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PenFed Power Cash Rewards Success

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PenFed Power Cash Rewards Success

Data Point for you all:

 

Just got a PenFed approval for 10k, my biggest by far during this rebuild.  They pulled TU when I opened a checking account this morning in preparation for an eventual app months from now.  Their CSR told me, "We try to pull your credit only once in a 90 day period. We do not

guarantee that it will not pull your credit a second time though."  So I went ahead and APP'd.   YAY! Instant Approval.

 

My TU line looks like this

FICO8 651
FACO 737
Inquires 8
Lates 2
Utilization 9%
AAoA 4.5
Oldest 21y7m
Total Open 11
Total Closed 4
Loans 2

 


Sitting tight, product changing, and pumping CLIs till October 2020 when I start Chase Apps
8/1/19:
18 INQ
12 INQ
11 INQ
08/30/18: Ex 530 / TU 540 / EQ 545
Message 1 of 10
9 REPLIES 9
Senior Contributor

Re: PenFed Power Cash Rewards Success

Congrats on your approval and very nice SL !!!!

 

8-2019 / Fico 8 EX 8013 , EQ 8016 , TR 810
Amex ED 22k , CSP 17k , Discover iT 12.5k , Fifth Third Bank S2C 12k , BofA Cash Rewards 10k , Avianca Vida 10k , State Farm Good Neighbor Visa 10k , Citi DD 6k , Union Bank Rewards 5k
Message 2 of 10
Established Contributor

Re: PenFed Power Cash Rewards Success

Congratulations - this is the 2nd post I've seen where I had someone's scores beat and was Denied by PenFed. Even on RECON. Welp maybe next year for me or they just HATE ME! hahaha Maybe you have higher than 709 TU FICO 09? 

Started 6/6/2018 EX - 588 ; EQ - 667 ; TU 575

Updated 12/2018


Message 3 of 10
Valued Contributor

Re: PenFed Power Cash Rewards Success

Congrats on your PenFed Power Cash Rewards approval!Smiley Very Happy

Currently: Gardening since 12/29/2019




Message 4 of 10
Community Leader
Mega Contributor

Re: PenFed Power Cash Rewards Success


@BrandonLane wrote:

Congratulations - this is the 2nd post I've seen where I had someone's scores beat and was Denied by PenFed. Even on RECON. Welp maybe next year for me or they just HATE ME! hahaha Maybe you have higher than 709 TU FICO 09? 


Score in many ways means nothing to Penfed. I have or had anywhere from 790-810  this past year on my Eq fico 9,  i might as well apped  in a monkey suit. They seem much more interested in high income or someone with not alot of credit. Again my observations but not far offSmiley Wink

#ChaseCreditCardHobby Enthusiast
2022
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Message 5 of 10
Established Contributor

Re: PenFed Power Cash Rewards Success

You might be right about that! I do have 6 figure income with literally $0 debt! But oh well...maybe next year! 

Started 6/6/2018 EX - 588 ; EQ - 667 ; TU 575

Updated 12/2018


Message 6 of 10
Valued Contributor

Re: PenFed Power Cash Rewards Success

Sweet approval. Congratulations!

Starting Score: (5/24/2018) -- FICO 08 EXP: 643; FICO 08 TU: 642; FICO 08 EQ: 677
Current Score (01/18/2020): FICO 08 EXP: 744; TU: 748; EQ: 748
2019 Goal Score: 800 across the board


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Message 7 of 10
Contributor

Re: PenFed Power Cash Rewards Success

You might be on to something, didn't include salary, but 6 figures.


Sitting tight, product changing, and pumping CLIs till October 2020 when I start Chase Apps
8/1/19:
18 INQ
12 INQ
11 INQ
08/30/18: Ex 530 / TU 540 / EQ 545
Message 8 of 10
Frequent Contributor

Re: PenFed Power Cash Rewards Success

@dashoops

 

Super Congrats on your PenFed $10,000 Power Cash Rewards approval! Smiley Very Happy

 

Thanks so much for sharing your data points with us.

As I'm sure you know, PenFed normally hard pulls

Equifax FICO 9 for their lending decisions. The fact that

they pulled your TU8 in preparation for a future app is very

interesting. Your EQ8 is your highest score, but you still got

approved for a $10k PCR anyway. Very well done! Smiley Very Happy

 

Thanks again for sharing your experience with us.

Please keep us posted on any future PenFed apps. Smiley Very Happy

Message 9 of 10
Senior Contributor

Re: PenFed Power Cash Rewards Success

Congratulations!

Starting Scores FICO 8 (Feb '18):
EX- 519, TU- 530, EQ- 545

Current Scores



Message 10 of 10
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