Best auto loan inquiries that will use same HP for credit card? Also, does 14 day period apply?

[KnowledgeSeekr]

Trying to be strategic with auto loan inquiries that I can utilize the HP and also apply for a credit card. Which banks or credit unions allow you to use the same HP for both? 

Also, since you have 14 days for auto loan inquiries to count as one inquiry to your credit score, would using the same HP still only count once? 

[trvlscmmr]

I have no idea myself but I am also quite interested to learn if this is even possible

[Credit4Growth]

@KnowledgeSeekr
PenFed, PESCU are both examples of CUs that allow you to reuse the HP for a period of 30 days.

Sorry, I do not know where such a list containing such information can be found on these boards but just wait a little while longer and other may chime in with more examples. Other than that continue to use the search bar. We all go have to.

[Credit4Growth]

@trvlscmmr
It is absolutely possible. I in the past I have recommended both the above FI to family members for the purpose of reusing a HP within 30 days to apply for any two financial products, that is, outside of a mortgage.

I am certain their is at the very least 5, maybe 10 institutions which other MyFicoers can share with you!

- GL

[KnowledgeSeekr]

Great, thank you. Do you happen to know if PESCU offers any good products worth the HP? 

[trvlscmmr]

Makes sense some CU's will re-use HPs for both credit cards & auto loans. I knew Penfed will approve you for 2 credit cards with 1 hard pull. I have successfully double-dipped Penfed. I just wasn't aware that they can use the same HP for both CC products & auto loans which is awesome. 

[ceejay78]

@Credit4Growth @KnowledgeSeekr 

Per my personal experience, Penfed did not let me reuse an HP from my auto loan and a CC application resulted in another HP - Penfed will reuse the same HP for another CC app in the same 30 days.

[trvlscmmr]

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@ceejay78 wrote:

@Credit4Growth @KnowledgeSeekr 

Per my personal experience, Penfed did not let me reuse an HP from my auto loan and a CC application resulted in another HP - Penfed will reuse the same HP for another CC app in the same 30 days.

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Thanks for clarifying... Maybe the other CU's mentioned previously will use 1 HP for both CC app & an auto loan app

[Credit4Growth]

Thank you @ceejay78, Got it!

Many thing do change as time passes. To the best of my knowledge PSECU still allows you reuse a HP for 30 day... for any other the offerings (with the exclusion of a mortgage is what I would guess.)

I explicitly told my brother, who had been a member of this credit union for more than 15 yeard to go for a CC 1st,Less than 1 year before one of my brother purchased his 1st duplex he used his PESCU to apply for their Classic card, twenty six days later they (he & his wife) refinaced their auto loan to lower their payment on a vehicle they had a very high interest rate on, IMHO.

[ceejay78]

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@Credit4Growth must have been nice to be able to utilize 1 HP for different products ☺️

@Credit4Growth wrote:
Thank you @ceejay78, Got it!

Many thing do change as time passes. To the best of my knowledge PSECU still allows you reuse a HP for 30 day... for any other the offerings (with the exclusion of a mortgage is what I would guess.)

I explicitly told my brother, who had been a member of this credit union for more than 15 yeard to go for a CC 1st,Less than 1 year before one of my brother purchased his 1st duplex he used his PESCU to apply for their Classic card, twenty six days later they (he & his wife) refinaced their auto loan to lower their payment on a vehicle they had a very high interest rate on, IMHO.

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