Thanks everyone, guess I didn't realize how subtle some of this can be!! At least they didn't slip below 760, and hopefully they will go back up again.
@ discernment: PenFed said the issue was my income, not my scores ;-) As a student, my income isn't guarenteed for 3-5 more years so they couldn't take the "chance" (and in this economy, who's income IS guarenteed?!) so yeah - they also used different scores, so those values weren't regular FICO scores.
