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HELP! Need Advice- Pen Fed- Should I apply for a credit card? Personal loan? HELP!!!

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Member

HELP! Need Advice- Pen Fed- Should I apply for a credit card? Personal loan? HELP!!!

Hello everyone,

 

I have recently been discharged from a ch.7 on 6/27/19

 

Since then... I have an Auto Loan with GM Financial- Current rate is a 9% financed $20K

 

Self Lender- $500 

 

First Premier was the first credit card that approved me- $300 limit, Opened 9/2019 the current balance is  $49 (16%) 

 

I applied for a second card with Show Credit card- Opened 10/2019- $350 limit, Opened 10/2019 the current balance is $63 (18%)

 

17% utilization- $112 balance 

 

Yesterday I applied for Pentagon Federal Credit Union - Currently banking with BBVA- figured I need to start building a relationship with a credit union. 

 

They did a hard pull on my credit for the approval. The current score with EQ Fico Score is 666.  FICO Bankcard Score 8 is 643. 

 

I was wondering since they have already pulled my credit and it stays on file for 30 days... Should I go ahead and apply for another product? 

Maybe another credit card? A personal loan would be nice to have... Thoughts? advice? 

 

People I've burned:

Navy Fed

Military Star 

Capital One

Credit One 

Conns 

Pay day loan(S)-Plural 

 

Current Scores:  EQ666

Trans Union:631 

Experian: 627

 

 

4 REPLIES 4
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Super Contributor

Re: HELP! Need Advice- Pen Fed- Should I apply for a credit card? Personal loan? HELP!!!

You already have an installment TL, no need to add another.
Filed BK7: 7/2012 (start score EQ 560 / TU 529) Discharge 10/2012
755 EQ FICO 12/2019
750 TU FICO 12/2019
743 EX FICO 12/2019
$25k NFCU Platinum | $30k NFCU cashRewards Sig | $15k NavChek | $7.1k Cap1 Quicksilver | $10k Amazon Store | $19k Cap1 VentureOne | $16k Barclay Aviator | $5k Chase Freedom | $5k Chase Sapphire Preferred | $9k Costco Visa | $20k AMEX BCE | AMEX Gold
Message 2 of 5
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Super Contributor

Re: HELP! Need Advice- Pen Fed- Should I apply for a credit card? Personal loan? HELP!!!

Recent data points show PenFed is not recycling hard pulls. Expect additional EQ hard pull for any products.

I'm not sure what their policy is for BK wait time before they will consider.
Message 3 of 5
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Super Contributor

Re: HELP! Need Advice- Pen Fed- Should I apply for a credit card? Personal loan? HELP!!!

I'd hold of. PENFED isnt an easy one to get approved with as much as NFCU will do more for you. If you qualify. Thank you lucky stars you got in and let your file age some more. Theres no rush especially in your first year out of BK. Slow and steady for now.

Message 4 of 5
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Super Contributor

Re: HELP! Need Advice- Pen Fed- Should I apply for a credit card? Personal loan? HELP!!!

Just noticed you didnt burn Disco. Try their secured card that graduates with a CLI.

https://www.discover.com/credit-cards/secured/ 

Message 5 of 5
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