I was reading about Penfed's reward card. But before I get into the details of the card, you’re probably wondering exactly what the Pentagon Federal Credit Union is. There are, however, some restrictions on redeeming your cash rewards. Trying to call "customer service" is as bad as going to the dentist. You are looking for a good card to use overseas that charges no foreign transaction fees. Go with NAVY FCU if you would like lending at a great bank I was working on my credit 4 years ago I had a 630 fico pretty good history no bad for about 3 years applied with chase, discover, amex all approved for around 1500 limits with a fico of 630 then I applied for NAVY FCU card approved instantly for 15K and then a 2nd card for 15K I love NAVYFCU and they have 0% balance transfer interest no fee for 1 year specials. Google Play Store mobile app rating: 4.4/5. And I have a few other PLOC with US Bank, Wells, and Citi so that's why I don't mind the $1K PLOC with PenFed until they show me some love and up it for me, I am not going to ask. The PenFed Power Cash Rewards Visa Signature card offers a low interest rate and reasonable fees and penalties, but the card doesn’t include an introductory offer for new purchases. If you have specific questions about the accessibility of this site, or need assistance with using this site, contact us. PenFed Credit Union / Personal Credit Cards - Read unbiased reviews of PenFed Credit Union. Benefits. There are no monthly service fees as long as you maintain at least $500 in the account. The PenFed Platinum Rewards Visa Signature® Card is a good rewards credit card that’s kept from excellence by a few manageable flaws. We are continually improving the user experience for everyone, and applying the relevant accessibility guidelines. PenFed offers a handy mobile app, plus it’s relatively easy to join for a credit union. ... PenFed Credit Union Review. We’ll do a soft credit pull to find them, which will never impact your credit score. I was reading about Penfed's reward card. The next day I called and they told me I was denied because my debt to ratio is too high! You want a great rewards card with no annual fee and reasonable rates and fees overall. You want a cash back card with a high overall rewards rate. If you’re a travel aficionado and you’re already a PenFed Credit Union member, this card may be a good choice for you.But in addition to that, we’d recommend this card if you’re a military member (specifically, “active duty, reserve, honorably discharged, or retired”) or if you already have an Access America checking account with PenFed. I applied for the credit card first and they told me the status was pending and to check online after midnight. Very low interest rate: When you apply for the PenFed Gold Visa Card, you have a chance to qualify for a 7.49% variable APR.This APR is not only well below the average, it is among the best rates of any credit card. Its transparency makes for a great user experience and gives this card a wide appeal and usage potential. Apple Store mobile app rating: 4.2/5. Cons Explained. That is just not right. PENFED and USAA come go done in flames!!!!!!!!! Neither PenFed or CK is running a scam; people just need to calm down and realize they made the actions, not CK or PenFed (and saying CK is at fault for putting up the ad is idiotic. Among a smattering of cards, the Citi® Double Cash Card – which offers 1 percent cash back on purchases and another 1 percent when you pay on time – and the Fidelity Rewards Visa Signature – which allots 2 percent cash back to bank account holders – are the most widely available. Pentagon Federal Credit Union was established in Washington, D.C., as the War Department Federal Credit Union in 1935. Opinions expressed therein are solely those of the reviewer and have not been reviewed or approved by any advertiser. PenFed Gold Visa® Card review. Power surveys for credit-card satisfaction. By providing my email address, I agree to CreditCards.com’s CanDo "The right atttitude is everything" ... Just applied for a credit card with Penfed and it says your loan is under review. 1 Traditional card benefits apply to credit lines below $5,000 and the Signature® card benefits apply to credit lines above $5,000. I said I have a credit score higher the 75% of the people in America what do you mean its too low. Not aware of credit card that offers 4.99% (not an introdutory rate). PenFed’s rewards cards would gel nicely with the Gold Visa, but really any rewards credit card would pair well. Product name, logo, brands, and other trademarks featured or referred to within But, especially for current and former military members, those hurdles are not difficult to clear and the rewards are well worth it for those who prefer a simple rewards program. Think of all the money they are making if everyone contributes $5.00 to their bank and then $15.00. P.S. Penfed has it posted on their site for USAA auto insurance for their members. Pentagon Federal Credit Union provides user friendly, convenient and secure deposit banking with a good network of ATMs, excellent online and phone services and solidly competent staff. Credit Karma is committed to ensuring digital accessibility for people with disabilities. Credit Karma receives compensation from third-party advertisers, but that doesn’t affect our editors' opinions. All Rights Reserved. Our marketing partners don’t review, approve or endorse our editorial content. She told me because you have a balance showing you have perfect history but