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Penfed survey turned denial into approval Promise card

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Regular Contributor

Penfed survey turned denial into approval Promise card

So the other day i applied for a promise visa and it was turned down for inquiries and length of time accounts established. My fico score for equifax was 715. Well i got survey email so i filled it out online giving an explanation for my inquiries. I explained that i was trying to replace bankcards with higher interest with lower rate ones so that i could close cards that have higher rates. I know i have way to many inquiries but i've been rebuilding my credit from the ground up. No negatives on my file. I asked for a low limit just to get in the door so i can build it up. Well the lady called and was real nice she offered me the promise visa for $700 but with a 13.99 apr. I was so excited that they are working with me. I do have a small thrifty credit line with them $500 but was never able to get a visa approval before now. This rate they gave me beats any rate on any card that i have. My next closest rate card is navy federal at 16.15. I feel like the penfed will grow and i'm going into the garden for now to get my inquiries wiped off.

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6 REPLIES 6
Senior Contributor

Re: Penfed survey turned denial into approval Promise card

Congrats that's awesome Op
Message 2 of 7
Valued Contributor

Re: Penfed survey turned denial into approval Promise card

Congratulations on a successful recon. PenFed is a great CU to be in with

State Farm Rewards (3,000) ~ Marvel MC (8,000) ~ PenFed Power Cash (10,000) ~ PenFed Promise (1,000) ~ PenFed OLOC (500) ~ Discover ($1,100) ~ Citi DC (2,200) ~ NFCU cashRewards (6,200) ~ NFCU Platinum (2,700) ~ NFCU CLOC (15,000) ~ Venture (10,300) ~ DCU Visa (5,000) ~ Chase Freedom (3,000) ~ Amex Hilton Honors (5,000) ~ Amex SPG (1,000) ~ Amex BCE (1,000) ~ Care Credit (15,000)
Current Scores (6/6/18): 697 Transunion, 659 Equifax, 674 Experian
Message 3 of 7
New Contributor

Re: Penfed survey turned denial into approval Promise card

the survey is a great opportunity to get credit products from PenFed. Congrats on your new card!
Message 4 of 7
Valued Contributor

Re: Penfed survey turned denial into approval Promise card

Congrats on your approval!!

American Express Business Gold(NPSL 10k) Chase CSP (25k) Pier 1(23.5k) BofA CR Siggy (20.8k) BofA BBR (22.1k) Amex BCP(18k) Overstock (21.1K) Lowes (17K) NFCU CLOC (15K) NFCU VS Cash (15K) Care Credit (15k) J Crew( 11.9k)Venture WMC (10.25k) Amex Everyday (10k) Chase Slate (10k) Walmart MC(10k) BB Visa (10k) Discover(9.5k☝️) PayPal Cashback Mastercard (8k) Chase FU (7.4k) Citi AAdvantage Gold World Elite (9.5K) Citi Double Cash (8.5k) Fidelity® Rewards Visa Signature® Card (6.5K) PenFed PCR (5K) PayPal Credit (4550)Discover (4.5k✌️) Kohls (3k) Chase Freedom (1500)

Mortgage May 2017 - 2 auto loans (1 PenFed and 1 Navy) Aug 2018=98K
Gardening until Aug 2020

FICO 8 Scores EX 693(7) EQ 687(9)TU 708(10)
AAOA 4yrs TCL=332,600
Message 5 of 7
Contributor

Re: Penfed survey turned denial into approval Promise card

Way to turn it around! Congrats, OP.

 



CreditXpert Scores: EX [672] | EQ [681] | TU [677] | American Express FICO 8: EX [698]

  

Message 6 of 7
Community Leader
Super Contributor

Re: Penfed survey turned denial into approval Promise card

Well done! Penfed is the best!


Daily Drivers: Penfed Platinum Rewards; NFCU GoRewards; Discover..
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