I just joined PenFed recently and received a Powercash card, I had recently purchased a vehicle, so I had lots of inquiries on my report. Yesterday, I decided to app for a refi since they already had a HP and it was approved, only 1 payment into my prior Cap One loan. Saving me in 2,300 in interest over life of loan. They've already pulled your credit just to join, so might as well give it a go. Not sure if there is a limit to re-applying if denied.
