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PenFed Auto Loans

usmc58555
Valued Contributor

Re: PenFed Auto Loans

Send them 20.00.

 

Then send them 10.00 every 6 months.

 

I joined in February based on advice from this site, not knowing how conservative they were. Once I realised I had extreme second class status just in the banking priveledges I had I will just send them $10.00 every 6 months until they become usefull or I decide its hopeless and close the account

 

I am So GLAD I became  a member of NFCU.

Signature line begins:
Credit is not a right, but a business transaction, one that takes into account risk, and charges accordingly based on that risk.
Your credit score is an aspect of your credit profile. Important? yes but just an aspect. Contributing/supplemental information determines the finer point of the deal. Ask any question, respect me not to get mad if the answer is not the affirmation you are looking for,
Message 11 of 26
cw81
Frequent Contributor

Re: PenFed Auto Loans


@usmc58555 wrote:

If your dad was a member and your mom is still alive  yes, your mom can sponsor you.

 

If not the reality is you probably do not qualify.

 

Penfed simply is not an option unless you have Bill gates level income and a over 750 score. ( I am asure there are exceptions but if you aposting in these forums yuo probably do not have either.)

 

 
Au contraire  I disagree with those blanket statements I think that is some hyperbole on your part  You can join by  going through the NMFA  if you  volunteer for the red cross or work for the red cross that is an option to join. That said they are conservative but there are always exceptions to the rule.
Message 12 of 26
usmc58555
Valued Contributor

Re: PenFed Auto Loans


@cw81 wrote:

Au contraire  I disagree with those blanket statements I think that is some hyperbole on your part  You can join by  going through the NMFA  if you  volunteer for the red cross or work for the red cross that is an option to join. That said they are conservative but there are always exceptions to the rule.

If I was unclear I am sorry, but I stand by what I posted. 

 

I was talking to qualify for membership to NFCU.

 

Penfed is easy to become a member, the OP knows this from past posts.

 

They are however (PENFED) extremely conservative. Based on the OP's past posts they (the OP) will not qualify for any loan products through PENFED- heck their savings account will probably be a limited one as well.

Message Edited by usmc58555 on 06-28-2009 03:25 PM
Signature line begins:
Credit is not a right, but a business transaction, one that takes into account risk, and charges accordingly based on that risk.
Your credit score is an aspect of your credit profile. Important? yes but just an aspect. Contributing/supplemental information determines the finer point of the deal. Ask any question, respect me not to get mad if the answer is not the affirmation you are looking for,
Message 13 of 26
txjohn
Senior Contributor

Re: PenFed Auto Loans


@usmc58555 wrote:

If your dad was a member and your mom is still alive  yes, your mom can sponsor you.

 

If not the reality is you probably do not qualify.

 

Penfed simply is not an option unless you have Bill gates level income and a over 750 score. ( I am asure there are exceptions but if you aposting in these forums yuo probably do not have either.)

 


We have already recommended Alliant to you. Yes you have to pay for PTA membership. Sorry sometimes you have to pay to play.

 

There is no sure thing by the way. I have no idea what your scores are so NFCU or ALLIANT may still decline to do business with you.


 

If Dad was a member and you know either his SSN or Member number you can get in.  It would not require your Mom.  If you have the SSN, on the application it allows you to "lookup" member number by typing in the SSN and Last Name.  If in the system, it will give you the Member Number.

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09/03/2009 TU: 777, EQ: 776 ($8 balance on an account dropped me out of 780's)
03/28/2009 TU: 814, EQ: 810, EX: 781 (02/12/2009)
05/18/2005 TU: 563, EQ: 580, EX: 549
Message 14 of 26
bobtail
Regular Contributor

Re: PenFed Auto Loans

To:  usmc58555

 

Just trying to improve my credit to the max, before I apply for loan. Yes, I have been learning a lot the past two months. Listening to all advice that has been given.  The only reason I asked about PenFed was, after I pulled my credit report from Equifax, there was a question asking if I wanted list of creditors that I would quality for with the best rates.  Penfed was first on the list. I was surprised because everything I read about them was not forgiving. Also, I have not heard anything regarding their Auto Loan Saver financing.

 

I am sorry if my postings were offending you or wasting your time. With all the complaints I read about preowned volvo's, I decided not to purchase. Hence, I did not apply to Ford.

 

EQ 674  TU 688  No outstanding debt  Two 6yr.old collections.  Two 6+yr. Judgments paid

 

I will not post anymore questions in the future.

Message Edited by bobtail on 06-29-2009 03:56 PM
Message Edited by bobtail on 06-29-2009 03:56 PM
Message 15 of 26
usmc58555
Valued Contributor

Re: PenFed Auto Loans


@bobtail wrote:

To:  usmc58555

 

 

 

I am sorry if my postings were offending you or wasting your time. With all the complaints I read about preowned volvo's, I decided not to purchase. Hence, I did not apply to Ford.

 

EQ 674  TU 688  No outstanding debt  Two 6yr.old collections.  Two 6+yr. Judgments paid

 

I will not post anymore questions in the future.


<<<SIGH>>>>

 

Bobtal no offense was meant on my end.

Please feel free to ask more questions.

 

But please understand the point I was trying to make....

 

First we don't get paid here, this is volunteer. There is no one in these forums I am a credit snob over. There is no poster asking for help that I do not want to help thats why I am here spending my time.

