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Well, just shy of 3 years from filing CH7 on 8/1/17 and PenFed approved me for the PCR card w/2% cash back and an APR of 16.99%...not the highest or lowest APR, but they're all 0% (someone here recently quoted this and it's stuck with me) when you don't carry a balance. I initially applied for the Gold card, but even with the lowest apr being 8.99, I was still given 15.49. After speaking to a rep, she told me that she's seen SOLID 800+ score customers not get the lowest apr, so evidently PenFed looks at much more than credit score. Nevertheless, I decided to close the Gold card and apply for the PCR 2% cash back card...I'm a bit shocked that they gave a 35k credit line to someone just shy of 3 years from filing CH7, but I do use my credit cards for EVERYTHING and they see my account history/payments on other cards every month for the last couple years, so I'll take it.
I've always thought PenFed was much more conservative than NFCU, for example, but I guess they've "loosened their strings."
For all of those CH7 BKers, there is hope when rebuilding and having the BK still on your reports.
Wooohooo! Congratulations on your impressive SL!!
Major league congrats !!
Congratulations on your PenFed Power Cash Rewards approval and massive SL!
huge approval for someone 3 years out of BK that is for sure. congrats on the card.
Also that is true what the CSR stated as have solid 800 scores and never get their best rates alot more goes into who gets those than score alone what those factors are only penfed knows...
@DebtStinks wrote:Well, just shy of 3 years from filing CH7 on 8/1/17 and PenFed approved me for the PCR card w/2% cash back and an APR of 16.99%...not the highest or lowest APR, but they're all 0% (someone here recently quoted this and it's stuck with me) when you don't carry a balance. I initially applied for the Gold card, but even with the lowest apr being 8.99, I was still given 15.49. After speaking to a rep, she told me that she's seen SOLID 800+ score customers not get the lowest apr, so evidently PenFed looks at much more than credit score. Nevertheless, I decided to close the Gold card and apply for the PCR 2% cash back card...I'm a bit shocked that they gave a 35k credit line to someone just shy of 3 years from filing CH7, but I do use my credit cards for EVERYTHING and they see my account history/payments on other cards every month for the last couple years, so I'll take it.
I've always thought PenFed was much more conservative than NFCU, for example, but I guess they've "loosened their strings."
For all of those CH7 BKers, there is hope when rebuilding and having the BK still on your reports.
WOW Congrats! I thought they gave me a good SL. I got hopes my card will grow. :-)
WOW! Congrats, that was a huge whammy! 👍
I also noticed your on the cusp to breaching another a milestone ... 100K say hello to Debtstinks! (Soon)
Just reading some of these post, you guys make things seem easy.
Congratulations on the whopper Penfed approval!