Does anyone have PenFed PLOC? I was going to try to apply for one but the website is down. I wanted to check to see if anyone has an experience with PenFed using their LOC. What does the rates look like? Do you just transfer the funds into your checking account and use them?
Starting Score: 679
Finally recieved my official approval for PenFed's Personal Line of Credit!!! I applied on Sunday thinking they would use my previous inquiry from my credit cards which they did not. I requested a limit of 5k, and the inquiry hit my Experian report. They called me Tuesday stating they needed paystubs, which I uploaded on Sunday when the lady originally told me they were needed. Not sure why they did not get the first set of paystubs, but the next time I submitted I attached them to the application. It was still showing conditionally approved today so I called this afternoon, and the customer service rep said they hadn't reviewing the paystubs yet and she would call underwriting to get them to review it. She then returned and stated underwriting said I shold recieve a decision within an hour via email. Ten minutes later I recieved a text and email saying congratulations you are approved. I have successfully secured two credit cards with 7500 credit limits and 5k PLOC with Navy Fed within the last 2 weeks of signing up for new membership! Feels great to be able to request for credit and not get a denial.