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Frustrated with PenFed, what's your experience with its card security?

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csryang
Frequent Contributor

Frustrated with PenFed, what's your experience with its card security?

I was excited about my 2% cash back Power Cash card with PenFed, but now I am not sure if I want to use this card overseas or as my daily use card. I am likely to have lots of odd charges from one dollar to few thousand dollars. 

 

 

Two things:

1) For the past 3-5 times when I called PenFed's main number, it's been at least 20min wait every single time. Actually 30min wait on average. This is probably the longest wait ever with any CCC's customer service line. Also, their hour is not 24/7. It's just hard for me who reside in the pacific time zone.

2) I got Fraud phone calls twice for the 3 charges (not international charges) I have so far. On a 25k CL card, the first charge was a 2k charge, next two charges were around 500 and 100.

 

 

First phone call 2 days ago I was told it's because of the high transaction amount $2000.

Second phone call this morning I was told that they did routine security call to verify charges and since I did not pick up the phone call, they blocked my card. To my defense, it was a different 1-800 number and I was trying to sleep in this Saturday morning. I then called PenFed's main number, waited for over 20min, then was transferred to the Fraud department (third party company called PSCU). I then failed the security question and was told to call PenFed. As I was about to call PenFed's main number again, I got a call from PSCU, saying that she was just on the phone with me and she could verify my charges now. However, I still need to call PenFed about why I failed security questions. To my defense, I accurately provided the last 4 number of my checking account with PenFed and other identifying information. 

 

On the other hand, I also had couple thousand dolllars of charges on my Chase, Citi and Amex cards as soon as I received them in the past. Never had I received any fraud calls.

 

Maybe PenFed is just not right for my spending pattern? It is my first credit union credit card. Anyone else had similar experience with PenFed, PSCU, or any security team with a credit union? Maybe the security with a credit union credit card is just tigher than the one with a bank?

 

Update:

I got the 3rd fraud phone call for my 5th transaction, which was a declined $20 transaction at CVS. I wanted to do the amazon promo...

I got very frustrated and talked with a supervisor with PSCU. He said he's gonna submit my complaint to the department that takes care of fraud algorithm. Let's see how it goes...

31 REPLIES 31
AverageJoesCredit
Legendary Contributor

Re: Frustrated with PenFed, what's your experience with its card security?

If it ends up being that security concious, you may just have to go with what works for you. You probably dont have the time to be constantly taking fraud phone calls each time you use your card. In the end its for your security but i completely understand how you feel. Interesting to see others experiencesSmiley Wink
Message 2 of 32
UpperNwGuy
Valued Contributor

Re: Frustrated with PenFed, what's your experience with its card security?

I think it is because you are new to PenFed.  I've been with them for 24 years, and I never have this kind of problem.  They know me and my spending habits, so I never get called about credit card fraud (except for the time I ordered a fountain pen from a store in Singapore, or the time Crate and Barrel manually keyed in my card number when their swipe machine wasn't working).  I will agree that their customer service line has long waits, and they should fix that.

Daily Carry: PenFed Power Cash • NFCU Flagship • NFCU More Rewards • Chase Freedom
Sock Drawer: PenFed Promise • NFCU cashRewards • Chase Sapphire Preferred • Chase Freedom Unlimited • United Explorer • UNFCU Azure
Message 3 of 32
Anonymous
Not applicable

Re: Frustrated with PenFed, what's your experience with its card security?

I just got my Power Cash on Tuesday, immediately after activation, I charged $1500 of principal payment through TIO to PNC mortgage to fulfill my bonus spending requirement, not a peep from PenFed.  That said, I have had quite a few 30min+ holds on the phone through my first 2 weeks of dealing with them, 20 mins is probably the average.
Message 4 of 32
csryang
Frequent Contributor

Re: Frustrated with PenFed, what's your experience with its card security?


@UpperNwGuy wrote:

I think it is because you are new to PenFed.  I've been with them for 24 years, and I never have this kind of problem.  They know me and my spending habits, so I never get called about credit card fraud (except for the time I ordered a fountain pen from a store in Singapore, or the time Crate and Barrel manually keyed in my card number when their swipe machine wasn't working).  I will agree that their customer service line has long waits, and they should fix that.


Thanks! I wish I can be like your position, not having to worry about fraud calling me one day...


@Anonymous wrote:
I just got my Power Cash on Tuesday, immediately after activation, I charged $1500 of principal payment through TIO to PNC mortgage to fulfill my bonus spending requirement, not a peep from PenFed.  That said, I have had quite a few 30min+ holds on the phone through my first 2 weeks of dealing with them, 20 mins is probably the average.

Yeah I wanted to fullfill bonus requirement as well so I typicaly have large charges earlier.  Nice to hear that your did not have to deal with fraud...

I agree 20min is average. I waited "at least 20min." Typically the agent answered call around 30min mark. I mean who has that kind of time? 

Message 5 of 32
Anonymous
Not applicable

Re: Frustrated with PenFed, what's your experience with its card security?

You must have called during peak times. I've never waited for than 8/9 minutes on hold. Call early in the morning or at night. They are great. I went with PayPal for 2% because it's better for my lifestyle but I do have the power rewards card and it's 4.25% for gas is fantastic!
Message 6 of 32
csryang
Frequent Contributor

Re: Frustrated with PenFed, what's your experience with its card security?


@Anonymous wrote:
You must have called during peak times. I've never waited for than 8/9 minutes on hold. Call early in the morning or at night. They are great. I went with PayPal for 2% because it's better for my lifestyle but I do have the power rewards card and it's 4.25% for gas is fantastic!

From being in pacific time zone, I dont know if I can really call early in the morning. And if I call too late at night, they might be closed. It's not convenient at all. 

 

Do you ever have to deal with any calls from fraud department?

Message 7 of 32
UpperNwGuy
Valued Contributor

Re: Frustrated with PenFed, what's your experience with its card security?

I think the 4.25% for gas is the PenFed Platinum Rewards card, not the PenFed Power Cash Rewards card.
Daily Carry: PenFed Power Cash • NFCU Flagship • NFCU More Rewards • Chase Freedom
Sock Drawer: PenFed Promise • NFCU cashRewards • Chase Sapphire Preferred • Chase Freedom Unlimited • United Explorer • UNFCU Azure
Message 8 of 32
manyquestions
Established Contributor

Re: Frustrated with PenFed, what's your experience with its card security?

I have the older Platinum Rewards card and I have never had a fraud alert. Maybe this is an issue specific to the Power Cash Rewards card.

Message 9 of 32
mitchblue
Valued Contributor

Re: Frustrated with PenFed, what's your experience with its card security?

Never got called before but I use my car strickly in the US.. Isn't there a way you can just tell PENFED that you shop internationally so they're aware of your shopping habits? Anyway, I think Fraud alert is great, for all CC's. It seems credit is stolen at an alarming rate these days and I'm glad there is such a thing as a fraud alert department. Maybe change your fraud alerts online?

FICO® 8 Scores 821 FICO® 9 Equifax 826 (Updated 02-7-23)
Message 10 of 32
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