PenFed question

Anonymous · ‎08-22-2017

Hey folks my husband and I joined PenFed this week. I understand from reading these boards that it will be a hard pull on our EQ reports but I still haven't seen an alert for it. Nevertheless, I'd like to know if they will use the same HP for credit products? We were thinking of applying for their Platinum rewards card. EQ would be a good pull for me because I only have 2 inquiries there but I don't want to incur an additional one for the cc if I don't need to. I remember their being a huge PenFed data point thread at one point but I can't seem to find it.

bizarrocreditworld · ‎08-22-2017

I recently confirmed with PenFed that one pull is used for all products for 90 days. The CSR indicated that they do that to avoid unnecessary pulls.

One other thing to note is that are changing from EQ NextGen2 to EQ Fico09, so that may or may not turn out to be to your advantage.

No credit news is good credit news!

Anonymous · ‎08-22-2017

Here's the link to the PenFed discussion

Anonymous · ‎08-22-2017

@bizarrocreditworld wrote:
I recently confirmed with PenFed that one pull is used for all products for 90 days. The CSR indicated that they do that to avoid unnecessary pulls.

One other thing to note is that are changing from EQ NextGen2 to EQ Fico09, so that may or may not turn out to be to your advantage.

Unfortunately that just isn't the case despite what the CSR told you. I know from personal experience that they don't always use the same pull for 90 days and certainly not for all products. Many people are finding that they only use the same HP for 30 days and often if you switch credit products they will pull again such as in if you originally applied for a credit card, they may pull again if you apply for an auto loan. Some people have had success getting PenFed to remove a 2nd HP but its always YMMV.

@Anonymous If you apply for the credit card soon after joining it most likely will not be another HP but as always is the case, if a credit product isn't worth the small damage to your credit reports if an HP happens, then it's probably not worth applying for at all. The new account probably will hurt your score via AAoA more than any HP will.

Anonymous · ‎08-22-2017

@Anonymous wrote:
@bizarrocreditworld wrote:
I recently confirmed with PenFed that one pull is used for all products for 90 days. The CSR indicated that they do that to avoid unnecessary pulls.

One other thing to note is that are changing from EQ NextGen2 to EQ Fico09, so that may or may not turn out to be to your advantage.
Unfortunately that just isn't the case despite what the CSR told you. I know from personal experience that they don't always use the same pull for 90 days and certainly not for all products. Many people are finding that they only use the same HP for 30 days and often if you switch credit products they will pull again such as in if you originally applied for a credit card, they may pull again if you apply for an auto loan. Some people have had success getting PenFed to remove a 2nd HP but its always YMMV.

@Anonymous If you apply for the credit card soon after joining it most likely will not be another HP but as always is the case, if a credit product isn't worth the small damage to your credit reports if an HP happens, then it's probably not worth applying for at all. The new account probably will hurt your score via AAoA more than any HP will.

Thanks for the info! I'm not overly worried about the HP affecting my score. I just really wanted to know what to expect. We figured that if they use the same hard pull we might as well apply for a joint CC. We are still life-meshing newlyweds LOL.

Anonymous · ‎08-22-2017

@Anonymous wrote:
@Anonymous wrote:
@bizarrocreditworld wrote:
I recently confirmed with PenFed that one pull is used for all products for 90 days. The CSR indicated that they do that to avoid unnecessary pulls.

One other thing to note is that are changing from EQ NextGen2 to EQ Fico09, so that may or may not turn out to be to your advantage.
Unfortunately that just isn't the case despite what the CSR told you. I know from personal experience that they don't always use the same pull for 90 days and certainly not for all products. Many people are finding that they only use the same HP for 30 days and often if you switch credit products they will pull again such as in if you originally applied for a credit card, they may pull again if you apply for an auto loan. Some people have had success getting PenFed to remove a 2nd HP but its always YMMV.

@Anonymous If you apply for the credit card soon after joining it most likely will not be another HP but as always is the case, if a credit product isn't worth the small damage to your credit reports if an HP happens, then it's probably not worth applying for at all. The new account probably will hurt your score via AAoA more than any HP will.
Thanks for the info! I'm not overly worried about the HP affecting my score. I just really wanted to know what to expect. We figured that if they use the same hard pull we might as well apply for a joint CC. We are still life-meshing newlyweds LOL.

Good luck with your application and congrats on the recent marriage.

