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Still waiting on my USA Fed app to go through, but i have a question

Valued Member

Still waiting on my USA Fed app to go through, but i have a question

 I am on my third day of waiting to be accepted into USA Fed in order to get into NFCU. I am also now eligible to join Pen Fed and was wondering if I should go ahead now and join that as well?

 

I won't be immediately applying for credit products as i have a few inq about to fall off and my stupid orchard bank account hasnt updated in 2 months and is showing 50% util (on a 300cl). Irecently did get a nationwide bank card that effectively multiplied my available credit 10x.

 

What do you guys think?

 

Wait to join penfed till i can then immedaitely apply for CC (hoping to only get one pull)

 

or

 

Join now and sit on it and wait till then and app (while watching for offers to popup)

EQSmiley Frustratedtart: 656 (09-22-10)
Current: 705

TU:Current: 715
Target: 760
Message 1 of 6
5 REPLIES
Super Contributor

Re: Still waiting on my USA Fed app to go through, but i have a question

I would say join penfed now and wait for their preapprovals to show

Message 2 of 6
Valued Member

Re: Still waiting on my USA Fed app to go through, but i have a question


concorduser wrote:

I would say join penfed now and wait for their preapprovals to show


 

 

Im leaning toward that as well just trying to get some opnions. I want to make the right choice!

EQSmiley Frustratedtart: 656 (09-22-10)
Current: 705

TU:Current: 715
Target: 760
Message 3 of 6
Senior Contributor

f you IRe: Still waiting on my USA Fed app to go through, but i have a question

If planning on cleaning up to be eligible for Pen Fed credit products--do that 1st--before joining, so that when you do join they can also use the inq pulled for  membership for your loan app. too.  

 

There's no point in wasting a pull for just membership (this is what I did, well not on purpose, they denied my cc app.) showing them your baddies, and then having to take another hit when you eventually qualify...at which point, even though your report may look cleaner, they'll always have your initial submission on record showing neg info.

DCU EQ 5.0, Citi EQ 08 Bankcard, PenFed EX NG2
EX 08: AFCU, Amex, Chase, PSECU EX 98(?)
TU 08: Barclays, Discover
Message 4 of 6
Valued Contributor

Re: Still waiting on my USA Fed app to go through, but i have a question


Sdvivian wrote:

concorduser wrote:

I would say join penfed now and wait for their preapprovals to show


 

 

Im leaning toward that as well just trying to get some opnions. I want to make the right choice!


My advice will be same as concord.

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
It's very tough with small income ~ The Rewards are big little helper to me.
Message 5 of 6
Senior Contributor

Re: Still waiting on my USA Fed app to go through, but i have a question

 


bunnyrabbit wrote:

Sdvivian wrote:

concorduser wrote:

I would say join penfed now and wait for their preapprovals to show


 

 

Im leaning toward that as well just trying to get some opnions. I want to make the right choice!


My advice will be same as concord.


 

OP - The bottom line is that you'll be waiting a looooong time for preapprovals, or they may never come, unless you have near perfect credit.

I've been with them for a couple of years and nothing (many others with v. good but not excellent credit like me have had a similar experience) also spending an inq for savings acct. is not a good move IMO but can't hurt if you feel you have inq to burn.

DCU EQ 5.0, Citi EQ 08 Bankcard, PenFed EX NG2
EX 08: AFCU, Amex, Chase, PSECU EX 98(?)
TU 08: Barclays, Discover
Message 6 of 6