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Penfed PYRAMIDING Debt

changochulo

By changochulo
in Credit Forum

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The last post in this topic was posted 7400 days ago. 

 

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centex

centex

Posted
Posted

Its been discussed several times...though I don't recall many Egyptians in the past few months. I guess they are in vogue again over there.

 

Just another reason not to mess with the mega-CU's.

Peekaboo

Peekaboo

Posted
Posted

Sorry if it seems like everyone is making light of your confusion and frustration, OP. It's just that this has happened to so many here it's become a big joke.

Wait awhile and let your CRs cool off and you might have a better chance with PenFed.

They look at your balance history on your CR, if your total debt keeps climbing instead of remaining steady or getting lower, they think you are not paying your debts, you are simply getting higher limit cards and getting further in debt as you do. Pyramiding the debt so that your util looks lower when it really is a higher amount.

Does that make sense?

RedRockClimber

RedRockClimber

Posted
Posted
Sorry if it seems like everyone is making light of your confusion and frustration, OP. It's just that this has happened to so many here it's become a big joke.

Wait awhile and let your CRs cool off and you might have a better chance with PenFed.

They look at your balance history on your CR, if your total debt keeps climbing instead of remaining steady or getting lower, they think you are not paying your debts, you are simply getting higher limit cards and getting further in debt as you do. Pyramiding the debt so that your util looks lower when it really is a higher amount.

Does that make sense?

 

Peekaboo... wow... that just might be the best explaination I have heard on this... See? It does pay to ask questions that have been asked thouasands of times before. And now when someone uses the search button, they will find this one.

Peekaboo

Peekaboo

Posted
Posted
Peekaboo

Thanks so much for your answer. I guess Im Egyptian now.

Although since Im mexican, can I be Azetc? or Mayan? :rolleyes:

You can be anything you want, you just gotta learn the dance! :rolleyes:

:)

 

...walk like an Egyptian...

AAA

AAA

Posted
Posted (edited)

Sorry if it seems like everyone is making light of your confusion and frustration, OP. It's just that this has happened to so many here it's become a big joke.

Wait awhile and let your CRs cool off and you might have a better chance with PenFed.

They look at your balance history on your CR, if your total debt keeps climbing instead of remaining steady or getting lower, they think you are not paying your debts, you are simply getting higher limit cards and getting further in debt as you do. Pyramiding the debt so that your util looks lower when it really is a higher amount.

Does that make sense?

 

Peekaboo... wow... that just might be the best explaination I have heard on this... See? It does pay to ask questions that have been asked thouasands of times before. And now when someone uses the search button, they will find this one.

 

I hate seeing people cut newbees/newer members short and I think your statement above is a great reason why I hate seeing newbees/newer members get cut short.

Edited by AAA
GEORGE

GEORGE

Posted
Posted
Applied for a VISA with PENFED and was denied.

Reason for Denial: PYRAMIDING DEBT

@#%@#$% What the he%$ does that even mean???

THAT IS WHAT YOU GET WHEN YOU TELL THEM YOU ARE EGYPTIAN!!!!!!!!!

 

NEXT TIME YOUR AMERICAN!!!

Peekaboo

Peekaboo

Posted
Posted

Applied for a VISA with PENFED and was denied.

Reason for Denial: PYRAMIDING DEBT

@#%@#$% What the he%$ does that even mean???

THAT IS WHAT YOU GET WHEN YOU TELL THEM YOU ARE EGYPTIAN!!!!!!!!!

 

NEXT TIME YOUR AMERICAN!!!

Oh, I forgot to add the UYGF notation, they just don't like GEORGE :(

  • 1 month later...
Prophetic1

Prophetic1

Posted
Posted
Sorry if it seems like everyone is making light of your confusion and frustration, OP. It's just that this has happened to so many here it's become a big joke.

Wait awhile and let your CRs cool off and you might have a better chance with PenFed.

They look at your balance history on your CR, if your total debt keeps climbing instead of remaining steady or getting lower, they think you are not paying your debts, you are simply getting higher limit cards and getting further in debt as you do. Pyramiding the debt so that your util looks lower when it really is a higher amount.

Does that make sense?

 

How do they see payment history if they only pull your cr? :cry2: I thought they could only see what's on your current cr. :grin::unsure:

bassmanbrad

bassmanbrad

Posted
Posted (edited)

Sorry if it seems like everyone is making light of your confusion and frustration, OP. It's just that this has happened to so many here it's become a big joke.

Wait awhile and let your CRs cool off and you might have a better chance with PenFed.

They look at your balance history on your CR, if your total debt keeps climbing instead of remaining steady or getting lower, they think you are not paying your debts, you are simply getting higher limit cards and getting further in debt as you do. Pyramiding the debt so that your util looks lower when it really is a higher amount.

Does that make sense?

