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Penfed - 2.99% BT for the life of your balance - starting 4/1

The last post in this topic was posted 4185 days ago. 

 

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Is anyone with high utilization getting approved?

 

What's the point of BT offer if they're denying folks with high util?

 

confused.gif Has there been a report somewhere of someone with high utilization having his request turned down ?

There are a couple of rejections on Page 1 of the Penfed results in the Credit Pulls Database that cite high utilization as the reason ...

 

I misunderstood you. What I thought you were saying is that over the last few days those with PenFed credit cards were finding out that their BT request was being declined because of high utilization. I've been wondering for awhile if PenFed would ever not let someone do a BT.

 

But you meant something different ?

 

I typed "PenFed" and "Pentagon" into the creditpulls database. I see a couple of declines on the first page; but those are declines spread out over the past one year where the person's application for a credit card was declined.

Edited by persevering

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So, are you guys saying that this is only for Platinum, not Gold? Can someone verify, please? When I click on the link it takes me to my gold card. That would be pretty misleading if it wasn't for that card too!

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So, are you guys saying that this is only for Platinum, not Gold? Can someone verify, please? When I click on the link it takes me to my gold card. That would be pretty misleading if it wasn't for that card too!
It states only for the Platinum Card all over the ads, not sure where it's misleading. Why not pick up the phone and ask?

 

"You know that all of PenFed's credit cards offer a low rate from day one—no gimmicks, no introductory period. Now, for a limited time, PenFed's Platinum Cards offer an astounding 2.99% APR balance transfer rate† that's good for the life of the transferred balance."

Edited by nyrfann

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Denied :) Have a 680, but I do have a collection that won't go away...it's been on there for YEARS though. My utilization isn't too bad, I was going to transfer 4500 and asked for 5000. Sux since you have to pay 25.00 just to join and then you get denied. I might add my spouse as an authorized member/user of that same account and then let him apply for the credit card before the 2.9% offer expires in May. I guess you can do that?

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Approved yesterday for $20k (joint app with my wife)

 

Me = 700 Fico, 45% Util, BK7 4years ago

Her = 767 Fico, 65% Util - No baddies ever

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So, are you guys saying that this is only for Platinum, not Gold? Can someone verify, please? When I click on the link it takes me to my gold card. That would be pretty misleading if it wasn't for that card too!
It states only for the Platinum Card all over the ads, not sure where it's misleading. Why not pick up the phone and ask?

 

"You know that all of PenFed's credit cards offer a low rate from day one—no gimmicks, no introductory period. Now, for a limited time, PenFed's Platinum Cards offer an astounding 2.99% APR balance transfer rate† that's good for the life of the transferred balance."

 

I spoke with them first thing this morning. (I wrote my earlier post late at night when they were closed.) Actually, I just said that I made a mistake and explained the circumstances that the link on the email took me straight to the Balance Transfer screen for my Gold account. I was excited about the offer and took it immediately, realizing afterward that it might not apply to my account. The CSR herself expressed the sentiment that she felt it was very misleading and had lodged a complaint with management. She canceled it with no hassle whatsoever. She even offered to open a Platinum card for me, so I could take advantage of the offer, but I declined due to not wanting a new account on my reports.

 

So, just in case there is any confusion with anyone other than myself...It does NOT apply to the Gold Visa! :)

 

PenFed is great!

 

edited for typo

Edited by curly

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So, are you guys saying that this is only for Platinum, not Gold? Can someone verify, please? When I click on the link it takes me to my gold card. That would be pretty misleading if it wasn't for that card too!
It states only for the Platinum Card all over the ads, not sure where it's misleading. Why not pick up the phone and ask?

 

"You know that all of PenFed's credit cards offer a low rate from day one—no gimmicks, no introductory period. Now, for a limited time, PenFed's Platinum Cards offer an astounding 2.99% APR balance transfer rate† that's good for the life of the transferred balance."

 

I spoke with them first thing this morning. (I wrote my earlier post late at night when they were closed.) Actually, I just said that I made a mistake and explained the circumstances that the link on the email took me straight to the Balance Transfer screen for my Gold account. I was excited about the offer and took it immediately, realizing afterward that it might not apply to my account. The CSR herself expressed the sentiment that she felt it was very misleading and had lodged a complaint with management. She canceled it with no hassle whatsoever. She even offered to open a Platinum card for me, so I could take advantage of the offer, but I declined due to not wanting a new account on my reports.

 

So, just in case there is any confusion with anyone other than myself...It does NOT apply to the Gold Visa! :D

 

PenFed is great!

 

edited for typo

 

 

... and you declined their platinum cash card because you didn't want a new card reporting? :huh: You have more restraint than most :)

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So, are you guys saying that this is only for Platinum, not Gold? Can someone verify, please? When I click on the link it takes me to my gold card. That would be pretty misleading if it wasn't for that card too!
It states only for the Platinum Card all over the ads, not sure where it's misleading. Why not pick up the phone and ask?

 

"You know that all of PenFed's credit cards offer a low rate from day one—no gimmicks, no introductory period. Now, for a limited time, PenFed's Platinum Cards offer an astounding 2.99% APR balance transfer rate† that's good for the life of the transferred balance."