Anonymous · ‎08-22-2017

@Anonymous wrote:
@Anonymous wrote:
@Anonymous wrote:
@bizarrocreditworld wrote:
I recently confirmed with PenFed that one pull is used for all products for 90 days. The CSR indicated that they do that to avoid unnecessary pulls.

One other thing to note is that are changing from EQ NextGen2 to EQ Fico09, so that may or may not turn out to be to your advantage.
Unfortunately that just isn't the case despite what the CSR told you. I know from personal experience that they don't always use the same pull for 90 days and certainly not for all products. Many people are finding that they only use the same HP for 30 days and often if you switch credit products they will pull again such as in if you originally applied for a credit card, they may pull again if you apply for an auto loan. Some people have had success getting PenFed to remove a 2nd HP but its always YMMV.

@Anonymous If you apply for the credit card soon after joining it most likely will not be another HP but as always is the case, if a credit product isn't worth the small damage to your credit reports if an HP happens, then it's probably not worth applying for at all. The new account probably will hurt your score via AAoA more than any HP will.
Thanks for the info! I'm not overly worried about the HP affecting my score. I just really wanted to know what to expect. We figured that if they use the same hard pull we might as well apply for a joint CC. We are still life-meshing newlyweds LOL.
Good luck with your application and congrats on the recent marriage.

Everything went smoothly! We were approved for the Platinum Rewards card for $10,000 at 14.99%. Wasn't instant but it was only a couple of hours before they came back with the approval. Not a difficult process at all.

Anonymous · ‎08-22-2017

@Anonymous wrote:
@Anonymous wrote:
@Anonymous wrote:
@Anonymous wrote:
@bizarrocreditworld wrote:
I recently confirmed with PenFed that one pull is used for all products for 90 days. The CSR indicated that they do that to avoid unnecessary pulls.

One other thing to note is that are changing from EQ NextGen2 to EQ Fico09, so that may or may not turn out to be to your advantage.
Unfortunately that just isn't the case despite what the CSR told you. I know from personal experience that they don't always use the same pull for 90 days and certainly not for all products. Many people are finding that they only use the same HP for 30 days and often if you switch credit products they will pull again such as in if you originally applied for a credit card, they may pull again if you apply for an auto loan. Some people have had success getting PenFed to remove a 2nd HP but its always YMMV.

@Anonymous If you apply for the credit card soon after joining it most likely will not be another HP but as always is the case, if a credit product isn't worth the small damage to your credit reports if an HP happens, then it's probably not worth applying for at all. The new account probably will hurt your score via AAoA more than any HP will.
Thanks for the info! I'm not overly worried about the HP affecting my score. I just really wanted to know what to expect. We figured that if they use the same hard pull we might as well apply for a joint CC. We are still life-meshing newlyweds LOL.
Good luck with your application and congrats on the recent marriage.
Everything went smoothly! We were approved for the Platinum Rewards card for $10,000 at 14.99%. Wasn't instant but it was only a couple of hours before they came back with the approval. Not a difficult process at all.

Congrats! Very well done

ExplicitElicit · ‎08-22-2017

@Anonymous wrote:
@Anonymous wrote:
@Anonymous wrote:
@Anonymous wrote:
@bizarrocreditworld wrote:
I recently confirmed with PenFed that one pull is used for all products for 90 days. The CSR indicated that they do that to avoid unnecessary pulls.

One other thing to note is that are changing from EQ NextGen2 to EQ Fico09, so that may or may not turn out to be to your advantage.
Unfortunately that just isn't the case despite what the CSR told you. I know from personal experience that they don't always use the same pull for 90 days and certainly not for all products. Many people are finding that they only use the same HP for 30 days and often if you switch credit products they will pull again such as in if you originally applied for a credit card, they may pull again if you apply for an auto loan. Some people have had success getting PenFed to remove a 2nd HP but its always YMMV.

@Anonymous If you apply for the credit card soon after joining it most likely will not be another HP but as always is the case, if a credit product isn't worth the small damage to your credit reports if an HP happens, then it's probably not worth applying for at all. The new account probably will hurt your score via AAoA more than any HP will.
Thanks for the info! I'm not overly worried about the HP affecting my score. I just really wanted to know what to expect. We figured that if they use the same hard pull we might as well apply for a joint CC. We are still life-meshing newlyweds LOL.
Good luck with your application and congrats on the recent marriage.
Everything went smoothly! We were approved for the Platinum Rewards card for $10,000 at 14.99%. Wasn't instant but it was only a couple of hours before they came back with the approval. Not a difficult process at all.