topic Re: Is this an official Penfed offer? in Credit Card Applications

Is this an official Penfed offer?

iamdetermined — Mon, 18 Feb 2019 21:34:28 GMT

Hi everyone,

I've been laying low, while I recover from holiday spending, and Penfed is now knocking on my mailbox lol.

I'm not currently a Penfed member, but have been interested in building a relationship with them for quite some time.

I've went as far as filling out and deleting the membership application (not submitted). This was earlier in my rebuild when I was afraid of rejection, had low scores, and didn't want to risk credit denials due to multiple new accounts at that time.

This is the first and only Penfed mail offer that I have received, so I'm not sure if this is just for promotional purposes, or not.

It has a solid 17.24% APR, and 0% balance transfer promotional rate for 12 months (on back of letter). The balance transfer offer would defintely come in handy.

Any feedback is appreciated. Thanks!

Re: Is this an official Penfed offer?

Gmood1 — Mon, 18 Feb 2019 21:45:51 GMT

I've never seen the CC offers like that from Penfed. But from what I've experienced with them, the offers were rock solid! Unlike most CU's. When they say you're preapproved..they actually mean it!

Penfed is hungry for some new members and revenue I see. I received a check from them last week, preapproved for $25K.

Re: Is this an official Penfed offer?

CramEiko — Mon, 18 Feb 2019 22:23:30 GMT

I think it's a mailer unless there's something on the back side stating more specifics. True, they may want you to apply but, it's not a for sure deal. I had these last year too but, I finally saw something in Offers on my online PenFed account. That was more specific language.

You could call PenFed and ask before running it. They have always been really helpful when I've called in.

Good Luck!

edited: noted that there was something on the back after I re-read it but, I would call and ask anyways.... Good Luck!

Re: Is this an official Penfed offer?

CreditCuriosity — Mon, 18 Feb 2019 22:29:52 GMT

Looks about as solid as you can get to me.. Never seen mail version but has opt out pre-screen along with pre-approved. I think you are probably golden if you want the card. Member of penfed I assume wonder why they wouldnt just provide it online by most method people get it though?

Re: Is this an official Penfed offer?

AverageJoesCredit — Mon, 18 Feb 2019 23:10:34 GMT

@Gmood1 wrote:
I've never seen the CC offers like that from Penfed. But from what I've experienced with them, the offers were rock solid! Unlike most CU's. When they say you're preapproved..they actually mean it!
Penfed is hungry for some new members and revenue I see. I received a check from them last week, preapproved for $25K.

c'mon G, after tasting what Average Joe brings to their organization, im not shocked they are looking for people with money Just makes sad panda thinking of them trolling innocent bystanders then rejecting them for having more than one creditor lol.

Re: Is this an official Penfed offer?

Meanmchine — Tue, 19 Feb 2019 01:31:15 GMT

The only mail I get from Penfed are car loans and life insurance

Re: Is this an official Penfed offer?

Loquat — Tue, 19 Feb 2019 01:36:47 GMT

Like others have mentioned. It looks solid. I too have never seen PenFed send pre-approvals via snail mail....but then again I've never known them to sent balance transfer checks in the mail and I received a few of them about a month ago. Maybe PenFed is trying to up their game...or at least catch up to where others have already been...for years.

Re: Is this an official Penfed offer?

SouthJamaica — Tue, 19 Feb 2019 01:37:40 GMT

Looks good to me.

Re: Is this an official Penfed offer?

CivalV — Tue, 19 Feb 2019 20:54:29 GMT

This looks solid. My boyfriend received a mailer from Penfed as well. The only difference between yours and his... his did not say “you are preapproved” only said he is invited to apply for it. He has a Penfed membership that is about 19 years old lol

Good luck if you decide to pull the trigger! And definitely update us if you go for it. I have steered clear from Penfed since my income and scores are not sufficient enough for them.

Re: Is this an official Penfed offer?

iamdetermined — Tue, 19 Feb 2019 21:50:15 GMT

Wow that's great, congrats Gmood1! You give me hope Thanks for the reply!

Re: Is this an official Penfed offer?

iamdetermined — Tue, 19 Feb 2019 21:56:43 GMT

I may call to be sure. Thanks CramEiko!

Re: Is this an official Penfed offer?

iamdetermined — Tue, 19 Feb 2019 21:59:37 GMT

The single apr is why I feel it may be solid too. I'm not a member....yet lol. I may be by night's end... Thx CreditCuriosity!

Re: Is this an official Penfed offer?

iamdetermined — Tue, 19 Feb 2019 22:01:02 GMT

Play nice AJC!

Re: Is this an official Penfed offer?

iamdetermined — Tue, 19 Feb 2019 22:01:42 GMT

I'm just getting on their radar. You have me beat

Re: Is this an official Penfed offer?

iamdetermined — Tue, 19 Feb 2019 22:05:47 GMT

They're fishing for new business it seems, at least in my case. I'm debating if I should take the bait. Thanks Loquat for the reply!

Re: Is this an official Penfed offer?

iamdetermined — Tue, 19 Feb 2019 22:06:25 GMT

Ok, thanks SouthJamaica!

Re: Is this an official Penfed offer?

Anonymous — Tue, 19 Feb 2019 22:12:37 GMT

Hey iamdetermined that’s cool . I would agree with creditcuriosity I would call them and apply( I’ve always thought a pre approval is a pre approval as long as your credit is the same since they sent you this offer ) . I had almost the same scores when I applied I would go for it !

Re: Is this an official Penfed offer?

iamdetermined — Tue, 19 Feb 2019 22:20:53 GMT

Ok great, thank you CivalV!
I was hoping someone would reply that received the same/similar letter. Did he apply for the card, and was he approved?

I'm thinking about joining now that they came searching for me haha!

My scores are high 600-low 700's across the board due to some expenses/utilization is around 18%, and income is sufficient.

Re: Is this an official Penfed offer?

iamdetermined — Tue, 19 Feb 2019 22:32:11 GMT

Thank you Valentinesdayhomedream! I agree that it seems solid. I'm going to scour the Penfed group on here, keep you all posted on my decision & outcome

Re: Is this an official Penfed offer?

iamdetermined — Tue, 19 Feb 2019 23:08:21 GMT

Forgot to mention, I did apply and receive 2 new credit cards - one in December, the other one in January.

The mail offer from Penfed was received about a week ago ago, AFTER both new accounts reported to the bureaus.

Should I wait until closer to the offer deadline date (4/2019), as the accounts age some, or if I go for it now will it make a difference?