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Successes and 1 question

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Senior Contributor

Successes and 1 question

After a dip down to 780, I'm back up to 810 and decided to pull the trigger on 2 banks I've always wanted as a part of my portfolio (or so I thought).

 

1st - After reading so many stories on here (back when I first joined) about peoples love for NFCU (Navy Fed) and talking with people at work who are members and how much of a positive experience (especially when it comes to CL's) they've had, I wanted to get in on that action too, but I couldn't. I was no longer an active member of the Military and didn't meet their qualifications. Well, they must have changed something because I was able to get a full membership (I've been a member of USAA since 1996) and app their Signature Visa with a 25k CL. Awesome!

 

THENNNN the 2nd - For some reason, I thought PenFed was the other coveted bank around these parts (But I don't believe I have that right. I think it's actually a CU out of Pen(nsylvania)? That sound more like it?

 

Well, I did a two browser app, but had to unlock my Equifax report first, and I did. I actually hit submit on PenFed and then NFCU and then once both processed (or so I thought), I went back and locked my EQ report again and went about my day. Well, today PenFed called back and asked if my report was locked because they were unable to pull it. I checked and sure enough, they didn't.

 

So here's my question...should I unlock the report and take another HP for PenFed, or not...because ultimately it's not the product I lead myself to believe was the one I had been aspiring to app.?

 

 

5/2012: 560 credit scores across the board
12/2014: 750+
3/2017: 780+
11/2019: 833
16 REPLIES 16
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Established Contributor

Re: Successes and 1 question

I have no idea. But there was someone on here the other day that received a $50k SL with I believe 715’ish FICO’s. Some do hype up PenFed around here. Of course everyone’s profile is different. So take what I say with a grain of sale. 😊
Started 6/6/2018 EX - 588 ; EQ - 667 ; TU 575

Updated 12/2018


Message 2 of 17
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Senior Contributor

Re: Successes and 1 question

PenFed is the Pentagon Federal Credit Union and it is headquartered in northern Virginia.  Like NFCU, it serves mostly current & former members of the military, but it is also open to the public with a small donation to either of two military charities.  They tend to manually pull Equifax FICO 9 so its possible that they did not pull your credit before you locked it.  If you don't have an alert that it was pulled, I would unlock it again.

 

That said, PenFed is much more conservative than Navy Federal; since January 2017 they have been limiting new approvals to a maximum starting limit of $10,000 regardless of your credit profile or FICO scores.  But its also possible to grow those limits quickly if you're willing to have your Equifax FICO 9 score pulled, or plan on waiting for their quarterly (no pull) offers.





Message 3 of 17
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Senior Contributor

Re: Successes and 1 question

So I think I figured it out.

 

I confused PenFed (who I app'd) with PSECU (who I clearly didn't remember).

 

PSECU still taking care of you guys around here?

5/2012: 560 credit scores across the board
12/2014: 750+
3/2017: 780+
11/2019: 833
Message 4 of 17
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Valued Contributor

Re: Successes and 1 question

Congrats on the NFCU! Whether it is Penfed or anyone else, I wouldn't waste a HP with them if you don't even think you want them. Save it for a lender you want. I live in PA and have not looked much into PSECU (not sure why).
                               

Total Credit: $240,100Credit Utilization: 1%AAoA: 5 years, 7 monthsInstallments: Car Lease, Marcus LoanNegatives: 0

LOWES-35k | BOA-32.5k | AMEX-30k | DISC-27.1k | ALLIANT-25k | NFCU-25k | BARC-15k | BBUY-12k | CHASE-10k | WAL-10k | CITI-9.7k | PENFED-9.7k


Message 5 of 17
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Valued Contributor

Re: Successes and 1 question

In PA myself and use ARMCO CU, but the credit card is nothing to write home about nor of the high limits we see at other larger banks.  They do however have untouchable auto loan rates since I've been here.


Message 6 of 17
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Senior Contributor

Re: Successes and 1 question

Congrats on your approval and monster SL !!!

 

 

8-2019 / Fico 8 EX 8013 , EQ 8016 , TR 810
Amex ED 22k , CSP 17k , Discover iT 12.5k , Fifth Third Bank S2C 12k , BofA Cash Rewards 10k , Avianca Vida 10k , State Farm Good Neighbor Visa 10k , Citi DD 6k , Union Bank Rewards 5k
Message 7 of 17
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Community Leader
Mega Contributor

Re: Successes and 1 question

Big congrats on your Navy. Thanks for your serviceSmiley Happy
Message 8 of 17
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Senior Contributor

Re: Successes and 1 question

Love that GIF! (Love that movie)

5/2012: 560 credit scores across the board
12/2014: 750+
3/2017: 780+
11/2019: 833
Message 9 of 17
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Senior Contributor

Re: Successes and 1 question

Thanks, everyone for the kudos.


I went ahead and let the PenFed app go. No, pull, so no loss.

 

Will save it for something else.

 

Hard to believe I started here w/ a $238 secure limit from HSBC all those years back, haha!

 

 

5/2012: 560 credit scores across the board
12/2014: 750+
3/2017: 780+
11/2019: 833
Message 10 of 17
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