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Posts: 22
Registered: ‎03-16-2017
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NFCU Vs PENFED for Auto & CC

I was currently just approved for 3 credit cards with Chase: $25k Saphire Reserve, $10k Sapphire Preferred & $8500 Amazon Prime. I'm looking to try and kill two birds with one stone and apply for a credit card & car loan with the same hard inquiry. Car loan is in $30k range and looking to get a CC $20k+. Questions:

1. My inquiries for the cards were EX & TU. Looks like both NFCU & PENFED pull EQ for auto. Should I apply before those new credit lines hit my account?

2. Considering all auto loans within a 14 day period only count as one hit on my credit. If I apply for the PENFED auto & NFCU auto first before asking them to use the same inquiry to apply for a CC? That way only counts as one hit on my score? Not sure if I need to be a PENFED member first.. I am already a NFCU member. 

3. I have a $5k balance on my $25k NFCU card. Would you pay the entire amount off prior to applying or half, etc? Experian National Equivalently Score: 818
Credit Karma Vantage Scores: TU 716 & EQ 732
Chase Card Acquisition Risk Score: EX 719
Wells Fargo Monitoring PLUS Scores: EX 780, EQ 685, TU 767
FICO Bankcard Score: 5/EQ 717, 4/TU 630, 2/EX 814
MyFico Fico Score 8: EQ 628, TU 616, EX 620
MyFico FICO Auto Score: 5/EQ 716, 4/TU 672, 2/731
Ratio of Revolving Balances to CL 16% /Oldest Account Closed 8 years / 2 Active CC's reporting 1 year & 1 mo
$25,000 Navy Federal Cash Rewards (1 year) $25,000 Chase Sapphire Reserve (new)  $10,000 Chase Sapphire Preferred (new) $ 8,500 Chase Amazon Prime (new) $ 1,000 Wells Fargo Propel Amex (1mo old) $500 Wells Fargo Business (1 year) (not reporting on personal)
You have a public record and/or collection on your credit report. (unpaid medical collection, paid tax lien)
You have no recent activity from a non-mortgage installment loan. 
You have a short credit history.
You have too many credit accounts with balances


Established Contributor
Posts: 1,014
Registered: ‎04-14-2016

Re: NFCU Vs PENFED for Auto & CC

You will take a HP to join Penfed - you can then use that same HP to apply for as many products as you like within 60-90 days


Navy on the other hand never re-uses a hard pull, so expect as many pulls as products you apply for, full stop.

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