Pen Fed Membership and CC Apps...

[Credit-hoarder]

Hello all. Thinking of joining Pen Fed. I'm in Va. and they actually have branches close to where I live so it would be somewhat convenient. My question is do they HP for membership? Because I'm being a SUPER MISER wiith HP's right now. Also if accepted do they use that same pull for CC applictions--and if so for what period of time? Any useful replies appreciated. Thanks. EDIT: Which bureau do they pull?

[CreditCuriosity]

Yes a HP against EQ for memberhsip and that same HP can be used for 90 days for any credit product.  So your case CC would be used on same HP as memberhsip.  They use EQ NextGen 02 score which will tend to be around 20-40 points lower than your 08 score.. Don't let the really scare you many peopel get approved with 640-660 EQ  2 nextgen score for good limits, etc.  Hopefully they start using a better not so outdate FICO scoring model in the near future

[Credit-hoarder]

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@CreditCuriousity wrote:

Yes a HP against EQ for memberhsip and that same HP can be used for 90 days for any credit product.  So your case CC would be used on same HP as memberhsip.  They use EQ NextGen 02 score which will tend to be around 20-40 points lower than your 08 score.. Don't let the really scare you many peopel get approved with 640-660 EQ  2 nextgen score for good limits, etc.  Hopefully they start using a better not so outdate FICO scoring model in the near future

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Thanks for the info CC!

[Anonymous]

Nevermind It was equifax, I don't know why I thought I saw it on my experian lol

[RonM21]

Compared to say NFCU, the fact that they usually do everything with one HP initially is nice.

[Anonymous]

Have you seen the 195+ page thread on penfed?  You should check it out b/c there is aton of great info there.  They do hp, but the hp is good for 90 days and they use the same hp for all of your apps, ie. memebership, cc, auto loand etc.  I just joined up and they have been great to work with on an auto loan and cc.

[Viva-LV]

I'm off to a great start with them: membership, CC, PLOC and CC CLI within three weeks. They're very pleasant and knowledgeable on the phone. I called about a BT, and how they evaluated it as opposed to regular swipes (they view them the same). Looks like you can only do one BT/day, so I called in with two others, processed that day. Excellent service!

[Anonymous]

PenFed is AWESOME! 

They are super nice on the phone. 

They only did 1 hard pull on me for Membership, Savings, Platinum Visa Rewards & PLOC.  Did I mention they are nice and don't make you feel like a peon on the phone and their NICE!  

They have a nice phone app! 

Easy to use website and phone app! 

They have so many other products... 

If you are in need for a car, refinancing cars etc... they have the lowest of rates! 

If you need refinancing home, hloc or purchasing a home... they got that covered as well. 

They may just be #3 Credit Union across the Nation... 

But to me .... they are #1! 

I am glad I chose them over NFCU. 

NFCU seems awesome too .. they seem to love doing the HP!!! 

Plus now it seems people are getting AA's ... and no one can advise what the heck is going on. 

Oh and seems very reasonable in recon's with PenFed if you get initially denied.. or 

if you don't like the SL that you get.... 

Good Luck and keep us posted. 

GO PENFED! 

[Vegas4Play]

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@Credit-hoarder wrote:

Hello all. Thinking of joining Pen Fed. I'm in Va. and they actually have branches close to where I live so it would be somewhat convenient. My question is do they HP for membership? Because I'm being a SUPER MISER wiith HP's right now. Also if accepted do they use that same pull for CC applictions--and if so for what period of time? Any useful replies appreciated. Thanks. EDIT: Which bureau do they pull?

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LOL

[Credit-hoarder]

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@Vegas4Play wrote:

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@Credit-hoarder wrote:

Hello all. Thinking of joining Pen Fed. I'm in Va. and they actually have branches close to where I live so it would be somewhat convenient. My question is do they HP for membership? Because I'm being a SUPER MISER wiith HP's right now. Also if accepted do they use that same pull for CC applictions--and if so for what period of time? Any useful replies appreciated. Thanks. EDIT: Which bureau do they pull?

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LOL

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Over the last 3.5 weeks I've wasted: 2 HP's on Chase with a denied Marriott app (1 each on EX and EQ)...1 EQ on USAA --denied on a pre-selected offer...and 1 on TU with FIA--B of A (denied for a CLI). And saw a 25 pt. score drop b/c of 3 new INQ's on EQ--went from 695 to 670....CRAZY! If Pen Fed pulls EQ, I'm gonna have to let that score recuperate a little. Target date for application is Oct 1st of this year--when I'll only have 4 countable INQ's (less than 1 year old) on my EQ