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PenFed Credit

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Madrid2020
Established Member

PenFed Credit

Hi everyone,

I just got a ch 7 bankruptcy discharged last month. Is penfed bk friendly? Or does anyone know a good credit u ion that’s good? I’m teying to get a car loan next year. But wanted to open a checking for now.
Message 1 of 11
10 REPLIES 10
AverageJoesCredit
Legendary Contributor

Re: PenFed Credit

You can check out the big Penfed thread in Applications for lots of data points. It is possible to join PF with bk7 reporting but you may get bucketed for awhile in regards to credit products like a cc. Ymmv of course.
Message 2 of 11
Anonymous
Not applicable

Re: PenFed Credit

yes they are, at least for auto loans. they approved me a year after my bk with a 5.7% rate on new car
Message 3 of 11
Anonymous
Not applicable

Re: PenFed Credit

I am now contemplating joining PenFed soon thanks to all info I've been reading.
Message 4 of 11
Anonymous
Not applicable

Re: PenFed Credit

I believe PenFed is going to require you have at least 6-12 months of positive account history. I was at the 2 year mark when I was approved with them, but that was only because I went with NFCU first.

Message 5 of 11
Anonymous
Not applicable

Re: PenFed Credit

yes they are im 3 months post discharge and they approved me for an auto loan 43k zero down my auto score was 676 eq

Message 6 of 11
Anonymous
Not applicable

Re: PenFed Credit

Momo75052
What's the interest rate?
Message 7 of 11
Anonymous
Not applicable

Re: PenFed Credit

6% not the best but I’ll refinance in June just glad they approved me so soon
Message 8 of 11
Anonymous
Not applicable

Re: PenFed Credit

I had a PenFed before my BK and I paid off card and it did not close through my BK one one to survive not sure if helpful info.

Message 9 of 11
Anonymous
Not applicable

Re: Pen Fed Credit

I had a PenFed before my BK and I paid off card and it did not close through my BK one one to survive not sure if helpful info.

Message 10 of 11
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