Got the PenFed card

[Zombie13]

Hey folks!
Ok; I got up the nerve to apply a few weeks ago for the PenFed card, online. Got the 'spinning circle thing' for a minute, then got the "We will send you a note in the mail" notification, something like that. So I thought, ok, I didn't get it heh. In my experience, if I am approved, I see it online immediately. And if I am turned down, well, "We will send you a note in the mail"... LoL.
So a week or so ago I got a credit report notification about a new account. So I logged in, checked, and yep, PenFed, $9,000.00 credit line. So that's good. Not that we are going to use that much but it should help with credit scores.
We kinda need a new couch btw; the springs are poking at me in a rather unfriendly way.
So, with PenFed, to be a member, we / you need at least $5 in a savings account with them. Looks like they gave me a fivsky in the account but, to be safe, I put $10 in there. Oooh big spender I know. We can always put more in there.
Anyway, to paraphrase: yes, there is approved credit after bankruptcy.

[justbroke]

I'm with PenFed as well. They've been nice to me.

[shipo]

Wow, congratulations, that's a significantly higher credit limit than I got from them.

[Barbisi]

I think the limit is so high only because of the huge salary increase and the sale of the house which left us with a decent nest egg which sadly is already quite depleted from the 401K loan payback, car purchase and significant down payment on the second car, not to mention the second move within Washington state, double rent for two months, etc.
While we are doing OK for now, we really want to budget better and build up our reserves.
The goal and trick are not to rely on CCs for big purchases and not to ever carry a large balance for more than a month or two.
We certainly don't want to end up back in BK13, serving a second five-year sentence.

[masmith57]

Wow thats great Congrats!!! I don't have PenFed but maybe I'll try them in a few months waiting on my credit reports to all catch up!!! Need to check my FICOs I guess been using Wallethub & CK for now!

[shipo]

Wow thats great Congrats!!! I don't have PenFed but maybe I'll try them in a few months waiting on my credit reports to all catch up!!! Need to check my FICOs I guess been using Wallethub & CK for now!

Yeah, Wallet Hub and Credit Karma are all "FAKO" scores (i.e. Vantage 3.0) which typically bear little resemblance to true FICO scores. The two best sources for FICO scores are Credit.com's ExtraCredit offering at $24.99 per month and myFICO.com's various packages which run up to $39.95 per month. I used both (not at the same time) to track my scores after my Chapter 13 discharge; they're both good, each with their own little quirks, but given the price difference, I personally prefer the ExtraCredit offering.

[masmith57]

I finally pulled myfico's too early nothing is reporting properly yet; I noticed the Trustee filed her final report on 11/03 with a deadline of 12/05; not sure what that means should I just wait to apply/calling PedFed today not sure why I can't open an account with them? I burned Navy but currently have NASA FCU & USAA maybe I'll try with NASA later

[shipo]

I finally pulled myfico's too early nothing is reporting properly yet; I noticed the Trustee filed her final report on 11/03 with a deadline of 12/05; not sure what that means should I just wait to apply/calling PedFed today not sure why I can't open an account with them? I burned Navy but currently have NASA FCU & USAA maybe I'll try with NASA later

I would wait at least six weeks post-discharge.

[flashoflight]

Penfed is the best for those with an open bankruptcy. Credit cards, personal loans, and car loans are all achievable during the 5-year prison sentence. The max credit they're willing to extend on those products are huge if you have the income to support it.

[Carmella]

I am considering applying for a Menard's (home improvement store) card since we need a washer and dryer. I have $1,500 on Ollo with outrageous interest rates so I have only used it twice and paid it off immediately. I don't want to get in the trap of credit cards. It would be nice if I could qualify for 6 months same as cash from Menards.