topic Re: PenFed Approval in Auto Loans

PenFed Approval

awal — Mon, 02 Jan 2017 23:11:03 GMT

I applied with PenFed on 12/27/2016 for Membership/Auto Loan.

Instantly approved for $48500 for 60 months at 1.9% towards a 2017 Audi S3, also instantly approved for a $5K CC.

Credit scores at time of approval were

??? EQ

735 TU08

748 EX

Re: PenFed Approval

Anonymous — Tue, 03 Jan 2017 00:21:43 GMT

lol Congrats!! Your EQ has to be pretty good. What CC did you apply for?

I'm still waiting for my result on the AutoLoan.. Says Conditionally Approved..

Jusr basically waiting for my rates and monthly payment info.

PenFed has been really good. Just joined couple of days ago.

Re: PenFed Approval

Appleman — Wed, 04 Jan 2017 14:05:27 GMT

Awal, congrats on the approvals. You may want to consider applying for the PenFed PLOC as well. Should not be another HP, they should use the first pull. My PLOC is at a lower interest rate than my NFCU Navcheck.

Not trying to push you into getting another tradeline but this would be a good time if you do need the PLOC.

Re: PenFed Approval

Anonymous — Wed, 04 Jan 2017 16:00:06 GMT

@Appleman wrote:
Awal, congrats on the approvals. You may want to consider applying for the PenFed PLOC as well. Should not be another HP, they should use the first pull. My PLOC is at a lower interest rate than my NFCU Navcheck.

Not trying to push you into getting another tradeline but this would be a good time if you do need the PLOC.

Thanks Appleman..

Actually got 2 HP from PenFed which the 2nd one I actually disputed with EQ. I even called PenFed and has no ideal why I had 2 HP since they have been pulling the one and only HP they pulled during the membership.

Not trying to abuse them. I went to appd for the Promise Card as well, unfortunately I got denied. Its ok, no HP anyways also I don't really need any more cards I was just trying my luck since they have an HP on me already which I was told is valid for 30 days for all their products.

Also I understand the denial.. I mean getting 7.7% APR on the Auto Loan because of debt to income ratio was already understood that I don't think they would be giving me more credit anytime soon.

So I spoke to the Auto Loan Rep and was told my rates depends on my Bargaining skills with the dealership. If I can get the vehicle at cheaper price and not utilize the full 33K loan approved, my APR rates will definitely go down.

Re: PenFed Approval

Anonymous — Sat, 14 Jan 2017 02:32:14 GMT

Does PenFed only pull TU and EX when you apply?

Re: PenFed Approval

Loquat — Sat, 14 Jan 2017 03:38:50 GMT

@Anonymous wrote:
Does PenFed only pull TU and EX when you apply?

I've been a member with them for a while now and they've always pulled EQ for me. Just got approved for an auto loan myself yesterday...going to be picking up my new car on Monday.

Re: PenFed Approval

Anonymous — Sat, 14 Jan 2017 14:39:58 GMT

@Anonymous wrote:
Does PenFed only pull TU and EX when you apply?

I believe they only pull EQ.

Re: PenFed Approval

Anonymous — Sat, 14 Jan 2017 14:41:08 GMT

@Loquat wrote:
@Anonymous wrote:
Does PenFed only pull TU and EX when you apply?
I've been a member with them for a while now and they've always pulled EQ for me. Just got approved for an auto loan myself yesterday...going to be picking up my new car on Monday.

Wow! Cool.. For how much and what is your APR rate?

I still haven't used mine.. They told me I have 45 days.

Re: PenFed Approval

Loquat — Sat, 14 Jan 2017 20:04:47 GMT

@Anonymous wrote:
@Loquat wrote:
@Anonymous wrote:
Does PenFed only pull TU and EX when you apply?
I've been a member with them for a while now and they've always pulled EQ for me. Just got approved for an auto loan myself yesterday...going to be picking up my new car on Monday.
Wow! Cool.. For how much and what is your APR rate?

I still haven't used mine.. They told me I have 45 days.

I was approved for $42k and 2.4% for 60 months.

Re: PenFed Approval

Anonymous — Sat, 14 Jan 2017 20:36:09 GMT

@Loquat wrote:
@Anonymous wrote:
@Loquat wrote:
@Anonymous wrote:
Does PenFed only pull TU and EX when you apply?
I've been a member with them for a while now and they've always pulled EQ for me. Just got approved for an auto loan myself yesterday...going to be picking up my new car on Monday.
Wow! Cool.. For how much and what is your APR rate?

I still haven't used mine.. They told me I have 45 days.
I was approved for $42k and 2.4% for 60 months.

Nice Rate.. Mine is 33K at 7.7% APR

Re: PenFed Approval

awal — Mon, 30 Jan 2017 23:52:13 GMT

@Anonymous wrote:
lol Congrats!! Your EQ has to be pretty good. What CC did you apply for?

I'm still waiting for my result on the AutoLoan.. Says Conditionally Approved..

Jusr basically waiting for my rates and monthly payment info.

PenFed has been really good. Just joined couple of days ago.

I applied for the Platinum Cash Rewards to take advantage of the cash back on gas purchases. I think its 5% if i satisify a couple of conditions with my checking account.

Re: PenFed Approval

awal — Mon, 30 Jan 2017 23:54:18 GMT

@Appleman wrote:
Awal, congrats on the approvals. You may want to consider applying for the PenFed PLOC as well. Should not be another HP, they should use the first pull. My PLOC is at a lower interest rate than my NFCU Navcheck.

Not trying to push you into getting another tradeline but this would be a good time if you do need the PLOC.

I just app'd for a PLOC, I'll post back once I get some sort of response (good or bad).