Should I apply for Penfed or wait 6 months?

Green456 · ‎10-18-2018

I want to join Penfed before their door closes down like NFCU did earlier this year. But I am afraid that they will deny me for recent HPs. Do you guys think I should wait 6 months or okay to apply?

Credit Score: 799

Credit Utilization: 1%

Hard Pulls:

Fort Knox HP October 13th 2018

Wells Fargo Student Loan refinancing October 9th 2018

I have 3 more HPs in 2017 but they are almost 1 year old.

Jnbmom · ‎10-18-2018

Your profile looks like you have a pretty good shot with Penfed, not sure what accounts you have though.

As far as Navy closing their doors?? Thats news to me they have been very wide open with people as of lately Or did you have a situation with Navy?

EXP 780 EQ 791TU 795

Anonymous · ‎10-18-2018

@Jnbmom wrote:
Your profile looks like you have a pretty good shot with Penfed, not sure what accounts you have though.

As far as Navy closing their doors?? Thats news to me they have been very wide open with people as of lately Or did you have a situation with Navy?

I think he was referring to the membership loophole that they shut down? I couldn't think of anything else.

Anonymous · ‎10-18-2018

@Jnbmom wrote:
Your profile looks like you have a pretty good shot with Penfed, not sure what accounts you have though.

As far as Navy closing their doors?? Thats news to me they have been very wide open with people as of lately Or did you have a situation with Navy?

PenFed is open to public through $5 or $10 (don't remember) to an organization, Navy used to have a similar backdoor entry through an organization in San Jose but closed it a year and a half ago, reason why I have offered to rent my guest room out to NAVY Fed members so I can get in lol.

OP, your profile seems fine at the very least for the membership if you want to get foot in door without CC apps although I think you should be fine there as well, but if 3 HPs are hitting 1 year soon, it will put you well into 800s so I would wait until then if you can.

Green456 · ‎10-18-2018

Yeah I am not military. So I wanted to jump on board of their membership sooner rather than later. None of their credit cards offer much but their CD rates seem to be decent and they are one of the bigger credit unions in the country.

CramEiko · ‎10-18-2018

With PenFed you can do volunteer work. For example, dotating blood to RedCross.

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Anonymous · ‎10-19-2018

@Green456 wrote:
I want to join Penfed before their door closes down like NFCU did earlier this year. But I am afraid that they will deny me for recent HPs. Do you guys think I should wait 6 months or okay to apply?

Credit Score: 799
Credit Utilization: 1%
Hard Pulls:
Fort Knox HP October 13th 2018
Wells Fargo Student Loan refinancing October 9th 2018
I have 3 more HPs in 2017 but they are almost 1 year old.

You have nothing to worry my friend. You can sign up today! My stats were somewhat similar to yours when I had signed up at PenFed.

Keep in mind, you will incur another HP when you sign up.

Green456 · ‎10-19-2018

Okay so I applied. Suprisingly Penfed instantly made me a member. No issues.

AverageJoesCredit · ‎10-19-2018

You aren't an Egyptian, so easy peasy