topic Re: Closed my PenFed in Credit Cards

Closed my PenFed

NoMoreE46 — Sat, 15 Feb 2025 18:30:39 GMT

As part of my thinning, I closed my Penfed Platinum Rewards card.

It was closed for a few reasons but mostly due to a series of legit charges getting denied. I would eventually get a SMS verification but it would like 10 minutes later...

This had served as my fuel card but the CCC has replaced it.

Re: Closed my PenFed

pizza1 — Sat, 15 Feb 2025 20:13:11 GMT

mmm, thats so strange. Ive never had PF deny a charge on my card. Was it higher dollar amounts, or charges that weren't a normal charge for you?, or they deemed risky? In the end, you have to do whats best for you, and your credit profile.

Re: Closed my PenFed

NoMoreE46 — Sat, 15 Feb 2025 21:35:32 GMT

The attempts were for common utiilities- water $80 and electric $300. All relevant info was entered including the CVC. Service address was the same as the Billing address.

No ill-will; just reducing the jugglage 😎.

It would have been closed earlier if not for this offer:

https://ficoforums.myfico.com/t5/Credit-Cards/PenFed-inactivity-offer/m-p/6784655#M1874945

Re: Closed my PenFed

UncleB — Sun, 16 Feb 2025 00:57:56 GMT

@NoMoreE46 wrote:
As part of my thinning, I closed my Penfed Platinum Rewards card.

It was closed for a few reasons but mostly due to a series of legit charges getting denied. I would eventually get a SMS verification but it would like 10 minutes later...

This had served as my fuel card but the CCC has replaced it.

This is the worst.

The only false-fraud declines I've ever had were with USAA (with two separate accounts), and my experience was identical to yours. On the newest account (USAA Amex for gas) it took a referral to a "specialist" and several days (!) to resolve, but they finally did.

On one of the older accounts there would be declines at Sam's Club - this happened more than once there - and just like in your case I'd get a SMS message when I was out in the parking lot (after paying a different way). I've never had this issue with any other bank.

To this day I'd never use any USAA cards in a situation where I'd be embarassed if it didn't work. I'm content with the USAA Amex since it's just me and the gas pump, but my other two USAA cards are permanently with my socks until/unless I decide to shed some dead weight. I'm sorry to hear PenFed was the same for you, but it sounds like you have better options anyway (the CCC is a solid option) so not such a big loss.

Re: Closed my PenFed

TrapLine — Sun, 16 Feb 2025 10:11:18 GMT

@UncleB wrote:
@NoMoreE46 wrote:
As part of my thinning, I closed my Penfed Platinum Rewards card.

It was closed for a few reasons but mostly due to a series of legit charges getting denied. I would eventually get a SMS verification but it would like 10 minutes later...

This had served as my fuel card but the CCC has replaced it.
This is the worst.

The only false-fraud declines I've ever had were with USAA (with two separate accounts), and my experience was identical to yours. On the newest account (USAA Amex for gas) it took a referral to a "specialist" and several days (!) to resolve, but they finally did.

On one of the older accounts there would be declines at Sam's Club - this happened more than once there - and just like in your case I'd get a SMS message when I was out in the parking lot (after paying a different way). I've never had this issue with any other bank.

To this day I'd never use any USAA cards in a situation where I'd be embarassed if it didn't work. I'm content with the USAA Amex since it's just me and the gas pump, but my other two USAA cards are permanently with my socks until/unless I decide to shed some dead weight. I'm sorry to hear PenFed was the same for you, but it sounds like you have better options anyway (the CCC is a solid option) so not such a big loss.

Remember that USAA Federal Savings Bank was reprimaneded and fined for not properly protecting their customer data and other financial matters starting back in 2015. There are several situation and the local Texas newspapers gave it some ink.

Re: Closed my PenFed

UncleB — Sun, 16 Feb 2025 11:16:35 GMT

@TrapLine wrote:
@UncleB wrote:
@NoMoreE46 wrote:
As part of my thinning, I closed my Penfed Platinum Rewards card.

It was closed for a few reasons but mostly due to a series of legit charges getting denied. I would eventually get a SMS verification but it would like 10 minutes later...

This had served as my fuel card but the CCC has replaced it.
This is the worst.

The only false-fraud declines I've ever had were with USAA (with two separate accounts), and my experience was identical to yours. On the newest account (USAA Amex for gas) it took a referral to a "specialist" and several days (!) to resolve, but they finally did.

On one of the older accounts there would be declines at Sam's Club - this happened more than once there - and just like in your case I'd get a SMS message when I was out in the parking lot (after paying a different way). I've never had this issue with any other bank.

To this day I'd never use any USAA cards in a situation where I'd be embarassed if it didn't work. I'm content with the USAA Amex since it's just me and the gas pump, but my other two USAA cards are permanently with my socks until/unless I decide to shed some dead weight. I'm sorry to hear PenFed was the same for you, but it sounds like you have better options anyway (the CCC is a solid option) so not such a big loss.
Remember that USAA Federal Savings Bank was reprimaneded and fined for not properly protecting their customer data and other financial matters starting back in 2015. There are several situation and the local Texas newspapers gave it some ink.

Very true... that's what led me into the welcoming arms of NFCU a few years ago (well, more than a few years now). I could write a whole thread about how far USAA has fallen (IMO, anyway).

Ironically enough, a few years ago I got multiple solicitations from PenFed. I gave it some thought, but at that time they were tightening-up on credit card approvals (those were the "Egyptian" days, if anybody remembers) so I passed on it. Based on threads such as this one and others it's probably a good thing I did.

Apologies for the slight derail into USAA territory, @NoMoreE46... I brought up my experience to commiserate but didn't mean to take the discussion in a different direction.

Re: Closed my PenFed

Gregory1776 — Sun, 16 Feb 2025 21:14:18 GMT

my $2,500 SL PCR is probably going to be closed someday as well. sucks because if it is, it will be with my loan and OLOC as well. so thats 3 accounts going with it. OLOC is reported as a CC. 500SL

Re: Closed my PenFed

CreditCuriosity — Mon, 17 Feb 2025 00:24:07 GMT

Thought about closing mine but one of my oldest accounts and has a 30k limit. Maybe they will come to their senses again and offer BT once again in the future vs. cutting them off for all as they did. Think a huge credit union like them would be able to figure their stuff out.

Re: Closed my PenFed

cashorcharge — Mon, 17 Feb 2025 01:07:42 GMT

Can't say that I've had that experience with PenFed....even know both cards don't get much usage.

Chase on the other hand...they are a bit notification happy with the "is this charge legit" a little TOO much....

They are good about texting me back instantly and clear it up...but that initial "decline" gives me anxiety and reminds me of my younger years when before mobile phones when I would use a card and cross my fingers sometimes to make sure I wasn't too close to my limit.

Ahh the good ole days...

Re: Closed my PenFed

creditrizz — Mon, 17 Feb 2025 19:39:13 GMT

PenFed has become a super annoying CU to deal with in almost every way. I haven't used either of my cards in a while, and have given up on even trying to put minor transactios on them to keep the limits in-place because of the inexplicable transaction denials I experienced.