PenFed Policy on 90 HP

[Anonymous]

So I have been reading these boards extensively lately and have gotten a lot of mixed reviews on PenFed HP policy. I heard that they can use one HP  for applications anywhere from 30-90 days. At the same time I have read some members of getting HP 2-3 times for each app. So I messaged customer service and received this reply.

Thank you for contacting PenFed.

Our records indicate we did pull a full credit report from Equifax when your
membership was established. Typically we can use the same credit report as we
will keep the credit report on file for up to 90 days. However, please keep in
mind it is a the loan officers desecration if an additional credit report pull
is required.

If you need further assistance, please contact us.

Just thought anyone interested or trying to save themselves from HP should know!

[Loquat]

The 90 day pull is a ymmv kinda thing. If they feel a need to see a more updated view of your report, they're going to pull again. 

[Appleman]

When I read the title I thought, what is PenFed's policy on 90 inquiries......

90 Day policy makes more sense

[RonM21]

Definitely ymmv. It would be nice if they can tell you ahead of time when you app for something else.

[NichelleN]

Thanks for posting this. I'm in the garden now but have been planning to apply with PenFed when I exit in a few months. I'll be looking to close a few low usage cards, open a couple of new ones and get a car loan. The single pull over 90 days was very appealing.

[nitrov]

it largely depends on what products you're applying for. If you app for a CC, you have 90 days to app for a CLI using the same pull MOST of the time. You can also use the same app for a PLOC or another new credit card usually. The only times this is NOT the case is often when you're applying for a totally different product, like a home equity loan or a mortgage. Auto loans usually use the HP from within 90 days, but for some larger amounts (over $30k) they sometimes do another HP. 

Hope that helps!

[NichelleN]

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@nitrov wrote:

it largely depends on what products you're applying for. If you app for a CC, you have 90 days to app for a CLI using the same pull MOST of the time. You can also use the same app for a PLOC or another new credit card usually. The only times this is NOT the case is often when you're applying for a totally different product, like a home equity loan or a mortgage. Auto loans usually use the HP from within 90 days, but for some larger amounts (over $30k) they sometimes do another HP. 

Hope that helps!

---

It definitely does. Thanks!

[SnowBowl]

I got them to bump up my promise visa from 500 SL  to 3K on same pull.