Non-Member PenFed Credit Card Application

[user979797]

I decided to apply for a PenFed Rewards credit card but am not a member. The application stated that once my application is processed I will receive further instructions on opening my member savings with a minimum of 5.00. After submitting the application, I got a notice stating they needed more information and to submit my SS card, DL and a utlity bill. I uploaded all of those documents yesterday and haven't heard anything.

Does anyone know how this process usually works? Will they approve the credit card before requiring me to open the savings? Any info is much appreciated

[mrjerry]

It's Saturday... I believe they are closed 

[cashorcharge]

I didn't follow your path so I don't know how long it takes as a non-member. Last month my new card took about 5 days from app to approval...no docs just time needed. You can call in on MON but they'll like tell you its underway. 

[MrT_521]

So I cannot answer for PenFed specifically, but I did this recently for SDFCU. I applied for membership and a credit card simultaneously. I'm pretty sure their processes would be similar. SDFCU requires that the membership is completed before the credit card application is processed.

To be clear, I joined PenFed shortly after joining SDFCU, but I did not apply for a PenFed credit card; only the membership (for now).

[M_Smart007]

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@user979797 wrote:

I decided to apply for a PenFed Rewards credit card but am not a member. The application stated that once my application is processed I will receive further instructions on opening my member savings with a minimum of 5.00. After submitting the application, I got a notice stating they needed more information and to submit my SS card, DL and a utlity bill. I uploaded all of those documents yesterday and haven't heard anything.

Does anyone know how this process usually works? Will they approve the credit card before requiring me to open the savings? Any info is much appreciated

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@user979797, I'd give it 2-3 bus. days.

If nothing heard back, then call them.

[user979797]

So I have a 749 credit score never a bad mark but I do have 3 new accounts within the last 2 years, and I am guessing that is why I was counter offered a 2% cashback card with a 2500.00 limit instead of the card I applied for. I wont be accepting the card or joining PenFed. Thank you all for the great info.

[coldfusion]

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@user979797 wrote:

So I have a 749 credit score never a bad mark but I do have 3 new accounts within the last 2 years, and I am guessing that is why I was counter offered a 2% cashback card with a 2500.00 limit instead of the card I applied for. I wont be accepting the card or joining PenFed. Thank you all for the great info.

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I suspect the reasoning was along the same lines as the reasoning for most of your other cards having a CL < $5K, not because you picked up 3 cards in the last 2 year.  The outcome would make sense if you had applied for the Premium Rewards card, and it was too much of a stretch for them to be willing to approve you for that card's $5K mininum SL.