Pen Fed BT's what the heck

Jnbmom · ‎03-26-2018

I tired to do some BT to take advantage of the 0% but when I went to do it online I got an error code. I called CS and he tried to do them for me and said they wouldn't go through said he saw an "odd" code and then told me the computer system was having trouble processing new cards with balance transfers and it should be up in a few days ok . Now I get a message that reads as follows:

"We regret to inform you that we are unable to process your request for a balance transfer to the PenFed credit card account you have selected. We have carefully considered your request, but were unable to approve due to the following reason(s): No credit file Our credit decision was based in whole or in part on information obtained in a report from the consumer reporting agency listed below: Equifax P.O. BOX 740241 ATLANTA, GA 30374 PH: 1-800-685-1111 You have a right under the Fair Credit Reporting Act to know the information contained in your credit file at the consumer reporting agency. The reporting agency played no part in our decision and is unable to supply specific reasons why we have denied credit to you. You also have a right to a free copy of your report from the reporting agency, if you request it no later than 60 days after you receive this notice. In addition, if you find that any information contained in the report you receive is inaccurate or incomplete, you have the right to dispute the matter with the reporting agency. If you have any questions concerning this matter, please contact a Member Service Representative at Pentagon Federal Credit Union, Box 1432, Alexandria, VA, 22314-2032 or toll free"

NO CREDIT FILE?? Something seems off here? Any clues or is anyone else having this problem?

EXP 780 EQ 791TU 795

NRB525 · ‎03-26-2018

How long have you been with PenFed?

What is the age of your file? Oldest account?

How many open cards?

High Bal Jan 2009 $116k on $146k limits 80% Util.
Oct 2014 $46k on $127k 36% util EQ 722 TU 727 EX 727
April 2018 $18k on $344k 5% util EQ 806 TU 810 EX 812
Jan 2019 $7.6k on $360k EQ 832 TU 839 EX 831
March 2021 $33k on $312k EQ 796 TU 798 EX 801
May 2021 Paid all Installments and Mortgages, one new Mortgage EQ 761 TY 774 EX 777
April 2022 EQ=811 TU=807 EX=805 - TU VS 3.0 765

Jnbmom · ‎03-26-2018

I just recently joined Pen Fed 3/2018

My file dates back to the 90's

I currently have 8 open accounts.

My EQ file is not locked or frozen.

Something sounds off here dont know why i can't do a BT and the CS says it's glitch and to try in a week (very odd) but they send me messages I have no EQ file?

EXP 780 EQ 791TU 795

UpperNwGuy · ‎03-27-2018

This is probably a problem at Equifax. You should pull your credit report from Equifax and review the information. If something is in error, PenFed's request won't go through. In fact, your own request might not go through unless you do it over the phone.

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Jnbmom · ‎03-27-2018

Thanks. I pulled my report last night no problem so I just find it strange that CS said it's a glitch but the messages they sent me say no credit file. What a mystery?

EXP 780 EQ 791TU 795

Anonymous · ‎03-27-2018

What is your FICO score? If your score drops below a certain number. I'm thinking below 660 they won't BT.

If your score is fine then you have to look deeper.

Jnbmom · ‎03-27-2018

My score was 695 a few days ago I don't see it dropping to far down.

EXP 780 EQ 791TU 795

shoegal · ‎03-29-2018

@Jnbmomwrote:
I tired to do some BT to take advantage of the 0% but when I went to do it online I got an error code. I called CS and he tried to do them for me and said they wouldn't go through said he saw an "odd" code and then told me the computer system was having trouble processing new cards with balance transfers and it should be up in a few days ok . Now I get a message that reads as follows:

"We regret to inform you that we are unable to process your request for a balance transfer to the PenFed credit card account you have selected. We have carefully considered your request, but were unable to approve due to the following reason(s): No credit file Our credit decision was based in whole or in part on information obtained in a report from the consumer reporting agency listed below: Equifax P.O. BOX 740241 ATLANTA, GA 30374 PH: 1-800-685-1111 You have a right under the Fair Credit Reporting Act to know the information contained in your credit file at the consumer reporting agency. The reporting agency played no part in our decision and is unable to supply specific reasons why we have denied credit to you. You also have a right to a free copy of your report from the reporting agency, if you request it no later than 60 days after you receive this notice. In addition, if you find that any information contained in the report you receive is inaccurate or incomplete, you have the right to dispute the matter with the reporting agency. If you have any questions concerning this matter, please contact a Member Service Representative at Pentagon Federal Credit Union, Box 1432, Alexandria, VA, 22314-2032 or toll free"

NO CREDIT FILE?? Something seems off here? Any clues or is anyone else having this problem?

I got the same message, today. I was helping my mom do a balance transfer and the card is online but she hasn't received it yet. She was able to do her first balance transfer when she was approved but it didn't let her do the other 2.

So we had to wait a few days for the card to show up online. Today, it finally did and I helped her do the transfer, then it came back with an error code to contact them. She had me sent them a message (her English is not very good) and they haven't replied, yet.

But, she got a message back that they couldn't process the balance transfer because she has "no credit file" just like your message. Her EQ 8 and 9 are the same score 746 so it's not that and her credit file is over 30 years old. I think their system is experiencing some weird glitch like you said.

She wanted to take advantage of the balance transfer offer that ends on Saturday but I'm not sure if they'll fix this problem by then.

Update: She authorized them to call me and they just did as I was typing this. lol The CSR said that they are having problems with the transfers and that my mom won't be able to do the balance transfer until the card is activated which will be after the offer expires.

The good news is that they extended the balance transfer offer until Septmber 2018 so that she has time to do it when the card is activated. I'm not sure if that offer is for everyone or just for her for the trouble. You should call an ask.

Anonymous · ‎03-29-2018

Remember (if you havent read other topics), PenFed has a very glitchy system and many have encounter problems with many different issues before...including myself. If you're credit history is long enough (90s) you should call back and try to get it approved.

I hate that PenFed has to check for your credit for a BT, but, to each their own. Don't like it lol

Jnbmom · ‎03-29-2018

Thanks the CS rep said their was a glitch with new cards and BTs so I should try next week. My card is already activated so I am not sure if the glitch is about the no credit file or not . I may call but he said to wait til next week. And yes why do they pull for BTs they just saw my credit ???

EXP 780 EQ 791TU 795