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Is this a Joke PenFed??

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Established Contributor

Is this a Joke PenFed??

Ok so I wanted to apply for the AMEX card with PenFed as it wouldn't be a hard pull (it wasn't). I wasn't approved and got this letter in my messages. HOW ON EARTH IS MY SCORE 564?? I have zero collections, zero late payments, NOTHING derogatory! My utilization is at 7% and none of my other cards are above 30% utilized. I feel like this has to be a mistake... I've been checking my credit score on the PenFed site, and it's still stuck at 719 since 1/2019, so obviously they don't update it every month. I can't get all 3 reports for another 6 days, but Credit Karma updated recently and shows nothing bad on my EQ report, so it's not like a collection made it's way on there. Kinda freaking out here guys! 

 

I’m probably never finding that garden everyone keeps talking about.



Officially collection free as of 3/19/19!!
STARTING SCORES: 377 (11/2013) & 580 (3/2018)
Message 1 of 29
28 REPLIES 28
Established Contributor

Re: Is this a Joke PenFed??

Do you have a myFico subscription with all the various score versions? If so, you can look at one of your old reports and see where the bankcard scores are at. Mine are not that much different from Fico 8, but each profile does vary with what hurts various versions. Might want to check there and see if one of those scores may be on the low side. Of course, there is also a chance they have some internal number they are going off of too.

 

It may not be the bankcard versions because of the range in your image. The bankcards top out at 900. I wonder if this is your Fico 9 score? 

Started Rebuild 4/2018: EX 616| TU 604| EQ 621

Current 09/17/19:


Goal Score: 750+
Message 2 of 29
Established Contributor

Re: Is this a Joke PenFed??


@dynamicvb wrote:

Do you have a myFico subscription with all the various score versions? If so, you can look at one of your old reports and see where the bankcard scores are at. Mine are not that much different from Fico 8, but each profile does vary with what hurts various versions. Might want to check there and see if one of those scores may be on the low side. Of course, there is also a chance they have some internal number they are going off of too.

 

It may not be the bankcard versions because of the range in your image. The bankcards top out at 900. I wonder if this is your Fico 9 score? 


PenFed uses FICO 9, I believe. I do have a subscription with EX that lets me see other score versions, but only for EX. Can't see the other 2 until next week. I just checked them and they're all in the low 700's, high 600's. Even if it is FICO 9, it doesn't make sense that it would be THAT low. There's no possible way a score can be in the 500's with no derogatories, right?

I’m probably never finding that garden everyone keeps talking about.



Officially collection free as of 3/19/19!!
STARTING SCORES: 377 (11/2013) & 580 (3/2018)
Message 3 of 29
Valued Contributor

Re: Is this a Joke PenFed??

I see in your siggy that you are officially collection free as of 3/19/19 (congrats!) -- so perhaps that is an internal score they are using (since that doesn't match or even come close to any of the scores you have listed in your sig)  and based off the old data showing the collection(s) account(s)? 

 

Since your Fico9 hasn't updated on their site since January, perhaps they haven't completed a new acccount review of your reports yet - were any of your FICOs that low prior to the collections removal?  Either that or are they have your data mixed up with someone elses... 

 

Why not send them a message and ask what score they are using and the date of the report that generated that score?   Maybe they'll reconsider with updated info... though, of course, that will probably result in a HP.    

Personal Aphorism:
"Forget What You Feel, Remember What You Deserve"


Starting FICO 8s | 09/06/2017: EX 641 ✦ EQ 634 ✦ TU 647
Current FICO 8s | 07/01/2019: EX 741 ✦ EQ 727 ✦ TU 733
Current FICO 9s | 06/01/2019: EX 753 ✦ EQ 751 ✦ TU 732
Highest FICO-8 Ever | 10/2018: 780 [on dirty report]

2019 Goal Score | 780s


My AAOA: 2.7 years not incl. AU / 2.10 years incl. AU
My AoOA: 6.5 years not incl. AU / 8.5 years incl. AU
Report Status: Clean

Tending my Garden til 2/2021


Without patience, we will learn less in life. We will see less. We will feel less. We will hear less. Ironically, rush and more usually mean less.
Message 4 of 29
Established Contributor

Re: Is this a Joke PenFed??


