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Does PNC only ever pull Experian?


Sidewinder
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No update yet from PNC.

 

My end o' year app spree also went for WF ActiveCash and a Signature Visa from SPIRE credit union; in each case they said they'd get back to me.

 

A year ago I was approved for AmEx Cash Magnet and BMO Harris Cash Back mastercard in a trice; now it's "will get back to you" with my scores being 768, 794, 804.

 

The email from WF said they were "verifying" which I have chosen to construe as having different meaning than "considering," so I draw some optimism from that.

 

I think even if all of this does go my way I might be done with my "All the Different Underwriters" project and go take up, like, golf or something...

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1 hour ago, MarvBear said:

Isn't PNC closing down some branches?   Maybe they don't have enough staff to handle applications quickly.

The closing of branches is part of their adaptation to the realities of today's consumer trends and their expansion plans. They are moving into the Western States and have found that in many markets consumer traffic is no longer in brick and mortar branches, but rather online. They have expanded their lending operation (although focusing on small business lending) and they have not laid off any staff. This all said, they have become much more conservative in consumer lending and are tightening in that area - a reflection of the overall pervasive fear in banking that today's consumers are stretched to their limits. This information comes from a PNC investors call from several months ago.

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4 hours ago, NoMoreHate said:

The closing of branches is part of their adaptation to the realities of today's consumer trends and their expansion plans. They are moving into the Western States and have found that in many markets consumer traffic is no longer in brick and mortar branches, but rather online. They have expanded their lending operation (although focusing on small business lending) and they have not laid off any staff. This all said, they have become much more conservative in consumer lending and are tightening in that area - a reflection of the overall pervasive fear in banking that today's consumers are stretched to their limits. This information comes from a PNC investors call from several months ago.

 

Which, is what I said basically.

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  • 2 weeks later...

Any general advice on how to do a recon?  Part of my "strategy" for winning a recon from PNC was to call them on Friday, figuring people would just be in better spirits because Friday  :) except work was insanely busy for me on Friday so I didn't even get a chance to call them.

 

The advice I've read says, unsurprisingly, to not be combative (duh) and be ready with reasons why you think approval is actually warranted.  In my case, PNC rejected me for one reason only:  "Number of revolving accounts." Not delinquencies (1 30-day late from five years ago), not utilization (I've been denied decades ago because "excessive [or 'sufficient'] utilization of revolving credit"), not excessive inquiries, not number of accounts opened in the past 24 months; just "Number of accounts."

 

I feel like I can address specific concerns they might have about the most recent accounts by pointing out that I've never owed $200 on my Verizon Visa, having opened it solely because having that card lowers my phone bill every month.  Meaning to me it's not a plastic pass to go nuts at Best Buy; it proves me instead as someone who does all he can to optimize his cash flow.  (Same is true of the BMO card, also showing a zero-to-low balance, because I use it to get 5% back on streaming, 3% on gasoline.  Cash back; not "spending power.")  I furthermore wonder if I could dress up those explanations by segue-ing from "This shows I optimize my finances" into "I was looking forward to PNC being a part of that!!  {4% back on gasoline means they defeat BMO, 3% at restaurants vies with Sapphire Preferrred.  (I am tugging at PNC's heartstrings, see.)) 

 

 

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PNC's underwriting department told me they can file an appeal for me, but unless there are "mitigating factors" (inaccuracies in the credit report) the denial will stand.

 

This might be the end of that road, and obviously there's no point in whining; I just want to say that I don't see the logic in rejecting an applicant with a 771 score just because of the "number of revolving accounts" without looking at the zero utilization on most of them. 

 

("We must not take on the risk of lending to this person who has earned the trust of all of the fourteen lenders who have ever taken a chance on him," they are saying.)

 

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21 minutes ago, Sidewinder said:

PNC's underwriting department told me they can file an appeal for me, but unless there are "mitigating factors" (inaccuracies in the credit report) the denial will stand.

 

This might be the end of that road, and obviously there's no point in whining; I just want to say that I don't see the logic in rejecting an applicant with a 771 score just because of the "number of revolving accounts" without looking at the zero utilization on most of them. 

 

("We must not take on the risk of lending to this person who has earned the trust of all of the fourteen lenders who have ever taken a chance on him," they are saying.)

 

How many accounts do you have?  You can always try to force your way in with their secured card.

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1 hour ago, ShawnPY1972 said:

How many accounts do you have?  You can always try to force your way in with their secured card.

 

Twenty bank cc's; six store/gas.

 

If they maintain their rejection of me; that's the end of it.  The only reason they were on my radar is as a residual of my now-legacy project to get Approvals From All The Underwriters.  I've now started to care less about that; but in any case forcing my way in via secured card isn't an actual Approval and so would be useless to me.

 

 

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14 hours ago, Sidewinder said:

 

Twenty bank cc's; six store/gas.

 

If they maintain their rejection of me; that's the end of it.  The only reason they were on my radar is as a residual of my now-legacy project to get Approvals From All The Underwriters.  I've now started to care less about that; but in any case forcing my way in via secured card isn't an actual Approval and so would be useless to me.