 

By the same token I at least do look at a posters other questions if it helps me give them a better answer.(Sometimes there is information in them that is omitted from their current posts.) And I noticed you had a asked a lot of similar questions over the the last two months, you got some really great advice and never really remarked on it or followed up on it, just asked more of kinda the same questions.

 

There's nothing wrong with that, we are all here to learn. The shear volume if interaction you have done makes me at least want to be aware if we are helping you or not, makes me want to know how it all works out- did we point you in the correct direction or completely not help you at all.

 

But again, for us taking the time to attempt to help you, and I am speaking for myself, not the FICO forums, I just think you, and anyone else who is truly seeking knowledge can do your part and chime in on the advice we give you: did it work, did it not work, is it a bad idea in your eyes or good, or why.

 

That way we can try to help you more.

 

Discussion by definition involves two different points of view and intercourse.

 

Importantly: Sometimes a person might ask a question and if they told us what they were trying to accomplish as they asked we might have a better idea how to help them, which direction to guide them in. Not knowing what a person's goals are can have us spinning their and our wheels but going no where constructive.

 

 

 I simply asked you what you were trying to accomplish with the PENFED question.


You got some great advice on different banks to try, three weeks later you had more of the same questions, I simply wanted to know if you had been struck down or given horrendous rates.

 

WE BOTH ARE LEARNING HERE.


Your personal experience that you bring to the table helps us help others.

 

I want you to get a car. I want you to improve your credit to the max that you can. I also want you to understand that you may have to pay for your past indiscretions and you may not be getting the best possible rates out there. Right now.


Thats pretty much it. I do wish you good luck, and do not want myself to have upset you enough not to continue coming here and seeking knowledge. I do hope you can see the point I was trying to make though.

Signature line begins:
Credit is not a right, but a business transaction, one that takes into account risk, and charges accordingly based on that risk.
Your credit score is an aspect of your credit profile. Important? yes but just an aspect. Contributing/supplemental information determines the finer point of the deal. Ask any question, respect me not to get mad if the answer is not the affirmation you are looking for,
Message 16 of 26
marty56
Super Contributor

Re: PenFed Auto Loans

Since multiple autoloan INQs count as 1, I would apply everywhere I could.  Also you may not have to join the CU unless the loan is apporved so keep that in mind.
1/25/2021: FICO 850 EQ 848 TU 847 EX
Message 17 of 26
usmc58555
Valued Contributor

Re: PenFed Auto Loans


@marty56 wrote:
Since multiple autoloan INQs count as 1, I would apply everywhere I could.  Also you may not have to join the CU unless the loan is apporved so keep that in mind.

 

Multiple inquiries count as one only over a finite period of time.

 

NFCU requires membership before they would consider your application.

 

And if txjohn is correct,and I have no doubt he is, I am surprised and hope that does work for you. i am surprised in this privacy era they would give out confirmation on even deceased SSNs.

 

 

Signature line begins:
Credit is not a right, but a business transaction, one that takes into account risk, and charges accordingly based on that risk.
Your credit score is an aspect of your credit profile. Important? yes but just an aspect. Contributing/supplemental information determines the finer point of the deal. Ask any question, respect me not to get mad if the answer is not the affirmation you are looking for,
Message 18 of 26
LilMirth
Moderator Emerita

Re: PenFed Auto Loans

Bobtail,

 

Please know that you are VERY welcome to post any time, with any question that you have. There are lots and lots of contributors; mods, regulars, newbies, and even the once-by lurker, ready, willing and able to give you their two cents in these forums. If there is one thing that you're guaranteed is a variety of perspectives. Take what you need, and leave what you don't. Smiley Happy

 

And, just to clear up any confustion--

 

The intent and 'tone' of the written word, the media of messageboards, can be difficult if not impossible (sometimes), to weigh. We should choose our words carefully & responsibly, and still we might be misunderstood, or misjudged. It happens... it's unavoidable, unfortunately. Just know that when the advice is not what you're looking for, or if the delivery rubs you the wrong way, that it's okay to skirt by it and continue seeking out answers from others.

 

I hope this helps, and I hope that you continue to contribute to the forums.

 


@bobtail wrote:

To:  usmc58555

 

Just trying to improve my credit to the max, before I apply for loan. Yes, I have been learning a lot the past two months. Listening to all advice that has been given.  The only reason I asked about PenFed was, after I pulled my credit report from Equifax, there was a question asking if I wanted list of creditors that I would quality for with the best rates.  Penfed was first on the list. I was surprised because everything I read about them was not forgiving. Also, I have not heard anything regarding their Auto Loan Saver financing.

 

I am sorry if my postings were offending you or wasting your time. With all the complaints I read about preowned volvo's, I decided not to purchase. Hence, I did not apply to Ford.

 

EQ 674  TU 688  No outstanding debt  Two 6yr.old collections.  Two 6+yr. Judgments paid

 

I will not post anymore questions in the future.

Message Edited by bobtail on 06-29-2009 03:56 PM
Message Edited by bobtail on 06-29-2009 03:56 PM

 

Message Edited by LilMirth on 06-30-2009 01:18 PM

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Message 19 of 26
bobtail
Regular Contributor

Re: PenFed Auto Loans

Thank You Everyone.

 

Hoping my cr will update. One of two paid judgments I have is scheduled to fall off 7/1. The other 11/1.  Will I see a score increase?

 

I appreciate everyone's time and advice.  I will keep you updated with any success I have.

 

 

Message 20 of 26
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