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Two PenFed questions: PC and Auto

Regular Contributor

Two PenFed questions: PC and Auto

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 Smiley Happy

Message 1 of 12
11 REPLIES
Regular Contributor

Re: Two PenFed questions

Nobody? Please answer me.

 

Zar Smiley Happy

Message 2 of 12
Established Contributor

Re: Two PenFed questions

I think they will PC Visa cards over the phone.

Amex BCE $10,000 | BofA Power Rewards WMC $10,000 | Discover It $10,000 | ICBC Preferred Gold UnionPay $8,000 | Local CU Visa $3,500
Message 3 of 12
Established Contributor

Re: Two PenFed questions

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

Amex BCE $10,000 | BofA Power Rewards WMC $10,000 | Discover It $10,000 | ICBC Preferred Gold UnionPay $8,000 | Local CU Visa $3,500
Message 4 of 12
Valued Contributor

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. 


Last Pulled EQ: 809
Last Credit Card App: 02/05/2016
Last CLI: 02/06/2016
Find Me: Gardening
Message 5 of 12
Established Member

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.

Message 6 of 12
Established Contributor

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 Smiley Frustrated. 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: 740 (1/18); TU: 753 (12/17); EQ 777 (12/17)
Amex Blue Cash | Amex Mercedes Benz | Amex Schwab Platinum | Amex SimplyCash Plus | Barclays Uber Platinum Visa | Chase Amazon Prime Visa Signature | Chase Freedom Visa Signature | Chase IHG Premier World Elite Mastercard Discover IT Miles | Discover IT More | Lowes Advantage | Macys Store | NFCU Flagship Visa Signature | Penfed Pathfinder Rewards Amex | USAA Limitless Rewards Platinum Visa
Message 7 of 12
Established Contributor

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 Smiley Frustrated. 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

Amex BCE $10,000 | BofA Power Rewards WMC $10,000 | Discover It $10,000 | ICBC Preferred Gold UnionPay $8,000 | Local CU Visa $3,500
Message 8 of 12
Regular Contributor

Re: Two PenFed questions

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 Smiley Happy

Message 9 of 12
Valued Contributor

Re: Two PenFed questions

I would call to verify, but it shouldnt be


Last Pulled EQ: 809
Last Credit Card App: 02/05/2016
Last CLI: 02/06/2016
Find Me: Gardening
Message 10 of 12