Credit Card Center Advertiser Disclosure

New Member
Posts: 3
Registered: ‎01-29-2013
0 Kudos

(Another) Will I be approved thread

[ Edited ]

Hey all, this question is geared towards the NFCU and PenFed Experts


My fico score is around 610, I've never had a negative mark on my auto accounts going back to 2007 when I bought my first car.


I recently had high CC utilization but I have paid that down so that my total utilization is around 60%.Hopfeully my score jumps a little more after the banks report those payments.


What I am trying to do is trade out of a rapidly depreciating car and roll about half the negative equity (and down payment the other half).


The last two cars I bought were $37,000 and $24800. I still have the less expensive one, and will be trading the more expensive one.


What are the chances of getting approved via NFCU or PenFed?  Has anyone done a "Second auto" through them?



Valued Contributor
Posts: 3,406
Registered: ‎12-19-2012
0 Kudos

Re: (Another) Will I be approved thread

You need to get your utilization down around 30%. Less than 10% is ideal. To answer your question we need your income, the balance left on the car you plan to trade in and how much you anticipate getting for it, and the purchase price of the car you are considering. Too much negative equity can burn a deal.
Cards: Orchard Bank ($1100) | Cap1 Cash Rewards ($2500) | Chase Freedom ($1000) | Best Buy ($2500) | Discover It ($1000) | Barclay Rewards ($2500) | Current scores: EX FAKO: 684, CK TU: 649, FICO EQ: 680, FICO TU: 698, FICO EX: 658 Happy Homeowner Since 2/6/13! Smiley Happy Last App: 4/5/13 Gardening until July 2014

Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.

† Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
‡ Credit cards for FICO Score ranges: The score ranges are guidelines based on internal myFICO analysis of actual applicant approvals, and having a FICO Score in a particular range does not guarantee you will be approved for credit cards recommended in that range. These ranges were not provided by any card issuer.

* For complete information, see the terms and conditions on the credit card issuer’s website. Once you click apply for this card, you will be directed to the issuer’s website where you may review the terms and conditions of the card before applying. While myFICO always strives to present the most accurate information, we show a summary to help you choose a product, not the full legal terms - and before applying you should understand the full terms of products as stated by the issuer itself.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.