pedfed application

[Anonymous]

I applied to penfed yesterday and was denied..i did apply for their (hardest card to get)....i have heard that you are hit with one inq when you join the credit union and that they do not pull an additional inq when you apply for a credit card or loan...but does this still apply if i were to try for a Lesser card with them????

[Anonymous]

Don't view as a harder card or an easier card. PenFed eithers gives you credit or they don't. Rather than submitting another app thru the wenbsite you need to pick up the phone and call them to ask for a recon. This sometimes works. If you provide some details of your credit profile we can give you some idea of the likelihood for your approval.

[Anonymous]

Thank you for your reply.....I applied with no inq....an eq score of 680 and a tu score of 705...

All my cards are paid as agreed and in good standing....

I have 5 of 10 cards showing balances.. 3 of those at under $5.00......and 2 at about 50% uti..

no baddies...no derogs...length of credit history dropped from 13 years to about 8 years when an old good account dropped off

I have been at the same job for 16 years and have lived in the same home for all of that 16 years...good paying stable job

No other expenses...(morgage...car note..or loans)

what are they looking for if you can tell??

[Anonymous]

another question..if i were to apply for a loan or a different card is that an additional inq????

[Anonymous]

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@Anonymous wrote:

Thank you for your reply.....I applied with no inq....an eq score of 680 and a tu score of 705...

All my cards are paid as agreed and in good standing....

I have 5 of 10 cards showing balances.. 3 of those at under $5.00......and 2 at about 50% uti..

no baddies...no derogs...length of credit history dropped from 13 years to about 8 years when an old good account dropped off

I have been at the same job for 16 years and have lived in the same home for all of that 16 years...good paying stable job

No other expenses...(morgage...car note..or loans)

what are they looking for if you can tell??

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First of all another app should not mean another inquiry. That would be unusual.

Second, forget anything other that EQ - that is all that matters.

Mainly, they probably don't like seeing (or the computerized app reviewer doesn't like seeing) all those cards with balances and the two with high UTIL. Doesn't mean your bad - it is just how it looks. Don't app further now. Call during business hours tomorrow and ask how to recon your app. I assume you app'ed the rewards Visa. How much of a CL did you ask for? The thing with PenFed is the app's are (for the most part) based in individual income and not HH income and the income you report will have a large impact on the credit line they will offer you. DTI and other available credit are very important considerations for them. If you already have a few higher CL's from others you might not get much from PenFed no matter how high your score is.