care of it so it'll grow. I'm moving into the prime category now that I'm in with Chase, Discover, BOA, and Amex. This time a year ago, I only had BOA. Onward and upward!

Thanks for encouragement, guys!

[baller4life]

Congrats on your approval. Garden for awhile and let your accounts age. You'll get more from them once you garden for awhile!

[securingourfuture]

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@baller4life wrote:

Congrats on your approval. Garden for awhile and let your accounts age. You'll get more from them once your garden for awhile!

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I love that graphic! PenFed is soooo discriminatory! 😂😂

[baller4life]

They are known to be anti-Egyptian for sure. They don't like alot of new accounts. I'm glad you finally got in. It will grow!

[padme]

congrats fetting the Promise card, i lowballed them too getting the lower tier card, when i did the survey and got the call back, i asked about a BT card, and next thing thing u know, i got a Gold card in the mail, limit only $500 on that.