Credit Cards

[ficojoe]

I do not believe my scores are good enough for PenFed. Are there steps I can take to make securing a card more likely in the future? Opening an account first? Trying for a secured card first? How easy is a secured card to get from PenFed?

[Crashem]

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ficojoe wrote:
I do not believe my scores are good enough for PenFed. Are there steps I can take to make securing a card more likely in the future? Opening an account first? Trying for a secured card first? How easy is a secured card to get from PenFed?

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what's yourequifax score like?

[ficojoe]

About 650 last I checked myfico, 676 fako today (usaa plus score)

[Crashem]

How long to get to 720 do you think.  Probably low end of approval for Penfed at 720.  Establish account and have your banktransfer in month to account onregular basis. Might as well apply when you join as you will take inquiry for joining.  Hopefully they start softing you every quarter and preapproved when score is high enough.

[ficojoe]

720 even for secured?

[ficojoe]

Penfed gives inq for just opening savings?

[kevinjjc]

Yes, PenFed does a hard inquiry when you join their credit union by opening a share savings account.

[jsucool76]

Almost all credit unions do this, it's something you live with to get their (usually) better products than banks have xD

[haiti222]

Have some good cards, then don't open up or apply for anything new for a year or more. Then, apply to Penfed, showing no new cards and no inquiries for a year. Call for recon if you get declined, seriously.  PenFed dislikes new cards and inquiries, but they do want to see recent positive history. 

[CreditChampion]

Do you have your deposits goin into PennFed Crash? Trying to see if it would be a good idea to talk get my father to move his deposits from wells fargo.