Posts: 135
Registered: ‎05-25-2013

The affect of INQ vs new accounts for PenFed

I was thinking about applying for PenFed which I hear is very INQ sensitive, well the thing is I have 0 INQ on my Equifax but about 6 new accounts on my report in the last 6 months. 


Do you think I would be able to pass getting in based off of computer calculation do they take that into affect on new accounts as well?

Starting Score: 693
Current Score: 701EQ MyFico 725TU(NFCU pulled)
Goal Score: 720

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Posts: 32,869
Registered: ‎08-04-2007

Re: The affect of INQ vs new accounts for PenFed

They'll pull a FICO and 2 or 3 of the FICO scoring codes deal with new accounts reporting. IMO (and based on IME), it'll be an issue. I first tried with FICOs around 670 but also had 3-4 new accounts reporting inside a year. I was denied with that pyramiding comment they used to give out (or still do) which refers to adding new accounts to lower util. I tried again with FICOs around 750 and was denied. I had 0 inquiries but did have 2 new TLs reporting. Was denied due to new accounts, though they did approve me for their OD LOC (Thrift?).

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