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PugRanch said: Can anyone tell me if diesel purchases at the pump earn 5% rewards? Thanks!
Yes

cyberkost said: My credit card application status switched from "PENDING" to "TURNED DOWN" ... that's with six digit HHI (they've seen it documented), FAKOs around 800, and everything paid in full each month. First round of talking to the CSR got me nowhere except finding out that the reason was too much of available credit (about $300K) and that they would recommend me to get it down to about $100K. Did anyone successfully deal with a situation like that? If so, what were the steps? I'm thinking of "hey guys, if you're so concerned, how about me opening a deposit account with $20K balance and you approving me for a $20K CL?"

Rejected here asking for $500 limit. I have pretty similar numbers as you, so the low limit strategy apparently is a FAIL. I don't particularly want to do a bunch of balance transfers just to get a new 5% gas card because the most convient gas station by me decided not to take AMEX anymore.

I sent them a fax presenting a logical argument that if anything, it is safer to extend a credit line to somebody who has a lot of (unutilized) credit (all other things being equal). That, together with the explanation that my request of $50K CL was nothing else but confidence in my credit profile (and that I'd be interested in getting the card even if the CL is substantially lower) made them review the app again. It's still pending ... I don't have illusions, it's still more likely to be denied than approved, but I'm going to give them a call (if I get a chance) to see where we're in the movie ...

I just funded my shared account using a credit card for $5. Did I just do a cash advance? How much damage in fees did I incur. Do I need to keep a minimum in the shared account?

I just called PenFed. As of 6 months ago.. the funding of the account is now consider a purchase and no longer a cash advance!

In addition to the $20 membership fee I also funded $20 into my membership account about a month ago. My Chase Freedom card counted the entire $40 transaction as a purchse.

So I am reading through the fee schedule of the Regular Shared Account. Correct me if I am wrong, do I need a minimum of $500 or direct deposit to avoid the monthly service fee?

As of right now I only have $5 in there.

fatlard said: So I am reading through the fee schedule of the Regular Shared Account. Correct me if I am wrong, do I need a minimum of $500 or direct deposit to avoid the monthly service fee?

As of right now I only have $5 in there.


Where did you get this? I didn't get any notice in the mail, did you?

fatlard said: So I am reading through the fee schedule of the Regular Shared Account. Correct me if I am wrong, do I need a minimum of $500 or direct deposit to avoid the monthly service fee?

As of right now I only have $5 in there.


As far as I know this is for the checking account not the savings.

howie888 said: fatlard said: So I am reading through the fee schedule of the Regular Shared Account. Correct me if I am wrong, do I need a minimum of $500 or direct deposit to avoid the monthly service fee?

As of right now I only have $5 in there.


Where did you get this? I didn't get any notice in the mail, did you?


Yes I did get a notice on the in the mail.

It is also listed on their website

https://www.penfed.org/productsAndRates/serviceFees.asp

fatlard said: howie888 said: fatlard said: So I am reading through the fee schedule of the Regular Shared Account. Correct me if I am wrong, do I need a minimum of $500 or direct deposit to avoid the monthly service fee?

As of right now I only have $5 in there.


Where did you get this? I didn't get any notice in the mail, did you?


Yes I did get a notice on the in the mail.

It is also listed on their website

https://www.penfed.org/productsAndRates/serviceFees.asp


The service fee is clearly listed under "Checking Account Services"

or if you want to have the monthly statements mailed

cyberkost said: I sent them a fax presenting a logical argument that if anything, it is safer to extend a credit line to somebody who has a lot of (unutilized) credit (all other things being equal). That, together with the explanation that my request of $50K CL was nothing else but confidence in my credit profile (and that I'd be interested in getting the card even if the CL is substantially lower) made them review the app again. It's still pending ... I don't have illusions, it's still more likely to be denied than approved, but I'm going to give them a call (if I get a chance) to see where we're in the movie ...

Was reconsidered for $15K CL, but was still denied after re-sending 2008 W-2 and the latest 2 paystubs (these guys did not want to go by my Aug paystubs they requested for the 1st round!) ... Go figure (mid-100K HHI, no mortgage, 800 FAKO, no high balances on existing lines)

Didn't Penfed used to offer a travel Platinum Rewards card in addition to the gas card? Went to look it up tonight and it seems to have vanished.

Just applied for the card, asked for a 5K credit limit

How hard is it to get this card? My girlfriend is 21 and has no credit.

KentWang said: How hard is it to get this card? My girlfriend is 21 and has no credit.


Hard, IMHO!

Is there a better card out there for rewards than this? This seems like a good deal.

I can't find the Society of American Military Engineers in the join page, did they take that one out? Thank you!

psychoslowmatic said: fatlard said:
Yes I did get a notice on the in the mail.

It is also listed on their website

https://www.penfed.org/productsAndRates/serviceFees.asp


The service fee is clearly listed under "Checking Account Services"



Regular Share acct:
Available Balance $96
Current Balance $101

why the $5 difference?

yurgreat said:

Regular Share acct:
Available Balance $96
Current Balance $101

why the $5 difference?

You have to keep $5 in the regular share account to be a member.
If you want to close all of your accounts and end your membership, you can have the $5 back.

yurgreat said: psychoslowmatic said: fatlard said:
Yes I did get a notice on the in the mail.

It is also listed on their website

https://www.penfed.org/productsAndRates/serviceFees.asp


The service fee is clearly listed under "Checking Account Services"



Regular Share acct:
Available Balance $96
Current Balance $101

why the $5 difference?


Most credit unions keep $5 in your shares account as a requirement for membership. For example, my other credit union account currently has:

Checking: $376
Shares $5

yurgreat said: psychoslowmatic said: fatlard said:
Yes I did get a notice on the in the mail.

It is also listed on their website

https://www.penfed.org/productsAndRates/serviceFees.asp


The service fee is clearly listed under "Checking Account Services"



Regular Share acct:
Available Balance $96
Current Balance $101

why the $5 difference?


Edit: Never mind, answered above. No internet for me until after coffee!

watssion said: I can't find the Society of American Military Engineers in the join page, did they take that one out? Thank you!

I think this is it: https://membership.same.org/cgi-bin/memberdll.dll/OpenPage?Respo...

i'm thinking about joining as a student too. this penfed card looks like the best Cash Back going right now.

Delete...

Not sure if this has been posted if not plz add this to the top post:

Effective Feb 1 2010 All other net purchases (all but gas and groceries) receive 1% including fuel purchases for airplanes and boats.

This is down from 1.25%

Whattttt....

lfsbu said: Not sure if this has been posted if not plz add this to the top post:

Effective Feb 1 2010 All other net purchases (all but gas and groceries) receive 1% including fuel purchases for airplanes and boats.

This is down from 1.25%


See http://www.fatwallet.com/forums/finance/974495/

This past October, Penfed closed my credit account because of "unauthorized access of a third party processorís transaction information". No big deal, as I was issued a new card with the same limit.

This month, I got a letter from FIA reducing one of my lines and closing another, noting my credit limits to my income and indebtedness.

Today, I checked my credit report and found that it lists both Penfed accounts as open. This makes my credit limits look 20k higher than they actually are. Plus, it shows the balance as the amount when the account was closed. I am going to call Penfed tomorrow to have them fix the problem. I would advise anyone else who was issued a replacement card to check their credit report.

Just applied for a PenFed Account and this credit card. Data Point:

Approved for $17k
25yo, Renter, No dependents, No autos
Salary of 82k
FAKO = 720 (down recently from 755 after closing a Citi Div Plat card with a $10.7k limit)

Thanks all.



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