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Last CC application answer for Pen Fed

Established Contributor

Last CC application answer for Pen Fed

I applied for a savings account with Pen Fed, thinking I might check with them about refinancing my car loan.  While they did beat my rate slightly (3.25% vs. 3.99%) it wasn't enough to justify the jump.  I already make slightly larger payment hoping to pay it off a bit early so I decide not to do it.  I checked my CB alerts and they did do a HP, so I decided why not ask for a credit card on the HP and see what happens.  I fully expected to be turned down and given the pyramid excuse but I was very very wrong. 


***Not only did they approve the Cash Rewards Visa, but they gave me a starting CL of $10,000.***


 I'm in shock, I really thought I would be turned down.  Now to the garden.  I really don't need any more cards ever, I just want to get the CL up, the APR's down and let the baddies roll off over the next 1.5 years.  


Two years ago, the only open card I had left open was Dress Barn.  We got my DH a card and added me as the AU.  I'm the only one that used that card, went from $300 to $2300 CL in 6mo (which it's still at).  We let that card rebuild our credit for a year and a half, then I got a Macy's card (began at $600 CL, now at $2500), an Old Navy card ($300) and let them mild and regular usage for 6 months.  Then got an auto Loan in March of 2017 for a new car, August got Carecredit for Dental ($6000, but only used $2,000).  Now in January we took the jump and got a Discover card BCE ($10K CL), AMEX Everyday ($1K CL), Amazon ($3,100 CL), Wayfair ($6,500 CL) and then the Penfed Cash Rewards ($10K).


Definitely into the GARDEN we go!  The only thing we still need is a business credit card for my DH but we will let these cards show proper usage with him as an AU and then in 6 months or a year he can jump the garden fence, get a card and jump right back in.  I think at that point we should just garden for life unless we need a car or can ever afford a house.  No more credit cards for us.  These are good.


FICO 8:Experian)… EQ 707     TU  684   EX  667 (1/27/2018) 

FICO 8: (experian)…EQ  659   TU 686    EX 659 (08/12/17) 

FICO 8-(experian)—EQ  682  TU  628    EX 650 (02/08/17)

FICO - I think 2 years ago we started at 535 or 550  I can't remember and didn't notate it

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Community Leader
Mega Contributor

Re: Last CC application answer for Pen Fed

Congratulations on your approval!

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