So if Penfed ever offers me a preapproval for a CC (yes, I am laughing 
) I have a few questions:
I see that the Power Cash Rewards CC offers 2% on all purchases if I am a "PenFed Honors Advantage Member"
(I am a member with 2 savings accounts, just not a PenFed Honors Advantage Member)
I know that one of the ways to be a PenFed Honors Advantage Member is to have an Access America Checking account with $500 dead in there to avoid fees.
So my question is this: Say I got a pre-approval email/mailer from PenFed for their PCR card. During the app process, does it ask you to apply for the Access America Checking account to get the 2% on that card? Or is applying for the AA checking account something you need to do prior to apping for their card?
Also - does PenFed use ChexSystems for their checking account?
@cashorcharge wrote:Hmmmm...
Well I can add that I started with just Savings and the PCR. Then app'd and got the Gold Card. I opened my checking account as you mentioned after I was already a member to lock in the 2% and it look all of 60 seconds. I don't recall anything extraneous to add the account but to your point, I did not ask nor do I have a Chexsystems issue so they could have checked and I wouldn't have known it.
If they offer you the card, you can get the card and the process will not include the "hey, wanna get a checking account too" verbiage. They are seperate and the prescreened offer will stand alone. If they do and you accept, you can easily add the checking at that time....as a seperate transaction, or after the fact. I had my PCR about 3 months then added checking and the 2% transition was the next day.
Their offers come out quarterly and the next wave should start APR 1. I was told that most prescreened offers for new cards/additional credit come after your accounts have aged 6 months.
Thanks @cashorcharge ! 