PENFED denied...recon then denied...SURVEY THEN APPROVED!!

[Anonymous]

I applied for a penfed account online using my navy league membership and it was instantly approved and setup. I then took the chance and applied for the power rewards card which went to a LO and was eventually denied. 

After the initially disappointment I decided to try calling in to see why it was denied and maybe try recon. The lady wouldnt forward me to a LO because she stated it was a "lost cause" and the LO dont recon after denial. She mentioned it was because of my recent inquiries (I have been applying a lot) and 2 paid collections that resulted in a denial. My scores hoover around 731. 

A day later I received a survey and gave some low scores and also stated how disappointed I was that the LO wouldnt even take my call for an explanation of my credit report. Not even an hour later I get a call from a senior loan officer who spent 20 minutes apologizing and explaining why they denied my app. He ended the call by approving me for the power rewards card with a limit of 4500. 

Super excited to be in with Penfed. I will definitley use this opportunity to build a solid relationship with them. Now just waiting on NavyFed to get back to me on my verfication for membership and Ill be all set!!!

[Aduke1122]

Great recon success and congrats

[AverageJoesCredit]

Now thats how to turn a false negative into a positive. Great job and shame shame for Pf for not even transfer to a a LO. But thats my favorite part about PF, their willingness to look abit deeper. Enjoy it, good luck with Navy

[Anonymous]

Super congrats rashaad & that is why PenFed is so awesome!!! 😊

[thummel]

Penfed is great! Congrats

[padme]

Congrats for never taking no for an answer

[kugel]

Congrats
How many inquiries u have ?

[Anonymous]

Penfed is awesome! Congratulations on your success and never giving up!

[Anonymous]

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@kugel wrote:
Congrats
How many inquiries u have ?

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Thank you! And I have 14 via TU, 11 EQ, 7 EX

Im not sure what report they pulled but Im guessing TU based off what Ive read in this forum. 

[Anonymous]

Congrats on working for your approval!!
PenFed pulls EQ to generate their NexGen score. I've been very pleased with them since joining, especially for their willingness to try to be helpful and how friendly they are to work with