No credit card required
Browse credit cards from a variety of issuers to see if there's a better card for you.
What did you App for (CC, Auto...)? CC
- Approved or Declined? Approved
- Date of app?11/09
- EQ FICO at app? 775
- # of Inquiries at app? 5
- Any Derogs at app :0
- Oldest Account Age? 10 yrs
- Newest Account Age? 2 mths
- AAoA at app? 6.5yrs
- Highest CL at app? $21000
- EQ Utilization Percentage? 3%
- Requested CL? 20K
- Instant Approval, LO Review or Decline? LO
- Income Verification Required? Yes
- Any Counter Offer from PenFed? No
- If declined, reason given?
- Any comments you think helpful? Extended a $20K CL after verifying income which took about 7 days.
What did you App for (CC, Auto...)? CC - Platinum Rewards Visa
- Approved or Declined? Approved
- Date of app?1/11/10
- EQ FICO at app? 730
- # of Inquiries at app? 2
- Any Derogs at app :0
- Oldest Account Age? 5.5 yrs
- Newest Account Age? 7 mths
- AAoA at app? 2.5yrs
- Highest CL at app? $8300
- EQ Utilization Percentage? 26%
- Requested CL? 15K
- Instant Approval, LO Review or Decline? Instant Approval
- Income Verification Required? No
- Any Counter Offer from PenFed? No
- If declined, reason given?
- Any comments you think helpful? Went to Approved after application completed. Whether that means approved for the requested amount or something else, I'm not sure yet. Will confirm when I receive the card package.
- What did you App for (CC, Auto...)? Platinum Rewards Visa
- Approved or Declined? Approved for $17,500
- Date of app? 4/16/2010
- EQ FICO at app? 694
- # of Inquiries at app? 1
- Any Derogs at app: One paid medical collection
- Oldest Account Age? 5 Years, 10 Months
- Newest Account Age? 10 Months
- AAoA at app? 2 Years
- Highest CL at app? $15,000
- EQ Utilization Percentage? Less then 1%
- Requested CL? Did not give one, Phone App, She did not ask
- Instant Approval, LO Review or Decline? LO Review
- Income Verification Required? Yes latest two paystubs and W2
- Any Counter Offer from PenFed? NA
- If declined, reason given? NA
- Any comments you think helpful?
Just called to get me PIN number setup for a brand new savings account (setup 3 days prior). The lady asked if I would like to App (I was going to hold off a couple of weeks) and I did. Came back saying "tenative approval" but I needed to fax in some income verification. Faxed it within minutes. Approved the same day. Been waiting to do this for years just afraid like most people. Glad I did it. Just can't wait to get my Card. BTW I do PIF all my other cards each month, she even asked me that when I was doing the application over the phone.
- What did you App for (CC, Auto...)? CC
- Approved or Declined? Decline
- Date of app? 4/17/2010
- EQ FICO at app? 725 TU 704 EQ 2/2010
- # of Inquiries at app? 2
- Any Derogs at app: no
- Oldest Account Age? 19yr 11 mo
- Newest Account Age? 3yr 6 mo
- AAoA at app? 12
- Highest CL at app? 6400
- EQ Utilization Percentage? 46
- Requested CL? 3000
- Instant Approval, LO Review or Decline? Decline
- Income Verification Required? NO
- Any Counter Offer from PenFed? NO
- If declined, reason given? 1 AMT OWED, 2 Lack recently established accounts, 3 Proportion of bal to credit too high
- Any comments you think helpful? Wow I thought my credit score would carry this. do have balances on 12 accounts looking to consolidate and save interest. UTIL is 46 now down from 79 not that long ago. A followup call to Penfed revealed that they have a guideline that a maximum of 20% of annualized income be used on unsecured debt. By this measure I am at about 43% so that explains my decline.
What did you App for (CC, Auto...)? CC
- Approved or Declined? Approved
- Date of app? 6Apr2010
- EQ FICO at app? 708
- # of Inquiries at app? 12
- Any Derogs at app: No
- Oldest Account Age? 9 yrs
- Newest Account Age? 6 mos
- AAoA at app? 3 yrs
- Highest CL at app? 15k
- EQ Utilization Percentage? 1%
- Requested CL? 5k
- Instant Approval, LO Review or Decline? Not instant
- Income Verification Required? No
- Any Counter Offer from PenFed? Yes
- If declined, reason given?
