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JayinHouston

Penfed Approval

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I've been lurking for years even once I registered I've done much more reading than posting but I have to say thank you to any and everybody who may read this but to the task at hand pertaining to this I'm on Chexsystems for two entries a BOA account for $950.00 from November 2010 and a Chartway FCU account for 650 in May 2011 literally I've been attempting for the last couple years to get around Chexsystems to get back into a credit union well on a whim I applied for Penfed and was approved for a checking and savings so hopefully someone who's been in my situation and have been turned down numerous times will know to give Penfed a try

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Jay, was gonna let you know that i applied and was approved! , but only for savings right now. I called and was told they are credit score driven based off credit report..Im hanging just under 580, so she stated she thought the score min was about 650 but wasnt sure..But anywho. good find...thanks to you i've finally been able to get my foot back in the door !

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Score minimum might be 580... I saw somewhere I have a 588 and same credit bureau 621.. I got approved for checking AND savings, but their terms are horrible. No free checking, six months probation for the mobile deposit... AND no shared branching.

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On 11/25/2015 at 4:04 PM, dredee0 said:

Score minimum might be 580... I saw somewhere I have a 588 and same credit bureau 621.. I got approved for checking AND savings, but their terms are horrible. No free checking, six months probation for the mobile deposit... AND no shared branching.

But you can do a bank transfer to Pen Fed and they let you have the first $3,000.00 available right away.. no holds. same way with mobile deposits. $3000 immediately available. Dont forget, you also get the $500 Line of Credit. I applied in 2016 and was approved for all services right from the start. my FICO then was a 615 and even got a $13,000 limit credit card. 

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Is Penfed still good if you’re on Chex or EWS? I’m only looking for savings do o can apply for s loan? 

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Posted (edited)

For the basic membership account, their representative said they are also looking for a FICO in the 600's. I'm sure they review each applicant on a case by case basis. I've had individuals report they were approved with a 570. No Chex or EWS.

Edited by tmcgill

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