PenFed CC Products

Hut1 · ‎10-24-2019

PenFed regulars - Any of ya’ll know if they HP a new cc app even if they just HP for the membership? Also, I think they pull EQ9, but what’s the score range for approvals?

App 05/19 for Go Rewards | PC 10/19 to More Rewards | $29.5K

Anonymous · ‎10-24-2019

You can expect an HP for membership and for CC, some have even gotten 3.

640+ EQ FICO 9 minimum, 670+ is a better bet.

They aren't a fan of new accounts and they don't like lots of accounts with balances, even small ones (pyramiding debt).

CreditCuriosity · ‎10-24-2019

Could be a single or double..... Just depends as their policy has changed so much over time. Usually they will try to use the same HP for 30 days, but not guranteed. With regards to CC probably a 660-680 is safe(but not guranteed as nothing is in the cc world), but dont expect a big lmit and if you have been agreesive on credit seeking then expect a denial.

Anonymous · ‎10-24-2019

@CreditCuriosity wrote:
Could be a single or double..... Just depends as their policy has changed so much over time. Usually they will try to use the same HP for 30 days, but not guranteed. With regards to CC probably a 660-680 is safe(but not guranteed as nothing is in the cc world), but dont expect a big lmit and if you have been agreesive on credit seeking then expect a denial.

There are actually a few posts like this around here. 3 is rare but it happens.

https://ficoforums.myfico.com/t5/General-Credit-Topics/Penfed-3-Equifax-Pulls-in-20-Minutes/td-p/555...

mikesonthemend · ‎10-24-2019

They actually pulled 3 on me. One to open initial account, one for CC app, and one for the better interest rate savings account, all within an hour. After calling and disputing, the 3rd pull was removed.

Living through Darwinism is so much worse than learning about about it in school.

Hut1 · ‎10-25-2019

Blah! I got a membership with them a few days ago since CU's have better rates, but I'm hesitant to pull the trigger. My EQ9 is sitting at 699 and none of my new accounts have hit my CR's yet, but I'm not sure which is a better bank - PenFed or USAA? I love USAA.. customer service is top notch, but PenFed will have a better rate.

I need a tie-breaker....

Anonymous · ‎10-25-2019

@Hut1 wrote:
Blah! I got a membership with them a few days ago since CU's have better rates, but I'm hesitant to pull the trigger. My EQ9 is sitting at 699 and none of my new accounts have hit my CR's yet, but I'm not sure which is a better bank - PenFed or USAA? I love USAA.. customer service is top notch, but PenFed will have a better rate.

I need a tie-breaker....

Just go for both. Yolo and such. 🤷‍♂️

Seriously though, I would probably grab both if I could. Then hit the garden for awhile to let scores recover.