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I have a ton of hard pulls on Equifax and need more like I need a hole in my head, but, I understand that PenFed uses FICO 9 scores for some of their products. My FICO 9 scores are a lot better than my FICO 8 scores, so, I am wondering if it's worth joining PenFed.
Scores (all are Equifax, the only one I have FICO scores for, see signature for more on that):
FICO 8 - 691
FICO Auto 8 - 682
FICO Bankcard 8 - 694
FICO 5 - 767
FICO Auto 5 - 773
FICO Bankcard 5 - 777
FICO 9 - 748
FICO Auto 9 - 752
FICO Bankcard 9 - 756
(Why does FICO 8 hate me?)
I'm not all that interested in cards, although if I've already "paid" the hard inquiry, it might be worth a try.
I am interested in auto loans, and next year or the year after, a mortgage.
Questions:
1 - If (as I understand) they do an EQ hard pull to join, can I then apply for other products based on that same pull? Do I need to talk to somebody at PenFed to ensure they don't do multiple pulls or is it automatic? How long would I have to apply for other stuff before they'd do a fresh hard pull?
2 - What scores do they use for what products?
Thanks!
Any more these days, it's a HP to join and a separate HP for a product which would include auto loans, personal loans, CLOCs and/or PLOCs. It used to be one could re-use the same HP within 60-90 days, which mostly applied to CCs.
You can let them know ahead of time, but they will provide a disclaimer, which essentially is permisible purpose. Usually, repurposed HPs with PenFed are YEMV.