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PenFed PLOC approved

Valued Member

PenFed PLOC approved

I've been a member of PenFed for two months now.  Yesterday I applied and today I was approved for their personal line of credit in the amount of $15,000 (what I asked for).

 

My credit reports are frozen, so they must have used my original Equifax report (765) information that they had on file from when I joined two months ago. I am thrilled that I was approved!  When it was not an instant approval, I got a little nervous.

 

Message 1 of 14
13 REPLIES
Contributor

Re: PenFed PLOC approved

Congrats!!

 

Question-- Did they ask for Proof of Income (POI)?

 

Thanks!!

Message 2 of 14
Valued Member

Re: PenFed PLOC approved

No, they did not ask for proof of income.

Message 3 of 14
Valued Contributor

Re: PenFed PLOC approved

Congratulations!

Starting Scores FICO 8 (Feb '18):
EX- 519, TU- 530, EQ- 545

Current Scores



Message 4 of 14
Valued Member

Re: PenFed PLOC approved

NICE!  I plan to apply first of the year.

Image result for congrats gif


10/7
EQ 618
TU 636
EX 625
Message 5 of 14
Community Leader
Senior Contributor

Re: PenFed PLOC approved

Very nice OP!  Congrats on the approval.  PenFed is second only to Bank of America for me.  I've got several auto loans through them, a $40k+ Platinum Rewards Visa, and a PLOC.  They've been really good to me...and all of this is while my BK13 is still alive an well on my EQ. 

Message 6 of 14
Valued Contributor

Re: PenFed PLOC approved


@Loquat wrote:

Very nice OP!  Congrats on the approval.  PenFed is second only to Bank of America for me.  I've got several auto loans through them, a $40k+ Platinum Rewards Visa, and a PLOC.  They've been really good to me...and all of this is while my BK13 is still alive an well on my EQ. 


Congrats on the approval OP!

 

@Loquat I wish I could say the same for myself with Penfed like you can.  Glad you have done well with them! For whatever reason since I joined them in May of '06 and got the rewards card there hasn't been any growth.  No soft pulls or offers.  Of the cards I have they are the only one outside of Citi where I have this issue. 

                                            

Total Credit: $218,900Utilization: 1%AAoA: 5yrs, 5mthsInstallments: Car Lease, Marcus LoanBaddies: 0On Chop Block: Nobody NA

             
             
                          DSC-27.1K | NFC-25K | ALI-25k | WAL-10k | BoA-22k | BB-12k | NFL-15k | LOW-35k | AMX-19.3k | CHA-10k | PF-8.8k | C-DC-9.7k
Message 7 of 14
New Contributor

Re: PenFed PLOC approved

Congrats Op on a great SL

I thought, PENFED stopped isuing no more than 10,000 for new customers starting from 2018? Somebody Please put some light on this
Message 8 of 14
Community Leader
Super Contributor

Re: PenFed PLOC approved

PLOCs are a separate credit product from CCs. Potentially, if someone has a strong profile then PenFed will likely approve a PLOC for whatever that individual may qualify.

As far as CCs, while that may be the current trend or "unofficial" UW policy, there are still outliers and some individuals may still get approved beyond $10K SL...YEMV.
Message 9 of 14
New Contributor

Re: PenFed PLOC approved

Wow, that's awesome.

I thought they are not willing to give more than 10k to their new members. Thanks for the update Finstar!
Message 10 of 14