topic Re: Throwing PenFed for a Loop in Credit Cards

Throwing PenFed for a Loop

ramblin_wreck08 — Tue, 26 Feb 2013 14:44:46 GMT

I got my PenFed card a couple weeks ago. My first purchase was $1 and some change for some Gatorade at a gas station. My second purchase was last night for a $2.5k engagement ring! I was going to swipe the card, and couldn't help but think what kind of red flag I was throwing up on their systems. Haha. I honestly expected a denial and a call, but it went through just fine! That shows a lot of trust on PenFed's part, considering I have a car loan with them and only the minimum $5 savings account. The relationship is just 1 month old at this point.

Anyone else done anything similar with a new card/relationship?

P.S. Is there any way to see pending transactions on PenFed's site?

Re: Throwing PenFed for a Loop

cahiatt — Tue, 26 Feb 2013 16:58:35 GMT

I get a call from them about once a month checking for fraud. Of couse my spending is all over the place. The wife and I both use their Visa for daily needs and I also use it for work. I might get gas in Miami and 20 minutes later the wife is getting gas in Atlanta. 30 minutes after that I'll be buying something from a Chinese vendor for work at about $4k and then buying plane tickets for the month. That almost always gets the phone ringing.

Re: Throwing PenFed for a Loop

Anonymous — Tue, 26 Feb 2013 17:26:42 GMT

@cahiatt wrote:
I get a call from them about once a month checking for fraud. Of couse my spending is all over the place. The wife and I both use their Visa for daily needs and I also use it for work. I might get gas in Miami and 20 minutes later the wife is getting gas in Atlanta. 30 minutes after that I'll be buying something from a Chinese vendor for work at about $4k and then buying plane tickets for the month. That almost always gets the phone ringing.

Interesting. I hadn't heard that about Penfed. I just used my Penfed card in the UK without issue, though I did make sure to tell them in advance that I would be there.

In the US I just buy and groceries with the card, so maybe nothing to trigger alerts.

On the other hand, I heard a lot of reports about the FIA Fidelity card causing lots of fraud calls, and that has never happened with me. Really only Capital One, and then only when I engage in known high-fraud-potential purchases

Re: Throwing PenFed for a Loop

Epcot — Tue, 26 Feb 2013 18:08:33 GMT

Gatorade and an engagement ring! Congrats on the upcoming engagement.

Re: Throwing PenFed for a Loop

youngandcreditwrthy — Tue, 26 Feb 2013 20:22:44 GMT

Congrats on the engagement! No experience with PenFed here! Lol

Re: Throwing PenFed for a Loop

Anonymous — Tue, 26 Feb 2013 20:24:25 GMT

My experience says that penfed should be classified as a bank not a credit union

Re: Throwing PenFed for a Loop

djrez4 — Tue, 26 Feb 2013 21:04:43 GMT

@Anonymous wrote:
My experience says that penfed should be classified as a bank not a credit union

That's a bit of a nonsense statement. PenFed is a credit union, despite whatever experience you may have.

Re: Throwing PenFed for a Loop

Anonymous — Tue, 26 Feb 2013 21:17:46 GMT

I would say that your response if full of it. Credit unions are desighned to serve the underprivleged and Petagon does not do that, and I am a member but not a active member

Re: Throwing PenFed for a Loop

ramblin_wreck08 — Tue, 26 Feb 2013 21:26:15 GMT

Thanks everyone! I plan to propose in a couple weeks!

cahiatt...I bet they're always wondering what you're up to and if someone got your card. That's quite the spending pattern you've got there.

Re: Throwing PenFed for a Loop

bbb3601 — Tue, 26 Feb 2013 21:27:12 GMT

Congrat's obviously........and I so can't wait to throw PenFed for a loop myself!!!! Maybe summer!??

Re: Throwing PenFed for a Loop

Sevenfeet — Tue, 26 Feb 2013 21:40:32 GMT

@Anonymous wrote:
I would say that your response if full of it. Credit unions are desighned to serve the underprivleged and Petagon does not do that, and I am a member but not a active member

That's a pretty outdated view of a credit union.

Re: Throwing PenFed for a Loop

Anonymous — Tue, 26 Feb 2013 21:43:38 GMT

Not outdated that is what they are suppose to be. If not they should be stripped of there credit union status. And just to add a little intrigue I was approved for there platunum card and denied a checking account go figure.

Re: Throwing PenFed for a Loop

daybreakgonesXe — Tue, 26 Feb 2013 22:18:07 GMT

Definition of a credit union:

noun

a cooperative group that makes loans to its members at low rates of interest.

Unfortunately, that is all it's meant to be. I'm sure there's a very in-depth legal analysis of what can and cannot be consider a credit union. Unfortunately, no person, place, or thing can always conform to our wants, expectations, and needs. So is life