Reply
Regular Contributor
Zar
Posts: 107
Registered: ‎04-23-2008
0

Two PenFed questions: PC and Auto

[ Edited ]

Hello,

 

I wanted to ask two questions to those who have PenFed credit cards and auto loans.

 

1. Is it possible to make a product change from the Promise card to the Cash Rewards card? If so, how is this handled, by phone or by letter?

 

2. About auto loans, is it possible to make payments to the principal balance online (through their website) or do we need to call them to do this?

 

Thank you very much!

 

Zar :smileyhappy:

Regular Contributor
Zar
Posts: 107
Registered: ‎04-23-2008
0

Re: Two PenFed questions

Nobody? Please answer me.

 

Zar :smileyhappy:

Frequent Contributor
ilovelisa
Posts: 415
Registered: ‎12-07-2012
0

Re: Two PenFed questions

I think they will PC Visa cards over the phone.

Frequent Contributor
ilovelisa
Posts: 415
Registered: ‎12-07-2012
0

Re: Two PenFed questions

[ Edited ]

For my PC they closed my Amex, and opened a platinums rewards card and it shows as a new account :smileyfrustrated:. But I guess that is Amex to Visa.

Valued Contributor
chnceit
Posts: 1,524
Registered: ‎08-17-2008
0

Re: Two PenFed questions

Wish I could help you, but I am too new to PenFed. 

 

Reading other posts about PCing; yes you are able to. Just give them a call. 


$100K in Credit
Last Credit Card App: 11/16/13
Established Member
rabell12
Posts: 10
Registered: ‎10-07-2012
0

Re: Two PenFed questions

The regular payment for my PenFed auto loan is an automatic draft from a non-PenFed account. The option to make an out of cycle payment/transfer is available on their website, which also includes a link to get the payoff amount.

Established Contributor
UFGuy2006
Posts: 731
Registered: ‎08-02-2008
0

Re: Two PenFed questions


ilovelisa wrote:

For my PC they closed my Amex, and opened a platinums rewards card and it shows as a new account :smileyfrustrated:. But I guess that is Amex to Visa.


This is the approach for any PC. It will be a closed account and then a new account opened.

FICO: EX: 756 (8/14); TU: 758 (9/14); EQ 732 (8/14)

In My Wallet: Amex X 5 | Barclays X 3 | BOA X 1 | CapOne X 3 | Chase X 2 | Citi X 6 | DCU X 1 | Discover X 1 | Fidelity X 1 | Fifth Third X 1 | PenFed X 1 | PSECU X 1 | Sams Club MC X 1 | Target RedCard X 1 | USAA X 2 | US Bank X 1 | Walmart X 1 | Wells Fargo X 1 = 33 Cards

Holding off apps until the end of the year! Wish me luck!
Frequent Contributor
ilovelisa
Posts: 415
Registered: ‎12-07-2012
0

Re: Two PenFed questions


UFGuy2006 wrote:

ilovelisa wrote:

For my PC they closed my Amex, and opened a platinums rewards card and it shows as a new account :smileyfrustrated:. But I guess that is Amex to Visa.


This is the approach for any PC. It will be a closed account and then a new account opened.


No, if you read my post PenFed Sucks, you will understand what I mean lol

Regular Contributor
Zar
Posts: 107
Registered: ‎04-23-2008
0

Re: Two PenFed questions

[ Edited ]

So if I PC from a Promise Visa to a Cash Rewards Visa, no new accounts are created, right?

 

What about the payments to the principal balance on auto loans, making an additional payments (not the due payment) would be considered a principal payment?

 

Thanks for the replies so far!

 

Zar :smileyhappy:

Valued Contributor
chnceit
Posts: 1,524
Registered: ‎08-17-2008
0

Re: Two PenFed questions

I would call to verify, but it shouldnt be


$100K in Credit
Last Credit Card App: 11/16/13

myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.

>> About myFICO
FICO Score - The Score that matters
Click to Verify - This site chose VeriSign SSL for secure e-commerce and confidential communications.
Fair Isaac Corporation is a BBB Accredited Financial Service in San Rafael, CA
FOLLOW US Social Media Facebook Twitter Pinterest Google+