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Please help....penfed or no?

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mamabear
New Contributor

Please help....penfed or no?

I want to apply for PENFED. My Equifax FICO 9 is 698. I have one paid collection and 3 inquiries in last 2 years. Everything else is clean. Should I apply? I can't waste a HP.
Message 1 of 15
14 REPLIES 14
Anonymous
Not applicable

Re: Please help....penfed or no?


@mamabear wrote:
I want to apply for PENFED. My Equifax FICO 9 is 698. I have one paid collection and 3 inquiries in last 2 years. Everything else is clean. Should I apply? I can't waste a HP.

Yes yes and more yes.   So Penfed does do an HP for membership but everything you apply for is off the one pull.  And that one pull is good for 90 days as well.

 

With your scores, you could end up with a few products, up to you on what you want. 

Message 2 of 15
seattlecredit08
Frequent Contributor

Re: Please help....penfed or no?

With respect to Penfed products, what about Equifax FICO which is 10-12 points lower, i.e. FICO of 685, zero inquiries but with an upaid chargeoff reporting?

 

And will Penfed also pull EX and TU when applying for initial products?

Message 3 of 15
Anonymous
Not applicable

Re: Please help....penfed or no?


@seattlecredit08 wrote:

With respect to Penfed products, what about Equifax FICO which is 10-12 points lower, i.e. FICO of 685, zero inquiries but with an upaid chargeoff reporting?

 

And will Penfed also pull EX and TU when applying for initial products?


Everyone's profile is different, so you could still.  Not sure about the unpaid charge off tho, I have one but its paid. Also if you can check out NFCU, they are a great CU as well.

 

IME, its only been one EQ pull, no others

Message 4 of 15
mamabear
New Contributor

Re: Please help....penfed or no?

Thank you very much! I'll update.
Message 5 of 15
mamabear
New Contributor

Re: Please help....penfed or no?

I went for it. I got the message saying "additional verification needed" with a phone number. Any idea what that means?
Message 6 of 15
Anonymous
Not applicable

Re: Please help....penfed or no?

Its usually just to verify your identity If you've never had an account with them its just a safety practice.  

Message 7 of 15
mamabear
New Contributor

Re: Please help....penfed or no?

Thanks again!
Message 8 of 15
Anonymous
Not applicable

Re: Please help....penfed or no?

I got the same verification message when I applied.  Then got turned down for my auto loan.  Then.. got approved for 110% of my auto loan at the lowest possible APR in recon.  It was a roller coaster of a day.  Congrats.

Message 9 of 15
mamabear
New Contributor

Re: Please help....penfed or no?

I called and they asked for my DL and copy of utility bill to verify address. I haven't heard anything else but I can log in to my member page so I guess that part is done. The girl on the phone told me that each thing I apply for will be an additional HP. This seems odd considering what I've read here. I did get the feeling she may be new though. I'll call back and update.
Message 10 of 15
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