topic Re: question regarding multiple apps in Credit Card Applications

question regarding multiple apps

Anonymous — Sat, 28 Nov 2015 03:48:13 GMT

I got approved today for a NASA FCU CC and PLOC - they pulled from my experian.

Since then, I've had and seen a couple mentions regarding PenFed. It sounds like Penfed doesn't pull from experian.

I'm trying to get a better understanding of how apps work. Say i were to open my NASA from my experian pull, if i then applied for Penfed, would they even see my Nasa HP? Would i be putting myself at risk of something being Rescinded (ie. nasa FCU gave me a CC and Ploc, but then sees that i open a CC with PenFed).

Or would neither of them have any idea until they reported the new account to the CB's?

Re: question regarding multiple apps

Journeygod — Sat, 28 Nov 2015 04:00:57 GMT

lrc426 wrote:

I got approved today for a NASA FCU CC and PLOC - they pulled from my experian.

Since then, I've had and seen a couple mentions regarding PenFed. It sounds like Penfed doesn't pull from experian.

Or would neither of them have any idea until they reported the new account to the CB's

Although, Penfed historically pulls from Equifax, I would wait about a week before I app'd.

It's my understanding that some credit lenders actually subsribe to a service that notifies them of all recent inquiries for credit, regardless of which CB is pulled.
Though Penfed may not be as app sensitive as Barclay or Amex, you should still watch it.

With that much extended credit, they are bound to watch you closely for a few months. It doesn't mean you can't app, but you can't run the risk of looking desperate for credit. 'Desperate' makes lenders shaky and shaky lenders cancel credit lines.

Give it a week, then app for Penfed.

-Good Luck

Re: question regarding multiple apps

Anonymous — Sat, 28 Nov 2015 04:08:05 GMT

Awesome information - thank you. I'm perfectly happy with my NASA FCU for now, so I'll let the dust settle. Thanks for the insight!

Re: question regarding multiple apps

Journeygod — Sat, 28 Nov 2015 04:28:13 GMT

@Anonymous wrote:
Awesome information - thank you. I'm perfectly happy with my NASA FCU for now, so I'll let the dust settle. Thanks for the insight!

Here's something that may help put it in perspective:

In May 2015, I applied for Penfed.

Between June and July 2015, I applied for NASA, Amex, Barclay and Chase with no problem.

3 of those cards were within 1 week and I was fine.

Just put a week or 2 in between before you start app'ing and you should be fine!

-John

Re: question regarding multiple apps

Gmood1 — Sat, 28 Nov 2015 05:21:50 GMT

@Anonymous wrote:
I got approved today for a NASA FCU CC and PLOC - they pulled from my experian.

Since then, I've had and seen a couple mentions regarding PenFed. It sounds like Penfed doesn't pull from experian.

I'm trying to get a better understanding of how apps work. Say i were to open my NASA from my experian pull, if i then applied for Penfed, would they even see my Nasa HP? Would i be putting myself at risk of something being Rescinded (ie. nasa FCU gave me a CC and Ploc, but then sees that i open a CC with PenFed).

Or would neither of them have any idea until they reported the new account to the CB's?

Your NASA was probably a soft pull. It's very possible that it won't even show on your report at all. Penfed is a HP on Equifax. Once you're for sure things are clear and your accounts are funded for NASA. You can hit Penfed up..though I don't think it will make a difference one way or the other.

NASA is going to report your card next week to CB's. At that time, Penfed will see it. If you're golden with NASA, you'll have no problems with Penfed.