cancel
Showing results for 
Search instead for 
Did you mean: 

Oh PenFed you just made my month...again!!!

Auto Loans for ANY Credit Situation. Immediate Response.
Advertiser disclosure
Highlighted
Established Contributor

Oh PenFed you just made my month...again!!!

So after getting approved on recon last week for PenFed's American Express, 9K SL after a flat out denial, I started thinking today...I wonder if there's any way they might be able to extend me a personal loan to pay off my existing loan with Avant at an exorbitant 36% interest rate. I know, I know, horrible. But I will say, they granted me the loan in February when I was at a 605 score and no one else would touch me. I knew the positive effect it would have on my utilization to pay off credit card debt and combined with the fact I had my only collection removed shortly thereafter I thought, well, no problem, I'll be able to refi out of that loan with my new 680 score. Little did I know at that time that Avant only pulls a new credit report after 9 months. I felt stuck and frustrated. 

 

Fast forward to today. I called PenFed this afternoon.  I explained they just approved me last week for an Amex and that I was interested in a personal loan to pay off  my high interest loan. I said I understood that it'll probably be a new HP, and I was fine with that (PS they used the same hard pull from 7/1). I just wanted to see if they could help me. We chatted for a minute. She put the request through the system. Immediate decline. Before telling me that I warned her that my student loans weren't reporting correctly so the system may reject me. She said I'm way ahead of you! I just put your application from declined to pending and I'm going to take this to a loan officer to see if they'll grant you an approval. I figured she'd have to get back with me tomorrow. Nope! 5 minutes later she came back with an approval for the full requested amount, $11K, no proof of income required, nothing! Less than half of my current interest rate, no origination fee or PPP. They're mailing a check out today and should have by Friday! I'm in absolute shock it was so easy and they are saving me $250/mth to boot!! I normally hate Monday's. And after the synchrony madness on Friday, I've been more than a little grumpy. But this has more than made up for it!

 

i can't  thank MF members enough for being so generous in sharing your wisdom and data points. I am truly thankful! 

Started rebuilding 8/2015. Current Fico 8 Scores 9/17: TU FICO: 698 (from 646 3/15/16) | EX FICO: 689 (from 617 3/15/16) | EQ FICO: 670 (from 614 3/15/16). Discover Miles: $10K | Amex PRG | Amex BCE $2K | Amex SPG $2K | Citi Aadvantage $7K | JetBlue Plus MC $3.9K | Walmart MC $3.5K | Marvel MC $5K | NFCU CashRewards $15K | CareCredit $12K | PenFed Amex $9K | USAA Limitless Visa Sig $6K | NFCU goRewards $20K | NFCU Amex $10.4K | NavCheck $13.5K | Blispay $4K | QS $9.5K | Pier 1 $21.1K | RH $20.7K | JCrew $16.8K | Wayfair $4.9K | Pottery Barn $19.5K | Discover IT $4.1K | Nord. Visa Sig $17K | USAA Visa Plat $2.5K | Neiman Marcus $6.4k | Amex Delta Reserve $1k | Saks $15K | VS $2.2K | Target $1K | Macy's $20K | Bloomies $16K | West Elm $12.4K | PP Credit (Comenity) $4.4K
Message 1 of 22
21 REPLIES 21
Community Leader
Super Contributor

Re: Oh PenFed you just made my month...again!!!

Wow! Simply amazing! Happy for ya! Congrats all aroundSmiley Happy
#ChaseCreditCardHobby Enthusiast
2022
!
Message 2 of 22
Moderator

Re: Oh PenFed you just made my month...again!!!

Awesome job.. What APR did you get out of curiosity?

Message 3 of 22
Established Contributor

Re: Oh PenFed you just made my month...again!!!

awesome,, congrats! If you haven't already, pls post your data points on baller's penfed thread.

 

Best of luck!

Message 4 of 22
Established Contributor

Re: Oh PenFed you just made my month...again!!!


@AverageJoesCredit wrote:
Wow! Simply amazing! Happy for ya! Congrats all aroundSmiley Happy

Thank you so much, I really appreciate that! It's definitely been a good day! 

Started rebuilding 8/2015. Current Fico 8 Scores 9/17: TU FICO: 698 (from 646 3/15/16) | EX FICO: 689 (from 617 3/15/16) | EQ FICO: 670 (from 614 3/15/16). Discover Miles: $10K | Amex PRG | Amex BCE $2K | Amex SPG $2K | Citi Aadvantage $7K | JetBlue Plus MC $3.9K | Walmart MC $3.5K | Marvel MC $5K | NFCU CashRewards $15K | CareCredit $12K | PenFed Amex $9K | USAA Limitless Visa Sig $6K | NFCU goRewards $20K | NFCU Amex $10.4K | NavCheck $13.5K | Blispay $4K | QS $9.5K | Pier 1 $21.1K | RH $20.7K | JCrew $16.8K | Wayfair $4.9K | Pottery Barn $19.5K | Discover IT $4.1K | Nord. Visa Sig $17K | USAA Visa Plat $2.5K | Neiman Marcus $6.4k | Amex Delta Reserve $1k | Saks $15K | VS $2.2K | Target $1K | Macy's $20K | Bloomies $16K | West Elm $12.4K | PP Credit (Comenity) $4.4K
Message 5 of 22
Regular Contributor

Re: Oh PenFed you just made my month...again!!!

