PenFed New Card - Credit Bureau Reporting

[LawStudentCivilis]

The following information may be a little helpful for some as a DP.  PenFed reported my new card approximately 20 days from the date of approval, and 9 days from the date of receipt/activation. 

A week or so after approval I wondered to myself about a rough time frame when new cards are typically reported.  I don't remember coming across this information from my many searches on this forum.  So hopefully this is useful to someone.

TransUnion has not updated, or it may not have been reported to TransUnion just yet.  Time will tell.

[blindambition]

Each lender is quite different in relation to first reporting. Cap one and Amex can be two statements. Whereas Syncrony and Barclays can be literally 3 days to appear.

DP always help to see lenders habits and changing patterns. Also help with choosing best time for application.

[LawStudentCivilis]

@blindambition  Glad to help! I know PenFed is perceived to be unpredictable so adding any relevant info can help piece together the puzzle.

[TheFIGuy]

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@LawStudentCivilis wrote:

The following information may be a little helpful for some as a DP.  PenFed reported my new card approximately 20 days from the date of approval, and 9 days from the date of receipt/activation. 

A week or so after approval I wondered to myself about a rough time frame when new cards are typically reported.  I don't remember coming across this information from my many searches on this forum.  So hopefully this is useful to someone.

TransUnion has not updated, or it may not have been reported to TransUnion just yet.  Time will tell.

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Thanks, OP!

To add my own DP's:

PenFed Gold Approved 10/25/20, ~20/days later, the Card reported TU only so far. I have no gotten an alert from Credit Karma for EQ, and EX 100% hasn't reported as I pay for their monthly 3 CB monitoring.

Hopefully, this helps!

[LawStudentCivilis]

@TheFIGuyInteresting, exactly 20 days for us both but with reverse bureaus.  Have you pulled your free credit reports from annualcreditreport.com?  You can pull all three bureaus for free once a week for the remainder of 2020.  Note these are your full reports, scores are not included.

[TheFIGuy]

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@LawStudentCivilis wrote:

@TheFIGuyInteresting, exactly 20 days for us both but with reverse bureaus.  Have you pulled your free credit reports from annualcreditreport.com?  You can pull all three bureaus for free once a week for the remainder of 2020.  Note these are your full reports, scores are not included.

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@LawStudentCivilis No, I just had EX credit monitoring pull all three, and PenFed was on TU only. That was after the notification and update from Credit Karma regarding the new account showing on TU. I assumed EQ would be the first to show the update, but I was wrong. Are all three of your reports showing PenFed now?

Funny thing I decided to apply for US Bank Altitude GO right before PenFed reported to TU. Luckily USB pulled EX for me, but still, it was CLOSE call!

[LawStudentCivilis]

@TheFIGuyI got the info from annualcreditreport.com.  No, it has not updated Transunion yet.  I do have creditkarma and a few other credit monitoring, but no notifications just yet.

[M_Smart007]

As another DP .. Since the beginning of Covid-19

Penfed had failed to update My CC or PL for a few statements.

Then it was erratic/sporadic .. finally for an EX update,

The long wait times on hold, I just said forget it and,

I opened a dispute. (I know you should call the lender first)

Well, got them to update .. I think they are finally on track now.

Looks like both the CC and PL are updating as they should.

[LawStudentCivilis]

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@M_Smart007 wrote:

As another DP .. Since the beginning of Covid-19

Penfed had failed to update My CC or PL for a few statements.

Then it was erratic/sporadic .. finally for an EX update,

The long wait times on hold, I just said forget it and,

I opened a dispute. (I know you should call the lender first)

Well, got them to update .. I think they are finally on track now.

Looks like both the CC and PL are updating as they should.

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That's interesting, I wonder if anyone else had a similar issue.  It sounds like they just stopped reporting. No telling how long that would have continued if you didn't take action. What stuck out to me is once you disputed the incorrect reporting, they had no trouble reporting regularly after that.   I can't tell if this is isolated or more common for others. Thanks for sharing, I will keep an eye out.  I have not used my card so there's nothing to report so far.

[blindambition]

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@LawStudentCivilis wrote:

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@M_Smart007 wrote:

As another DP .. Since the beginning of Covid-19

Penfed had failed to update My CC or PL for a few statements.

Then it was erratic/sporadic .. finally for an EX update,

The long wait times on hold, I just said forget it and,

I opened a dispute. (I know you should call the lender first)

Well, got them to update .. I think they are finally on track now.

Looks like both the CC and PL are updating as they should.

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That's interesting, I wonder if anyone else had a similar issue.  It sounds like they just stopped reporting. No telling how long that would have continued if you didn't take action. What stuck out to me is once you disputed the incorrect reporting, they had no trouble reporting regularly after that.   I can't tell if this is isolated or more common for others. Thanks for sharing, I will keep an eye out.  I have not used my card so there's nothing to report so far.

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They weren't the only ones falling behind in COVID era. DCU and Apple made me want to pull my hair out.