firstinlastout, I have never, ever, ever read of PenFed pulling ANYONE other than EQ. Yes, the National Military Families Association option is the way to go.
As Peas said, do a search here on PenFed to get a feel for what they want. You'll get plenty of results, because they have gotten really hot here over the last several months.
Generally speaking, they want an EQ in the upper 600's and above, low util, very few recently opened accounts, and a reasonably clean credit report without recent baddies, as in within the last 12 months. If you're weak in one of these areas, but really strong in others, that might be enough. With a good income, they are very generous.
Many people have to show proof of income. I didn't, because I could tell them that I'm a GS 8/7, and they either took me at my word or somehow verified it on their end. (Scary!) Although I'm a Federal employee, my agency doesn't qualify me for PenFed membership, or anything else
, so I did the NMFA deal.
I got the gas card, praise the heavens above, and a car loan. Great people, great organization, deeply primitive website, although I think that they are working on this.
* 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