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FICO score of 737 and 5 year average credit history with one not so recent paid charge-off utility, do I have shot for getting a Schwab or Penfed card?
I don't know about Schwab, but Penfed is not all about the Fico...
do you have any new accounts? (PF doesn't like them) - esp. not under a year. maybe even 2 years.
do you have any inqs? (PF doesn't like them - at all)
is your util low? (PF likes it low)
are you carrying any large-ish balances, even if your util is low? (PF doesn't like high balances)
If you can meet the above, then you might have a chance, even with a paid CO from a utility. Or at least a good shot on recon.
(This is IME only - when I applied, I had 750 Ficos, 13% util and new-ish accounts, NO baddies and ~ $12k in balances showing and got turned down. U/W told me to pay the balances waaaay down, then I could think about reapplying.)
good luck!
@ma_fico wrote:I don't know about Schwab, but Penfed is not all about the Fico...
do you have any new accounts? (PF doesn't like them) - esp. not under a year. maybe even 2 years.
do you have any inqs? (PF doesn't like them - at all)
is your util low? (PF likes it low)
are you carrying any large-ish balances, even if your util is low? (PF doesn't like high balances)
If you can meet the above, then you might have a chance, even with a paid CO from a utility. Or at least a good shot on recon.
(This is IME only - when I applied, I had 750 Ficos, 13% util and new-ish accounts, NO baddies and ~ $12k in balances showing and got turned down. U/W told me to pay the balances waaaay down, then I could think about reapplying.)
good luck!
howhow16 wrote:
I think I meet all the requirement except for my util...it's a lil bit too high that's why I want to add a new card, guess I'll wait it out or apply for another other card..maybe discover... =(