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Senior Contributor
smallfry
Posts: 4,831
Registered: ‎04-20-2007

Re: PenFed/JFCU

Penfed is the 3rd largest CU in the country. I've heard JFCU will grill you on the phone asking for incidentals about the BK. Who needs that?
Established Contributor
FaircreditguyFL
Posts: 665
Registered: ‎03-31-2007

Re: PenFed/JFCU

That's the first I heard JFCU grilling anyone. Perhaps the times are changing with JFCU...
Senior Contributor
smallfry
Posts: 4,831
Registered: ‎04-20-2007

Re: PenFed/JFCU

All over CB at least the last 6 months or so.
Established Contributor
beenthere
Posts: 971
Registered: ‎01-13-2008

Re: PenFed/JFCU



cheddar wrote:
I can't answer your questions about BK, but the qualifying organization for joining JFCU is the National Sherrifs Association.  Anyone can join.
 


Oh. I saw that but wouldn't figure anyone could join. This is a good thing. Thank you.
1-14-08....... TU=683, EQ=667, EX=666
7-04-08....... TU=688, EQ=678, EX=682.......
.......4 of my 5 cards and a new car later.
2/13/09 and forever EX 693
Established Contributor
beenthere
Posts: 971
Registered: ‎01-13-2008

Re: PenFed/JFCU



FaircreditguyFL wrote:
With the 5.6 year old BK, I would go with JFCU. If you get your score up another 25 pts, I would then apply for PenFed. JFCU will ask for financial documentation and set your exposure limit to 30% of your income (but will go higher). PenFed has yet to ask me for financial info... and gave me a lower credit limit than JFCU.

You can't wrong with either IMHO.

Thank you.
I do have every reason to believe I will be in the 700s across the board well before years end. I will be researching both institutions very carefully.
1-14-08....... TU=683, EQ=667, EX=666
7-04-08....... TU=688, EQ=678, EX=682.......
.......4 of my 5 cards and a new car later.
2/13/09 and forever EX 693
Established Contributor
beenthere
Posts: 971
Registered: ‎01-13-2008

Re: PenFed/JFCU



FaircreditguyFL wrote:
... and PenFed DOES NOT like recently open tradelines.

Message Edited by FaircreditguyFL on 05-05-2008 02:25 PM

How recent is recent?
1-14-08....... TU=683, EQ=667, EX=666
7-04-08....... TU=688, EQ=678, EX=682.......
.......4 of my 5 cards and a new car later.
2/13/09 and forever EX 693
Established Contributor
beenthere
Posts: 971
Registered: ‎01-13-2008

Re: PenFed/JFCU

6 figures? Not even close. LOL.

smallfry wrote:
Income helps with Penfed. IMHO that are light years better than JFCU. Are you in or close to 6 figures?


1-14-08....... TU=683, EQ=667, EX=666
7-04-08....... TU=688, EQ=678, EX=682.......
.......4 of my 5 cards and a new car later.
2/13/09 and forever EX 693
Established Contributor
FaircreditguyFL
Posts: 665
Registered: ‎03-31-2007

Re: PenFed/JFCU



beenthere wrote:


FaircreditguyFL wrote:
... and PenFed DOES NOT like recently open tradelines.

Message Edited by FaircreditguyFL on 05-05-2008 02:25 PM

How recent is recent?





last 6 months
Established Contributor
FaircreditguyFL
Posts: 665
Registered: ‎03-31-2007

Re: PenFed/JFCU

[ Edited ]

smallfry wrote:
All over CB at least the last 6 months or so.




I'm a CBer, too. I can't say that I've read every JFCU post, but from memory they have been very BK friendly. I do realize they have been bombard with apps the past couple months, but I have found them to be very timely on each of my request. I can personal attest to calling for a loan by phone, approved, and funded by the time I hung up the phone. I will say each (except for my last loan product)required financial documentation.

As for Penfed... 6 figs? Not quite. No problem obtaining products and have never been asked to provide financial documentation for $40,000 in credit.

Each of us have a different experiences with creditors. I have great LUCK with each of my credit unions - 5 in all.

Message Edited by FaircreditguyFL on 05-05-2008 06:15 PM
Senior Contributor
smallfry
Posts: 4,831
Registered: ‎04-20-2007

Re: PenFed/JFCU



FaircreditguyFL wrote:

smallfry wrote:
All over CB at least the last 6 months or so.




I'm a CBer, too. I can't say that I've read every JFCU post, but from memory they have been very BK friendly. I do realize they have been bombard with apps the past couple months, but I have found them to be very timely on each of my request. I can personal attest to calling for a loan by phone, approved, and funded by the time I hung up the phone. I will say each (except for my last loan product)required financial documentation.

As for Penfed... 6 figs? Not quite. No problem obtaining products and have never been asked to provide financial documentation for $40,000 in credit.

Each of us have a different experiences with creditors. I have great LUCK with each of my credit unions - 5 in all.

Message Edited by FaircreditguyFL on 05-05-2008 06:15 PM


No doubt they wanted to see docs from me because of the BK.

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