PENFED - No credit file/activity

[tireredsquare]

I joined PENFED a week or so ago and today I got a letter form them saying they were putting restrictions on my account due to:

 

No credit file/activity.

 

I searched for that term but I came up empty. They used EQ and my current EQ FICO 8 score is 601. My scores are creeping up slowly.

 

5 day hold for all deposits

5 day hold of Share Certificates or IRAs

ACH transfers not permitted, only direct deposit

 

I joined PENFED just to get my feet wet. What does No credit file/activity mean?

[centex]

How thick are your four bureau files?  The verbiage would tend to suggest you have a very thin file...

[cv91915]

16 hours ago, Shane said:

5 day hold for all deposits

5 day hold of Share Certificates or IRAs

ACH transfers not permitted, only direct deposit

The first one sounds standard for the first few weeks after opening a new bank account.

 

The second one makes no sense.  What are they holding? 

 

The third one sounds like something only a credit union would do.

[hegemony]

did you have any open FCRA disputes when you joined?

[tireredsquare]

File is thick

No FCRA anything

 

I am still lost as to why they said that.