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CyndibemyLOVE
Posts: 94
Registered: ‎02-04-2008
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Alliant & Penfed at the same time????

I currently have a good relationship with Alliant and have my SUV financed with them and a Personal Loan. I was wondering if I would have problems getting up with Penfed to, or will they Bulk at the fact that I am with the other. I am wanting to finance a second auto and think that Alliant will bulk on that since I just goot the refinance and a personal loan in the last 2 months of being with them.

 

I have a score in the upper 600 range.....

 

I am Self-Employed and have all my tax returns but with Alliant have not had to prove income.... How is Penfed with the proving income?

 

Thanks to all!!!!

Regular Contributor
Lyythine
Posts: 206
Registered: ‎03-05-2009
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Re: Alliant & Penfed at the same time????

PenFed usually likes you to prove income... also, you might have a problem getting financing with any good rate with penfed with your scores.  Your scores arent bad, but they usually like 700 and above to give you any prime rate... I mean, I just app'd a few weeks ago and they offered me 6.xx%, which was crazy when NFCU offered me 3.99 - not to mention my scores are almost all over 800 now.  Give them a shot!  But dont expect too much and you might be pleasantly surprised
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haulingthescoreup
Posts: 28,115
Registered: ‎04-01-2007
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Re: Alliant & Penfed at the same time????

[ Edited ]
We have another member here (my brain has completely spaced on the name) who is self-employed and can't get anywhere with PenFed.

I don't think your chances are very good.


eta: sorry, coffee still kicking in. Maybe an auto loan, although I'm not very sure about that. They're taking really hard looks at new members now.
Message Edited by haulingthescoreup on 06-11-2009 03:39 AM
* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007
Valued Member
Hawnted
Posts: 44
Registered: ‎06-08-2009
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Re: Alliant & Penfed at the same time????

[ Edited ]
Lyy is right, YM will DEFINATELY vary with Penfed. I just got in with them, my income is a tad higher than Lyys, but I have just a tad lower scores than him and I got the 3.99 rate. And I was only a member for a couple of days. It wont hurt to be a member of both if you can take the inquiry I would imagine. Also, they use one inquiry for 60-90 days so if you are needing anything you can get in with penfed and apply to everything you need within that time with only 1 inq.
Message Edited by Hawnted on 06-11-2009 08:06 AM
Established Contributor
Itsmeagain
Posts: 832
Registered: ‎01-16-2008
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Re: Alliant & Penfed at the same time????

My scores are mid 700's.  I was a PenFed member for over a year when I apped for their CC.  I am self employed.  I had 3 inq's on EQ at the time.

 

Denied for "Pyramiding Credit"

 

BTW . . . Alliant will pull a hard any time you apply for credit.  Even if it has only been a few days since your last pull.


Starting Score: TU 737 EQ 721
Current Score: TU 741 EQ 741
Goal Score: TU 765 EQ 760


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usmc58555
Posts: 1,673
Registered: ‎02-18-2009
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Re: Alliant & Penfed at the same time????

Penfed will do nothing for you. You will waste time, money and an inquiry.
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Senior Contributor
UpUpUp
Posts: 3,017
Registered: ‎06-03-2008
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Re: Alliant & Penfed at the same time????


haulingthescoreup wrote:
We have another member here (my brain has completely spaced on the name) who is self-employed and can't get anywhere with PenFed.

I don't think your chances are very good.


eta: sorry, coffee still kicking in. Maybe an auto loan, although I'm not very sure about that. They're taking really hard looks at new members now.
Message Edited by haulingthescoreup on 06-11-2009 03:39 AM

Thinking of me, Hauling?  

 

OP, do a search for my name and PenFed and see whatcha turn up. :smileywink:

Contributor
CyndibemyLOVE
Posts: 94
Registered: ‎02-04-2008
0

Re: Alliant & Penfed at the same time????

Thanks for all the info.... I think i will just stick with Alliant since they have been very helpful and hope they will do a second auto loan...

 

With Alliant you can use your pulled score for 30 days per the Senior Loan Officer I have been going through. My brother was also told that when he was looking for a car. They told him to try and find one within 30 days so another pull would not have to be done...

 

Thanks to alll!!!!

Contributor
CyndibemyLOVE
Posts: 94
Registered: ‎02-04-2008
0

Re: Alliant & Penfed at the same time????

Well I went ahead and called up the loan officer I have delt with since opening the account with them and got a pre approval for $50,000 @ 5.9 APR on a second car loan ( he even said if I need more just give a call to him) with them and that is with a score of 645 (Fico) This makes three loans with them in 3 moths so I must say Jaguar dealer here I come Monday........ I have not had to verify my income and they know I am Self-Employed. I love this place cause any bank I know would have laughed at a $7000 unsecured Personal Loan with a score of 632 at the time. The loan officer said to wait another three months and he would give me a good Credit Card so I can close some of these high fee cards I have. I do have a good income so that must play a large role in my approvals but I am shocked they dont want me to verify with a low 600 score like i have but i guess this is why there is so much talk about Alliant these days. I have my brother going with them now...... 

 

ALLIANT ROCKS!!!!!

Frequent Contributor
ocheosa
Posts: 372
Registered: ‎06-15-2007
0

Re: Alliant & Penfed at the same time????


CyndibemyLOVE wrote:

Well I went ahead and called up the loan officer I have delt with since opening the account with them and got a pre approval for $50,000 @ 5.9 APR on a second car loan ( he even said if I need more just give a call to him) with them and that is with a score of 645 (Fico) This makes three loans with them in 3 moths so I must say Jaguar dealer here I come Monday........ I have not had to verify my income and they know I am Self-Employed. I love this place cause any bank I know would have laughed at a $7000 unsecured Personal Loan with a score of 632 at the time. The loan officer said to wait another three months and he would give me a good Credit Card so I can close some of these high fee cards I have. I do have a good income so that must play a large role in my approvals but I am shocked they dont want me to verify with a low 600 score like i have but i guess this is why there is so much talk about Alliant these days. I have my brother going with them now...... 

 

ALLIANT ROCKS!!!!!


 

Congrats on your new car!

I'm an Alliant Cheerleader myself!! GOOoooo Alliant!!!happy smileys

01/04/10 TU 778 EQ 731
08/05/09 TU 762 EQ 722
02/12/09 TU 722 EQ 704 EX 690
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