Talk about #Winning! Congrats!

Walked into the garden 8/10/16
Moonwalking and Twirling My Way to 800 | Current: 07/24/16 EQ 658 TU 678 Exp 636 | Short Term Goal 700s end of 2016 | Long Term 800
Message 6 of 22
Established Contributor

Re: Oh PenFed you just made my month...again!!!


@CreditCuriousity wrote:

Awesome job.. What APR did you get out of curiosity?


Thanks so much, CreditCuriousity! I'm so thankful to be out from under that big payment with Avant.

 

They gave me a 17.99% rate, which is sooo much better than where I'm at now. I figure I'll give it till the end of the year and should be able to refi to an even lower rate! The NexGen score they gave me for my Amex approval was 669. 

Started rebuilding 8/2015. Current Fico 8 Scores 9/17: TU FICO: 698 (from 646 3/15/16) | EX FICO: 689 (from 617 3/15/16) | EQ FICO: 670 (from 614 3/15/16). Discover Miles: $10K | Amex PRG | Amex BCE $2K | Amex SPG $2K | Citi Aadvantage $7K | JetBlue Plus MC $3.9K | Walmart MC $3.5K | Marvel MC $5K | NFCU CashRewards $15K | CareCredit $12K | PenFed Amex $9K | USAA Limitless Visa Sig $6K | NFCU goRewards $20K | NFCU Amex $10.4K | NavCheck $13.5K | Blispay $4K | QS $9.5K | Pier 1 $21.1K | RH $20.7K | JCrew $16.8K | Wayfair $4.9K | Pottery Barn $19.5K | Discover IT $4.1K | Nord. Visa Sig $17K | USAA Visa Plat $2.5K | Neiman Marcus $6.4k | Amex Delta Reserve $1k | Saks $15K | VS $2.2K | Target $1K | Macy's $20K | Bloomies $16K | West Elm $12.4K | PP Credit (Comenity) $4.4K
Message 7 of 22
Established Contributor

Re: Oh PenFed you just made my month...again!!!


@AhmedInMD wrote:

awesome,, congrats! If you haven't already, pls post your data points on baller's penfed thread.

 

Best of luck!


Thank you so much AhmedInMD! Smiley Very Happy and thank you for the reminder, I'll definitely add my data points to the thread! I know that's such an invaluable resource! 

Started rebuilding 8/2015. Current Fico 8 Scores 9/17: TU FICO: 698 (from 646 3/15/16) | EX FICO: 689 (from 617 3/15/16) | EQ FICO: 670 (from 614 3/15/16). Discover Miles: $10K | Amex PRG | Amex BCE $2K | Amex SPG $2K | Citi Aadvantage $7K | JetBlue Plus MC $3.9K | Walmart MC $3.5K | Marvel MC $5K | NFCU CashRewards $15K | CareCredit $12K | PenFed Amex $9K | USAA Limitless Visa Sig $6K | NFCU goRewards $20K | NFCU Amex $10.4K | NavCheck $13.5K | Blispay $4K | QS $9.5K | Pier 1 $21.1K | RH $20.7K | JCrew $16.8K | Wayfair $4.9K | Pottery Barn $19.5K | Discover IT $4.1K | Nord. Visa Sig $17K | USAA Visa Plat $2.5K | Neiman Marcus $6.4k | Amex Delta Reserve $1k | Saks $15K | VS $2.2K | Target $1K | Macy's $20K | Bloomies $16K | West Elm $12.4K | PP Credit (Comenity) $4.4K
Message 8 of 22
Established Contributor

Re: Oh PenFed you just made my month...again!!!


@Fabucredit wrote:
Talk about #Winning! Congrats!

Thank you, Fabucredit! Celebrating with a yummy steak and a really great 80's movie LOL! 

Started rebuilding 8/2015. Current Fico 8 Scores 9/17: TU FICO: 698 (from 646 3/15/16) | EX FICO: 689 (from 617 3/15/16) | EQ FICO: 670 (from 614 3/15/16). Discover Miles: $10K | Amex PRG | Amex BCE $2K | Amex SPG $2K | Citi Aadvantage $7K | JetBlue Plus MC $3.9K | Walmart MC $3.5K | Marvel MC $5K | NFCU CashRewards $15K | CareCredit $12K | PenFed Amex $9K | USAA Limitless Visa Sig $6K | NFCU goRewards $20K | NFCU Amex $10.4K | NavCheck $13.5K | Blispay $4K | QS $9.5K | Pier 1 $21.1K | RH $20.7K | JCrew $16.8K | Wayfair $4.9K | Pottery Barn $19.5K | Discover IT $4.1K | Nord. Visa Sig $17K | USAA Visa Plat $2.5K | Neiman Marcus $6.4k | Amex Delta Reserve $1k | Saks $15K | VS $2.2K | Target $1K | Macy's $20K | Bloomies $16K | West Elm $12.4K | PP Credit (Comenity) $4.4K
Message 9 of 22
Valued Contributor

Re: Oh PenFed you just made my month...again!!!

Very nice ...Congrats Smiley Happy. Penfed is my favorite CU!!!

Message 10 of 22
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.