6 Month PenFed probation.

[creditwherecreditisdue]

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@Anonymous wrote:

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@Anonymous wrote:

I guess the 6 month hold provision is the minimum time frame.  It may also have something to do with how your credit looked at the time you joined.

My hold provision was removed automatically at 6 months, but I have had a CC the entire time and had excellent credit when I joined....maybe this has something to do with it????

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I've never had a hold ... even right at the beginning.  I think that if you are employed by DOD they do not give you the new member treatment.

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It could be that the new member treatment has changed over time. It seems that members like HTSU and I who have been there a little bit longer never had holds while newer members like txjohn had their restrictions automatically removed at six months. The real test would be your ability to ACH money into your account. I have never heard of anybody who wasn't restricted to $50/day inbound for six months.

[Anonymous]

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@creditwherecreditisdue wrote:

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@Anonymous wrote:

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@Anonymous wrote:

I guess the 6 month hold provision is the minimum time frame.  It may also have something to do with how your credit looked at the time you joined.

My hold provision was removed automatically at 6 months, but I have had a CC the entire time and had excellent credit when I joined....maybe this has something to do with it????

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I've never had a hold ... even right at the beginning.  I think that if you are employed by DOD they do not give you the new member treatment.

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It could be that the new member treatment has changed over time. It seems that members like HTSU and I who have been there a little bit longer never had holds while newer members like txjohn had their restrictions automatically removed at six months. The real test would be your ability to ACH money into your account. I have never heard of anybody who wasn't restricted to $50/day inbound for six months.

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Right from day one my ACH pull limit was $3,000 per day with 100% being available immediately.  Must be a DOD thing.

[haulingthescoreup]

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O6 wrote:

Right from day one my ACH pull limit was $3,000 per day with 100% being available immediately.  Must be a DOD thing.

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That would make sense. They know where to find you if you start getting frisky, I suppose.

[creditwherecreditisdue]

I never tried to ACH money into one of my PenFed accounts so I can't say whether the $50/day restriction every applied to me. How about you HTSU?

[Anonymous]

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@haulingthescoreup wrote:

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@Anonymous wrote:

Right from day one my ACH pull limit was $3,000 per day with 100% being available immediately.  Must be a DOD thing.

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That would make sense. They know where to find you if you start getting frisky, I suppose.

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I figured as much.

Two days after joining I noticed an unsolicited overdraft line of credit and I called to ask.  They seemed to indicate that it was a DOD thing, too.

I applied for a Visa platinum and at first they gave me the "pyramid debt" crock, but when I called to ask -- not recon -- exactly what that meant and what they recommended I do to improve they had me wait a while and then said they could go ahead and approve it for the same limit I had with USAA.

[haulingthescoreup]

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creditwherecreditisdue wrote:
I never tried to ACH money into one of my PenFed accounts so I can't say whether the $50/day restriction every applied to me. How about you HTSU?

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Well, I'm always cautious about this sort of question, because I never know for sure when what I'm doing constitutes ACH actions, lol.

I think I was, though. I don't have any checking or saving (other than the initial share account) with PenFed, and I've always paid online with money from my USAA accounts. Sometimes it was from checking, other times from my money market fund. PenFed isn't listing on my USAA Bill Pay site, so I think that I always paid from the PenFed site, "pulling" the payment in. There was never a hold.

This could be due to two separate possibilities: I joined (2/2008) before the crackdown, or because I'm a federal employee. Not DOD, but federal nonetheless.

Well, there's always the third possibility of sheer dumb luck.

[creditwherecreditisdue]

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@Anonymous wrote:

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@haulingthescoreup wrote:

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@Anonymous wrote:

Right from day one my ACH pull limit was $3,000 per day with 100% being available immediately.  Must be a DOD thing.

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That would make sense. They know where to find you if you start getting frisky, I suppose.

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I figured as much.

Two days after joining I noticed an unsolicited overdraft line of credit and I called to ask.  They seemed to indicate that it was a DOD thing, too.

I applied for a Visa platinum and at first they gave me the "pyramid debt" crock, but when I called to ask -- not recon -- exactly what that meant and what they recommended I do to improve they had me wait a while and then said they could go ahead and approve it for the same limit I had with USAA.

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They "pushed" the OD LOC to me as well without my asking, so it is not a DoD thing. I immediately called and had it closed and expunged from my CBR's. No point in an OD LOC when you have to keep a $500 buffer in the checking account to avoid the monthly fee,

[creditwherecreditisdue]

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haulingthescoreup wrote:

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creditwherecreditisdue wrote:
I never tried to ACH money into one of my PenFed accounts so I can't say whether the $50/day restriction every applied to me. How about you HTSU?

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Well, I'm always cautious about this sort of question, because I never know for sure when what I'm doing constitutes ACH actions, lol.

I think I was, though. I don't have any checking or saving (other than the initial share account) with PenFed, and I've always paid online with money from my USAA accounts. Sometimes it was from checking, other times from my money market fund. PenFed isn't listing on my USAA Bill Pay site, so I think that I always paid from the PenFed site, "pulling" the payment in. There was never a hold.

This could be due to two separate possibilities: I joined (2/2008) before the crackdown, or because I'm a federal employee. Not DOD, but federal nonetheless.

Well, there's always the third possibility of sheer dumb luck.

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ACH transfers of payments never counted for the $50 limit - only ACH transfers into deposit accounts. I've never made one. I mailed my deposits before I opened the checking account and since then I have been using the ATM around the corner for deposits. Very convenient!

[haulingthescoreup]

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O6 wrote:

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@haulingthescoreup wrote:

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@Anonymous wrote:

Right from day one my ACH pull limit was $3,000 per day with 100% being available immediately.  Must be a DOD thing.

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That would make sense. They know where to find you if you start getting frisky, I suppose.

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I figured as much.

Two days after joining I noticed an unsolicited overdraft line of credit and I called to ask.  They seemed to indicate that it was a DOD thing, too.

I applied for a Visa platinum and at first they gave me the "pyramid debt" crock, but when I called to ask -- not recon -- exactly what that meant and what they recommended I do to improve they had me wait a while and then said they could go ahead and approve it for the same limit I had with USAA.

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Makes as much sense as anything. When you think about how they've expanded their categories of membership, from employees of Pentagon FCU to DOD and contractors and then beyond, I can see how they'd have differing abilities to collect.

[haulingthescoreup]

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creditwherecreditisdue wrote:

ACH transfers of payments never counted for the $50 limit - only ACH transfers into deposit accounts. I've never made one. I mailed my deposits before I opened the checking account and since then I have been using the ATM around the corner for deposits. Very convenient!

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OK, that explains it. I have no deposit accounts, so this was never an issue for me.