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Decided to check out the PenFed information, etc., and went into their application for membership AND credit card. Got about halfway through the membership/ card application and decided it was more work than was necesaary, plus I didn't really need the card. Two days later on MYFICO I received an alert that a hard inquiry was made on my credit report. Checked it out and it was PenFed. So, called them and spoke with a very nice lady who informed me that about halfway through the application it gets submitted and the process begins. Told her that I never came close to finishing the application, but since a hard pull had already been made, let's get on with it and apply for the card. She asked a bunch more questions and gave me an immediate approval for $20K line on the Visa card.
Just be more cautious than I was when working your way thorough their application process.
@tubadude wrote:Decided to check out the PenFed information, etc., and went into their application for membership AND credit card. Got about halfway through the membership/ card application and decided it was more work than was necesaary, plus I didn't really need the card. Two days later on MYFICO I received an alert that a hard inquiry was made on my credit report. Checked it out and it was PenFed. So, called them and spoke with a very nice lady who informed me that about halfway through the application it gets submitted and the process begins. Told her that I never came close to finishing the application, but since a hard pull had already been made, let's get on with it and apply for the card. She asked a bunch more questions and gave me an immediate approval for $20K line on the Visa card.
Just be more cautious than I was when working your way thorough their application process.
With Penfed, for an initial memebership it is a hardpull... Congrats on the approval..
So be cautious why? Because you will get a heart attack? Yes if you read on here about penfed they do a HP. We all know that but congratz and this should be moved to approvals.
@tubadude wrote:
Guess it was later at night and I didn't catch the fine print regarding a hard pull for membership. My bad. But, it's appears to have worked out OK. Will certainly be more cognizant in the future.
If there is something else you need, you may take advantage of it as they use the same HP for 90 days for all other applications just an FYI..
@Anonymous wrote:
@tubadude wrote:
Guess it was later at night and I didn't catch the fine print regarding a hard pull for membership. My bad. But, it's appears to have worked out OK. Will certainly be more cognizant in the future.If there is something else you need, you may take advantage of it as they use the same HP for 90 days for all other applications just an FYI..
Wow I had no idea. I almost registered last week knowing that I would not apply for credit with them at the current time but in the future, this would've been catastrophic to me as I just applied for 2 credit cards this month and for sure would've resulted with the standard "pyramiding debt" denial. Thank goodness for these forums because I might've done this at any time. HP for becoming member is scary.
@tubadude wrote:
She told me I was automatically approved for a car loan of $16K if I was interested. Thanks, but no thanks. Sorry if this posted twice.
PenFed is so unique it has it's own set of pros and cons. That is kind of one of it's pros strangely enough. To get a hard pull that works for you so much is huge. Telling you very up front "You can have one of these, one of these, and one of those if you want" is a huge benefit. The cons of course are all the weirdness around getting in, luck with UWs and CS, and more.
@tubadude wrote:Decided to check out the PenFed information, etc., and went into their application for membership AND credit card. Got about halfway through the membership/ card application and decided it was more work than was necesaary, plus I didn't really need the card. Two days later on MYFICO I received an alert that a hard inquiry was made on my credit report. Checked it out and it was PenFed. So, called them and spoke with a very nice lady who informed me that about halfway through the application it gets submitted and the process begins. Told her that I never came close to finishing the application, but since a hard pull had already been made, let's get on with it and apply for the card. She asked a bunch more questions and gave me an immediate approval for $20K line on the Visa card.
Just be more cautious than I was when working your way thorough their application process.
Congratulations on the approval!
Keep both your credit and your body in top shape!