The PenFed rep I spoke to said they will only approve someone with an EQ score of 650 or higher. I asked about collections and he said they usually don't approve people who have any collections on their reports. When my last collection fell off my EQ report, I immediately applied for the PenFed Gold card and was approved for $8,000. I also applied for the PowerCash Rewards and was again approved for $8,000. I did this over the phone and asked the rep what my score was and he said he technically wasn't allowed to tell me, but it was about 3/4 past 6 or something like that lol. My other reports showed my EQ score as A LOT lower than 675.
If you're worried that they're going to realize they made a mistake, I highly doubt it. Correct me if I'm wrong, but I believe PenFed has their own internal scoring system? My current "FICO 9 EQ" score is 714, which is higher than any of my other scores. Congrats on your approval! PenFed is usually pretty generous once you've established a relationship with them.
I have been a PenFed convert for a while now. I was initially denied a PenFed auto loan, in Nov of 2017. I had a charge off on my report and my FICO could not have been higher than 640. I wrote a letter to be reconsidered and thoughtfully went through and pointed out that I had never been late on any auto related loan, or anything in over 5 years. In fact, I think I still have a copy of the letter I wrote somewhere.
End result: approved for $35k, at the lowest possible APR which at the time was 3.5%. It was really what gave me hope that I could turn around my credit circumstances and I still even to this day have parked that loan there, excuse the pun.