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Pen Fed 60-90 day rules !!

Established Contributor

Pen Fed 60-90 day rules !!

I'm going to enter this under the CC section because that's what I got into PF for.

I took advantage of the 60-90 Credit Report Pull to apply for a car refinance. My score when I applied for my 2 CC's was 748. It is now 669. (EQ).

Approved immediately for 4.25% .

I had 17 months left on my GMAC loan at $526 per month. I went to 24 months at $240 a month.

Asked to have it taken right out of my new PF checking acct, opened last night, and the CR asks if I wan't more than the $500 overdraft that's automatic w/ new acct's.. I say sure , does that come out of the same 60-90day pull ?? Why yes, let me see.......... you are good for 5000k overdraft. Thank you I'll take it.

I like these people. The are very nice and generous w/ me.

Jax
Jax

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Then you are a fool. Be thankful that when God gave you a face, he gave you a fool's face
Message 1 of 5
4 REPLIES
Regular Contributor

Re: Pen Fed 60-90 day rules !!

Wow, what was the rate on your old car loan????
 
 
Message 2 of 5
Established Contributor

Re: Pen Fed 60-90 day rules !!

Sorry, the new loan is 36 months. That makes a difference huh ??

The rate on the old loan was 16%.

GMAC can be a predatory type lender when they want. Luckily I made good income, just had horrible credit 3 1/2 yrs ago.

It works out to be less money by a couple of hundred bucks overall but NO ONE would give me a refi at all until now.



Jax
Jax

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Then you are a fool. Be thankful that when God gave you a face, he gave you a fool's face
Message 3 of 5
Senior Contributor

Re: Pen Fed 60-90 day rules !!

4.25% is nice isn't it? I think Penfed is great.
Message 4 of 5
Highlighted
Established Contributor

Re: Pen Fed 60-90 day rules !!

Super Congrats Jax!!!! Smiley Happy
 
The PenFed train keeps chuggin' right along!!! Smiley Happy
 
Going from $526/month to $240/month is a HUGE drop.
Thank goodness for 60-90 day credit snapshots. Smiley Happy
 
Once again, congratulations! Smiley Happy
 
 
CanDo
 
"The right attitude is everything"
Message 5 of 5