Pen Fed 60-90 day rules !!

[jaxstraw]

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

[Anonymous]

Wow, what was the rate on your old car loan????

[jaxstraw]

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

[smallfry]

4.25% is nice isn't it? I think Penfed is great.

[Anonymous]

Super Congrats Jax!!!!

The PenFed train keeps chuggin' right along!!!

Going from $526/month to $240/month is a HUGE drop.

Thank goodness for 60-90 day credit snapshots.

Once again, congratulations!

CanDo

"The right attitude is everything"