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lhendricks92 said: Discplayer said: Penfed has now up its maximum unsecured credit allowed per member. Old was $40,000 and now is $50,000. I just successfully up’ed an existing $10,000 limit card to $40,000 for a 5.99% for life BT and then opened a new $10,000 limit card so I could continue to use the card as my day to day spending account.

Did you have to supply financials? What's your HHI and how old is your original card? TIA!


1st card was opened 1/2007 @ $10,000 (heavy spending ~7k month, paid in full each due date) then up’ed to $40,000 for BT. Then asked if I could have a card to continue spending on, given $10,000 card (They did do a hard pull, even after stating they would not need to). HHI stated $98,000, no bank statements or pay stubs required.

Discplayer, thanks for the heads up! Just called to up my CL from 20K to 50K! Took a hard pull, but definitely worth it. The card is 6 months old and barely used. HHI of 125K.

If you indicate that you're eligible to join because a sibling, parent, etc is eligible, they ask for that person's name and phone number.

Do they call that person to verify eligibility?

Can a member be a brother or sister? Or does it have to be a grandparent/parent?

Thanks!

Thanks for all the info! I signed up for a PenFed account over the weekend -- my father is an Army veteran -- and submitted an application for the credit card on Monday afternoon for a CL of $1k. When I checked the status about an hour later, the application was already marked as approved, pending income verification for my wife and I. I sent them pay stubs as .pdf attachments and a helpful rep forwarded them to the correct dept. Now I log in and see the status is DISPURSED, so I should be getting the cards in a few days. Overall, a very smooth process. Their email and phone support seems top notch. I'm going to be using this card for everyday spending and paying in full each month, so the interest rate they give me shouldn't matter.

Has anyone had any experience getting and paying eBills from PenFed? I use Fidelity Bill Pay (CheckFree). Thanks!

Just had a bad experience on a $10 dispute with PFCU visa card. The item was dead on opening. Bought from Fry’s and they refused to take it back after 30 days.

The 1st weird thing is, PFCU refused to put a temporary credit in my account after I disputed it, pending “investigation”. They claimed “no other cards do this”.

Then they said I can’t dispute it because whatever Fry’s said no return/exchange after 30 days is a binding contract that everybody has to follow.

tomprc said: Just had a bad experience on a $10 dispute with PFCU visa card. The item was dead on opening. Bought from Fry’s and they refused to take it back after 30 days.

Fry's and PFCU are both correct. Why would you think you should be able to dispute the purchase?

c3 said: tomprc said: Just had a bad experience on a $10 dispute with PFCU visa card. The item was dead on opening. Bought from Fry’s and they refused to take it back after 30 days.

Fry's and PFCU are both correct. Why would you think you should be able to dispute the purchase?


It's not about right or wrong. But good or bad. Some other cards, AMEX at least, are much better on the similar issues.

So..if it was dead on opening, why did it take you over 30 days to figure this out and return it?

tomprc said: It's not about right or wrong. But good or bad. Some other cards, AMEX at least, are much better on the similar issues.

Since you're obviously wrong, the PFCU CSR provided good service to the rest of us by refusing your dispute.

tomprc said: Just had a bad experience on a $10 dispute with PFCU visa card. The item was dead on opening. Bought from Fry’s and they refused to take it back after 30 days.

The 1st weird thing is, PFCU refused to put a temporary credit in my account after I disputed it, pending “investigation”. They claimed “no other cards do this”.

Then they said I can’t dispute it because whatever Fry’s said no return/exchange after 30 days is a binding contract that everybody has to follow.

Does the card offer purchase protection or warranty extension?

slc39 said: So..if it was dead on opening, why did it take you over 30 days to figure this out and return it?

because it's a christmas gift. many stores offer holiday extended return period, fry's doesn't. many stores offer exchange after the return period, fry's doesn't. many stores have great CS and polite CSRs, fry's does't. again, it's not about right or wrong. it's about a good store vs a bad store. some people are unable to tell the differece.

Question on Penfed cards... since I just opened my account and got a hard pull, do they do another one if I apply for a card in the next week?

Gee, as an eBay buyer, I am able to return/dispute the purchase within 45 days with paypal, no matter what the auction states (e.g. no returns). PFCU only allow 30 days?

VerbalK said: Question on Penfed cards... since I just opened my account and got a hard pull, do they do another one if I apply for a card in the next week?

According to a CSR (when I asked them about a CLI during my application), they generally don't pull a second report if it's within 30 days, but you may want to check just to be sure.

