Considering PenFed credit card app

[Sbrav77]

I am looking for advice.  I was approved in February for a $10,000 personal loan at 9.9% interest with Penfed. My credit score at the time was 674. It's now showing 704 on the PenFed app. I have about an 8% utilization rate on my credit cards with a bankruptcy that was discharged in 2011. I don't believe I have any collections in the bureau they pull. My highest credit limit currently is $12,000  on my Discover.  Do you think I would get approved for a PenFed credit card or should I wait til I have more payments made on the loan with them? I don't want to waste a hard pull.

[babygirl1256]

Congrats on your personal loan with PenFed . . . just double check your EQ score because that's the CRA that PenFed uses. Best wishes!

[coldfusion]

I would wait at least until July, preferably until October 1, to see if you get a SP offer as part of their quarterly cycle.

If you didn't get an offer on October 1 go ahead and apply.

[Horseshoez]

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@Sbrav77 wrote:

I am looking for advice.  I was approved in February for a $10,000 personal loan at 9.9% interest with Penfed. My credit score at the time was 674. It's now showing 704 on the PenFed app. I have about an 8% utilization rate on my credit cards with a bankruptcy that was discharged in 2011. I don't believe I have any collections in the bureau they pull. My highest credit limit currently is $12,000  on my Discover.  Do you think I would get approved for a PenFed credit card or should I wait til I have more payments made on the loan with them? I don't want to waste a hard pull.

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You are probably in better shape now than when I applied in March for a PenFed card; they approved me instantly.