Pentagon Federal Credit Union PenFed Approval

[Fizzle1979 720]

Holy cow! I just applied with them and got the $5000 Visa Gold!

I just picked myself up off the floor when they offered me $35,000 limit on a 60 month new auto loan at 4.99% I don't even want a new vehicle. I'm happy with my 2001 Jeep Grand Cherokee with 103,000 miles but that offer is freaking INSANE!

I know my EQ score is 705 as of today before I applied with PenFed. I was under the impression they pulled only EQ, tomorrow I will check both EQ and EX and let you all know. I do not use TU. I also have no negative information on my credit report and I have about 27% debt to credit limit ratio. I only applied for this account so that I could lower that percentage.

Another note, I did the online option six to open account. I have no family, friends, etc that are in the military.

Any questions? Ask away ... I'm still freaking out.

[NASCAR_Devil 331]

Holy cow! I just applied with them and got the $5000 Visa Gold!

I just picked myself up off the floor when they offered me $35,000 limit on a 60 month new auto loan at 4.99% I don't even want a new vehicle. I'm happy with my 2001 Jeep Grand Cherokee with 103,000 miles but that offer is freaking INSANE!

I know my EQ score is 705 as of today before I applied with PenFed. I was under the impression they pulled only EQ, tomorrow I will check both EQ and EX and let you all know. I do not use TU. I also have no negative information on my credit report and I have about 27% debt to credit limit ratio. I only applied for this account so that I could lower that percentage.

Another note, I did the online option six to open account. I have no family, friends, etc that are in the military.

Any questions? Ask away ... I'm still freaking out.

Are you retired military?

[Moneedshelp 679]

Congrats Fizz. That is great!

[Fizzle1979 720]

Are you retired military?

No sir.

[MaxedOut 58]

Holy cow! I just applied with them and got the $5000 Visa Gold!

I just picked myself up off the floor when they offered me $35,000 limit on a 60 month new auto loan at 4.99% I don't even want a new vehicle. I'm happy with my 2001 Jeep Grand Cherokee with 103,000 miles but that offer is freaking INSANE!

I know my EQ score is 705 as of today before I applied with PenFed. I was under the impression they pulled only EQ, tomorrow I will check both EQ and EX and let you all know. I do not use TU. I also have no negative information on my credit report and I have about 27% debt to credit limit ratio. I only applied for this account so that I could lower that percentage.

Another note, I did the online option six to open account. I have no family, friends, etc that are in the military.

Any questions? Ask away ... I'm still freaking out.

Congrats! Welcome to the club my friend! Penfed is the Shizzle.

[Fizzle1979 720]

I'll definately consider them when I decide to purchase a house or car.

BTW I just checked EQ, they pulled it. I also checked EX and it doesn't look like they pulled it, unless EX is going to update that inquiry later tonight.

[hypersloth 25]

Penfed sucks lol. I signed up with them today - then they refused to allow me to sign up for their secure card, pushing my toward an unsecured card. SO I said go ahead and try it. Of course I was denied, and she then continued to push for me to have someone co-sign for me. Grrr. I said OK so you do not offer the secure card to anyone any longer? She said immediately 'please hold' 10 mins!!!!!!!!!!! later she came back and said her supervisor said I should get a co-signer for BOTH cards either way. Jesus. And they were rude about it.

$25 wasted.

[CleverCynic 1,029]

How much do you have to deposit into any account?

And what are my odds with one old collection for cingular under AFNI?

My scores are below

[CleverCynic 1,029]

Also, I normally put 76,000 as my income... but that is bogus it is based on a lot of things such as loan disbursements, my income, my tax return, and benefits.

Do they require documentation for proof of income?

[Fizzle1979 720]

Also, I normally put 76,000 as my income... but that is bogus it is based on a lot of things such as loan disbursements, my income, my tax return, and benefits.

Do they require documentation for proof of income?

They require at least $5 to open the account and if you are not in their list of options of #1 - #5, then you pay $20 for option #6. Which is what I did.

I read that they may require documentation of income, but they havent asked me for it. I did not lie on my income either so I'm not worried there, but my income was less than yours.

Also I've been at my job for 9.5 years. I lied and said I lived at my current address for 3.5 years. But I used a PO Box, but they did require me to list a physical address...which I've only lived at for 8 months.

I think I read that the VISA GOLD is hard to get, but there were other cards to apply for also.

[CleverCynic 1,029]

If the card is hard to get, why are we doing this?

Is the 5k card the one you're talking about?

[CleverCynic 1,029]

Do I have to call and get a PIN???????

[Fizzle1979 720]

If the card is hard to get, why are we doing this?

Is the 5k card the one you're talking about?

Well I guess I thought it was easy for me considering my current credit situation of no negative information. I was saying if you have negative information, maybe you should try for one of the other cards. Yes I'm talking about the 5K card.

