I just wanted to share my experience with penfed. My fico scores are TU 604, EQ 600 and EX (?) -
I read and read posts regarding the savings and checking accounts with the CU.
I thought okay, Im not in chex and I should be fine for a savings account, I applied last night. Well, I pulled my CR this morning and said OH S*** they pulled my report for a savings account. WTH, I immed said to myself I am defintely denied, due to still cleaning up things. Well, I ended up calling them a few minutes ago and asked a few questions, and the rep was really nice. She said well do you want a checking acct too? I said sure.
On hold for about 5min. She came back and said okay, we got it all set up for you. Congats on becomming a new Penfed member....... Wow! I was very excited. Even tho its only a savings/checking......
What are the chances of a cc later?
I did the same thing with Alliant CU. I applied for only a savings/checking with them as my scores are not that great either. I was turned down online for both. Then a couple of days later I get an email from Alliant saying welcome to Alliant. I got the welcome kit a few days after that. It was a hard pull on EQ, so I was bummed they said no, but to my surprise they opened a check/saving for me. Of course no instant credit approvals but I knew that anyway.
I think that in my situation and probably yours as well it will just take time to build a relationship with these CU's and in the future as our bad's begin to fade, we will be glad we joined.
eta: I'm going to open a secured loan with Alliant in next few days. No credit pull and guarenteed approval. This should help get the ball rolling for future credit considerations. Maybe you could look into something similar with Penfed.