@Anonymous wrote:
@Anonymous wrote:
Phoenix- yep, preapproved by PenFed for the auto loan, denied for a couple CCs all due to BK and lack of revolving accounts (which I have now but they're still too new for their liking, I bet).
I had apped for $50K for the auto loan but only approved for $40k, though. The reason for that was lack of collateral (didn't enter a car cause I didn't have an exact one picked out yet, still don't) and being overextended. Not sure how I'm overextended as I'm below 20% DTI including rent. Car loan would only push me up to 25%. Oh well.Thanks for your reply. I am finding that even if you have credit established, PF would like for you to jump through a few more hoops. When I received the second denial, I called to find out what I would do to increase my chances of attaining credit with PF. I was told that I could take out some sort of loan, which sounded like a glorified pay check loan; pay it back on time for a "period of time" and they would consider me then. I opted not to do that. But, again, I am asking for insight on what works. Its hard out here for a recovering BK'r!
@Anonymous wrote:
@Anonymous wrote:
Phoenix- yep, preapproved by PenFed for the auto loan, denied for a couple CCs all due to BK and lack of revolving accounts (which I have now but they're still too new for their liking, I bet).
I had apped for $50K for the auto loan but only approved for $40k, though. The reason for that was lack of collateral (didn't enter a car cause I didn't have an exact one picked out yet, still don't) and being overextended. Not sure how I'm overextended as I'm below 20% DTI including rent. Car loan would only push me up to 25%. Oh well.Thanks for your reply. I am finding that even if you have credit established, PF would like for you to jump through a few more hoops. When I received the second denial, I called to find out what I would do to increase my chances of attaining credit with PF. I was told that I could take out some sort of loan, which sounded like a glorified pay check loan; pay it back on time for a "period of time" and they would consider me then. I opted not to do that. But, again, I am asking for insight on what works. Its hard out here for a recovering BK'r!
I justed cold apped on the Amex site and guess what happened? I need to post a new thread
I personally would never take out another loan from somewhere else just because they asked me to. I'm sure they wsnted to see the ability to repay, but that is too dangerous to just do.
