Thinking about applying for for Penfed Gold or Platinum

[Howaboutthat]

Hello all, I did app for the platinum back in December and was deniedd due to a lack of an installment loan so I got an installment loan & Financed a car through Penfed and got a good rate. My utilization was high too. My Fico Eq. stands at 650. I have a total of 4 hard pulls 3 (Eq) and 1(TU) and 0 (Ex) I probably should have applied during the first 90 days but didn't. My Utilization stands at 70%

What do you all think. 

[Anonymous]

PenFed normally wants a 680+ FICO 9 for credit card approvals and that was before the uncertainty with coronavirus. I wouldn't say your chances are great. 

[AllZero]

One would think you would have better odds if you dress up your utilization. Optimized would be aggregate 9% or under and individual 29% or under for reported utilization.

[M_Smart007]

Penfed does not like to see debt.

[mrcraft]

I agree with others.  I think your utilization might be too high.

[Howaboutthat]

Ok I can wait, I was just thinking they just financed my car and I should strike while the fire is hot. 

[coldfusion]

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@Howaboutthat wrote:

Ok I can wait, I was just thinking they just financed my car and I should strike while the fire is hot. 

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Your utilization is on the high end, which likely contributes to your FICO score being on the low end.    Your odds won't be good unless/until you pay down some of that debt.