- Any comments you think helpful? I initially applied for a cli becuase I received a bunch of preapprovals for the first time from penfed. I have the penfed cash reward visa with 15k and I decided to request a 5k cli to make it 20k. i really did not want a new account but they counter my request with a 5k penfed amex and I accepted since they already did a hard inq. I would not have applied if I knew the peapproval will result in a hard inq. Many members here have said they did not get a hard inq if it was through preapproval
- What did you App for (CC, Auto...)? Platinum Cash Back Rewards which eventually became Premium Travel Rewards AMEX
- Approved or Declined? Approved
- Date of app? 11/2009
- EQ FICO at app? 713
- # of Inquiries at app? 3
- Any Derogs at app: 3- 90 day lates in 2006, nothing else
- Oldest Account Age? 12 yrs
- Newest Account Age? 1 mth (Alliant), went on app spree, this was the 2nd app of 5 that were approved.
- AAoA at app? 7 yrs 2 mths
- Highest CL at app? 10k
- EQ Utilization Percentage? 1%
- Requested CL? 10k
- Instant Approval, LO Review or Decline? LO Review
- Income Verification Required? Yes, faxed
- Any Counter Offer from PenFed? no
- If declined, reason given?
- Any comments you think helpful? in my case, my score wasn't stellar but I think the high income might have nudged me over the iine. Also, after only having the card for 2 mths, I switched to the Penfed Premium Travel Rewards AMEX. No extra inquiry used up. They just asked me to fill out a transfer form from the site, faxed it in and they transferred my account and CL from the Cashback to the Amex. Make sure to take advantage of the 3X pts on restaurants until the end of 2010. When I signed up, they only had 3X on restaurants until end of 2009 but extended it to 2010 so they'll likely remove it soon. I've racked quite a bit of points but still not sure how easy or simple it is to redeem the pts yet. Last but not least, it may be a freak occurrence but they opened two trade lines on EQ for the same card by mistake. CSR fixed it but not until I informed them of the error.
What did you App for (CC, Auto...)? Visa Platnium Rewards Credit Card
- Approved or Declined? Approved
- Date of app? 3/31/10
- EQ FICO at app? 773
- # of Inquiries at app? 0
- Any Derogs at app: 0
- Oldest Account Age? 17 years
- Newest Account Age? 4 years
- AAoA at app? 6 years
- Highest CL at app? 3500
- EQ Utilization Percentage? 20-26%
- Requested CL? did not request specific amount, approved for $16,500
- Instant Approval, LO Review or Decline? Instant Approval
- Income Verification Required? no - have been at my current job for 4 years and 2 months
- Any Counter Offer from PenFed?
- If declined, reason given?
- Any comments you think helpful? Logged on next day to find auto loan approved for 35k at 3.99. Did not request that. I decided to accept.
@silveroak wrote:What did you App for (CC, Auto...)? Visa Platnium Rewards Credit Card
- Approved or Declined? Approved
- Date of app? 3/31/10
- EQ FICO at app? 773
- # of Inquiries at app? 0
- Any Derogs at app: 0
- Oldest Account Age? 17 years
- Newest Account Age? 4 years
- AAoA at app? 6 years
- Highest CL at app? 3500
- EQ Utilization Percentage? 20-26%
- Requested CL? did not request specific amount, approved for $16,500
- Instant Approval, LO Review or Decline? Instant Approval
- Income Verification Required? no - have been at my current job for 4 years and 2 months
- Any Counter Offer from PenFed?
- If declined, reason given?
- Any comments you think helpful? Logged on next day to find auto loan approved for 35k at 3.99. Did not request that. I decided to accept.
Yeah they must really be pushing the auto loans, I had the same thing on my within 24 hours of my CC showing up on online.
