@Anonymous wrote:
I am 1 year and 2 months post Ch 7 BK discharge. I have banked with PenFed for over 10 years and I have a savings account + vehicle loan with them. My other cards are in my siggy and I have kept my utilization relatively low at 16%. PenFed pulled Equifax, and as of today my Version 9 Score is reporting at 704. I was approved for a $12.5k limit with an interest rate of 16.99%. I do not intend to revolve a large balance on this card. It was more my goal to continue to rebuild my credit. I wasn't exactly sure if I would even be approved given that I'd read a few instances where others were being denied because they weren't far enough post discharge. Could be my salary too though at $97,707 annually. I have my car note and my student loan payment which is relatively low. Other than the bankruptcy, I have been pretty mindful of my spending. I'm hoping to begin the process of purchasing a home at the end of the year, so this will be my last credit card app. I don't feel like I need anything more than what you see in my siggy (still traumatized from the whole bankruptcy experience). Good luck to all and hopefully, this helps.
Congratulations! That is great news for both you and the community! It seems, based on recent threads, that PenFed is relaxing a little bit on their BK policies as for what I recall it was up until recently 2 years or more post DC. I've seen a few that were 1 year after discharge getting approved. Happy to hear it!
It's a great card! Enjoy it! I plan on applying for it later in the year.
