To join, or not to join.

[Anonymous]

That is the question. My scores are decent, however I do have one delinquency on my report, (shouldn't be there.) and, my age of credit is relatively low. In the last week or two I got approved for a CLI, a second card, and a CLOC with NFCU. Well, I also received a preapproval in the mail for PenFed Power Cash card & today is the last day to accept the offer. I'm NOT currently a member of PenFed, so my question is... one: is this a good opportunity to take? And two: what are the chances of approval once you get a mail offer? I don't want the one delinquent child support account that Navy looks over to affect me differently with PF, and I also don't want them to see the recent inquiries by Navy as reason to deny me either. Hope this all makes sense. Sorry for the timing, but any fast help will be appreciated. Thanks.

[Anonymous]

So I did search for something similar prior to posting, but did not find a good result until after.. lol. I’m thinking it may be best if I hold off. Especially since it’s another two hard pulls, correct? Anyway if a mod wants to delete this thread, you’re more than welcome. Thankyou.

[AllZero]

@Anonymous  How long has that delinquency been on your report? Is it showing up on EQ?

NFCU generally HP TU for the CC. EQ for the CLOC. Do you show any EQ pulls?

PenFed usually HP EQ for new CC application and/or maybe membership. Expect two HP but some reports have stated SP for membership.

Generally, the mailers are solid if your profile has not changed dramatically from the time they did a review on your report for pre-qualification.

[Meanmchine]

Good luck on what you decide

[rostrow416]

Go for it.  I just joined this month - SP membership, cold app HP EQ for CC and approved with a good SL.  

I'd say it's worth jumping on the Penfed train.

Best of luck.

[AverageJoesCredit]

if there is any time to join Penfed, , its now. They even sent me, their arch nemesis,  2 mailers , which was one too many to ignore lol and approved me... even without poi which they easily could have asked for in a Pandemic. Goid luck. If you hold iff, no worries they will probably send another. You are on their radar

[coldfusion]

Having a dirty profile does not disqualify you from membership or CC approvals with PenFed.

This is a good time to apply because they are looking to grow and the fact you got a mailer means that at a mininum you met their screening criteria.    The only catch would be if they saw your recent NFCU inquiry and how they would react but IMO it's still worth the risk.

Even if denied for the card accept the membership and open up a savings account for the mininum amount to plant a seed for later.

[AverageJoesCredit]

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@coldfusion wrote:

Having a dirty profile does not disqualify you from membership or CC approvals with PenFed.

This is a good time to apply because they are looking to grow and the fact you got a mailer means that at a mininum you met their screening criteria.    The only catch would be if they saw your recent NFCU inquiry and how they would react but IMO it's still worth the risk.

Even if denied for the card accept the membership and open up a savings account for the mininum amount to plant a seed for later.

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@coldfusion  i actually had a fresh hp , trying to help Dad , right before i apped Penfed so they definetly saw it. No clue why they approved but happy to accept

[coldfusion]

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@AverageJoesCredit wrote:

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@coldfusion wrote:

Having a dirty profile does not disqualify you from membership or CC approvals with PenFed.

This is a good time to apply because they are looking to grow and the fact you got a mailer means that at a mininum you met their screening criteria.    The only catch would be if they saw your recent NFCU inquiry and how they would react but IMO it's still worth the risk.

Even if denied for the card accept the membership and open up a savings account for the mininum amount to plant a seed for later.

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@coldfusion  i actually had a fresh hp , trying to help Dad , right before i apped Penfed so they definetly saw it. No clue why they approved but happy to accept

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There's a part of me that thinks it doesn't really matter why.  What does matter is that you got approved, they finally saw the light.  😎