[Fizzle1979 720]

Do I have to call and get a PIN???????

No. Click on HOW TO JOIN section. Follow those links and go from there.

[CleverCynic 1,029]

At that point I had already joined, but during the online app process you have to setup a login, and that requires a pin. It said to call such and such a number to do that.

So anyway, I did, and they also took my CC app over the phone and she recommended the platinum ($500 to $50,000) even though I said I had a collection. But she went on to explain that it comes down to a haggling process in the end with limit and type of card etc.. and that with my score I should likely be offered what I am asking (5k) or at least something.

So, I'm supposed to call back in 4 hours if I don't hear back from them. It sounds really good so far!

[Fizzle1979 720]

Penfed sucks lol. I signed up with them today - then they refused to allow me to sign up for their secure card, pushing my toward an unsecured card. SO I said go ahead and try it. Of course I was denied, and she then continued to push for me to have someone co-sign for me. Grrr. I said OK so you do not offer the secure card to anyone any longer? She said immediately 'please hold' 10 mins!!!!!!!!!!! later she came back and said her supervisor said I should get a co-signer for BOTH cards either way. Jesus. And they were rude about it.

$25 wasted.

The $25 bux would have been better used writing the CRA's to remove negative information from your credit report.

[Magdalen77 395]

The $25 bux would have been better used writing the CRA's to remove negative information from your credit report.

I wonder what they'd think of a 645-650 score with a 4 year old repo on it and the only negative?

[CleverCynic 1,029]

Maybe wait until you hear my results later this evening... if I have a hard time then don't bother. I see they only pulled my best report, so if they don't like it they probably won't like yours.

Only oddity about mine is that they will see a lot of student loans in deferment, which may make a DTI ratio undesirable for them. We're talking over 100k.

[Fizzle1979 720]

At that point I had already joined, but during the online app process you have to setup a login, and that requires a pin. It said to call such and such a number to do that.

So anyway, I did, and they also took my CC app over the phone and she recommended the platinum ($500 to $50,000) even though I said I had a collection. But she went on to explain that it comes down to a haggling process in the end with limit and type of card etc.. and that with my score I should likely be offered what I am asking (5k) or at least something.

So, I'm supposed to call back in 4 hours if I don't hear back from them. It sounds really good so far!

I did my entire process via internet, no phone calls. Not sure why you had to call. But I wish you luck! ! !

[CleverCynic 1,029]

Well, I picked option 6 and then setup an account, the $25 deal, and that gave me a member number and account number.

Then I went back to the main page to apply for a credit card, and it immediately took me to a login screen that asked for my member number, a PIN, and the middle 2 digits of my SS. It said if you don't have a pin to call the 800#. I didn't see any way around it and didn't want to wait for my mail packet.

How'd you apply for the card without logging in? Or did you join a while ago?

[Magdalen77 395]

Maybe wait until you hear my results later this evening... if I have a hard time then don't bother. I see they only pulled my best report, so if they don't like it they probably won't like yours.

Only oddity about mine is that they will see a lot of student loans in deferment, which may make a DTI ratio undesirable for them. We're talking over 100k.

I might just apply and join the CU itself now and then wait until my scores are up some more in 3 months or so to apply for any credit cards.

[isislc 1,220]

They denied me for a credit card. Said my recent activity showed pyramid app debt. WTH is pyramid app debt? I'm guessing that they think I'm trying for higher cards so I can screw them on it. Oh well, I'll stick with NFCU. heh

[Hellard 85]

My EQ score is now 673 plus whatever points just added today when another baddie was removed. EQ was only 594 on jan 22 ...Finally some progress...yeah ..anyhow i just called PenFed and i can join since im a DAV. Should i try now or wait a few months for my new accounts to age?

[CleverCynic 1,029]

They denied me for a credit card. Said my recent activity showed pyramid app debt. WTH is pyramid app debt? I'm guessing that they think I'm trying for higher cards so I can screw them on it. Oh well, I'll stick with NFCU. heh

Do your reports show right now larger balances that coincide with newer open dates?

What's your util right now?

I'm worried I may get the same thing, I have more recent cards with higher limits and two more very recent (yesterday) inq's. They could use the same argument, except ALL of my cards are reporting 0 balance right now.

[isislc 1,220]

Do your reports show right now larger balances that coincide with newer open dates?

What's your util right now?

I'm worried I may get the same thing, I have more recent cards with higher limits and two more very recent (yesterday) inq's. They could use the same argument, except ALL of my cards are reporting 0 balance right now.

I just recently gotten all but 2 cards down to 30%. I'm hoping that will put me back over the 600 range. This was back at the end of January that I was turned down and by then all my cards were close to maxed out from the funeral. All but 1 card are going to be at the 6 month mark come next month.