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Regular Contributor
krisosa
Posts: 171
Registered: ‎03-11-2009
0

Penfed

Hi guys,

 

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? 

 

Ty,

 

K

Equifax 657
Experian 711 (Per Lender)
Frequent Contributor
dizbuster
Posts: 289
Registered: ‎12-01-2008
0

Re: Penfed

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.

A smooth sea never made a skilled mariner.
7/6/2009 Equ 664 TU 680 (15 and 19 point jump respectively this week, over 100 point increase in 6 months)
Regular Contributor
krisosa
Posts: 171
Registered: ‎03-11-2009
0

Re: Penfed

:smileyhappy: Congrats to you!  Thanks for the feedback......I will look into that secured card as well

 

K

Equifax 657
Experian 711 (Per Lender)
Senior Contributor
smallfry
Posts: 4,831
Registered: ‎04-20-2007
0

Re: Penfed

OP since they have already pulled your EQ you might as well apply for a credit card.
Moderator Emerita
Community Leader
Epic Contributor
haulingthescoreup
Posts: 28,098
Registered: ‎04-01-2007
0

Re: Penfed

The hard inq on EQ is for simply joining PenFed. It's good for 60-90 days.

I'd say you're a ways from being in their preferred score range for a CC, but keep an eye out for any other offers.
* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007
Regular Contributor
krisosa
Posts: 171
Registered: ‎03-11-2009
0

Re: Penfed

kool, thank you !

 

k-

Equifax 657
Experian 711 (Per Lender)

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