Will Penfed approve me for their CC with a 5 year old paid charge-off?

[aftermath]

My EQ is in the mid 700's.  Everything else on my report is clean except 1 stubborn GEMB/Banana Republic that just wont come off no matter what I do. 

It shows $0 balance and last date of deliquency is from 2005 with a status of Bad debt/Collection.

I know that they are a very CONSERVATIVE lender.

Will this result in a denial?

[DI]

PenFed denied me with pristine credit. I had to ask for a recon just to get approved for $1000.  So imagine someone with a few baddies applying.  Prob won't have an instant chance.  The rep told me my EQ score was 792.

[aftermath]

Woah...  What reason did they give you for denial?

[DI]

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@aftermath wrote:

Woah...  What reason did they give you for denial?

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Honestly, I do not know.  When I saw the status said turndown, I immediately call to ask how can I get turndown with excellent credit.  I didn't ask why I was turndown. I wanted to keep the attention focused on the positive and not the negative.  I later had to fax in my paystubs.

[umair]

WOW... I just got PENFED welcome package... I was turned down for their 12k limit promise card.... they turned down with very appropriate reasons... I fixed them and they are now waiting for me to go to SSN office and send them a letter....

I sent them a fax explaining everything... now its SSN letter that needs to be faxed and than I'll wait and watch.. they are already doing second review and it shows as pending...

Strange but I couldnt be happy they decided 12k limit... but thats what C unions are so diffrent...!!

Havent been able to speak to any SR loan officer thou !!