topic Re: CC Offer from PENFED?? in Credit Cards

CC Offer from PENFED??

gorgon — Mon, 21 Sep 2020 13:51:23 GMT

I just looked at USPS Informed Delivery, and apparently I'm getting a CC offer from PENFED today. I have never dealt with them at all, and only knew they existed from reading these forums. Is the mailer a normal thing?

Re: CC Offer from PENFED??

WavysMommy — Mon, 21 Sep 2020 13:53:21 GMT

Unless it says pre-approved, it's just a marketing mailer. I got the same thing on Saturday, but I'm a member.

Re: CC Offer from PENFED??

Peteyglad — Mon, 21 Sep 2020 13:54:21 GMT

I get a mailer from them every few months. I am not a memeber.

Re: CC Offer from PENFED??

blindambition — Mon, 21 Sep 2020 14:44:25 GMT

They seem to have ratcheted up their marketing offers recently. Nothing in marketing is guaranteed, but a pre-approval is more favorable, over say you've been selected, pre-qualified, any language of that sort.

Re: CC Offer from PENFED??

Anonymous — Mon, 21 Sep 2020 18:05:50 GMT

I received one as well, I'm not a member however hubby is. I'm a authorized user on his cards, so I'm going to assume that's how they got me, the language is pre-approved and quotes a specific APR on the back, I checked their website and it shows a range of APRS on the main product page. I entered the acceptance page and it shows "no offers found". I'm going to leave it alone 😂

Re: CC Offer from PENFED??

Anonymous — Mon, 21 Sep 2020 19:06:54 GMT

Got my mailer Friday, no affiliation with them ever. Preapproval for the Power Cash Rewards card with an approval code. I took it and got the card with an $8750 limit. Finished my account business with them today and am now a member with Access America checking, a savings account, and the PCR card. Painless and from my call to customer service today, I see their good reputation is so far well-earned.

Friend of mine at work got the same thing Saturday. She had to upload documents and is awaiting the ID verification completion.

If it says preapproved and has a code to accept the offer, it looks to be solid.

Re: CC Offer from PENFED??

Anonymous — Mon, 21 Sep 2020 19:51:20 GMT

I just got this too, says pre approved with set apr, wonder if you accept is it sp like offers when you are a member already, do they give you the cl before you accept?

Re: CC Offer from PENFED??

AverageJoesCredit — Mon, 21 Sep 2020 20:05:50 GMT

@Anonymous wrote:
I received one as well, I'm not a member however hubby is. I'm a authorized user on his cards, so I'm going to assume that's how they got me, the language is pre-approved and quotes a specific APR on the back, I checked their website and it shows a range of APRS on the main product page. I entered the acceptance page and it shows "no offers found". I'm going to leave it alone 😂

That about sums up Penfed

Re: CC Offer from PENFED??

gorgon — Mon, 21 Sep 2020 21:24:32 GMT

The offer I received states that I'm pre-approved for a Visa Signature card with 17.99% APR, a $100 statement credit if I spend $1500 in the 90 days, and 12 months @ 0% on balance transfers for 12 months. I am going to stay in the garden.

Re: CC Offer from PENFED??

Anonymous — Mon, 21 Sep 2020 21:26:08 GMT

@Anonymous wrote:
I just got this too, says pre approved with set apr, wonder if you accept is it sp like offers when you are a member already, do they give you the cl before you accept?

In my case, not being a member, I didn't get my limit until the pull was made. I can't speak to what happens if you're already a member...yet.

Re: CC Offer from PENFED??

sxa001 — Mon, 21 Sep 2020 21:38:46 GMT

Not a member, they send me one recently. Said I was pre-approved for the Gold Visa. Offering 0% for 12 months. Not opening new accounts right and don't need it and anyways the rate after the 0% was quoted at 15.99%, not sure if they pulled EQ before the collection was cleaned up or what but with my scores I would expect to be closer to the 7.49% on that card (I have 10.9% on on my NASA FCU card and my scores weren't nearly as good when I got that card).

Re: CC Offer from PENFED??

Anonymous — Mon, 21 Sep 2020 22:17:54 GMT

I got 16.99 so I guess it's solid not the max apr. but honestly not knowing for sure, not knowing the limit, and also risk of them popping POI (I put current years income that I'll be putting on my taxes, not last years) (I know playing with fire) so a pull for nothing if denied for poi, and my desire to let myself get to a clean scorecard, and to pay my student loans under 9% and get to 0/12 new accounts, which will all happen in April I'm gonna pass idk what score PenFed pulls but I'm sitting at 694 8 722 9

Re: CC Offer from PENFED??

AverageJoesCredit — Mon, 21 Sep 2020 22:26:16 GMT

@Anonymous wrote:
@Anonymous wrote:
I just got this too, says pre approved with set apr, wonder if you accept is it sp like offers when you are a member already, do they give you the cl before you accept?
In my case, not being a member, I didn't get my limit until the pull was made. I can't speak to what happens if you're already a member...yet.

Penfed does not give you limit before you apply. You are either approved or not and most people end up with a high apr even with good credit. Very rare to see those 7% aprs, as i have seen in my time here.

Re: CC Offer from PENFED??

gorgon — Thu, 15 Oct 2020 17:36:06 GMT

Well, I never shredded the pre-approval and got the itch to apply. I got a message that I was tentatively approved but had to upload ID verification docs. I will post in the Approvals section (if I get fully approved) when I find out my SL.

I was not meant for the garden.

EDIT: Approved https://ficoforums.myfico.com/t5/Credit-Card-Approvals/PenFed-PCR-Approved/td-p/6162248

Re: CC Offer from PENFED??

iced — Thu, 15 Oct 2020 14:20:34 GMT

Mine went straight to the shredder along with all the other junk CC mailers, but it's confusing me as I'm not a member, never was a member, not related to any members, never had military affiliation, and not even a member of any of their affiliates...so why are they even bothering?