@thornback wrote:

I see in your siggy that you are officially collection free as of 3/19/19 (congrats!) -- so perhaps that is an internal score they are using (since that doesn't match or even come close to any of the scores you have listed in your sig)  and based off the old data showing the collection(s) account(s)? 

 

Since your Fico9 hasn't updated on their site since January, perhaps they haven't completed a new acccount review of your reports yet - were any of your FICOs that low prior to the collections removal?  Either that or are they have your data mixed up with someone elses... 

 

Why not send them a message and ask what score they are using and the date of the report that generated that score?   Maybe they'll reconsider with updated info... though, of course, that will probably result in a HP.    


I've been collection free with EQ since last year. That last collection was only on my TU and EX reports. None of my scores have been in the 500's since I first started rebuilding last year. I did have one collection late last year on my EQ report, but even with that on there, my scores were in the 640's. I think I'm going to call them today and figure this out. Just wanted to get some other opinions about it and see if it was even possible to have a 564 score with no derogs.

I’m probably never finding that garden everyone keeps talking about.



Officially collection free as of 3/19/19!!
STARTING SCORES: 377 (11/2013) & 580 (3/2018)
Message 5 of 29
Valued Contributor

Re: Is this a Joke PenFed??


@Queen_Etherea wrote:


I've been collection free with EQ since last year. That last collection was only on my TU and EX reports. None of my scores have been in the 500's since I first started rebuilding last year. I did have one collection late last year on my EQ report, but even with that on there, my scores were in the 640's. I think I'm going to call them today and figure this out. Just wanted to get some other opinions about it and see if it was even possible to have a 564 score with no derogs.


Ah... I see,  then yea,  IDK -  I wouldn't think a FICO 8, 9, or bankcard would be that low on a clean report --seems rather impossible, especially since they weren't even close to that low when you actually had collections.   Call them.  It's possible your info somehow got screwed up.   Please report back too if you don't mind.   

 

I haven't been much a PenFed fan since I opened my account with them, kind of regret it (customer service experiences have been awful for me)-- but it's only been 5 1/2 months so I'm hoping for an improved relationship as time goes on...   

 

Good Luck!! 

Personal Aphorism:
"Forget What You Feel, Remember What You Deserve"


Starting FICO 8s | 09/06/2017: EX 641 ✦ EQ 634 ✦ TU 647
Current FICO 8s | 07/01/2019: EX 741 ✦ EQ 727 ✦ TU 733
Current FICO 9s | 06/01/2019: EX 753 ✦ EQ 751 ✦ TU 732
Highest FICO-8 Ever | 10/2018: 780 [on dirty report]

2019 Goal Score | 780s


My AAOA: 2.7 years not incl. AU / 2.10 years incl. AU
My AoOA: 6.5 years not incl. AU / 8.5 years incl. AU
Report Status: Clean

Tending my Garden til 2/2021


Without patience, we will learn less in life. We will see less. We will feel less. We will hear less. Ironically, rush and more usually mean less.
Message 6 of 29
Established Contributor

Re: Is this a Joke PenFed??


@thornback wrote:

@Queen_Etherea wrote:


I've been collection free with EQ since last year. That last collection was only on my TU and EX reports. None of my scores have been in the 500's since I first started rebuilding last year. I did have one collection late last year on my EQ report, but even with that on there, my scores were in the 640's. I think I'm going to call them today and figure this out. Just wanted to get some other opinions about it and see if it was even possible to have a 564 score with no derogs.


Ah... I see,  then yea,  IDK -  I wouldn't think a FICO 8, 9, or bankcard would be that low on a clean report --seems rather impossible, especially since they weren't even close to that low when you actually had collections.   Call them.  It's possible your info somehow got screwed up.   Please report back too if you don't mind.   