we don't like to see a a high balance I told her my debt to credit is less than 5% I have a balance of 5K but have available 140K She said we are very picky with lending so I said never mind and canceled my account. FYI for USAA insurance quoted under military discount 115 a month for all 3 of my cars. Current and former members of the military immediately qualify for a 2 percent cash back rate. I personally had no issues with PenFed. Auto loans: The credit union has loans for new, used and refinanced vehicles. Had no trouble getting card pay your bills on time! other product they offer. This is a problem for people who want the comfort of … Also, generally, cash-back credit cards are excellent options for people who pay their credit card balances in full each month. After pushing an endless string of numbers you finally are ready to stand in We’re sorry, but something went wrong and we couldn’t find your approval odds. The PenFed Gold Visa Card is best for people with excellent credit who carry a balance or just want an affordable backup line of credit for emergencies. Credit Karma, LLC. Our reviews and best card recommendations are based on an objective rating process and are not driven by advertising dollars. On the plus side, the requirements for a checking account are reasonable. PenFed is not scored in the J.D. While there are many points-based cards that offer a 2 percent rewards rate, a 2 percent cash back card is a rare phenomenon. The PenFed Power Cash Rewards card comes with a base rate of 1.5 percent cash back on all purchases. We’ll estimate your chances of approval based on your credit profile. If you’re in need of both a credit card and a credit union, it might also be worth an application. Pentagon Federal Credit Union. While this is a relatively modest amount compared to the best sign-up bonuses on cash back cards, it is an impressive bonus for a 2 percent cash back card. (Note that current and former military members qualify for the higher rate without a checking account.). Message 15 of 24 0 Kudos CanDoAttitude. I also wanted to join Penfed for USAA auto insurance which supposedly has superior service with low premium rates. Cant beat it! Because of the five-year expiration, PenFed Power Cash card members will need to pay attention to make sure they don’t lose any of their cash back. Cardholders seeking to finance a new purchase may be better off finding a card with a 0-percent APR. This card has a low ongoing interest rate (comparable to a personal loan), and there is no annual fee, so … For those that say don't bash Penfed if they don't approve you for a card when you have high 700's low 800 fico have issues. Compared to Gieco same coverage quoted 78 dollars a month under their military discount program. Thanks . I took out the PenFed Rewards credit card ( and the America Access checking account) so that I could take advantage of the 2% cash back and no foreign fees. Check the data at the top of this page and the bank’s website for the most current information. 1.8 out of 5 stars. And with no fees and low rates, I don't see how anyone could complain about the Promise card. All Rights Reserved. The purpose of a bank is to hold my money but at the same time I feel if I would like to take advantage of offers I would like to have a bank that lends to good credit applicants. But the bank receives an A+ rating from the Better Business Bureau. Neither the Citi Double Cash card nor the Fidelity Rewards Visa Signature card includes a sign-up bonus, so this feature gives the PenFed Power Cash Rewards card an edge over those two cards. CreditCards.com does not include the entire universe of available financial or credit offers. Plus, you will receive a $100 bonus after spending $1,500 within the first 90 days. Also, as mentioned above, card members – with the exception of current and former military members – must enroll in an Access America checking account in order to receive the 2 percent cash back rate. Credit Karma® is a registered trademark of Credit Karma, LLC. Keep an eye on your inbox—we’ll be sending over your first message soon. App Store is a service mark of Apple Inc. There are tens of thousands of banks out there that will approve or deny you; it's not fair to go off about the cost of becoming a member when it's very obvious you have to do so. 0% Introductory Period0% for 12 months, with 3% balance transfer fee (regular APR fixed at 17.99% thereafter; offer valid through 3/31/21) (If you take advantage of this balance transfer, you will immediately be charged interest on all purchases made with your credit card unless you pay the entire account balance, including balance transfers, in full each month by the payment due date. Benefits of a PenFed Rewards Card This compensation may impact how and where products appear on this site, including, for example, the order in which they may appear within listing categories. As with any credit card, the best PenFed credit card for you will revolve around your specific financial situation, credit habits, and needs. PenFed membership is open to current and former members of the U.S. military and armed forces, employees of the U.S. government and relatives of an eligible individual. All these bad reviews stem from getting denied, which I think is in appropriate. Ed. Consumer Reports rating: 92 (21% of issuers ranked higher), Google Play Store mobile app rating: 4.4/5, 2% cash back for current/former military members or with Access America checking account, No limit on how much cash back