PenFed data question

[mamabear]

I've read a ton about PenFed including the data thread(great BTW) but I'm still feeling apprehensive. I just paid my cc utilization from 95% down to 5% on one card and zero balance on other. If I get the score bump I'm expecting, my FICO 9 should be about 675. I want to apply for membership and a home equity loan. My home is paid for completely. Here is my other data:
Derogs: one old collection
Lates: two about 4 months ago
Age of credit: 1 yr 2 months.
Most recent account: 1 yr ago
Inquiries: 4 most recent July (1)

Should I go for it? I can't afford a hit for nothing but nothing ventured, nothing gained....maybe...

[mamabear]

Anyone??

[Adkins]

I don't think membership is a problem but I'd wait to try for the loan until your lates are at least six months old. Depending on how they do the membership, they might be able to tell you what you're pre-qualified for when you join. 

[mamabear]

Thank you!