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Penfed Gold Card approved - bit disappointed

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Valued Member

Penfed Gold Card approved - bit disappointed

SL of 10k with APR @15 percent. Disappointed with the rate - thought I could do better with EQ at 761, util less than 3 percent.

Wondering what would qualify for the best rate? Can I product change to the card with rewards this early?

Message 1 of 18
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Super Contributor

Re: Penfed Gold Card approved - bit disappointed

Congratulations on your approval!

Message 2 of 18
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Valued Member

Re: Penfed Gold Card approved - bit disappointed

TY. Good news is I got to know what the latest EQ score is as I just saw an email from PenFed and they had the score at 780.

 

Which hopefully meant the 60 day derog back on Nov 13 is deleted!

 

Now off to see if 800s are possible!

Message 3 of 18
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Valued Contributor

Re: Penfed Gold Card approved - bit disappointed


@sb48 wrote:

SL of 10k with APR @15 percent. Disappointed with the rate - thought I could do better with EQ at 761, util less than 3 percent.

Wondering what would qualify for the best rate? Can I product change to the card with rewards this early?


Congrats on the new card. I am considering this one as well.

 

From my experience, APR has been determined by other aspects of my report (e.g. INQs, new accounts, AAoA, AAoCC, etc.)

 

How does your full report look? What makes up that score?

Message 4 of 18
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Super Contributor

Re: Penfed Gold Card approved - bit disappointed


@sb48 wrote:

TY. Good news is I got to know what the latest EQ score is as I just saw an email from PenFed and they had the score at 780.

 

Which hopefully meant the 60 day derog back on Nov 13 is deleted!

 

Now off to see if 800s are possible!


You're welcome. Congratulations on your score success. PenFed provided the EQ9 score.

 

$1 you can obtain your 3 bureau FICO 8 scores and reports at Experian or CreditCheckTotal (part of Experian). Cancel in 7 day or less to avoid the re-occurring monthly charge. Wash, Rinse, and Repeat as needed.

AnnualCreditReport. Free weekly 3 bureau online reports through April 2021.

Message 5 of 18
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Super Contributor

Re: Penfed Gold Card approved - bit disappointed

Congrats !

 


3/2016 EX 644 CK-TU 642 CK-EQ 660 WalMart- 671.
>08/2020 CCT EX 830 TU 848 EQ 844

I'd get it one piece at a time
And it wouldn't cost me a dime
You'll know it's me when I come through your town
I'm gonna ride around in style
I'm gonna drive everybody wild
'Cause I'll have the only one there is around.

- Johnny Cash One Piece At A Time
Message 6 of 18
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Mega Contributor

Re: Penfed Gold Card approved - bit disappointed

Congratulations on your Approval..

Message 7 of 18
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Valued Member

Re: Penfed Gold Card approved - bit disappointed

@lhcole77 
EQ inquiries - the latest two was last week when I asked for a CLI (CITI BB), and DCU (card and motorcycle loan) Jan 2020; not counting those there were five from Sept 18.
From 7/20 pull
AAoA: 5 years 4 months
Oldest account: 14 years, most recent Mar 2020.



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Valued Contributor

Re: Penfed Gold Card approved - bit disappointed


@sb48 wrote:

@lhcole77 
EQ inquiries - the latest two was last week when I asked for a CLI (CITI BB), and DCU (card and motorcycle loan) Jan 2020; not counting those there were five from Sept 18.
From 7/20 pull
AAoA: 5 years 4 months
Oldest account: 14 years, most recent Mar 2020.




Total speculation here, but could be new account and INQs. Those are part of "credit seeking" scoring, and when my APRs have been the highest, my new accounts and INQs were also the highest.

Message 9 of 18
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Established Contributor

Re: Penfed Gold Card approved - bit disappointed

Congratulations on your approval!!







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