PenFed Premium Travel Rewards American Express® Card

For those that say don't bash Penfed if they don't approve you for a card with a 760+ fico are crazy. Of course bash them that’s an issue. When you have high 700's low 800 fico and are approved with 99% of other banks and PENFED says no PENFED is being too conservative and putting a nasty ceiling to grow there company. I never look for a bank that is too conservative. The purpose of a bank is to hold my money but at the same time when I feel like taking advantage of offers I should be able to especially due to the fact that all the hard work that I have put into establishing a good to excellent credit score. I saw that you could get 5% cash back for gas all the time so I was interested in this account because I currently use my chase and discover for cash back but that cash back is not yearly. So I applied with a 760 Fico I have never been denied for a credit card I have 12 different credit cards all around 10K limits highest at 34K and only one card has a balance of 5000 on my NAVY FCU because they offered 0% for a year so I transferred my auto loan on to my credit card. The application can back instantly denied so of course I called Penfed and told them I just signed up and I wanted this card she pulled my credit history and said well your score is to low. I said I have a credit score higher the 75% of the people in America what do you mean its too low. She said we use a different score model yours might show with the credit score company as a 760 but we show it as a 680. I said I understand sometimes when I apply the score is higher or lower depending on the company I am applying through maybe by 10 15 points but not 80. She told me because you have a balance showing that is effecting you but you do have a perfect history but we don't like to see a a high balance I told her my debt to credit is less than 5% I have a balance of 5K but have available 140K She said we are very picky with lending. So then I said never mind and canceled my account. Go with NAVY FCU if you would like lending at a great bank I was working on my credit 4 years ago I had a 630 fico pretty good history no bad for about 3 years applied with chase, discover, amex all approved for around 1500 limits with a fico of 630 then I applied for NAVY FCU card approved instantly for 15K and then a 2nd card for 15K I love NAVYFCU and they have 0% balance transfer interest no fee for 1 year specials. Now my CL limit after 3 years is 38K don’t have go with PENFED or USAA Bank both are not lender friendly and horrible rates. FYI for USAA insurance quoted under military discount 115 a month for all 3 of my cars. Compared to Gieco same coverage quoted 78 dollars a month under their military discount program. PENFED and USAA came go down in flames!!!!!!!!!

This is a good card - re-read the terms...No annual fee / 9.99%APR / 20,000 bonus points make it so. You must be a PenFed Credit Union Member, but you can qualify by being military, family of military, or - I believe that you can pay a small member fee and join also. 

FYI, this card's annual fee is now gone.  Definitely thinking to jump on this one (based on the returns, I gave it a 4 -- haven't applied yet).

yikes!

Do I hav to be DoD/Pentagon for this?