Does PenFed Track Other Accounts?

[CreditUnionFan]

Getting "in" to PenFed is on my wish list. I have a membership there, but whenever I try to apply for any loan products, I get declined.

The #1 reason is a serious delinquency, since I went through HAMP two years ago. I can't do much but maintain perfect payments on everything moving forward, which I am.

Some instituations value "the relatiionship", meaning they like to see additional accounts. Does PenFed work this way?  All I have is the basic shares/savings account there. My direct deposit goes up to a different CU because of the auto loan rate discount. I've gotten to the point though where I've paid off any balances that involve interest on my credit cards, and could divert a few dollars into checking, certificates, etc down at PenFed.

[Revelate]

I don't know Penfed first-hand but I'm hard pressed to think of ANY bank which doesn't leverage the concept of relationships these days.

I'd opened an account two years ago but they've changed their CC reward structure and I'm not going to be looking for an auto nor personal (if they even do these) loan anytime soon.  Perhaps if their rates and reviews aren't terrible I may try them when shopping for a mortgage.  

That all said, Penfed is one of the most conservative lenders in my experience.  Being a mixed file, and will be for a while, they're really not high on the list for me to try to get ingrained with as I'm wrapping my arms around Amex and Chase personally.

[CreditUnionFan]

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@Revelate wrote:

I don't know Penfed first-hand but I'm hard pressed to think of ANY bank which doesn't leverage the concept of relationships these days.

I'd opened an account two years ago but they've changed their CC reward structure and I'm not going to be looking for an auto nor personal (if they even do these) loan anytime soon.  Perhaps if their rates and reviews aren't terrible I may try them when shopping for a mortgage.  

That all said, Penfed is one of the most conservative lenders in my experience.  Being a mixed file, and will be for a while, they're really not high on the list for me to try to get ingrained with as I'm wrapping my arms around Amex and Chase personally.

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My wife refinanced her used car loan that was 6-ish down to 1.99, with no direct deposit requirement, for a full five years. She was preapproved for the Visa, but for whatever reason she didn't end up with it, and the largest reason I think is that she didn't follow up on it. The car loan experience was fine.