How long does it take to process Application for PenFed Card?

[Red1Blue]

I applied for PenFed Visa Card. How long it takes for them to process? What is involved in the approval?

[DI]

It took mines 8 days for them to approve it.  They wanted to verify my income.  They work everyday.  The loan officer approved me on a Sunday.

[fused]

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concorduser wrote:
I applied for PenFed Visa Card. How long it takes for them to process? What is involved in the approval?

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Concord, I thought you were still in app rehab, what happened?

[Anonymous]

When I applied early last year it only took them 30 minutes to deny me!

[Red1Blue]

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@fused wrote:

Concord, I thought you were still in app rehab, what happened?

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I was just bored and nothing to do. I filled out the App expecting instant decline.

[xchap]

I was denied also high utilization 

[Scamp]

They took a few days, both times I tried (a year or so apart), to decline me for pyramiding debt.

[jenrette]

4 days. I called a few times to "push" it through.

My experience: They wanted to verify where I lived and my information. They did not want to verify my monthly income of $3030. They asked for drivers license, social security and a utility bill. They wanted it notarized and faxed in. I applied on a Wednesday night and it got approved on a Sunday afternoon.

I was approved for the Visa Cash Rewards for $4,000 @ 13.??% 

Message Edited by jenrette on 03-05-2010 05:22 PM

[Kay_Cee]

I deposited $10.00 in a Share Account last July, applied for their Visa and was appoved instantly with a $5,000 line of credit.  I don't care so much about the limit on their credit card as much as I want a relationship with a CU for the next time I buy a car.  They also approved me for a $35,000 car loan when I applied for the credit card, which I didn't take advantage of.

[manyquestions]

Somewhere between instant and 10 days.  Depends how busy they are.  If nothing happens within two weeks you want to call them because it never takes longer than that. 

It can be instant, or a day or two and then approval, or a couple days then need more info either identity verification docs or income verification docs, then once you fax that stuff maybe another day or two. 

So it varies quite a bit depending on how many apps are coming in and how much they want from you for documentation.