I have a few questions: How soon do transactions post to their website? Also, is anyone using eBill (powered by CheckFree) with this account? Thanks!

Anybody with Chase bank account. Can you use your Chase Bill Pay to automatically pay full account balance on the PenFed credit card?

olliebg said: I have a few questions: How soon do transactions post to their website? Also, is anyone using eBill (powered by CheckFree) with this account? Thanks!From experience, I can confirm eBills via USAA Bill Pay (which uses CheckFree) work fine with the PenFed card. Also, transactions post daily to the PenFed site, not in real time.

If I open a credit card through them and put the minimum in a checking account, since they require it. I would just leave that minimum in the checking acccount. Do they charge any fees due to innactivity of the checking account?

I applied for the card after being rejected (had lots of 0% money outstanding), and after income verification was given the requested line of 25k. I like that I can receive my bills electronically and pay them through Bank of America. I hope that continues to let me pay credit cards without charging me fees for cash equivalent transactions after their amended terms go into effect mid April.

I like earning Cash Back. ALMOST bought my computer with it, but figured the extended warranty on AMEX was worth giving up the cash. Really ought to change my blue rewards to a blue cash card.

olliebg said: olliebg said: I have a few questions: How soon do transactions post to their website? Also, is anyone using eBill (powered by CheckFree) with this account? Thanks!From experience, I can confirm eBills via USAA Bill Pay (which uses CheckFree) work fine with the PenFed card. Also, transactions post daily to the PenFed site, not in real time.

I charged a couple of thousand on my new penfed card and while the remaining credit available reflects this in the summary, when I actually click on the account number to see the individual transactions, it shows up blank....... (it's been a few days since the purchases). Is this normal? My citi card doesn't update real time, but at least I can check on my latest purchases every other day or so.

Edit: I see the transactions now

Penfed Visa Platinum Gas Cash Reward
Earn 2% Cash Back on supermarket purchases*

*Certain restrictions may apply. Visa USA determines which stores are categorized as a supermarket.

Wow, I didn't realize the 2% hadn't been brought up in this thread yet. I first noticed it on my Jan statement and I guess I just assumed it had been mentioned here already. Oops.

asdf9876 said: elph31337 said: 5 points per dollar is no longer 5%... it costs 6000 points for a $50 card instead of 5000.

Except most of us on this forum are patient enough to wait until 10000 points for $100 rather than blowing our points at 6000. I still consider it 5%.


Yeah, that would be great if they didn't keep discontinuing the $100 option for different stores. Target was my first choice, but no more of those. Then Home Depot, but now that's gone too. No more $100 option at Best Buy. I'm pretty sure there used to be a Circuit City too, but I don't see those in any denomination anymore. The only $100 option even remotely interesting anymore is Sears, but I don't shop there that often.

In short, I don't consider those to be true 5% anymore, and Penfed's rewards are a lot more appealing

I need to raise my credit limit on my Penfed cash reward card. How hard is it to do this with Pedfed? Can you request this online or do you have to call? All the gave me was $800 line when I got it a few years ago which is not nearly enough!

eh82 said: I need to raise my credit limit on my Penfed cash reward card. How hard is it to do this with Pedfed? Can you request this online or do you have to call? All the gave me was $800 line when I got it a few years ago which is not nearly enough!

Just call and ask for an increase. In most cases, the CSR's can do it themselves without having to talk to an underwriter, if you've been a customer with them for some length of time.

They now have 2.99% balance transfer rate for the life of the loan. 1% balance transfer fee, max $100. Limited time offer.

ecjjones said: They now have 2.99% balance transfer rate for the life of the loan. 1% balance transfer fee, max $100. Limited time offer.
Now to figure out if the $100 transfer fee makes it impractical to transfer a car loan to the card...

ecjjones said: They now have 2.99% balance transfer rate for the life of the loan. 1% balance transfer fee, max $100. Limited time offer.

Very, VERY awesome - just got this in my inbox!!!

ecjjones said: They now have 2.99% balance transfer rate for the life of the loan. 1% balance transfer fee, max $100. Limited time offer.

Could be good for a lower rate mortgage...

