Penfed Power Cash & Elan Max Cash Preferred Application Order

[BenTramer1978]

So....im looking to apply for both of the above cards in early September. I know Penfed checks Equifiax and according to the chart on here Elan does too. So now the quetion becomes how to apply for them both and give me the best odds of getting both. Shall I go for penfed or elan first?

DPS. My Fico 8 as of right now is only 735. My mortgage doesn't report to equifax which is unfotunate because my Transunion and Experian are both at 800. I believe both check Fico 9 and I don't know where to find that without paying.

AAOAA: 2 years in September.

Inquiries: 0/12 4/24

Accounts: 0/12 7/24

[cashorcharge]

I tend to think Elan (USBank) would be more averse to HP's than PenFed so I would chose to apply for that card first.  
Have you tried reaching out to your mortgage company to see if they'll post to EQ?  Is your mortgage relatively new and hasn't updated to EQ yet?

[BenTramer1978]

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@cashorcharge wrote:

I tend to think Elan (USBank) would be more averse to HP's than PenFed so I would chose to apply for that card first.  
Have you tried reaching out to your mortgage company to see if they'll post to EQ?  Is your mortgage relatively new and hasn't updated to EQ yet?

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Yeah they won't do it. 13 years of positive payment history that won't report to Equfax.

[SUPERSQUID]

I agree with @cashorcharge , when i was approved for the penfed pcr in december i had a ton of inq's, i think like 20. U.S. bank is known to be much tighter with their uw.

[BenTramer1978]

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@SUPERSQUID wrote:

I agree with @cashorcharge , when i was approved for the penfed pcr in december i had a ton of inq's, i think like 20. U.S. bank is known to be much tighter with their uw.

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Yeah that was my feeling too but I just wanted get a feel for things. By the time September rolls around I will have been a Penfed member for 1 year and will have 3000 in their savings account. I imagine that will help.

[AverageJoesCredit]

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@BenTramer1978 wrote:

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@SUPERSQUID wrote:

I agree with @cashorcharge , when i was approved for the penfed pcr in december i had a ton of inq's, i think like 20. U.S. bank is known to be much tighter with their uw.

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Yeah that was my feeling too but I just wanted get a feel for things. By the time September rolls around I will have been a Penfed member for 1 year and will have 3000 in their savings account. I imagine that will help.

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The amount one has in their savings will not  sway Penfed in their credit lending  decisions. They will factor in many factors with your overall credit profile like income, scores, hps, dti, etc. Good luck though

[SUPERSQUID]

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@BenTramer1978 wrote:

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@SUPERSQUID wrote:

I agree with @cashorcharge , when i was approved for the penfed pcr in december i had a ton of inq's, i think like 20. U.S. bank is known to be much tighter with their uw.

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Yeah that was my feeling too but I just wanted get a feel for things. By the time September rolls around I will have been a Penfed member for 1 year and will have 3000 in their savings account. I imagine that will help.

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I dont think the amount in your savings will matter too much. I had 15 bucks in a savings for 7 months when i applied. my scores were in the 670's, and my credit file was funky including a 2 year old bk7. my income 36000. approved for 7500 at 27 pct, ymmv

[BenTramer1978]

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@AverageJoesCredit wrote:

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@BenTramer1978 wrote:

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@SUPERSQUID wrote:

I agree with @cashorcharge , when i was approved for the penfed pcr in december i had a ton of inq's, i think like 20. U.S. bank is known to be much tighter with their uw.

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Yeah that was my feeling too but I just wanted get a feel for things. By the time September rolls around I will have been a Penfed member for 1 year and will have 3000 in their savings account. I imagine that will help.

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The amount one has in their savings will not  sway Penfed in their credit lending  decisions. They will factor in many factors with your overall credit profile like income, scores, hps, dti, etc. Good luck though

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Well that's.....good I guess. Thanks,

[BenTramer1978]

Well I 

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@SUPERSQUID wrote:

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@BenTramer1978 wrote:

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@SUPERSQUID wrote:

I agree with @cashorcharge , when i was approved for the penfed pcr in december i had a ton of inq's, i think like 20. U.S. bank is known to be much tighter with their uw.

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Yeah that was my feeling too but I just wanted get a feel for things. By the time September rolls around I will have been a Penfed member for 1 year and will have 3000 in their savings account. I imagine that will help.

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I dont think the amount in your savings will matter too much. I had 15 bucks in a savings for 7 months when i applied. my scores were in the 670's, and my credit file was funky including a 2 year old bk7. my income 36000. approved for 7500 at 27 pct, ymmv

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Well I was turned down last August when I initially joined Penfed. I had six inquiries though The first 3 were over a year old but the last  3 were from just a couple weeks ago because I was at the end of an App Spree. That is why I am a little worried. When I apply this time it will be 4 inquires over a year old but then one new one from Elan. Im just hoping one very recent inquiry doesn't sink me like the 3 did before. Because technically I would only be one inquiry less then when I applied last year but only one recent one.

I would go for another 2% card but I really want no foreign transaction fees and none that I know of have that besides this one. I was going to go after the mythical AOD but they killed that card.