 

I spoke with them first thing this morning. (I wrote my earlier post late at night when they were closed.) Actually, I just said that I made a mistake and explained the circumstances that the link on the email took me straight to the Balance Transfer screen for my Gold account. I was excited about the offer and took it immediately, realizing afterward that it might not apply to my account. The CSR herself expressed the sentiment that she felt it was very misleading and had lodged a complaint with management. She canceled it with no hassle whatsoever. She even offered to open a Platinum card for me, so I could take advantage of the offer, but I declined due to not wanting a new account on my reports.

 

So, just in case there is any confusion with anyone other than myself...It does NOT apply to the Gold Visa! :D

 

PenFed is great!

 

edited for typo

 

 

... and you declined their platinum cash card because you didn't want a new card reporting? :huh: You have more restraint than most :)

 

Well, I still have my AMEX limits, to my utter dismay! So, I don't want to push my luck.

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I'm curious if an expert or at least someone that knows more than me can give me some guidance on this... Basically I'm looking for thoughts on would you expect me to get approved, if so with what limit.

 

 

Right now

1 CC over 80% util

690+/-10 Fako

75k HHI

Total CLs ~47.5k

Utilization ~37%

Debt to income ~33%

 

If anyone wants anymore info please let me know... I basically don't want to apply if I have no chance of approval since I'd like to refi my mortgage down from the 7.125% that I got screwed on.

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So, are you guys saying that this is only for Platinum, not Gold? Can someone verify, please? When I click on the link it takes me to my gold card. That would be pretty misleading if it wasn't for that card too!
It states only for the Platinum Card all over the ads, not sure where it's misleading. Why not pick up the phone and ask?

 

"You know that all of PenFed's credit cards offer a low rate from day one�"no gimmicks, no introductory period. Now, for a limited time, PenFed's Platinum Cards offer an astounding 2.99% APR balance transfer rate† that's good for the life of the transferred balance."

 

I spoke with them first thing this morning. (I wrote my earlier post late at night when they were closed.) Actually, I just said that I made a mistake and explained the circumstances that the link on the email took me straight to the Balance Transfer screen for my Gold account. I was excited about the offer and took it immediately, realizing afterward that it might not apply to my account. The CSR herself expressed the sentiment that she felt it was very misleading and had lodged a complaint with management. She canceled it with no hassle whatsoever. She even offered to open a Platinum card for me, so I could take advantage of the offer, but I declined due to not wanting a new account on my reports.

 

So, just in case there is any confusion with anyone other than myself...It does NOT apply to the Gold Visa! :D

 

PenFed is great!

 

edited for typo

 

 

... and you declined their platinum cash card because you didn't want a new card reporting? :) You have more restraint than most :grin:

 

Why not ask them to convert the gold card? At this point there really isn't much of an advantage to the gold card, years back the APR was 9.9 fixed, then it went to 10.9 now its at 12.49% i believe.

 

Like i said i'd personally convert the goldcard to a plat cash rewards so you'll at least be able to use it for the 5% cash back paid at the pump alone if not for this offer.

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I *wish* that we could join....

 

But, you have to have certain qualifications in order to join Pen or Navy... correct?

 

My 1st cousin is in the SF, does that count?

 

PD

 

IIRC, Penfed isn't as BK-friendly as Alliant or Navy Federal are they? In fact I've heard they're about as tough as a CU can get to get a loan or credit card approved with...is that correct?

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So, are you guys saying that this is only for Platinum, not Gold? Can someone verify, please? When I click on the link it takes me to my gold card. That would be pretty misleading if it wasn't for that card too!
It states only for the Platinum Card all over the ads, not sure where it's misleading. Why not pick up the phone and ask?

 

"You know that all of PenFed's credit cards offer a low rate from day one—no gimmicks, no introductory period. Now, for a limited time, PenFed's Platinum Cards offer an astounding 2.99% APR balance transfer rate† that's good for the life of the transferred balance."

 

I spoke with them first thing this morning. (I wrote my earlier post late at night when they were closed.) Actually, I just said that I made a mistake and explained the circumstances that the link on the email took me straight to the Balance Transfer screen for my Gold account. I was excited about the offer and took it immediately, realizing afterward that it might not apply to my account. The CSR herself expressed the sentiment that she felt it was very misleading and had lodged a complaint with management. She canceled it with no hassle whatsoever. She even offered to open a Platinum card for me, so I could take advantage of the offer, but I declined due to not wanting a new account on my reports.

 

So, just in case there is any confusion with anyone other than myself...It does NOT apply to the Gold Visa! :D

 

PenFed is great!

 

edited for typo

 

 

... and you declined their platinum cash card because you didn't want a new card reporting? :) You have more restraint than most <_<

 

Well, I still have my AMEX limits, to my utter dismay! So, I don't want to push my luck.

:D Curly I'd choose Penfed over amex anytime in this economy. If you have a balance with Amex, you could've tranfered them. While I still have my Amex limits, I am not holdoing back if something better comes a long.

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