 

How do they see payment history if they only pull your cr? :cry2: I thought they could only see what's on your current cr. :grin::unsure:

 

 

actually, when they pull your cr, they get a balance history for the account also.

 

If you pull your EX report (not the one from TC, but the real one), and click on the OC's name, you will get a balance history, I think for 12 or 18 months.

Edited by bassmanbrad
GEORGE

GEORGE

Posted
Posted (edited)
I think we all pyramid to a degree.

 

Isn't getting large available credit limits so that standard balances account for tiny % of utilization pyramiding?

 

If so, I'm an egyptian AND PROUD.

I have $100,000's of credit limits to help PREVENT PYRAMIDING

Edited by GEORGE
captaincredit

captaincredit

Posted
Posted

I think we all pyramid to a degree.

 

Isn't getting large available credit limits so that standard balances account for tiny % of utilization pyramiding?

 

If so, I'm an egyptian AND PROUD.

I have $100,000's of credit limits to help PREVENT PYRAMIDING

 

:(:o:aggressive:

 

Let's keep on getting credit lines!

Prophetic1

Prophetic1

Posted
Posted

Sorry if it seems like everyone is making light of your confusion and frustration, OP. It's just that this has happened to so many here it's become a big joke.

Wait awhile and let your CRs cool off and you might have a better chance with PenFed.

They look at your balance history on your CR, if your total debt keeps climbing instead of remaining steady or getting lower, they think you are not paying your debts, you are simply getting higher limit cards and getting further in debt as you do. Pyramiding the debt so that your util looks lower when it really is a higher amount.

Does that make sense?

 

How do they see payment history if they only pull your cr? :( I thought they could only see what's on your current cr. :o:aggressive:

 

 

actually, when they pull your cr, they get a balance history for the account also.

 

 

 

If you pull your EX report (not the one from TC, but the real one), and click on the OC's name, you will get a balance history, I think for 12 or 18 months.

 

 

 

 

when you say real one do you mean from credit experts? :unsure:

This is the first time I ever heard this :unsure::unsure::unsure::unsure:

 

I want to see my past payment history

GEORGE

GEORGE

Posted
Posted

Sorry if it seems like everyone is making light of your confusion and frustration, OP. It's just that this has happened to so many here it's become a big joke.

Wait awhile and let your CRs cool off and you might have a better chance with PenFed.

They look at your balance history on your CR, if your total debt keeps climbing instead of remaining steady or getting lower, they think you are not paying your debts, you are simply getting higher limit cards and getting further in debt as you do. Pyramiding the debt so that your util looks lower when it really is a higher amount.

Does that make sense?

 

How do they see payment history if they only pull your cr? :( I thought they could only see what's on your current cr. :o:aggressive:

 

 

actually, when they pull your cr, they get a balance history for the account also.

 

 

 

If you pull your EX report (not the one from TC, but the real one), and click on the OC's name, you will get a balance history, I think for 12 or 18 months.

 

 

 

 

when you say real one do you mean from credit experts? :unsure:

This is the first time I ever heard this :unsure::unsure::unsure::unsure:

 

I want to see my past payment history

DIRECT FROM THE BIG 3 (I guess)

multiplier

multiplier

Posted
Posted
I think we all pyramid to a degree.

 

Isn't getting large available credit limits so that standard balances account for tiny % of utilization pyramiding?

 

 

No. My CLs have increased 50 times over in the past year. I still PIF.

multiplier

multiplier

Posted
Posted

I think we all pyramid to a degree.

 

Isn't getting large available credit limits so that standard balances account for tiny % of utilization pyramiding?

 

If so, I'm an egyptian AND PROUD.

I have $100,000's of credit limits to help PREVENT PYRAMIDING

 

 

What difference does CLs make? They're referring to debt balances, not utilization.

 

They aren't the only creditor who pays attention to it. They're just more strict than others.

GEORGE

GEORGE

Posted
Posted

I think we all pyramid to a degree.

 

Isn't getting large available credit limits so that standard balances account for tiny % of utilization pyramiding?

 

If so, I'm an egyptian AND PROUD.

I have $100,000's of credit limits to help PREVENT PYRAMIDING

 

 

What difference does CLs make? They're referring to debt balances, not utilization.

 

They aren't the only creditor who pays attention to it. They're just more strict than others.

SO YOU OWE $5,000 IN JANUARY AND OWE $10,000 IN FEBRUARY YOU INCREASED YOUR DEBT

 

(PYRAMIDING DEBT)

 

NO YOU DIDN'T!!!

 

YOU PIF THE $5,000 AND SPENT $10,000 MORE!!!

 

UTILIZATION IS STILL IMPORTANT

 

(TOTAL DEBT TO TOTAL CREDIT LIMIT)

The last post in this topic was posted 7400 days ago. 

 

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