05-19-2017 01:17 PM
So, since you already have a HP on file with PenFed, I'd go ahead and app for the card if you want it. You can always recon it and explain that the one car loan will be paid off as it was traded in for the new one so no big deal. You've got the HP so time to put it to use! They will use that same HP for up to 90 days, although some report less than this at times. Let er rip!
SO they do a hard pull even for just opening up a savings acct and membership? My credit reports are not showing any kind of pull from Penfed, I thought they only did a hard pull for checking accts or cc,loans etc and not for savings and/or a membership? Thanks
Penfed membership is a HP. If you're waiting for the myFICO subscription to notify you, it will take a couple days. It's slow at notifications. If you have credit karma you should receive notice that way rather quickly as they pull EQ.
05-19-2017 01:47 PM - edited 05-19-2017 01:48 PM
I don't use myfico, I use credit karma, credit check total, and a few other free ones. Nothing is showing up on any as of yet, just didn't know they would do a hard pull for membership and savings.
05-19-2017 02:36 PM
@Luv2Cruise, all of my Credit Unions did HP's initially when I opened my membership savings accounts with them, PenFed included. Even though it's not showing yet, I'm sure it will.
You can call PenFed (the reps are great) and they will confirm it and probable ask you if you want to app for the new Power card while they have you on the phone! Best of luck! BTW... my last HP from Pen in January was good for 30 days.
Have a great weekend!
05-19-2017 02:57 PM
I just checked credit karma and it showed the hard pull, My utilization is kind of high now but id like to transfer my barclay or cap1 balances to another card if I was to get approved. If you do a balance transfer does it lower your utilization, say if you pay off 2 cards and just have 1 card with a high balance? Never done a bal transfer before so not sure about them Thanks
05-19-2017 07:24 PM
05-19-2017 08:05 PM
05-19-2017 08:37 PM
Just approved for the power cash rewards card. Only $1000, but I'm 18 months post BK7 discharge.
EQ 08 Fico: 670
Penfed Nextgen: 648
Instant or Review?: Review
POI?(If yes, what type of proof of income) No
AAOA: 3.2 years
Derogs?: (If you have a BK please list type and discharge date!) BK7 discharged 11/2015
Util: 1 %
Total EQ Inquiries:
Last 12 months: 6
Last 6 months: 2
New Accounts in last 12 months: 5
Last 6 months: 2
Congratulations on your approval!!!
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