Does Penfed use the same HP within 30 days?

[-Wade-]

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@Ron1 wrote:

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@sandman2435 wrote:

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@Ron1 wrote:

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@-Wade- wrote:

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@Ron1 wrote:

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@-Wade- wrote:

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@Ron1 wrote:

I searched the old thread. Penfed changed from 90 days to 30 days policy for using the same HP.

link:

http://ficoforums.myfico.com/t5/Credit-Cards/PenFed-reusing-a-pull/m-p/1681350/highlight/true#M46667...

Ron.

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Thats for the update.

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Yes, that's what I found.

Ron.

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Looks like Penfed is always changeing stuff I've been with them 3 years this month

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Yes, they do. Checking didn't come with overdraft protection when I joined.

Ron.

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Ron, Is this like NFCU'S Nav Check?..I have 50K in credit now with Penfed

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Thanks! Nice to know. I am afraid. I might denied after I got approved yesterday.

Ron.

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Look at the good side, it will not cost you a HP if you do it now

[sandman2435]

Ron,Once u get in with penfed,Than they are very genious,Ive started out 2 years ago with a 10K credit card now Im up to 50K with 3 credit cards with them

[Ron1]

I already got approved for Promise Visa thru quarter pre-approval two months ago. I also got approved overdraft LOC yesterday. I am afraid. I got denied due to pyramiding. They are conservative, not generous.

Ron. 

[Anonymous]

@-Wade- wrote:

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@Anonymous wrote:

I was gonna post this in a new topic but it kind of fits here. 

My question is whether there is any disadvantage in applying for a second credit card from PenFed within a week after getting approved for a previous card? I just joined PenFed the other day to apply for their Amex, got approved for $5000 (yay!) and now I am thinking about getting their 5% cash rewards. 

Of course I know me getting it would decrease my AAoA but I am not too concerned about that. I have a very short credit history (2 years) so I figure better get more cards sooner rather than later. But asides from that I see absolutely no disadvantage. Is it possible that they may do a HP even though they just did one literally yesterday? 

Also somewhat unrelated question: Is it still the case (or was it ever really the case) that they don't allow new members to get a second credit card within one year? 

Thanks for any insights CC experts here. 

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It will be the same HP but the card is only good for gas if that's what you want

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Thanks. Yeah I know it's only gas (I wish there was a credit card with universal 5% cash back...). Don't drive much now but seems pretty solid card to have in my wallet - if I get it of course. I was very surprised to get their travel rewards with such a thin file. 

[Ron1]

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@Anonymous wrote:

@-Wade- wrote:

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@Anonymous wrote:

I was gonna post this in a new topic but it kind of fits here. 

My question is whether there is any disadvantage in applying for a second credit card from PenFed within a week after getting approved for a previous card? I just joined PenFed the other day to apply for their Amex, got approved for $5000 (yay!) and now I am thinking about getting their 5% cash rewards. 

Of course I know me getting it would decrease my AAoA but I am not too concerned about that. I have a very short credit history (2 years) so I figure better get more cards sooner rather than later. But asides from that I see absolutely no disadvantage. Is it possible that they may do a HP even though they just did one literally yesterday? 

Also somewhat unrelated question: Is it still the case (or was it ever really the case) that they don't allow new members to get a second credit card within one year? 

Thanks for any insights CC experts here. 

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It will be the same HP but the card is only good for gas if that's what you want

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Thanks. Yeah I know it's only gas (I wish there was a credit card with universal 5% cash back...). Don't drive much now but seems pretty solid card to have in my wallet - if I get it of course. I was very surprised to get their travel rewards with such a thin file. 

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I have had the card for over a year. I earned a lot of Cash back. It is a good card to have. You need to open a CD/MMA to avoid $25AF after a year and earned 5% instead of 3%.

Ron.

[B335is]

Sorry I'm late, yes Ron it is 30 days not 90 days for same HP.  I asked the last time I applied (I think it was May 2014).  You got approved for Thrifty really quick, I would probably go ahead and try for the card since it will be the same HP.

[sandman2435]

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@Ron1 wrote:

I already got approved for Promise Visa thru quarter pre-approval two months ago. I also got approved overdraft LOC yesterday. I am afraid. I got denied due to pyramiding. They are conservative, not generous.

Ron. 

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Ron, It took me 3 trys and 2 years to get in penfed lol,Yes They are very very conservative,I got in with when I had a bunch of new accounts and lots of Inq,The 3rd time was the charm with me,I first got their platnuim rewards visa with a 10K limit,( i had to fax in proof of income docs,which I have no problem with)after using the card for a year,I applyed for their AMEX,I was approved Instanity for 10K,,than after 6 months had a pre-approval for the cash back visa(5% off gas) it was a 5K approval.Than just 4 months ago receieved another pre-approval for up to 25K on a new card or get a limit increase on any account I have with them(I took the limit increase on my platnium rewards visa

[Ron1]

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@B335is wrote:

Sorry I'm late, yes Ron it is 30 days not 90 days for same HP.  I asked the last time I applied (I think it was May 2014).  You got approved for Thrifty really quick, I would probably go ahead and try for the card since it will be the same HP.

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B335is,

It is never too late. I am afraid. It is too quick to apply for another credit card after I got approved for overdraft LOC yesterday.

Ron.

[Ron1]

Sandman,

I applied both Penfed Cash Rewards Visa and Thrifty Credit Service last year.  I got denied for credit card because they couldn't pull EQ. I wrote them an email to recon. They pulled TU instead. I got approved for $5k after manual review. They didn't require any docs. I got pre-approval for Promise Visa without HP two months ago. I got approved for Thrifty Credit Service over the phone. I am afraid. I might ask too much credit from them too soon.

Ron.

[Anonymous]

For what it's worth, I just got the PenFed Amex (after joining PenFed in the same phone call) with a 5K limit, instant approval. I have short credit but had no inquiries on EQ at the time, and credit score was probably somewhere in the 750s. Also, by Credit:Income ratio at the time was about 2:3, and I think that might have helped me avoid the "Pyramiding" label.

Point is that they don't seem THAT conservative, at least they weren't towards me.