PENFED but not in the army or anything like that

[MarineVietVet]

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@Abester000 wrote:
how do i recon them in this case... i cannot write a letter at all.... i failed english in high school lol

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There are a few examples here.

http://ficoforums.myfico.com/fico/board/message?board.id=generalcredit&thread.id=2682

[haulingthescoreup]

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Abester000 wrote:
how do i recon them in this case... i cannot write a letter at all.... i failed english in high school lol

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This is in "Frequently Requested Threads", which is stickied at the top of many of the boards:

Try Reconsideration - It Works!

Seriously, though, you are not yet where PenFed wants you to be for extending credit. As for the supposed delinquency in the last 12 months, you are entitled to a free pull of your full EQ report, as they used it as the reason for denying credit. I think you'll have to wait for a letter to get a number you can use, though. But you need to look at a full report to see if anything has snuck on.

[haulingthescoreup]

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marinevietvet wrote:

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@Abester000 wrote:
how do i recon them in this case... i cannot write a letter at all.... i failed english in high school lol

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There are a few examples here.

http://ficoforums.myfico.com/fico/board/message?board.id=generalcredit&thread.id=2682

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Beat me to it!

[Anonymous]

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IOBA wrote:

My suggestion with Penfed -- have an excellent relationship with them for 6 months.  Penfed, like most CU's, will offer more credit after the relationship has seasoned 6-12 months.

If they say no for now, just wait 6 months.  Your log in on the website will let you know what offers are available to you.

Recon them -- not usually successful, even with documentations.  Penfed REALLY wants you to be with them for 6 months before going further.  There are exceptions... 

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This is generally untrue. Most people who app credit with PenFed have zero experience with them at the time they make their first credit request. Whether any amount of experience can overcome credit deficiencies or not is a matter for considerable debate. Time heals all wounds, so putting distance between credit blemishes and the present is always going to be a plus. Other PenFed no-no's such as too much available revolving credit (in relation to income) have reportedly not yielded to time passage even when re-app'ing with a pre-app offer. YMMV!

[IOBA]

That could be very true.    

I was sharing what Penfed had told me, when I asked how to build a relationship with them.   Their advice was to wait 6 months, have no baddies with them, and see what they offer.

I was not in a hurry for anything (except for my deposits to be released immediately instead of having a partial hold)!

It's great that so many people can share their experiences and knowledge.   

[Anonymous]

Every new member is on probation with PenFed for six months. This probationary period has nothing to do with credit app's and everything to do with your newness as a member. As far as credit app's are concerned it is either thumbs up or thumbs down based on whatever you present at time of app. As far as pre-app offers are concerned you may get offers at six months. Or it might be one year. It could also be never. In my case I got secured offers at six months plus and unsecured offers at one year plus. The unsecured offers were well worth waiting for. I was offered $8.2K which I could have taken as a CLI, but elected to accept as a separate CC for BT purposes.

[Percy]

as far as probation for 6 months.... can i just leave my savings acocunt with the 5 dollars for 6 months and if that time comes they give me offers? or do i got to show activity.

[Anonymous]

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@Abester000 wrote:

as far as probation for 6 months.... can i just leave my savings acocunt with the 5 dollars for 6 months and if that time comes they give me offers? or do i got to show activity.

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That part is up to you. You can certainly let it sit and see what happens. Offers are delivered through the website. They do not mail or email pre-app offers.

[Percy]

is penfed a good credit union to get a checking account with? because im thinking of canceling my bofa checking or just keeping it on the side and just having Direct Deposit goto penfed

[Anonymous]

I have both BofA and PenFed checking. Neither of them is my main checking account - that would be Wachovia Bank. I have a local CU checking account as well. So no need to choose - you can have both.

That said, I would wait until you have been a PenFed member for six months before fully committing to their checking account. This way you can avoid the frustrations of being a probationer.