PenFed Pathfinder Rewards Amex Approval

[Anonymous]

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@Anonymous wrote:

Yea i've decided not to piss anyone off lol. I am laying low and being thankful.

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Congratulations, that would be best!

[Anonymous]

Good decision.  Is the 723 score you posted an EQ FICO 8 score or is it FICO 9?

[Anonymous]

Think it was Fico8

[Anonymous]

Congrats on your PenFed approvals!

I wouldn't push it, either.

Give it 6 months and you should see some good success with them.

[Anonymous]

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@Anonymous wrote:

Feels like this has been a hell of a journey. But thanks for the forum membership for educating me.

Applied for memebership , Auto-Loan and a CC

Approved for all three

Amex 

Score 723

Limit $5k 

AOA 4 years 11 months

Uti - 18%

I did get too greedy and apped for the Promise card which was turned down. Not sure why yet but I might call in a day to ask reconn. 

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How long did it take to get an approval for auto loan?   I applied for auto loan early in the morning and was still pending for loan offider until around dinner time.    During dinner time, I checked Cap1 pre approval  and got instant approval.   Then a call from dealer asking for permission to process my loan application.  With my ok, they called me back in five mins with an approval from Audi financial with better rate.

So... I called Penfed to withdraw my application and was told that I should have called when there was no action????    As per Penfed site, my fico 9 is 788, with top tier income.  When I can get a loan from any lender, it is out of my comprehension why there were so arrogant...  My loss thou...one more hard pull.

[Anonymous]

So did PenFed do a hardpull? Bc they gave me the lowest rate they had. Cap1 would give me a redonk rate of like 7.5%. My down was very small i get that but still theres no way i would pay 7%. If possible i would mend ties with PenFed and try to do the loan if the rate is great with them vs Cap1. Not a dig against Cap1 but the rates and selections of cars was not good in my exp. When i called dealers from their sites the prices were different and often times the cars weren't availabel anymore. This is just my exp YMMV

[Anonymous]

Forgot to mention it was like maybe 30 mins, but I called to check in on whats up.

[Anonymous]

YES.. Penfed did hard pull and no action.  The rep who answered was firm and would not forgive that hard pull.  Since I got  lower rate from Audi than Penfed,  1.49 vs 2.99 for 60 months, I comfort myself as give / take and regret why I did not go thru them from the start.

[Spotsy]

Congrats on your auto loan options! It feels great to have a selection doesn’t it ?!

One thing to consider with the auto finance world, if you used the CU financing instead of the Audi Special Rate, is there a cash incentive they offer instead? A lot of manufacturers offer a Cash OR Special APR. You way be walking away from a few thousand in rebates. I would run the numbers and compare total interest paid to cash back/off the car price. Also consider how long you will keep the car. If you are a car lover (I admit I go to Cars Anonymous to fight my addiction :-$ ) and I usually only keep them a few years, a rebate and a little uptick in interest might be a better option financially.

[Anonymous]

Sportsy - Thanks..and no manufacturer incentives for me.  I think they offer 1k to so called loyal customers.   I picked up the car today, and the dealer added about 500 additional on top of negotiated price, 100 here 200 there...  which I did not bother to dig out since it was 0 down financing and I negotiated almost 11% off from MSRP for newly introduced model.