Pyramiding Debts ? I think Penfed (Pentagon FCU) is putting that on all the denial letters

[sue williams]

Pyramiding Debts ? I think Penfed (Pentagon FCU) is putting that on all the denial letters

They just add it on there as a additional reason for denial. I have never seen that before

and I know of no one that has.

[jackgehr]

Same thing happened to me. I wonder how many hare at CB got that message?

[DragonFlyer]

Penfed is famous for this type of denial. It's common practice and has been happening for years.

 

Here are a few threads to review what it means, as well as a very clear explanation of PYRAMIDING (and why it's important to know how PenFed operates) via the Credit Matters Blog:

 

http://creditboards.com/forums/index.php?s...t&p=3794858

 

From 2006: http://creditboards.com/forums/index.php?showtopic=150249

From 2004: http://creditboards.com/forums/index.php?showtopic=55972

 

http://www.creditmattersblog.com/2008/09/a...-creditors.html