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Penfed Approval!!!

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Penfed Approval!!!


You have been approved for the PenFed Power Cash Rewards Visa Signature® card:

$20000.00 Credit limit

15.24% variable APR (Annual Percentage Rate)
So excited!!!  I started this journey last year around this time trying to rebuild my credit.  Got a couple cards last year at this time to start the rebuild process. Capital One, Discover, and Paypal MC. Highest Limit was $2,000. Received a preapproval letter in the mail last week. So, I decided to go for it over the weekend and applied. I was shocked to see the results!!
Pulled Equifax
Message 1 of 15
Valued Contributor

Re: Penfed Approval!!!

That’s a very sweeeet approval! Congratulations! Seems Penfed’s been watching this forum and saw all those 🍏 approvals and decided to join the crash the party!

BK7 dc in 01/2011 with FICO8 in the 500s

HPs EX 4 EQ 3 TU 1
AAoA 5y2m
UTIL 1% - 3%

$180K+ Total Limits

New cc TLs 1/12(11 month old) & 3/24
Message 2 of 15
Valued Contributor

Re: Penfed Approval!!!

Outstanding SL on this card!  Congrats on your successful rebuild!

Message 3 of 15
New Visitor

Re: Penfed Approval!!!

Congrats. That’s really nice starting limit.
Message 4 of 15
Community Leader
Super Contributor

Re: Penfed Approval!!!

Congrats on your approval 

EX 754 EQ 773 TU 752
Message 5 of 15
Valued Contributor

Re: Penfed Approval!!!

Awesome Approval @scm165! $20k is a very healthy limit with a 705 but we're not here to question it, RUN WITH IT!! I'm a big fan of PenFed. You got a great SL and nice APR - keep at it! 

Message 6 of 15
Established Contributor

Re: Penfed Approval!!!


tenorBam! Bam! Grand Slam!


Message 7 of 15
Regular Contributor

Re: Penfed Approval!!!

Congratulations on the approval! I applied today for the same card after receiving a pre-approval in the mail. Filled everything out online and hit send. The message came back to me that to finish my application I would need to call their toll free number. I called and was asked the basic questions they all ask, birthdate, phone number, SSN, etc...the CR asked for the pre-approval offer code and I gave that to him and he put me on hold for about 3 minutes. Came back on and told me that he was having an issue with inputing the pre-approval code and that it would take about 24 hours to straighten out. CR said he'd call me back when the problem's solved. Curious if anyone else has ever run into the same thing. Nothing in my credit file jumps out....oldest account is aged 24 years, 735 to 750 FICO, 100% payment on time, 4 inquiries, no derogs at all, solid work and income history. Guess I'll find out in 24 hours or less what the issue is. 

Message 8 of 15
Regular Contributor

Re: Penfed Approval!!!

Wow, great SL and APR! Congratulations!

Message 9 of 15
Frequent Contributor

Re: Penfed Approval!!!

Awesome and congrats! I think Penfed is relaxing a little lately. They gave me a 10k CLI and instant approval on the PC for 15K recently.

Message 10 of 15
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