Terms:
Balance transfers will have an Annual Percentage Rate of 2.99%; monthly periodic rate of .249%. This rate shall remain in effect on the transferred balance(s) until it is paid in full. A balance transfer fee of 1% (minimum $10 - maximum $100) applies to this promotional rate transaction. Payments will be applied to the account balance in the order determined by Pentagon Federal Credit Union in its sole discretion. The regular APR applicable for purchases or cash advances (revolving balances) and the APR for prior promotional balances remains unchanged. Balance transfers are treated as cash advances, therefore there is no grace period and finance charges accrue from the date the transfer is posted to your account. Balance transfers of other Pentagon Federal Credit Union loans are not eligible for this promotion. If you are in default at any time the 2.99% APR will revert to the regular APR applicable for your account. This promotion is subject to change or termination at any time and without prior notice. Credit card rates for purchases: Visa Platinum Gas Cash Rewards-13.99% APR;Visa Gold-10.99% APR; Visa Classic-13.99% APR; MasterCard-13.99% APR.


Need some extra cash?
Want to take advantage of your available credit?

Now, you can transfer the available funds from your Pentagon Federal Credit Card to your PenFed Online accounts. You can even have a check sent to your home address, to use for whatever you need!

Your available credit is just a few clicks away:
-From the Main Menu, scroll down and click on the link to view your Credit Card and ELOC accounts.
-Click on the radio button labeled Transfer From, located next to your Credit Card Details.
-Click on the radio button labeled Transfer To, located next to your PenFed Online Share or Checking account
-Click on the button labeled Transfer.

Enter the dollar amount you wish to transfer, and you're done!
Want a check sent to you? Transfer the funds to your share account, then select Check Withdrawal on the Main Menu Screen. It's as simple as that!
My new PenFed CC from few weeks ago doesnt have the "transfer from" button online so I cant see if the rate applies to BTing into the share account and then requesting a check

"Payments will be applied to the account balance in the order determined by Pentagon Federal Credit Union in its sole discretion."

Ok, so they can essentially charge you the high APR for any additional balance you carry (i.e. purchases). It may be worth stopping use of this card though except for the BT balance if you can get one large enough. $100 fee isn't much.

I submitted a BT request by snail mail almost two weeks ago (for 5.99%). It went through this morning at the 2.99% rate. Maybe I should use the post office more often...

Applied yesterday. Will use this as my #1 cc and keep my other one as a backup.
$50 for every $1000 I spend on gas - I'd have to spend $6000 to get that with citi!

Just applied this morning and got instant approval for 20K (753 FICO) for myself with my wife as an additional card holder. Interestingly enough, on the page where it verifies your eligibility to join, I was going to use a family member and put in their phone #, but I got distracted for a bit and just clicked continue when I got back and it let me continue!?! My account shows "APPROVED" status, but I guess I'll wait and see what happens on Monday.

eh82 said: I need to raise my credit limit on my Penfed cash reward card. How hard is it to do this with Pedfed? Can you request this online or do you have to call? All the gave me was $800 line when I got it a few years ago which is not nearly enough!

You can ask for a credit increase online. To do so first you have to go to apply for loan, and then select credit card, then select to increase credit on an existing card.

I tried just the other day to increase mine from 20K to 25K and was denied due to "excessive obligations in relation to income (overextended). sufficiently obligated with unsecured indebtedness."

They also did a hard inquiry on Equifax.

I joined PenFed and although they say it just takes $5 to open the account - if you don't have at least $500 in the account you are subject to fees.

Also, I joined, but I guess I need to fill out an app to get the credit card now that I am a member? I thought joining PenFed also meant that you were applying for the card. Am I wrong? Sending in my signature card today.

TxAggieJen said: I joined PenFed and although they say it just takes $5 to open the account - if you don't have at least $500 in the account you are subject to fees.

$500 is for the checking account only. There are better alternatives if you need a checking account.

c3 said: TxAggieJen said: I joined PenFed and although they say it just takes $5 to open the account - if you don't have at least $500 in the account you are subject to fees.

$500 is for the checking account only. There are better alternatives if you need a checking account.



Oh. I chose Credit Card when I signed up with PenFed. What was the signature card for if it wasn't for the checking account? I'm confused. lol

Edit: Nevermind. I called them and apparently I goofed. I didn't fill out the credit card app after doing the PenFed app. And the signature card is for the basic savings account. Duh..

I got a BT offer from Chase for 0% for limited time or 2.99% for life of the balance but with no cap on BT fees. Now that Penfed is also offering it if i should go with penfed or chase. I already have a chase card but i have to apply for penfed (i am a long time member though). What you guys think, is it worth a pull for this difference.

Another thing i like about chase is they said they can simply transfer money to my checking account and i can use it anyway i want. Is it the same with penfed too?



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