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Penfed hardpull on EQ after becoming a member!!

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Isacking97
Regular Contributor

Penfed hardpull on EQ after becoming a member!!

Is this normal? first time becoming a member of an credit union, I what to get a car loan next month is this will affect my car aplication?

 

Extra: Im paying off some credit card balances to get a better credit score!! 



Starting Score:EX: 713 EQ: 698
Message 1 of 5
4 REPLIES 4
Gmood1
Super Contributor

Re: Penfed hardpull on EQ after becoming a member!!

Extra: Im paying off some credit card balances to get a better credit score!! 

 

 

Too late, yes it is normal. Use that HP for your auto loan, checking account, credit card and whatever other product they offer, if you want them.

Message 2 of 5
Anonymous
Not applicable

Re: Penfed hardpull on EQ after becoming a member!!

Yup hard pull for membership. But you should be able to use that same hardpull for the next 90 days. I received a credit card and auto loan with that single HP. A BOGO 😂
Message 3 of 5
expatCanuck
Super Contributor

Re: Penfed hardpull on EQ after becoming a member!!

As the folks above have said -- hard pull to establish membership, the same pull used to obtain a credit card.

2023 Goal: save 3 months' net income

Starting FICO8: 666 (give or take a FICO)
[ Last INQ 12-Feb-2024 ]
EQ8415 INQ (Auto, CC, HELOC, 2 mort)7y2m
EX8125 INQ (2 CC, 2 mort, HELoan)6y11m
TU8294 INQ (3 CC, 1 mort)6y6m
5/243/12AoYA 0m | AoOA 23y6m~3%
Message 4 of 5
K-in-Boston
Credit Mentor

Re: Penfed hardpull on EQ after becoming a member!!

To ease your fears, it is extremely unlikely that a single hard pull on Equifax will really make one bit of difference on an auto loan.  In fact you may have just done yourself a favor.  With those scores, you should be able to qualify for a PenFed auto loan, assuming everything else in your profile would make you otherwise eligible.  So when you go to the dealer and agree upon a price, when it's time to actually do the financing you can tell them that you are only interested in financing through one of their partners if they can beat 2.49%, or whatever the case may be.

Message 5 of 5
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