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Established Member


I applied to PENFED back in November 2017. I was denied. Took the time to raise my scores since and I was accepted as of 3/15/2018. A few days after my 29th birthday. I will be making PENFED my main bank of choice and moving my work deposits over to them from Wells Fargo as I have had a very draining and one sided relationship with them. Building a relationship with PENFED is my main goal as I want to utilize their USED CAR BUYING service as well as others. I took the advice of some by applying for an auto loan after opening the account. I was denied but they pulled from the old scores I had. With my update in 4 days I should be in the 700s across the board. Aside from PENFED, I was approved for a $2500 line of credit with Credit One Bank as well. That should post within the coming days.


I'm on the market for a used 2014 E/CLS 63 AMG S-model. I don't care to hear anyones opinions on the car. I dont care about maintenance. Have a mercedes master mechanic as a friend. Links are below. I make about $4300 before taxes monthly and my expenses are a phone bill and rent is less than $800 for me as my roomate and I are best friends and split that. I also dabble in the crypto space and have money for a down payment if needed. The goal is to put 0 down and keep my cash in my pocket. I have paid off  my school loans. I have no kids and no one to take care of etc. My question to the gurus here ? Should I allow the update of the Credit One Bank card to hit my positive revolving before applying again with PENFED for an Auto Loan ? Or once my scores update in the next 4 days try again ? It would be another hard pull though for scores, so I'm on the fence. Any advice or help from the gurus would be greatly appreciated.




Valued Contributor


If you believe your scores will be improved in 4 days, I would wait.


Depending on your profile, a new account may lower your score for awhile. It will bring down your AAoAs and if there was an inquiry that may also depress your score.

This may be overshadowed if you have a decreased utlization because of the new card and this could increase your scores.


The E series is a great car and you already have the key by have a master mechanic friend. Those with the AMG series engines are incredible.

I would recommend just calling PenFed and asking them any questions. Since you now have a relationship with them now they should have some suggestions.


Good luck on getting your car!

Message 2 of 5
Established Member


Don't mind me. I have nothing to add that is relevant to PenFed hahaa but Banarsee.. rhymes with Canarsie. This has nothing to do with nothing but are you in NY? I'm in the market for a G, mildly considering amg. Does your friend work on them? Best of luck!
10/10/18: FICO 08: EQ 783, TU 800, EX 806 ; UTI: 2%
09/10/18: FICO 08: EQ 782, TU 796, EX 803 ; UTI: 5%
08/10/18: FICO 08: EQ 779, TU 788, EX 794 ; UTI: 7%
07/10/18: FICO 08: EQ 776, TU 782, EX 782; UTI: 11%
05/10/18: FICO 08: EQ 750, TU 751, EX 751; UTI: 13%
04/10/18: FICO 08: EQ 738, TU 736, EX 744 ; UTI: 18%
03/10/18: FICO 08: EQ 724, TU 727, EX 735 ; UTI: 27%
02/10/18: FICO 08: EQ 703, TU 719, EX 723 ; UTI: 31%
Starting: 01/10/18 FICO O8: EQ 641, TU 648, EX 675 ; 82% UTI
The Good: Never Missed a payment; No baddies; 1 inq
Gardening since 11/2017
*Goal: EQ 800 TU 800 EX 800*
Message 3 of 5
Established Member


Yes he does LINYGIRL. If you ever need that you can pm or reach out.

Message 4 of 5
Established Member


I'm quite happy to have foudn out PENFED approved me with my previous scores instead of the updated one. I have been in the process of moving my fund for direct deposit over to PENFED and making them my main bank of choice. I've been a Wells Fargo customer since 2013 and have had nothing but issues with them. At one point they didnt let me withdraw 6k of my own money so enough of that. This week I got a buddy of mine to sponsor me to get things started over at NFCU.Will be using them to get a house.


Update on my autloan: I was approved for the max on Capital One's Auto Navigator. I went ahead and picked up a car of choice I will drive for a couple months and refi through PENFED. Then I will possibly trade it in for something I really want and go from there. The deal and APR with Capital One of 7% is amazing.

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