PenFed and hard pulls

KJinNC — Sat, 15 Jun 2019 02:48:02 GMT

I have a ton of hard pulls on Equifax and need more like I need a hole in my head, but, I understand that PenFed uses FICO 9 scores for some of their products. My FICO 9 scores are a lot better than my FICO 8 scores, so, I am wondering if it's worth joining PenFed.

Scores (all are Equifax, the only one I have FICO scores for, see signature for more on that):

FICO 8 - 691

FICO Auto 8 - 682

FICO Bankcard 8 - 694

FICO 5 - 767

FICO Auto 5 - 773

FICO Bankcard 5 - 777

FICO 9 - 748

FICO Auto 9 - 752

FICO Bankcard 9 - 756

(Why does FICO 8 hate me?)

I'm not all that interested in cards, although if I've already "paid" the hard inquiry, it might be worth a try.

I am interested in auto loans, and next year or the year after, a mortgage.

Questions:

1 - If (as I understand) they do an EQ hard pull to join, can I then apply for other products based on that same pull? Do I need to talk to somebody at PenFed to ensure they don't do multiple pulls or is it automatic? How long would I have to apply for other stuff before they'd do a fresh hard pull?

2 - What scores do they use for what products?

Thanks!

Re: PenFed and hard pulls

FinStar — Sat, 15 Jun 2019 02:55:45 GMT

Any more these days, it's a HP to join and a separate HP for a product which would include auto loans, personal loans, CLOCs and/or PLOCs. It used to be one could re-use the same HP within 60-90 days, which mostly applied to CCs.

You can let them know ahead of time, but they will provide a disclaimer, which essentially is permisible purpose. Usually, repurposed HPs with PenFed are YEMV.

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PenFed and hard pulls

Re: PenFed and hard pulls