PenFed Approval

[BAD_UP]

Congrats on the Penfed Approval🎉👍

[2ski]

Great thanks for the info. I'm going to continue to follow the thread. Keep us in the loop.
Congratulations again!

[Anonymous]

Sounds great. Congrats!

[PicoFico]

@2ski 

One other mention. My listed income was net not gross.

I'm self employed llc without payroll (business income is my income) and I figured if a POI came, it would be much easier to argue in that regard than the opposed. (Schedule C vs. 1099).

[2ski]

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@PicoFico wrote:

@2ski 

One other mention. My listed income was net not gross.

I'm self employed llc without payroll (business income is my income) and I figured if a POI came, it would be much easier to argue in that regard than the opposed. (Schedule C vs. 1099).

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I have been researching PenFed quite a bit, and it seems like they don't ask for POI.
I'm in the same boat as you are. I am considering hiring a payroll service to have the paystubs for CU's like AOD that seem to be a requirement for their UW for approvals. I could be wrong here, but PenFed doesn't seem to request POI that often. Maybe others can chime in about their experience with being self-employed and apping PenFed. I think this will be valuable to all the members that are self employed.

[coreyb80]

Congrats on both approvals!

[AverageJoesCredit]

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@2ski wrote:

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@PicoFico wrote:

@2ski 

One other mention. My listed income was net not gross.

I'm self employed llc without payroll (business income is my income) and I figured if a POI came, it would be much easier to argue in that regard than the opposed. (Schedule C vs. 1099).

---

I have been researching PenFed quite a bit, and it seems like they don't ask for POI.
I'm in the same boat as you are. I am considering hiring a payroll service to have the paystubs for CU's like AOD that seem to be a requirement for their UW for approvals. I could be wrong here, but PenFed doesn't seem to request POI that often. Maybe others can chime in about their experience with being self-employed and apping PenFed. I think this will be valuable to all the members that are self employed.

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Penfed wont request POI if they are satisfied with what they see upon application but i would always be ready to provide it if asked especially credit Unions.

[cashorcharge]

That's a nice SL approval!  That's terrific!  Congratulations on your approval!! 🎉🥂

[Elpadrino1]

Very nice SL! Congrats on your approval!!!

[mgood]

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@2ski wrote:
Ihave been researching PenFed quite a bit, and it seems like they don't ask for POI.

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They asked me for POI. When I got an instant approval for the Gold Visa and then turned right around and applied for the Platinum Rewards, that one went to review, and they asked for copies of my last two pay stubs.