cancel
Showing results for 
Search instead for 
Did you mean: 

How conservative is PedFed when it comes to applying for their cards, inquiry or revolving sensitive

galahad15
Valued Contributor

How conservative is PedFed when it comes to applying for their cards, inquiry or revolving sensitive

Was just curious, how conservative is PedFed when it comes to applying for their cards, for example are they especially sensitive regarding inquiries, total exposure, or on revolving debt?  Tried searching the forum intially for more info and I believe the threads I came across mentioned that they were in fact conservative, but was unable to locate much on their specific areas of what the things were that they particlarly dislike in particular, and which could lead to a potential denial of an app, etc.?  Thanks!


Message 1 of 7
6 REPLIES 6
AllZero
Super Contributor

Re: How conservative is PedFed when it comes to applying for their cards, inquiry or revolving sensi


@galahad15 wrote:

Was just curious, how conservative is PedFed when it comes to applying for their cards, for example are they especially sensitive regarding inquiries, total exposure, or on revolving debt?  Tried searching the forum intially for more info and I believe the threads I came across mentioned that they were in fact conservative, but was unable to locate much on their specific areas of what the things were that they particlarly dislike in particular, and which could lead to a potential denial of an app, etc.?  Thanks!


@galahad15  Have you checked out the mega thread? Start at last page and work your way forwards.

 

For your reading pleasure. Pentagon Federal Credit Union Data Share

Message 2 of 7
galahad15
Valued Contributor

Re: How conservative is PedFed when it comes to applying for their cards, inquiry or revolving sensi

Thanks @AllZero !  Smiley Happy


Message 3 of 7
AllZero
Super Contributor

Re: How conservative is PedFed when it comes to applying for their cards, inquiry or revolving sensi


@galahad15 wrote:

Thanks @AllZero !  Smiley Happy


@galahad15  You are welcome. Not knowing your inquiries or new accounts, I would think your profile should be more than okay?

Message 4 of 7
M_Smart007
Epic Contributor

Re: How conservative is PedFed when it comes to applying for their cards, inquiry or revolving sensi

I was originally denied by Penfed for having "to much available credit" ..

They eventually warmed up to me. lots of new accts. and several inquiries.

Message 5 of 7
KJinNC
Valued Contributor

Re: How conservative is PedFed when it comes to applying for their cards, inquiry or revolving sensi

They just mailed me a preapproved offer for their gold card ... which is their low-interest card ... with a 17.99% interest specified on the preapproval ... which is the maximum possible interest rate for that card right now.

 

So, I perceive them as being a bit conservative, but then again, my profile is weird. Good luck!


FICO Resilience Index: 66. Cards: 12/24, 1/12, 1/6. Accounts including loans: 13/24, 2/12, 1/6. At first accidentally, later deliberately, I used what I call the "thick-start" build method, which leads to heavy credit-seeking for a while with the goal of coming out of it without needing to build a thin profile for years. There are pros and cons. Thread describing method
Cards (oldest to newest)


Authorized user / Corporate / Auto loan / Personal loan

Card CLs total $119,100, not counting the AU card. The AU card brings the total to $145,600. In March 2019, card CLs totaled $0.
CU and bank memberships: Coastal Credit Union, member since 1987, direct deposit; PenFed, member since 2019; Navy Federal, member since 2020; USAA, member since 2020; Chase Bank, member since 2020.

Closed but still on reports: American Express Delta Gold, $1,000, 09/19-10/20 | American Express Hilton Aspire, $3,100, 09/19-12/20 | Citi secured, $200, 04/19-09/19 | Capital One secured, $300, 04/19-08/19 | My Jewelers Club, $5,000, 05/19-08/19 | Green Dot Primor, $300, 05/19-08/19 | Self Lender secured $500 loan, 04/19-01/20 | Unsecured personal loan from Coastal, $1,000, 06/19-08/19.
Note: My signature is updated frequently, and updates appear on all instances of my signature including on old posts.
Message 6 of 7
DebtStinks
Established Contributor

Re: How conservative is PedFed when it comes to applying for their cards, inquiry or revolving sensi

@KJinNC  Yes, PenFed is a different breed and (unlike many other creditors) doesn't solely factor your credit score for things like APR. They pay more attention to relationship, DTI, PTI, diversity in history, etc........and your credit score. To sum up, simply having an 800+ credit score will not necessarily result in their lowest apr.

 

Hope this helps and best of luck to all with PenFed. They've been rather good to me!

PenFed Visa Signature $35000 (Opened 6/20) - NFCU More Rewards AMEX (Opened 1/19) $17000 - NFCU Platinum $15000 (Opened 1/21) - Capital One World Elite MC $11200 (Opened 11/17) - TTCU Platinum Visa $10000 (Opened 10/18) - Uber Visa $5000 (Opened 1/19) - Target Store Card $2000 (Opened 10/18) - Floor & Decor Store Card $36500 (Opened 10/18)
Total CL - $131700

CH7 BK Filed 8/1/17 Discharged 11/7/17

Scores as of 2/18/21:




Inquiries Last 12 Months:
Message 7 of 7
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.