@ccpat wrote:Hello,
I have a Penfed account. I have a checking, savings, auto loan and overdraft line of credit. My score took a hit recently and I'm now at 632 (Penfed score). I received a Power Cash Rewards Visa application code in the mail.
Two questions: What is the easiest CC to get? Do I have a better chance for approval since I have other accounts?
I think all their cards have the same underwriting?
I think you may have a better chance if you get your scores up, e.g. reduce utilization. Besides scores, they will look at your Income, DTI Debt To Income, etc.
If they are targeting you, odds are probably pretty good on approval. I don't think any of their cards have different underwriting requirements except for secured cards, affinity cards that require you to be a member of a particular group, or military only cards (although I believe my Defender is no longer available to new applicants).
@ccpat wrote:I have a Penfed account. I have a checking, savings, auto loan and overdraft line of credit. My score took a hit recently and I'm now at 632 (Penfed score). I received a Power Cash Rewards Visa application code in the mail. Don't think it's preapproval.
Two questions: What is the easiest CC to get? Do I have a better chance for approval since I have other accounts?
How old are your PenFed banking accounts?
I don't think one card is easier to get than others, so apply for what you want.
Yes, you have a much better chance since you have accounts and got a mailer.
There was just a similar thread and approval on PenFed earlier today.
I posted a detailed analysis of PenFed's lending towards the end.
See this link:
https://ficoforums.myfico.com/t5/Credit-Cards/PenFed-Power-Cash-Rewards/td-p/6018576
