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Joined PenFed. Now what?

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Anonymous
Not applicable

Joined PenFed. Now what?

I've done all my banking over the last 8 years with US Bank and recently acquired a Cash+ card from them with a $10k SL. But decided I shouldn't keep all my eggs in one basket and joined PenFed a bit impulsively a few days ago.

 

I simply have a savings account with $50 right now, and I have no urgent needs for a loan. So how should I best nurture a relationship with them so I can get good terms when my needs change?

Message 1 of 7
6 REPLIES 6
rbentley
Established Contributor

Re: Joined PenFed. Now what?

You took a HP to simply join PenFed.  That HP is good for 90 days.  You may want to use it to apply for a credit product within that time period, if you want to avoid a subsequent HP when you do decide you want/need credit with them.

Message 2 of 7
Anonymous
Not applicable

Re: Joined PenFed. Now what?

Hello rbentley, Your reply prompted a question. If someone -- PenFed or Capital One or anyone else -- you say that hard pull lasts for 90 days. Does that mean if I applied for a credit card from Capital One and got rejected, I could apply for a different (easier to get) credit card and NOT get a second hard pull? Thanks
Message 3 of 7
Harmony12
Frequent Contributor

Re: Joined PenFed. Now what?

Phillip1,

For CApital One, you can just use the pre-qualify link and Capital One will run a soft credit check every time you apply using the pre-qualify link.
Starting CK FAKOS 6/28/2018
TU 503
EQ 498
Discover EX 537

FICO 8
7/7/18 05/24/21
EQ 557 701
TU 566 715
EX 514 711

Mortgage Scores FICO 5,4,2
7/7/18 05/24/21
EQ 494 685
TU 480 703
EX 479 693

Goal Score 720
Message 4 of 7
rbentley
Established Contributor

Re: Joined PenFed. Now what?


@Anonymous wrote:
Hello rbentley, Your reply prompted a question. If someone -- PenFed or Capital One or anyone else -- you say that hard pull lasts for 90 days. Does that mean if I applied for a credit card from Capital One and got rejected, I could apply for a different (easier to get) credit card and NOT get a second hard pull? Thanks

My 90 day comment was directed to PenFed.  Capital One does not have the same policy.

Message 5 of 7
Anonymous
Not applicable

Re: Joined PenFed. Now what?

Would it make any difference how long after joining that I apply for a cc with them?

Message 6 of 7
Jnbmom
Credit Mentor

Re: Joined PenFed. Now what?

Nope I applied the day after I opened up the savings account. 

EXP 780 EQ 791TU 795
Message 7 of 7
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