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Regular Contributor
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 Smiley Happy

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

Re: Two PenFed questions

Nobody? Please answer me.

 

Zar Smiley Happy

Established Contributor
Posts: 506
Registered: ‎12-07-2012
0

Re: Two PenFed questions

I think they will PC Visa cards over the phone.

Amex BCE $18,000 | BofA Power Rewards WMC $15,000 | Chase Freedom VS $20,000 | Chase Marriott Premier VS $5,000 | Citi Diamond Preferred $4,200 | DCU $4,300 | Discover It $4,900 | Local Bank MC $4,125 | Local CU Visa $3,500 | PenFed Platinum Rewards VS $9,000 | SallieMae Rewards $11,000
Established Contributor
Posts: 506
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 Smiley Frustrated. But I guess that is Amex to Visa.

Amex BCE $18,000 | BofA Power Rewards WMC $15,000 | Chase Freedom VS $20,000 | Chase Marriott Premier VS $5,000 | Citi Diamond Preferred $4,200 | DCU $4,300 | Discover It $4,900 | Local Bank MC $4,125 | Local CU Visa $3,500 | PenFed Platinum Rewards VS $9,000 | SallieMae Rewards $11,000
Valued Contributor
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
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
Posts: 833
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 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: 743 (6/15); TU: 760 (6/15); EQ 722 (5/15)
Established Contributor
Posts: 506
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 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 $18,000 | BofA Power Rewards WMC $15,000 | Chase Freedom VS $20,000 | Chase Marriott Premier VS $5,000 | Citi Diamond Preferred $4,200 | DCU $4,300 | Discover It $4,900 | Local Bank MC $4,125 | Local CU Visa $3,500 | PenFed Platinum Rewards VS $9,000 | SallieMae Rewards $11,000
Regular Contributor
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 Smiley Happy

Valued Contributor
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
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