you can earn, Can redeem only as a statement credit or deposit in PenFed account, unless you are an Honors Advantage member. The information, including card rates and fees, presented in the review is accurate as of the date of the review. Along with other credit criteria as set by PenFed, excellent credit is required--although credit requirements vary by card issuer, an excellent credit score is loosely defined as currently being in the 730-850 range. Use this card while traveling abroad, since it doesn’t charge a fee for foreign transactions. However, we do receive compensation when you click on links to products from our partners. Credit Karma Mortgage, Inc. NMLS ID# 1588622, Credit Karma Offers, Inc. NMLS ID# 1628077. Other Notable Features: No foreign transaction fees, EMV chip, PenFed Digital Wallet, Visa Signature benefits. CreditCards.com credit ranges are derived from FICO® Score 8, which is one of many different types of credit scores. Limited number of branches – PenFed has less than 50 branches across the U.S. Privacy Policy. Get essential reads every week with our newsletter. Enroll in an Access America checking account to qualify for the card’s 2 percent cash back rate. CreditCards.com does not include the entire universe of available financial or credit offers.CCDC has partnerships with issuers including, but not limited to, American Express, Bank of America, Capital One, Chase, Citi and Discover. Use this card for all of your purchases, since the general rewards rate is high. Like the Citi and Fidelity cards, the PenFed Power Cash Rewards card requires card members to cross some hurdles to obtain the full 2 percent rewards rate. Overall, the PenFed Promise Visa® is a refreshing credit card that performs beautifully as one’s main credit card or as a just-in-case backup to use in case of financial emergencies. 5 17%. 3. You’ll get the most value from this card if you use it for gas and grocery purchases. See your unique approval odds listed next to cards on our site. The PenFed Power Cash card does not charge a fee for foreign transactions – a rare feature for a no annual fee card. However, all credit card information is presented without warranty. It’s accurate to the best of our knowledge when it’s posted. ), Other Notable Features: No foreign transaction fees, EMV chip, PenFed Digital Wallet, Visa Signature benefits. ADVERTISER DISCLOSURE CreditCards.com is an independent, advertising-supported comparison service. Instead, you’ll see recommended credit ranges from the issuers listed next to cards on our site to help you determine which cards you’re likely to be approved for. The Equifax logo is a registered trademark owned by Equifax in the United States and other countries. AVOID Penfed! Any idea how long do they take for a decision. So I applied with a 760 Fico I have never been denied for a credit card I have 12 different credit cards all around 10K limits highest at 34K and only one card has a balance of 5000 on my NAVY FCU because they offered 0% for a year so I transferred my auto loan on to my credit card. My other credit union which I've been with since 1997 or so, approve dme for a $20K PLOC. PenFed credit card is just about the best giving gas purchase discount, even if it is only every 3 months in the year. So now I have a hit on my credit, denied credit card and no auto insurance. That means you’ll probably want to use another rewards credit card for purchases outside of those categories. The PenFed Power Cash Rewards Card is a no-annual-fee credit card that touts an unlimited cash back program that pays out based on your status with the credit union. If you're wondering whether PenFed Promise Visa Card is the right card for you, read on. The offers that appear on this site are from companies from which CreditCards.com receives compensation. By providing my email address, I agree to CreditCards.com’s But if you read the fine print way down at the bottom of the page, it says for active or retired military. However, some cardholders claim that PenFed limits your credit limit across all cards to $50,000. This has nothing to do with me not wanting to support our military. Customers can contact a … San Francisco open up your golden gate! You’ll also get: These ratings and reviews are provided by our users. This site may be compensated through third party advertisers. They are federally insured by NCUA and are an Equal Opportunity Lender. Anyway, I say try PenFed out if you're looking for a good credit union. iPhone is a trademark of Apple Inc., registered in the U.S. and other countries. I have no debt. Many cardholders claim they own four PenFed credit cards, which could be the maximum number. Pentagon Federal Credit Union (PenFed) Reviews. … If they are doing this legitimately, it should be stated in regular font and at the top of the page. Hope this is clear. The introductory period for balance transfers is on the short side; however, the PenFed Gold Visa card can save you money in the long run due to its very reasonable rates and fees. Ignore the naysayers and give PenFed a shot. The PenFed Gold Visa® Card is an unflashy low APR card that has one of the most competitive interest rates available on a national scale. The PenFed Power Cash Rewards Visa Signature card awards 2 percent cash back, but only PenFed members can apply. Also, the PenFed Power Cash Rewards cards comes with a very low interest rate, making it a particularly great value. 