topic Re: PenFed Balance Transfer Offer in Credit Cards

PenFed Balance Transfer Offer

Queen_Etherea — Mon, 18 Mar 2019 22:31:14 GMT

Hey guys! So I got an email from PenFed offering a 0% APR balance transfer for 12 months. I wanted to take advantage of this, but on the offer itself, it says "Subject to Credit Approval". Does this mean it can possibly be a hard pull?

Also, I was able to click on the link in the email, but now it keeps saying "Forbidden" when I try to click on the link. It was working perfectly fine this morning.

Thanks!

Re: PenFed Balance Transfer Offer

thornback — Mon, 18 Mar 2019 22:51:38 GMT

Not a hard pull (They didn't even do a soft pull) -- I think they mean you have to have the credit available to cover your BT amount and / or if you have prior late payments or some other negative history with them, they may rescind the offer. I took advantage of a BT offer with them a couple of months ago.. very easy, and they're quick with processing.

As far as the non-working link, I can't help you.. I guess just try again later -- or you could call them and complete the BT by phone.

Re: PenFed Balance Transfer Offer

CreditCuriosity — Mon, 18 Mar 2019 22:51:10 GMT

Wont be a HP although they could decline BT based on recent AR score, but honestly never seen this happen they are just covering their behinds is all

Re: PenFed Balance Transfer Offer

Queen_Etherea — Mon, 18 Mar 2019 22:53:16 GMT

@thornback wrote:
Not a hard pull (They didn't even do a soft pull) -- I think they mean you have to have the credit available to cover your BT amount and / or if you have prior late payments or some other negative history with them, they may rescind the offer. I took advantage of a BT offer with them a couple of months ago.. very easy, and they're quick with processing.

Oh ok that makes sense! So, if I log into my account and just do a balance transfer (without clicking the link in my email) do you think I'll still get that 0% APR? The link isn't working anymore, but it says you have until April 30th to take advantage.

Nevermind! Just read the edit on your reply.

Re: PenFed Balance Transfer Offer

thornback — Mon, 18 Mar 2019 23:01:45 GMT

haha... sorry, I was trying to add the edit really fast before you had a chance to read the post... lol. You're too quick for me!

So -- When I did my BT, the page the email link brought me to looked that same as the standard transfer page I would see when navigating from my main account page - and the BT terms on provided on both pages did not match the BT offer... so I called customer service. The rep said the BT offer terms will be applied so long as the transfer is completed within the specified time frame for that offer. So I went ahead and did it online (figuring I'd call back and raise H.E.Double.Hockey.Sticks if I was charged regular interest or whatever fees...). Sure enough, the special terms of the BT offer were applied just as the rep said it would be. So.. just an FYI.

Re: PenFed Balance Transfer Offer

hawkins — Tue, 19 Mar 2019 00:32:50 GMT

Don’t worry about the forbidden thing it’s just a bug in their latest software update. Will be fixed soon enough.

Re: PenFed Balance Transfer Offer

Revelate — Tue, 19 Mar 2019 07:47:37 GMT

Hrm had forgotten Penfed did a 0% BT offer occasionally, thanks for the reminder OP! I assume like Penfed's other offers it comes with checks for the BT deal?

I may try to establish a revolver there just for that really so I can play amortization games with some loans... happy to close my nearly unused PLOC if that's required too. Guess we'll see after I finish up with business apps once the new company paperwork arrives, not like anyone else is going to look at my EQ report anyway unless Chase decides to double-pull me for the first time ever.

Re: PenFed Balance Transfer Offer

Jen-Jen — Tue, 19 Mar 2019 19:49:21 GMT

I actually called Penfed earlier since i have a balance that I can/want to pay off before I transfer anything over to not pay interest on it. She really threw me off when she said that I would be ok to do right after paying, but that I would "need to go ahead and apply?!!" I was first looking on the website and app which says March 31st, but have that same email saying April 30th; it also says forbidden when I try to click through it. Perhaps that is why the email is not working...

Re: PenFed Balance Transfer Offer

CreditCuriosity — Wed, 20 Mar 2019 00:31:08 GMT

BT offers with penfed pretty much are always around not just set time periods just gotta call them and ask for them and chances are you have one i get spammed by BT offers from penfed and occassionally get checks as well from them. To answer your question @Revelate - checks are sent i don't believe you can request them on the fly like regular bt's with penfed and provide them with another account to pay off. Be nice if they were like the checks the 5/3rd and numerous other lenders always send me as i have a big cl with them in comparison to say 5/3rd

Re: PenFed Balance Transfer Offer

Queen_Etherea — Wed, 20 Mar 2019 21:41:49 GMT

@CreditCuriosity wrote:
BT offers with penfed pretty much are always around not just set time periods just gotta call them and ask for them and chances are you have one i get spammed by BT offers from penfed and occassionally get checks as well from them. To answer your question @Revelate - checks are sent i don't believe you can request them on the fly like regular bt's with penfed and provide them with another account to pay off. Be nice if they were like the checks the 5/3rd and numerous other lenders always send me as i have a big cl with them in comparison to say 5/3rd

I got an email from PenFed saying a check was on the way, but I never received it. I have no idea what that was even about.

Re: PenFed Balance Transfer Offer

NRB525 — Wed, 20 Mar 2019 21:53:55 GMT

Maybe I am just slow, but I have had to call in and talk with someone each time I want to BT items onto PenFed. It’s not too much hassle and gets the job done.

Not as simple as Discover but the rate is the same on the Promise $0 fee BT.

Re: PenFed Balance Transfer Offer

Anonymous — Thu, 21 Mar 2019 00:27:03 GMT

@Queen_Etherea wrote:
@CreditCuriosity wrote:
BT offers with penfed pretty much are always around not just set time periods just gotta call them and ask for them and chances are you have one i get spammed by BT offers from penfed and occassionally get checks as well from them. To answer your question @Revelate - checks are sent i don't believe you can request them on the fly like regular bt's with penfed and provide them with another account to pay off. Be nice if they were like the checks the 5/3rd and numerous other lenders always send me as i have a big cl with them in comparison to say 5/3rd
I got an email from PenFed saying a check was on the way, but I never received it. I have no idea what that was even about.

I would guess it's the check to the company you are BT-ing from.

Re: PenFed Balance Transfer Offer

Anonymous — Thu, 21 Mar 2019 00:29:12 GMT

So as far as i know, you can always get a 0% BT from penfed albeit with a 3% fee. I've done two of them at different times in the year. Either i got lucky and they were doing it when i asked or they don't want people to know it's always an option?

Re: PenFed Balance Transfer Offer

Jen-Jen — Sat, 23 Mar 2019 02:18:49 GMT

Seems they always have a balance transfer 0% for 12 months promo runs for 3 months. I have been with penfed for 7 months and seeing it the 2nd time so maybe they take one month off in between to get ppl to pull the trigger before the promo expires.