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PenFed FCU Pre-Approval offer

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Valued Member

PenFed FCU Pre-Approval offer

Received a pre-approval offer in the mail from Pen Fed for their Power Cash Rewards. Wasn't planning on applying for any cards for a while since my feelings were still hurt from Navy FCU not increasing my $20k limit. I figured what the hell, I'd apply and see what I'd get approved for. I was pleasantly surprised and it was instant. My Equifax score was 786 at the time. I had to call in because of identity verification. They just wanted my DL, copy of social, and a utility bill. When I called and spoke to

the rep, I asked about applying for another credit card using the same pull. I was told that I would get declined because $25k was their limit on credit cards. She did tell me if opened a checking account and kept $500 as my balance, I'd get 2% cash back instead of 1.5%. She also told me about a promotion for new members. I had to deposit stimulus money of $1,200 and use my debit card 5 times, and I earn $200. No brainer. Just use my debit card 5 times for $10, and bam 💥 $200. I did also apply for a separate personal line of credit too. Waiting to hear back. Stay tuned. 

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Message 1 of 30
29 REPLIES 29
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Super Contributor

Re: PenFed FCU Pre-Approval offer

Congratulations on your approval!
Message 2 of 30
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Frequent Contributor

Re: PenFed FCU Pre-Approval offer

Congratulations!! Smiley Happy

Message 3 of 30
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Established Contributor

Re: PenFed FCU Pre-Approval offer

Congratulations on your PenFed Power Cash Rewards approval and nice SL!



Current FICO 8:

Credit Age (TU):

Inquiries:


Message 4 of 30
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Mega Contributor

Re: PenFed FCU Pre-Approval offer

@kjonesjr00, Nice ApprovalSmiley Happy

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Senior Contributor

Re: PenFed FCU Pre-Approval offer

Congrats on your sweet PenFed PCR approval!

Currently: Gardening since 04/2020




Message 6 of 30
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Valued Contributor

Re: PenFed FCU Pre-Approval offer

Congrats on the approval!

Message 7 of 30
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Established Contributor

Re: PenFed FCU Pre-Approval offer

Congrats 🎈🎉🎊 on your approval @kjonesjr00

CARDS: Discover It | QuickSilver One | Open Sky | Kohl’s | BB&T Spectrum Cash Rewards | BB&T Bright | NFCU CashRewards | NFCU More Rewards | AMEX BCE | OverStock
Starting Scores 05/2019: EQ:519, EX:525, TU:574
Message 8 of 30
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Valued Contributor

Re: PenFed FCU Pre-Approval offer

Congrats! on a sweet approval. 25k Wow Smiley Happy

Starting Score: (5/24/2018) -- FICO 08 EXP: 643; FICO 08 TU: 642; FICO 08 EQ: 677
Current Score (05/20/2020): FICO 08 EXP: 743; TU: 751; EQ: 759
2020 Goal Score: 760 across the board


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Message 9 of 30
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Established Contributor

Re: PenFed FCU Pre-Approval offer

@kjonesjr00  Super Congrats on your Penfed Power Cash Rewards $25,000 approval! Smiley Very Happy

 

If PenFed sent you a preapproval offer via snail mail, then they've had their eye

on you for quite some time now. Getting the max 25k limit right out of the gate

is quite the accomplishement indeed. I also noticed they didn't ask for proof of income.

Just your DL, SSN card and utility bill. With a 786 EQ9 I'm sure that played a factor.

Congrats again on your success. Thanks for sharing! Smiley Very Happy

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