cancel
Showing results for 
Search instead for 
Did you mean: 

Penfed credit card.. what happens if I do not send my paystubs for verification?

Yaidyr22
Established Member

Re: Penfed credit card.. what happens if I do not send my paystubs for verification?

I just wanted to apply for low interest rates. But I can not complain. I have a perfect relationship with AMEX Smiley Happy I always approve of them and it is not anything
Message 11 of 18
doinit1
Valued Contributor

Re: Penfed credit card.. what happens if I do not send my paystubs for verification?


@Yaidyr22 wrote:
I just wanted to apply for low interest rates. But I can not complain. I have a perfect relationship with AMEX Smiley Happy I always approve of them and it is not anything

You do have a pretty nice line up presently with some great lenders!!

American Express Business Gold(NPSL 10k) Chase CSP (25k) BofA CR Siggy (20.8k) BofA BBR (22.1k) Amex BCP(4.1k) Overstock (21.1K) Lowes (17K) NFCU CLOC (15K) NFCU VS Cash (15K) Care Credit (15k) J Crew( 11.9k)Venture WMC (10.25k) Amex Everyday (1k) Chase Slate (10k) Walmart MC(10k) BB Visa (10k) Discover(4.5k☝️) PayPal Cashback Mastercard (8k) Chase FU (7.4k) Citi AAdvantage Gold World Elite (9.5K) Citi Double Cash (8.5k) Fidelity® Rewards Visa Signature® Card (6.5K) PenFed PCR (5K) PayPal Credit (4550)Discover (500✌️) Kohls (3k) Chase Freedom (1500)

Mortgage May 2017 - 2 auto loans (1 PenFed and 1 Navy) Aug 2018=98K
Gardening until June 2021

FICO 8 Scores EX 700 EQ 696 TU 703
AAOA 5.2yrs TCL=268,700
Message 12 of 18
Yaidyr22
Established Member

Re: Penfed credit card.. what happens if I do not send my paystubs for verification?

Update: apparently my social security information put it incorrect and I had to do the process again and tomorrow I hope to reply
Message 13 of 18
doinit1
Valued Contributor

Re: Penfed credit card.. what happens if I do not send my paystubs for verification?

lol...not laughing at you but I am sure you giggled a bit too....good luck...Smiley Happy

American Express Business Gold(NPSL 10k) Chase CSP (25k) BofA CR Siggy (20.8k) BofA BBR (22.1k) Amex BCP(4.1k) Overstock (21.1K) Lowes (17K) NFCU CLOC (15K) NFCU VS Cash (15K) Care Credit (15k) J Crew( 11.9k)Venture WMC (10.25k) Amex Everyday (1k) Chase Slate (10k) Walmart MC(10k) BB Visa (10k) Discover(4.5k☝️) PayPal Cashback Mastercard (8k) Chase FU (7.4k) Citi AAdvantage Gold World Elite (9.5K) Citi Double Cash (8.5k) Fidelity® Rewards Visa Signature® Card (6.5K) PenFed PCR (5K) PayPal Credit (4550)Discover (500✌️) Kohls (3k) Chase Freedom (1500)

Mortgage May 2017 - 2 auto loans (1 PenFed and 1 Navy) Aug 2018=98K
Gardening until June 2021

FICO 8 Scores EX 700 EQ 696 TU 703
AAOA 5.2yrs TCL=268,700
Message 14 of 18
Yaidyr22
Established Member

Re: Penfed credit card.. what happens if I do not send my paystubs for verification?

Lol
Message 15 of 18
DaveInAZ
Senior Contributor

Re: Penfed credit card.. what happens if I do not send my paystubs for verification?


@Yaidyr22 wrote:
Update: apparently my social security information put it incorrect and I had to do the process again and tomorrow I hope to reply

Their screen for putting in income & other personal info is confusing. I took early retirement Social Security at age 62 but still work part time for my local county. My Powercash CC app was instantly rejected and gave dumb reasons - utilization is too high (it's 11%), length of credit history (I'm 65), so I called into to recon. Turns out I was being rejected because it only picked my part time salary income of $8500, so the real reason for rejection was insufficient income (yeah, who can live on only $8500/yr?). I had mixed up where to input the amount of Other Income and the Source. Approved when I fixed that.

 

And I'm with you on having to provide 2 paystubs for a CC app, I have never had to produce that for a credit card, over a dozen approvals over the past several years. For a car loan yes, for a CC, no.

Message 16 of 18
pipeguy
Senior Contributor

Re: Penfed credit card.. what happens if I do not send my paystubs for verification?


@Yaidyr22 wrote:
I canceled the application with a representative by phone

Good choice !

 

You always remain in control of you apps and accounts - if in fact a lender wants to push back, you always have the option of saying nevermind. You also know that if you decide to try again in a year or two should you choose, that they might (probably) request the same documentation (you'll know in advance). 

Message 17 of 18
Yaidyr22
Established Member

Re: Penfed credit card.. what happens if I do not send my paystubs for verification?

It will not be that Penfed is more focused on income and not so much on credit. I am 36 years old and I have several cards mostly Amex. The only thing is that my use is 4%. 700 credit score.
Message 18 of 18
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.