Penfed question

[Anonymous]

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@Appleman wrote:

As soon as you are given membership apply for the products that you can use. 

I was able to get PLOC, Checking over draft, 2 CCs and an auto refinance from the first Equifax pull.

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which ones count as new tradelines? *im newb. just wanna confirm, if i ever... as it would affect AAoA. thanks in advance! 

[DoroLucky]

@Incubus I believe they all will except for the overdraft protection because I'm not exactly sure what it is or how it works in realation to credit....but yeah they're all new TL off 1 HP. Dang reminds me, I'm still in that 90 days window (well a rep said 60, I'll call back to confirm) maybe I need to grab another card and PLOC lol

[Anonymous]

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@DoroLucky wrote:
@Anonymous I believe they all will except for the overdraft protection because I'm not exactly sure what it is or how it works in realation to credit....but yeah they're all new TL off 1 HP. Dang reminds me, I'm still in that 90 days window (well a rep said 60, I'll call back to confirm) maybe I need to grab another card and PLOC lol

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thanks! i guess i'll definitely go for that overdraft protection then, if ever. =p  *AAoA > new tradelines for me. at least, that's the idea. lolz. 

[Anonymous]

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@Anonymous wrote:

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@DoroLucky wrote:
@Anonymous I believe they all will except for the overdraft protection because I'm not exactly sure what it is or how it works in realation to credit....but yeah they're all new TL off 1 HP. Dang reminds me, I'm still in that 90 days window (well a rep said 60, I'll call back to confirm) maybe I need to grab another card and PLOC lol

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thanks! i guess i'll definitely go for that overdraft protection then, if ever. =p  *AAoA > new tradelines for me. at least, that's the idea. lolz. 

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Even the overdraft counts as a new trade line and affects your AAoA.  It reports as revolving credit just like a credit card.

[Anonymous]

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@Anonymous wrote:

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@DoroLucky wrote:
@Anonymous I believe they all will except for the overdraft protection because I'm not exactly sure what it is or how it works in realation to credit....but yeah they're all new TL off 1 HP. Dang reminds me, I'm still in that 90 days window (well a rep said 60, I'll call back to confirm) maybe I need to grab another card and PLOC lol

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thanks! i guess i'll definitely go for that overdraft protection then, if ever. =p  *AAoA > new tradelines for me. at least, that's the idea. lolz. 

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I opened an account last week and had 2 hard pulls a day apart. I'm pretty sure the UW I spoke to the following day did a 2nd pull for the reconsideration on the LOC.

i was denied on the initial app and then approved by manual review, they also approved me for a car loan, so either one or both caused the HP and the UW do not tell me there would be a 2nd pull. No biggie I am extremely happen with the outcome, Promise CC, Overdraft protection, LOC and a car loan.

PenFed is everything I wanted.

[Anonymous]

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@Anonymous wrote:

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@Anonymous wrote:

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@DoroLucky wrote:
@Anonymous I believe they all will except for the overdraft protection because I'm not exactly sure what it is or how it works in realation to credit....but yeah they're all new TL off 1 HP. Dang reminds me, I'm still in that 90 days window (well a rep said 60, I'll call back to confirm) maybe I need to grab another card and PLOC lol

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thanks! i guess i'll definitely go for that overdraft protection then, if ever. =p  *AAoA > new tradelines for me. at least, that's the idea. lolz. 

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Even the overdraft counts as a new trade line and affects your AAoA.  It reports as revolving credit just like a credit card.

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oh i see! never mind then! =p

thanks for the clarification, irish! =)

[DoroLucky]

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@Anonymous wrote:

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 i was denied on the initial app and then approved by manual review, they also approved me for a car loan, so either one or both caused the HP and the UW do not tell me there would be a 2nd pull. No biggie I am extremely happen with the outcome, Promise CC, Overdraft protection, LOC and a car loan.

PenFed is everything I wanted.

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BB2, how do you get the overdraft protection? I've looked all over their site but don't see it. It was offered to me when I app'ed but I said I'll think about it. Thanks!

[takeshi74]

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@Anonymous wrote:

my scores are eq719, tu 691, ex 721,

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It's never just about score but I'm assuming those are FICO 8's?  Always consider the specific scoring model.  Also consider what CRA and model a creditor/product uses.  PenFed doesn't use FICO 8.  PenFed uses an EQ FICO NextGen.  You cannot use a score generated by one model to determine a score generated by a different model.

You can refer to the Credit Pulls Database (Google to find), if desired.

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@Anonymous wrote:

inq on eq,4 tu and 10 ex...using 5% avail credit, 11 months of average credit.....salary of $57000/yr....any chance?

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How many new accounts and over what time frame?  Look up prior PenFed threads on "pyramiding".

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@Anonymous wrote:

AAoA > new tradelines for me. at least, that's the idea.

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You have to find the right balance.  While opening new accounts does tend to decrease AAoA, having more tradelines does build AAoA.  In other words, one with more aged tradelines will generally see less of an impact to AAoA from opening a new account versus someone with fewer and younger tradelines.

[Appleman]

Correct, All except the overdraft have shown up as tradelines.

[Anonymous]

ok 2 votes for it as a non-TL. got it! thanks!