cancel
Showing results for 
Search instead for 
Did you mean: 

PENFED AUTO LOAN HELP

Regular Contributor

PENFED AUTO LOAN HELP

Hi I want to know if anyone has any input on Penfed auto loan approval process?...I've been shopping around with different CU's and long story short my income is good, work history is good, my file is thin. FYI I tried DCU they denied my membership due to chexsystem..ugh..thanks for any input....

Message 1 of 5
4 REPLIES 4
Highlighted
Frequent Contributor

Re: PENFED AUTO LOAN HELP

Hi @britt585

Did you Find out what the chexsystems is about so you can get more info ?


2018 Dec Starting Score: 700
Current Score: 778
Achieved Goal Score 2020: 800


Take the myFICO Fitness Challenge












Message 2 of 5
Highlighted
Regular Contributor

Re: PENFED AUTO LOAN HELP

Well my chex system report has nothing negative however I have 8 inquiries....That seems to be a big deal to CU's (DCU,BECU,Bellco etc)...

Message 3 of 5
Highlighted
Super Contributor

Re: PENFED AUTO LOAN HELP

PenFed is a conservative credit union. If you're not able to get membership with BECU, DCU, then your chances with PenFed is not looking good. They're very sensitive to pryamiding debt.

You can try, they'll hard pull EQ9 for membership. Expect additional hard pulls for credit or loan products.
Message 4 of 5
Highlighted
Regular Contributor

Re: PENFED AUTO LOAN HELP

I called them and asked about membership process...They don't pull chex or early warning....CSR said they look at your credit....Not sure if they will approve me for auto loan....

Message 5 of 5
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.