 

 

Congratulations.  Twenty bank cards is pretty significant by any measure.   Many years ago when I had better stronger credit I applied for a credit card with State Farm and I was declined for the very same reason.  They told me I had more than enough credit and that they wouldn't grant me more.

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On 12/15/2023 at 3:05 PM, Sidewinder said:

PNC's underwriting department told me they can file an appeal for me, but unless there are "mitigating factors" (inaccuracies in the credit report) the denial will stand.

 

This might be the end of that road, and obviously there's no point in whining; I just want to say that I don't see the logic in rejecting an applicant with a 771 score just because of the "number of revolving accounts" without looking at the zero utilization on most of them. 

 

("We must not take on the risk of lending to this person who has earned the trust of all of the fourteen lenders who have ever taken a chance on him," they are saying.)

 

PNC is very generous if you are banking customer. Open their high yield savings (paying 4.65%) and put in a significant balance and in my experience they will bend over backwards for you.

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  • 1 month later...
On 12/18/2023 at 7:52 PM, NoMoreHate said:

PNC is very generous if you are banking customer. Open their high yield savings (paying 4.65%) and put in a significant balance and in my experience they will bend over backwards for you.

This is very interesting to know, thank you. I was surprised the other day to see how high the savings account interest rate was, for a traditional brick-and-mortar bank. And now that PNC has a 2% cash back card . . .  (which is only available to people who have an existing banking relationship, going along with what @NoMoreHate said). 

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On 12/18/2023 at 10:52 PM, NoMoreHate said:

PNC is very generous if you are banking customer.

 

Extra lollipops?

 

Been with them (and predecessor PNC-acquired banks) for 39 years.  Last I checked, my credit card with them is capped to $25k CL.

 

Between that, and uninspired card products ... snooze!

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14 hours ago, hdporter said:

 

Extra lollipops?

 

Been with them (and predecessor PNC-acquired banks) for 39 years.  Last I checked, my credit card with them is capped to $25k CL.

 

Between that, and uninspired card products ... snooze!

2% cash back on all purchases is uninspired? Wow, please tell where besides Wells Fargo that I can get that. Further I have a limit twice what you've listed. So maybe it depends on who your personal banker is and region?

Edited by NoMoreHate
hit enter to soon
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2.00% - Visa - Wells Fargo - Active Cash
2% [3%] - MC - Synchrony - PayPal Cashback
2.00% - MC - Synchrony - Premier
2.00% - MC - SoFi Bank - SoFi Credit Card
2.00% - AmEx - Comenity - Bread Cashback
2.00% - MC - Citi - Double Cash

 

This is the easy list of flat 2% cards available that are non-geolocked and no hoop jumping needed to apply, besides Sofi and Paypal that needs a free account to apply.

There were a few other good options for the list, but they were geolocked.

 

The PNC 2% no AF no FTF card could be good for the right PNC customers. Need to bank with them to even apply.


When I first saw the PNC 2% and no FTF card mentioned I immediately looked in to it. I have the PayPal Cashback MC already as not worth it to me to only add FTF.
For that matter I am pretty sure I would apply for the Wells Fargo Active Cash or Citi Double Cash before having to bank with PNC just to be considered for the no FTF 2%.

 

Edited by greendeh
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14 hours ago, greendeh said:

2.00% - Visa - Wells Fargo - Active Cash
2% [3%] - MC - Synchrony - PayPal Cashback
2.00% - MC - Synchrony - Premier
2.00% - MC - SoFi Bank - SoFi Credit Card
2.00% - AmEx - Comenity - Bread Cashback
2.00% - MC - Citi - Double Cash

 

This is the easy list of flat 2% cards available that are non-geolocked and no hoop jumping needed to apply, besides Sofi and Paypal that needs a free account to apply.

There were a few other good options for the list, but they were geolocked.

 

The PNC 2% no AF no FTF card could be good for the right PNC customers. Need to bank with them to even apply.


When I first saw the PNC 2% and no FTF card mentioned I immediately looked in to it. I have the PayPal Cashback MC already as not worth it to me to only add FTF.
For that matter I am pretty sure I would apply for the Wells Fargo Active Cash or Citi Double Cash before having to bank with PNC just to be considered for the no FTF 2%.

 

I don't do business with Synchrony or Comenity. That's like shopping at Dollar General or Walmart and I don't so that either! Now Citi I was not aware of. The only account I have at Citi is a Costco Visa that mapped over from AMEX and they've been very generous.

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7 minutes ago, NoMoreHate said:

I don't do business with Synchrony or Comenity. That's like shopping at Dollar General or Walmart and I don't so that either! Now Citi I was not aware of. The only account I have at Citi is a Costco Visa that mapped over from AMEX and they've been very generous.

 

What is your issue to banking with PNC? They pay 4% on regular saving accounts and in my State 4.65% on their high yield savings. They charge no ATM fees at any ATM and rebate up to $20 a month in other banks ATM fees. They charge no foreign currency transaction fees at any  ATM  Worldwide. They allow ATM with cash withdraws up to $2,000 per day. That beats most banks and easy competes with the big boys!

 

Edited by NoMoreHate
fix typo
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