PenFed Approval Odds?

[jazzyvar84]

Before anyone beats me up, I have decided to wait one year after my last application to apply for a mortgage, but anyway........My Equifax score at the moment is 750 precisely. My utilization across the board is 6% and there are NO baddies (I worked hard on that 😓)! However, I have received a BB&T, Lowe’s, and Rooms 2 Go account this month. Would Penfed be willing to overlook and approve me??? Any help would be greatly appreciated!

[Anonymous]

I wouldn't think PenFed would be a good fit for you right now since Synchrony undoubtedly reported your new accounts already. 

[FinStar]

Did your EQ FICO score change/update from 668 as reported on your separate thread (i.e. collection removal)?

Keep in mind that if your SYNCB accounts that were recently approved are already on your CRs, then it might not bode well. Your NFCU account may take a bit to report, but BB&T is likely trailing at any moment, if not already on CRs.

[jazzyvar84]

Yes I finally had that pesky collections item removed. Experian is now 743, Transunion is 750, and for some reason Equifax score hasn’t updated yet even though the collections item was removed from it before Experian did it.

[Anonymous]

Equifax is who PenFed is going to pull so at minimum, wait til that score goes up. 

[Jnbmom]

Penfed pulls EQ.

Even though I think that have “loosened “ up a bit as of lately , they are still some what conservative and the number of new accounts/inquiries may spook them .

[jazzyvar84]

The Equifax has gone up to 680 on credit Karma, so it has been my experience that the fico will be about 70-100 points higher than that, but you’re right, I’ll wait.

[Anonymous]

PenFed, like NFCU, is relationship oriented, when you get your foot in the door with them it is easy to advance fast