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No love from PenFed...ever?

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Anonymous
Not applicable

No love from PenFed...ever?

So I've been with PenFed for almost 6 years now and I haven't once noticed any of the targeted offers from them. Not that it's a huge deal to me but I for the life of me I can't figue out why they wouldn't send me anything. Long time member, no negative marks on my report, clean auto loan with them (no lates, always pay extra/early), high credit score, low utilization. At best I get flyers in the mail maybe twice a quarter but they aren't targeted in any way, shape or form.

 

I know their offers aren't guaranteed but I'd like to see something at least once (please? lol). The only things I can think of off the top of my head would be:

  1. I don't have any credit cards with them, just savings and auto
  2. I had offers years ago when I first opened the account and never noticed
  3. Maybe when I was accepted, I was a borderline decline and because of that the system flags me as "unworthy"?
  4. I only had one 1 credit card up until last summer. Since then I've added 3

Love to hear any other possibilities!

Message 1 of 6
5 REPLIES 5
Anonymous
Not applicable

Re: No love from PenFed...ever?

What is the Next Generation EQ score that they have for you!

Message 2 of 6
Anonymous
Not applicable

Re: No love from PenFed...ever?


@Anonymous wrote:

So I've been with PenFed for almost 6 years now and I haven't once noticed any of the targeted offers from them. Not that it's a huge deal to me but I for the life of me I can't figue out why they wouldn't send me anything. Long time member, no negative marks on my report, clean auto loan with them (no lates, always pay extra/early), high credit score, low utilization. At best I get flyers in the mail maybe twice a quarter but they aren't targeted in any way, shape or form.

 

I know their offers aren't guaranteed but I'd like to see something at least once (please? lol). The only things I can think of off the top of my head would be:

  1. I don't have any credit cards with them, just savings and auto
  2. I had offers years ago when I first opened the account and never noticed
  3. Maybe when I was accepted, I was a borderline decline and because of that the system flags me as "unworthy"?
  4. I only had one 1 credit card up until last summer. Since then I've added 3

Love to hear any other possibilities!


I opened my account with PenFed about 2 weeks ago, and was turned down for a CC.  I asked to speak to a Loan Officer and we had a surprisingly long, informative chat.  She said that as someone with lower tier credit ( I appreciate her not calling it derogatory names, lol), the best thing I could do would be to establish a good banking relationship, and that I should re-apply in 90 days.  Now, you've had a good loan history with them, but maybe if you come in a little dirty you have to reach out to them instead of the other way around.  Have you applied and been denied anything?

 

Message 3 of 6
OnTheRebound
Established Contributor

Re: No love from PenFed...ever?

You are not the only one. My wife too has been with PenFed for over 6 years. No targeted offers ever. One $1K auto CLI on her Visa about 3 or 4 years ago.

 

We have:

Visa $6K CL

Savings Less than $500.00

CD's Over $75K

NG Score 881

 

They did offer once, while on the phone for a different matter, a personal loan secured by a CD. Thanks, but no thanks.

We used the Visa heavily once upon a time until they nerfed the rewards. Now I just put gas on it.

 

The only reason I can think of for the lack of offers, so I have read, is that at the time she opened the account back in early 2010 she had a Bankruptcy reporting and they automatically put her in the "no special offers for you and that's where you will stay" category. All her reports have been pristine the last 3 years and all her Fico's are over 800 and her NG score sits at 881.

 

ETA: She also had a paid tax lien reporting at the time she applied.

 

 

 

Amex BCE $11.1 / Citi Diamond Preferred WMC $12K / Citi Double Cash WMC $3.8K / Comenity Total Rewards Visa $2.5K / Citi Home Depot $5K / AU- Amex BCP $12K / Chase Freedom Visa $11014.00 / PenFed Platinum Rewards Visa Signature $6K / GE Lowes $10K
myFico Scores on 10/03/2014
Eq 798 / Exp 811 / Trans 814
CCT Fico 08 on 1/3/16 - Trans 786 / Exp 793 / Eq 797
Message 4 of 6
Anonymous
Not applicable

Re: No love from PenFed...ever?


@Anonymous wrote:

What is the Next Generation EQ score that they have for you!


831

 


@Anonymous wrote:
Now, you've had a good loan history with them, but maybe if you come in a little dirty you have to reach out to them instead of the other way around.  Have you applied and been denied anything?

Never applied for anything other than my auto loan, which went through just fine iirc but maybe that's possible as well.

 


@OnTheRebound wrote:

The only reason I can think of for the lack of offers, so I have read, is that at the time she opened the account back in early 2010 she had a Bankruptcy reporting and they automatically put her in the "no special offers for you and that's where you will stay" category.

ETA: She also had a paid tax lien reporting at the time she applied.


I think this may be the closest. I've never had any negative marks on my account but my score definitely wasn't what it is today. If I had to guess, my score was maybe in the 650-699 range when I was approved for membership (high CC utilization back then). The loan came roughly 6 months later so the score likely went up a few points by then.

Message 5 of 6
takeshi74
Senior Contributor

Re: No love from PenFed...ever?


@Anonymous wrote:

So I've been with PenFed for almost 6 years now and I haven't once noticed any of the targeted offers from them. Not that it's a huge deal to me but I for the life of me I can't figue out why they wouldn't send me anything. Long time member, no negative marks on my report, clean auto loan with them (no lates, always pay extra/early), high credit score, low utilization.


New accounts?  People tend to overlook them for some reason.

 


@Anonymous wrote:

I don't have any credit cards with them, just savings and auto


Doesn't matter.  It's never just the accounts that you hold with a given creditor but your entire credit profile.

 


@Anonymous wrote:
te> Maybe when I was accepted, I was a borderline decline and because of that the system flags me as "unworthy"?

Also doesn't matter despite the opular meme over at Creditboards.  I joined with a BK and high revolving utilization.  Once my reports were clean they had no problem approving me for a new card with a high limit.  I didn't get offers until the new credit and credit seeking activity died down and even then I've only received a quarterly offer once.  Just as with any creditor, if your profile qualifies it qualifies.  It's your credit profile at time of consideration that matters.

 


@Anonymous wrote:

I only had one 1 credit card up until last summer. Since then I've added 3


That could be your problem or at least part of your problem.  My card with them was approved even though I had added a number of new accounts but PenFed tends to be quick to cite pyramiding for new accounts.

Message 6 of 6
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