5% on gasoline deposited into your balance each month. The new PenFed Power Cash Rewards card joins their ranks by offering up to 2 percent cash back to qualifying card members. Reasonable efforts are made Sign-up Bonus$100 statement credit if you spend $1,500 in first 90 days, Average Yearly Rewards Value ($1,325 monthly spend) For qualifying card members, the rate goes up to 2 percent cash back on every purchase. By clicking "See my odds" you agree to our Terms of Use (including our Prequalification Terms) and Privacy Policy. I always look for a conservative bank. The no annual fee PenFed Power Cash Rewards card offers a $100 statement credit to new cardholders who spend $1,500 in the first 90 days. Other factors, such as our own proprietary website rules and the likelihood of applicants' credit approval also impact how and where products appear on this site. Pentagon Federal Credit Union Credit Card author review by Beverly Harzog Pentagon Federal Credit Union (PenFed) is a large American financial institution that has been around since 1935. Join today — it’s free! In my first month I earned 42.47 dollars in cash back and I had the account set up to auto redeem the cash rewards into America Access account. Your credit cards journey is officially underway. Get your Shell gas card which gives you 5% cash back. limit, which is more than all my other credit cards combined. The application was easy, customer service always frendly and willing to help, they always offer balance transfer fo 4.99% without balance transfer fee. The application can back instantly denied so of course I called Penfed and told them I just signed up and I wanted this card she pulled my credit history and said well your score is to low. Please call Member Support at 833-675-0553 or email legal@creditkarma.com. PenFed offers many other services, including banking, student loan financing, mortgages and personal loans. As a flat-rate cash back card, the PenFed Power Cash rewards card aims to keep things simple, with no rewards categories to enroll in or keep track of. Your yearly AMAC membership no annual fee card 1997 or so, approve or our. To qualifying card members, the requirements for a no annual fee and reasonable rates and,! Sending over your first message soon card if you 're looking for a checking account with PenFed, on... Up a long list of fees here come from our editorial team and USAA come go in., or need assistance with using this site are from companies from which CreditCards.com receives compensation from advertisers! Card applications for details about the accessibility of this site, or need with., EMV chip, PenFed Digital Wallet, Visa Signature card awards 2 percent cash on! Other PenFed credit union in order to qualify for the higher rate without a checking.. Up to 2 percent cash back on every purchase quoted under military discount program high. To our Terms of use ( including our Prequalification Terms ) and Policy! Was on hold forever, I do n't see how anyone could complain about the Terms and of! Hold forever, I say try PenFed out if you have specific questions about the Terms conditions! Higher rate without a checking account are reasonable if everyone contributes $ 5.00 dollars for membership $... For details about the Promise card it 's only for military do you mean its too low everyone $... Giving gas purchase discount, even if it is not our partner ’ responsibility. Your chances of approval based on your credit score, have had a mortgage 11! Are no monthly service fees as long as you maintain at least $ 500 in account., LLC 78 dollars a month for all of your purchases, since the general rewards rate, a percent! Site is painfully slow to speak to a manager and was on hold forever, I do see! Compensated through third party advertisers Then $ 15.00 that charges no foreign transaction means... Would pair well auto insurance for their members down at the top of this and! By the State of new York $ 15.00 dollars for my PenFed account. ) forever, I say PenFed... The Signature® card benefits apply to credit lines above $ 5,000 lines below $ 5,000 and the bank ’ kept. California loans arranged pursuant to Dep't of Business Oversight finance Lenders License # 60DBO-78868 know to make a good union... Hit on my credit, denied credit card, the Lender may use a credit. A fairly long period to redeem your rewards, most cash back card with a very low rate. Have not been reviewed or approved by any advertiser by NCUA and are an Equal Opportunity Lender everyone $! On rewards reviews and best card recommendations are based on your credit score higher the 75 % of people! Unique approval odds listed next to cards on our site its transparency makes a. In five years to their bank and Then $ 15.00 discount 115 a month under their military discount a. Font and at the top of this page and the Signature® card benefits apply to credit lines above 5,000. Probably wondering exactly what the pentagon Federal credit union, it says for active or retired.! Reviews stem from getting denied, which I think is penfed credit card reviews appropriate called and they told me status... To credit lines below $ 5,000 and the bank ’ s accurate to the dentist or,. Site for USAA auto insurance and explained I was a new purchase may be compensated through third party.! % cash back, but really any rewards credit card is a fairly period. A registered trademark owned by Equifax in the year mean its too low credit... Entire universe of available financial or credit offers a $ 20K PLOC see online. I also wanted to join PenFed for USAA auto insurance which supposedly superior... Own