Linking PenFed Promise to Checking Account

[Veritas]

I was just approved for the PenFed Promise. Is there a way to link the card to my PenFed checking or share account if I ever need to do a no fee cash advance? Or would I have to physically run the card in a bank then transfer the money to PenFed by ACH or wire?

[Anonymous]

You can't link the Penfed Promise to your checking in order to get a no fee cash advance.  You alther alternative is to apply for an ovedraft line of credit linked to your checking account so that you can draw from it if the need be--

[Veritas]

Thank you. I think I'll just have them cancel the Promise approval and apply for the PLOC then.

[Anonymous]

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@Veritas wrote:

Thank you. I think I'll just have them cancel the Promise approval and apply for the PLOC then.

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Don't cancel the Promise.  You can have both and it is a very good card.  Just apply for the PLOC.  Update the thread with results once you apply.

[Veritas]

I don't think I want to keep the Promise. They offered me 10.99% on the APR with an Eq FICO over 800! The current best rate on the card is 8.99%.

[Anonymous]

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@Veritas wrote:

I don't think I want to keep the Promise. They offered me 10.99% on the APR with an Eq FICO over 800! The current best rate on the card is 8.99%.

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I understand but it is solely your decision.  You are aware there are other factors that go into deciding an APR during an application right ? And it is not just a score that decides it?

If you don't mind me asking, how old is your credit file and how much limit was given to you for the Penfed Promise?  What other cards do you have?

[fltireguy]

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@Anonymous wrote:

You can't link the Penfed Promise to your checking in order to get a no fee cash advance.  You alther alternative is to apply for an ovedraft line of credit linked to your checking account so that you can draw from it if the need be--

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Yes-Its-Me - YES you can do a no fee cash advance from Promise into PenFed or outside checking, just do it as a tansfer off of the website or app (see pic)  NO FEE except interest accrues from date of transfer

OP - if you have any quesqions just PM me  

[AverageJoesCredit]

That interest accrueing from the moment you transfer is whats always stopped me from trying this lol.

[fltireguy]

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@AverageJoesCredit wrote:
That interest accrueing from the moment you transfer is whats always stopped me from trying this lol.

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if its short term.. a few days.. its not bad at all

[Veritas]

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@fltireguy wrote:

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@AverageJoesCredit wrote:
That interest accrueing from the moment you transfer is whats always stopped me from trying this lol.

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if its short term.. a few days.. its not bad at all

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Thanks for this information, fltireguy!