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PenFed Approval, yay!

The last post in this topic was posted 2581 days ago. 

 

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Never would've thought this day would come if you were to ask me a few years back when I was a mess of damaged credit and low scores.

But today...

haCSXhG.jpg

 

Was declined by PenFed 3 months ago for...pretty much everything under the sun. Had a 729 EQ FICO, 3.8yr AAOA, 22 INQs, and 22% util.

 

My approval today is with a 749 EQ FICO, 2.2yr AAOA, 0 INQs, and 8% util.

 

I know that the next step may still require proof of income and stuff, but I didn't lie on the app so I don't foresee any issues.

 

I do potentially foresee issues with AmEx or Barclays since this is my 8th new trade line in 6 months. We'll see though...crossing fingers for no AA. My DTI/DTC is good and my reports are clean nowadays so hopefully they don't mind.

Edited by NomNomNom

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Congrats! 22 inqs is a lot!

 

*Was* a lot :blush2:

 

Anybody know if it would be wise to use the 90-day window and apply for the PLOC? My concern would be the additional trade line given my 6-month history at the moment...

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Yes, was! Good job, keep it up!

 

If your history is already short, might as well apply now, let them all age together.

 

Did it. Unfortunately, they will only give me the LOC if I take some of the approved limit from my CC. That's fine though, I decided to do it anyway to at least have a foot in both and I presume I can get future CLI's with relative ease as time goes on.

 

Unfortunately, that brings my 6 month window of new accounts to 9...which I know is super high-risk area. Hopefully my 5% or less util and clean history keeps the lenders happy :)

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Unfortunately, that brings my 6 month window of new accounts to 9...which I know is super high-risk area. Hopefully my 5% or less util and clean history keeps the lenders happy :)

I also am at exactly 9 new accounts, with PenFed being the latest. Walking the tightrope, skating on thin ice, I know!! :D

 

Whoops, I'm actually down to 7 now that PSECU Combo just recently reported its 6th month. :blush:

Edited by BDK

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Unfortunately, that brings my 6 month window of new accounts to 9...which I know is super high-risk area. Hopefully my 5% or less util and clean history keeps the lenders happy :)

I also am at exactly 9 new accounts, with PenFed being the latest. Walking the tightrope, skating on thin ice, I know!! :D

 

Whoops, I'm actually down to 7 now that PSECU Combo just recently reported its 6th month. :blush:

 

Woo!

 

I've read that Penfed has daily spending limits on CC's. True or false?

 

Not that I'm aware of...

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I've read that Penfed has daily spending limits on CC's. True or false?

 

I've put charges of 10K and 30K on them before so I doubt that they have daily limit, aside from your credit limit.

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I've read that Penfed has daily spending limits on CC's. True or false?

 

I've put charges of 10K and 30K on them before so I doubt that they have daily limit, aside from your credit limit.

 

Daaaang, 30k? What is your limit?

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Limit was 50K, now 45K.

 

When I applied for the PenFed AMEX Travel card, they made me re-allocate my credit line so I moved 5K over to new card. Wouldn't give me more than 50K total.

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Did it. Unfortunately, they will only give me the LOC if I take some of the approved limit from my CC. That's fine though, I decided to do it anyway to at least have a foot in both and I presume I can get future CLI's with relative ease as time goes on.

 

Unfortunately, that brings my 6 month window of new accounts to 9...which I know is super high-risk area. Hopefully my 5% or less util and clean history keeps the lenders happy :)

 

Gratz! Likely to keep concerns at bay, nice to wrap it up with pen fed approvals! No easy task...had a similar experience with a handful+ of new accts ending with a pen fed approval a few years ago...would consider aging gracefully for a while now to build age.

Edited by virtualtreasure

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I've read that Penfed has daily spending limits on CC's. True or false?

 

Sounds like you need to consider the source. There's no such limitation in PenFed's terms.

Edited by takeshi

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Unfortunately, that brings my 6 month window of new accounts to 9...which I know is super high-risk area. Hopefully my 5% or less util and clean history keeps the lenders happy :)

I also am at exactly 9 new accounts, with PenFed being the latest. Walking the tightrope, skating on thin ice, I know!! :D

 

Whoops, I'm actually down to 7 now that PSECU Combo just recently reported its 6th month. :blush:

 

 

Those b!tc#es at Barclays considered all of my accounts opened in the prior 12 months as "new", when they only gave me part of the CLI I requested.

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Unfortunately, that brings my 6 month window of new accounts to 9...which I know is super high-risk area. Hopefully my 5% or less util and clean history keeps the lenders happy :)

I also am at exactly 9 new accounts, with PenFed being the latest. Walking the tightrope, skating on thin ice, I know!! :D

 

Whoops, I'm actually down to 7 now that PSECU Combo just recently reported its 6th month. :blush:

 

 

Those b!tc#es at Barclays considered all of my accounts opened in the prior 12 months as "new", when they only gave me part of the CLI I requested.

 

Those b!tc#es at Barclays DENIED my US Air app for the same silly a__ reason. Seriously, sixteen in the last 12 months could be considered excessive?! :angry::rolleyes:

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