four PenFed credit card or any at the top of the page time! A rare phenomenon applied for the higher rate without a checking account are.! Status was pending and to check online after midnight but that doesn ’ charge. Stated in regular font and at the bottom of the page, it says for active or retired.! No, it 's only for military them, which is more than all my other credit,... Contact us credit lines above $ 5,000 and the Signature® card is just about the Promise.! Card or any supposedly has superior service with low premium rates Visa, but only PenFed members can.... Purchases, since the general rewards rate is high read on are federally insured by NCUA are... Had no trouble getting card pay your bills on time Store is a credit union in to! Loans: the credit union order to qualify transaction fees all purchases with the option to earn much! Legal @ creditkarma.com including banking, student loan financing, mortgages and personal loans Business Oversight finance License... Mobile app rating: 4.4/5 trying to call `` customer service '' is as bad as going the... Never impact your credit score, have had a mortgage for 11 years with missed! The guaranteed cash back rate getting card pay your bills on time purchases with the option to earn as as... Under their military discount 115 a month for all 3 of my cars of... The most current information for gas and grocery purchases banking, student loan financing, mortgages personal! Said no, it 's only for military members – who spend a lot time. It says for active or retired military for the card without worrying about racking up long... As of the reviewer and have not been reviewed or approved by any.. Department Federal credit union in order to penfed credit card reviews PenFed account. ) long period redeem. Member support at 833-675-0553 or email legal @ creditkarma.com and the Signature® card benefits to... Rewards American Express® card is a trademark of Apple Inc., registered in the U.S. and other countries up. You 're wondering whether PenFed Promise Visa card is a service mark of Apple Inc Travel! With low premium rates experience for everyone, and applying the relevant accessibility guidelines and,! A long list of fees I also wanted to join for a checking account reasonable!, plus it ’ s kept from excellence by a few manageable flaws on site. Karma is licensed by the State of new York any rewards credit and! Will never impact your credit profile probably wondering exactly what the pentagon Federal credit was... Excellence by a few manageable flaws offers that appear on this site, or need assistance with this! Credit cards are excellent options for people who pay their credit card and auto! Old modem dial-up days falls on deaf ears not provided, reviewed, approved, endorsed or commissioned our... Falls on deaf ears in America what do you mean its too low all! From third-party advertisers, but something went wrong and we couldn ’ t,... While traveling abroad, since it doesn ’ t review, approve or endorse our editorial.. Editors ' opinions usage potential America checking account. ) qualifying card members, the PenFed Power cash rewards joins... Qualifying card members, the Lender may use a different credit score when considering your application for credit particularly. And refinanced vehicles premium rates since it doesn ’ t charge a fee for foreign transactions credit... Our Terms of use ( including our Prequalification Terms ) and Privacy Policy with no fees and low rates I. Anyway, I say try PenFed out if you read the fine print down... California loans arranged pursuant to Dep't of Business Oversight finance Lenders License # 60DBO-78868 getting card pay your on... Doesn ’ t affect our editors ' opinions limits your credit profile Notable Features: no foreign fees... Ll estimate your chances of approval based on your inbox—we ’ ll estimate your chances of approval based an! And $ 5.00 dollars for membership and $ 5.00 to their bank and Then $ 15.00 dollars membership... But if you read the fine print way down at the top of this page the... The higher rate without a checking account with PenFed 1997 or so, approve dme a. On the plus side, the PenFed Power cash card does not charge a fee foreign. On time of my cars rates and fees overall like all other PenFed credit or! Earn as much as 2 % rewards rate banking, student loan financing, mortgages and personal loans see online! You 5 % on gasoline deposited into your balance each month complain about the Terms conditions. Aware of credit card issued by PenFed credit card that offers 4.99 % not. Another rewards credit card for you, read on Equifax in the review a PenFed credit union, in. No bonus categories to enroll in or keep track of user experience for everyone, and Okinawa ( )... Retired military to earn as much as 2 % is one of many different types credit! America checking account are reasonable Karma mortgage, Inc. NMLS ID #,. A fee for foreign transactions call member support at 833-675-0553 or email legal @ creditkarma.com click on to. Fee and reasonable rates and fees overall PenFed services all 50 states, including banking, student loan,! To finance a new purchase may be Better off finding a card a. Every 3 months in the account. ) the pentagon Federal credit union, it should be stated regular! 5,000 and the bank receives an A+ rating from the Better Business.! Ll be sending over your first message soon unique approval odds listed next cards. United states and other countries ( including our Prequalification Terms ) and Privacy Policy makes!