Thinking of PenFed

MyLoFICO · ‎02-17-2017

I am thinking of joining PenFed to get my auto, mortgage, student loans, and credit card debt refinanced or transferred to save money. My EQ FICO 8 is 663 and 20 inqs. No lates or baddies in 4 years. I have a CO that is due to fall off in April and quite a few inquiries will become a year or more old which should drive my score up a bit. Should I wait until that happens or can I go ahead and join now? I know the initial pull from PenFed is good for 90 days but what I am not clear on is do they do a SP to refresh it if you apply for anything during that 90 days or do they use the pull from day 1 to make their decisions for 90 days? If they use the same one I will just wait until May which should give my score ample time to come up.

Experian: 677 (28) | TransUnion: 697 (27) | Equifax: 684 (6)
Gardening as of: 1-23-2018
Updated 1-25-18

Anonymous · ‎02-17-2017

I just got denied for one chargeoff from 2013, 7 InQ at a year old and over 20 total. Good luck.

MyLoFICO · ‎02-17-2017

@Anonymous wrote:
I just got denied for one chargeoff from 2013, 7 InQ at a year old and over 20 total. Good luck.

Denied for membership or a credit product like CC? What is your FICO 8 for Equifax?

Experian: 677 (28) | TransUnion: 697 (27) | Equifax: 684 (6)
Gardening as of: 1-23-2018
Updated 1-25-18

Anonymous · ‎02-17-2017

I've been a member over a year but did not apply for anything. Just recently I got my credit pulled to get a checking account. Got that of course. They havent sent my score but the email said 685 out of possible 950 which is nextgen i guess.

MyLoFICO · ‎02-17-2017

Yeah, I think I will wait. I don't want to risk a denial.

Experian: 677 (28) | TransUnion: 697 (27) | Equifax: 684 (6)
Gardening as of: 1-23-2018
Updated 1-25-18

fltireguy · ‎02-17-2017

@Fordguy. I was instant approved @$11.5k with a paid charge off and a 8.5 year old dismissed bk showing on EQ, with 50 inq... then I reconned it to $15k

NFCU $60.4k/PenFed $22.5k/Commerce $15K/53 $11K/Synovus $14K/BBT $11K/CapOne $12K/DCU $7.5K/BMO $7.5K/Chase $14.5k/Cabelas $10K/ and many many more!
Total CL $398600, plus car and RV loan.
Ooh. Ooh. Getting closer to that $500K mark!

fltireguy · ‎02-17-2017

Oh and joined 7 months prior

NFCU $60.4k/PenFed $22.5k/Commerce $15K/53 $11K/Synovus $14K/BBT $11K/CapOne $12K/DCU $7.5K/BMO $7.5K/Chase $14.5k/Cabelas $10K/ and many many more!
Total CL $398600, plus car and RV loan.
Ooh. Ooh. Getting closer to that $500K mark!

SouthJamaica · ‎02-17-2017

@MyLoFICO wrote:
Yeah, I think I will wait. I don't want to risk a denial.

Agreed

Unify FCU Platinum Visa Variable Rate 35k

TD Bank Business Solutions Visa (Bus) 23700

FNBO Evergreen Business Edition Visa (Bus) 20k

Liberty (formerly Evansville Teachers) FCU Platinum Prime Plus MC 15k

US Bank Triple Cash Rewards Visa (Bus) 12k

Geo-fenced credit union Platinum Visa 10500

Members 1st FCU Low Rate Platinum Visa 5k

PLOC: Langley FCU 40k; Penfed CU 15k; NFCU 15k; Teachers FCU 15k; Affinity FCU 10k. BLOC: NFCU 5k

Total revolving limits 568220 (504020 reporting) FICO 8: EQ 689 TU 691 EX 682

Anonymous · ‎02-17-2017

I guess I should try calling them? Is there something specific you ask for when you call?

Anonymous · ‎02-17-2017

I got approved this week for savings, checking, and a $500 CLOC with an avg 598 Fico, a charge off, and several other baddies in still working on. OP I think they'll be willing to help you with at least some of the products you're looking for since your profile is much better than mine.