PenFed uses one credit pull for all credit products. But PenFed could be bipolar because they could deny someone with a high FICO and "too many inquiries" while approving someone with a lower FICO. But I was approved for a personal LOC and CC with them this year with a FICO about 720-730.
Good luck and keep us posted if you decide to apply!
Read here about people who got denied or approved with PenFed http://ficoforums.myfico.com/t5/Credit-Cards/PenFed-Credit-Union-APP-results-and-FICO-SURVEY/m-p/476...
penFED is FED up with point chasers, churners, and people who just want limits for the hell of it. anyways they just blame everything on "pyramiding scheme" but PenFED doesn't have anything I want anyways =)
Chase Ink > everything PenFED. 
@distantarray wrote:penFED is FED up with point chasers, churners, and people who just want limits for the hell of it. anyways they just blame everything on "pyramiding scheme" but PenFED doesn't have anything I want anyways =)
Chase Ink > everything PenFED.
In other words they hate Egyptians. PenFed knows that some of us play the credit game and they want no part of it. They recently shot me down for an auto loan and a CLI with the same "pyramiding debt" excuse despite my EQ Fico been 761 at the time of application and less than 1% util showing. I opened 9 accounts over the last year so I know that's what their beef is. 
