Regular Contributor
Posts: 159
Registered: ‎02-21-2008
Apply to PenFed now or later?

After some research, I think I'd like to try becoming a penfed member and possibly get a CC through them. (As well as a used car loan down the road)


Currently all 3 scores are around 650, I only have 2 open lines of revolving credit totalling $2150 at 1% util. I also have a CO cc debt of $12k in collections which I'm currently negotiating to settle for. I won't be in a position to pay this off for at least 2 more months.


I know PenFed pulls EQ (662) just to become a member. Should I..


A) Join today and get a membership started (assuming I'm approved) and wait until I've settled the collection to apply for a CC through them

B) Wait unti Ilve settled the collection before even applying to become a member

C) Go for both today and see what happens


Thanks for reading.

Starting Score: 556
Current Score: 672, 681, 692
Goal Score: 700, 700, 700

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