@Tuck831 wrote:I am a USAA member through my father who is now retired from the Army. I was actually looking to open an account with PenFed, thinking that it would be beneficial later to apply for a card or loan from them. Should I look into Navy Federal instead? Any advantages/disadvantages to either?
I would say become a member of both. However, I would recommend you join PenFed on a clean profile for better odds at CC approvals.
Good luck. I'll give you an early congratulations on your membership!
If possible, I'd recommend cleaning up your credit report before applying to improve odds of approval and starting limit.
To answer your question, once approved membership, you can apply anytime. Keep expectations in line with current credit profile.
@Anonymous wrote:
But it does your improve your internal score if you’re a member for a little while, which may be advisable on a thin file. You may want to wait three months. Plus that gives you time to clean up your file little bit like @AllZero said.
Great recommendation from @Anonymous Length of membership is very important with Navy and credit unions in general.