What did you App for (CC, Auto...)? VISA Platinum Cashback rewards
- Approved or Declined? Decline
- Date of app? 4/10/10
- EQ FICO at app? 754
- # of Inquiries at app? zero
- Any Derogs at app: zero
- Oldest Account Age? 15 years, 1 month
- Newest Account Age? 3 years, 5 months
- AAoA at app? 8 years
- Highest CL at app? $9500
- EQ Utilization Percentage? 33% (have since realized this % is incorrect b/c one CC is not reporting a CL)
- Requested CL? unspecified
- Instant Approval, LO Review or Decline? decline
- Income Verification Required? nope
- Any Counter Offer from PenFed? nope
- If declined, reason given? sufficiently obligated with unsecured debt
- Any comments you think helpful? I was trying to consolidate $10K of CC debt on 2 cards at 10.24% and 11.24% to this card at 4.99% (special 24mo balance transfer rate w/ no balance transfer fee through 6/10). Explained this and that I'm paying down debt. Calculated that this transfer will shave 1 month and $500 interest off my payoff plan (started snowball a year ago). Also explained that we manage property and live rent-free, so we only need DH's income and mine is extra. Didn't want hard inquiry on DH's credit report, so I didn't use his income as consideration. No go. They don't care. All they care about is util% and DTI ratio. So, now I have 1 inq on EQ rept and no CC to transfer balances. Think I'll just close my savings account at PenFed.
I finally got approved for my penfed visa platinum card. I have applied numerous times before I was finally approved, my decline reasons were:
COMMENTS: LENGTH OF TIME ACCTS ESTABLISHED
PROPORTION OF BAL-TO-LIMIT TOO HIGH
TOO MANY ACCOUNTS WITH BALANCES
I put my school tuition on a chase card at 0% for a year and only paid the minimum with the intention of paying it off when the 0% ended, hence the high balance to limit, the chase card is now paid off and I decided to apply again, when I first applied more recently my app was withdrawn the following day for these reasons:
COMMENTS: APPLICATION BUILT IN ERROR
PLEASE REFER TO APPLICATION 7xxxxxx. IF MEMBER WOULD LIKE TO RE-APPLY
WITHIN 60 DAYS OF ORIGINAL APPLICATION THIS MUST BE DONE IN WRITING AS
A RE-SUBMITTAL.
So I called and spoke to a CSR who informed me it was withdrawn because I had too many previous application with penfed. She gave me a fax number to resubmit a request for the application. So I did , my original app was for $4,500, but I stated in the letter I would be fine with a $500 CL. After my letter had been faxed, I then saw a pending status for $500 on my online. I then received an email from penfed requesting 2 months of prior pay stubs, which I though was a little peculiar considering it was for $500, my income is very low right now because I am only working 20hrs while attending school. So I faxed my paystubs which average about $340 every 2 weeks after tax and 401k contribution, my stated income with penfed was very much overinflated at $2,500, knowing my weakness was a very low income. Today I logged in my penfed with the mindset of seing declined, and I was amazed when I saw approved, for $3,000.
What did you App for (CC, Auto...)?
- Approved or Declined? Approved for CC
- Date of app? 05/22/10
- EQ FICO at app? Too cheap to check, last check it was in the 700's
- # of Inquiries at app? 0 on EQ
- Any Derogs at app: 0
- Oldest Account Age? 3 years
- Newest Account Age? 1 year
- AAoA at app? 1.5 years
- Highest CL at app? $2,700
- EQ Utilization Percentage? less than 5%
- Requested CL? $4,500 down to $500
- Instant Approval, LO Review or Decline? LO review
- Income Verification Required? Yes
- Any Counter Offer from PenFed? No, approved for $3,000
- If declined, reason given?
- Any comments you think helpful? See above story, I only have a discovercard and chase. The discover has been open for about 3 years with a very low balance that I pay in full and a CL of $2,000, and the chase I have had for about a year with a CL of $2,700.
I am very excited about this card, I had always used the discover open road for gas purchases and they have really trimmed the cashback. I fill up about 4 times a month with an average cost of $38 x 4 = $152 x.05 = $7.6 a month x 12 = $91 savings a year.
I am very impressed with penfeds underwriting process, they were extremely efficient and conservative to the max! The CSR I spoke with also impressed me and was very friendly and knowledgeable.