Does PenFeds ODLOC use a hard pull?

Anonymous · ‎03-12-2022

So I just opened a checking and a savings with them, I wanted a overdraftline of credit and locked my experian report prior. The info message says it doest effect your credit score... but it said that my experain account was locked and it couldn't process? So is the ODLOC a hard pull or a soft pull I'm confused.

Brian_Earl_Spilner · ‎03-12-2022

Probably a hard pull like most credit unions. While a lender you have an existing relationship with can access a locked report, it needs to have a legal purpose to. Applying for new credit typically requires your reports to be unlocked even with an existing relationship.

FinStar · ‎03-13-2022

@Anonymous wrote:
So I just opened a checking and a savings with them, I wanted a overdraftline of credit and locked my experian report prior. The info message says it doest effect your credit score... but it said that my experain account was locked and it couldn't process? So is the ODLOC a hard pull or a soft pull I'm confused.

Yes, it requires thawing and may likely be HP.

So, if you're applying for their Overdraft LOC (also known as Thrifty LOC), you'll need to thaw your CR file @Anonymous