 

I haven't been much a PenFed fan since I opened my account with them, kind of regret it (customer service experiences have been awful for me)-- but it's only been 5 1/2 months so I'm hoping for an improved relationship as time goes on...   

 

Good Luck!! 


Aww man I'm sorry you've had such a bad experience with them. I've spoken to some amazing customer service reps, but have gotten a few duds. I'm going to call on my lunch break and I will most certainly let you guys know what happens!

I’m probably never finding that garden everyone keeps talking about.



Officially collection free as of 3/19/19!!
STARTING SCORES: 377 (11/2013) & 580 (3/2018)
Message 7 of 29
Moderator

Re: Is this a Joke PenFed??

Not sure what model Pen Fed uses but my CU uses Fico 04 Mortgage for everything.

"If there's a lack of money in your life, understand that feeling worried, envious, jealous, disappointed, discouraged, doubtful or fearful about money can never bring more money to you, because those feelings come from a lack of gratitude for the money you have."

"Reactions are powerful creators because they contain every element needed to manifest—they're a combination of thought, belief, and feeling in action. Positive reactions create more positive things, and negative reactions create more negative things. If you can respond to negative situations calmly and lightly, instead of with emotional turbulence, what happens next in your life will be so much better."

- Rhonda Byrne

Message 8 of 29
Established Contributor

Re: Is this a Joke PenFed??

Ok so calling PenFed got me absolutely nowhere... She said she couldn't even see what credit score I had when I apped, but knows why I didn't get approved. Apparently, for the AMEX card with PenFed, you need to have a credit score of at LEAST 840!! What the fluff??

 

She said I should contact EQ because they were the one's who generated the score. Ugghh like I'm going to call the worst credit bureau there is to speak to someone who won't even know what the heck I'm talking about. Oh well! I guess I'll just have to wait until my score updates on the PenFed website in April I'm guessing?

 

I now understand your frustration with PenFed and their customer service. I feel like every time I've called lately, I speak to someone who just doesn't care and wants to get me off the phone. When I first started with PenFed, I would always talk to like the best poeple! They were always so kind and helpful and acted like the WANTED to help. Makes me sad.

I’m probably never finding that garden everyone keeps talking about.



Officially collection free as of 3/19/19!!
STARTING SCORES: 377 (11/2013) & 580 (3/2018)
Message 9 of 29
Moderator

Re: Is this a Joke PenFed??


@Queen_Etherea wrote:

Ok so calling PenFed got me absolutely nowhere... She said she couldn't even see what credit score I had when I apped, but knows why I didn't get approved. Apparently, for the AMEX card with PenFed, you need to have a credit score of at LEAST 840!! What the fluff??

 

She said I should contact EQ because they were the one's who generated the score. Ugghh like I'm going to call the worst credit bureau there is to speak to someone who won't even know what the heck I'm talking about. Oh well! I guess I'll just have to wait until my score updates on the PenFed website in April I'm guessing?

 

I now understand your frustration with PenFed and their customer service. I feel like every time I've called lately, I speak to someone who just doesn't care and wants to get me off the phone. When I first started with PenFed, I would always talk to like the best poeple! They were always so kind and helpful and acted like the WANTED to help. Makes me sad.


Eq didnt gen it Fico did based on Eq info and there is nothing Eq would even do about it. You got someone who doesnt know anything about it. You need to get to the credit manager in a branch.

"If there's a lack of money in your life, understand that feeling worried, envious, jealous, disappointed, discouraged, doubtful or fearful about money can never bring more money to you, because those feelings come from a lack of gratitude for the money you have."

"Reactions are powerful creators because they contain every element needed to manifest—they're a combination of thought, belief, and feeling in action. Positive reactions create more positive things, and negative reactions create more negative things. If you can respond to negative situations calmly and lightly, instead of with emotional turbulence, what happens next in your life will be so much better."

- Rhonda Byrne

Message 10 of 29
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