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Credit Unions Memberships with SP

Your FICO® Scores can impact your loan interest rates, terms, approvals and more.
Frequent Contributor

Re: Credit Unions Memberships with SP

I was Hp'd in March '19 for PenFed.

Though now that I think about it, I also applied for a cc. Only 1 hp, but it could have been for the cc app.
Message 11 of 21
Established Member

Re: Credit Unions Memberships with SP

Trying to figure out : Opening account is SP at Penfed ? or HP 

Message 12 of 21
Moderator Emeritus

Re: Credit Unions Memberships with SP

A CC app is a HP basically everywhere with almost every lender but absolutely with every CU to my knowledge.

Many CU’a have finally started to code as soft, thankfully: DCU changed and I believe Penfed did too though as some are reporting.

That all said, inquiries don’t count for much and so I wouldn’t try to avoid them if it is for a quality CU that I would make use of... there are plenty of CU’s that don’t fit that definition unfortunately.



        
Message 13 of 21
Frequent Contributor

Re: Credit Unions Memberships with SP


@allegra37 wrote:

Trying to figure out : Opening account is SP at Penfed ? or HP 


1 year ago it was HP for me.

Message 14 of 21
Established Member

Re: Credit Unions Memberships with SP

DCU has CO-OP branches thats why I joined them it was SP membership. Penfed is reputable CU but I read other threads they HP twice for membership and CC. 

Message 15 of 21
Frequent Contributor

Re: Credit Unions Memberships with SP

Penfed membership came with an HP for my wife about two months ago. 


Message 16 of 21
Frequent Contributor

Re: Credit Unions Memberships with SP


@Caardvark wrote:

Penfed membership came with an HP for my wife about two months ago. 


Interesting.

 

My only DP's are that our reports were frozen during application, and I did have to fax (to the best of my memory) DD214, copy of driver's license, and *maybe* a utility bill for address verification.

 

No CC app.

 

However, I have noticed that almost 7 months later, I still cannot add an external account. So my account just sits there with a $5 share. I basically just joined in case any of their CC's struck my fancy in the future.

    EQ=830        TU=816         EX=807      INQ=1/1/5     UTIL=1%         AZEO

Message 17 of 21
Frequent Contributor

Re: Credit Unions Memberships with SP

A DD214 for Penfed? Really?

 


@OmarR wrote:

My only DP's are that our reports were frozen during application, and I did have to fax (to the best of my memory) DD214, copy of driver's license, and *maybe* a utility bill for address verification.


Message 18 of 21
Frequent Contributor

Re: Credit Unions Memberships with SP


@Caardvark wrote:

A DD214 for Penfed? Really?


 

Yeah, they gave me a long list of acceptable verification docs. I just chose what I had easily available at the time.

    EQ=830        TU=816         EX=807      INQ=1/1/5     UTIL=1%         AZEO

Message 19 of 21
Moderator Emeritus

Re: Credit Unions Memberships with SP

I suspect the fact your reports were frozen was why you had to jump through the additional verification steps.



        
Message 20 of 21