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PenFed Gold Visa Pre-Approval

FinStar
Moderator

Re: PenFed Gold Visa Pre-Approval


@SifiUSa wrote:

It's always an HP to join Penfed.


@SifiUSa, this is not accurate.  There's a variety of DPs that lots of individuals have reported in the Personal Finance subforum.  In the majority of cases, at least recently (depending how one joins) it's SP.  That said there's been occurrences where it turns out as HP - but it's not always.

Message 11 of 30
SifiUSa
Valued Member

Re: PenFed Gold Visa Pre-Approval

Ok. When I joined I ask the CSR and he told me that.

Message 12 of 30
FinStar
Moderator

Re: PenFed Gold Visa Pre-Approval


@CreditCuriosity wrote:

I personally would not go for it unless you need it.. That is the highest APR for that card and that card has no rewards.  Ideally one would get the lowest APR with that card.  If you aren't in need of that card for credit or 0% whatever I would hold off for better terms or until your CR is in better shape for better terms.  Just my 2 cents.


Agree with this.  PenFed pre-approval offers aren't 100% reliable, IMO, even if APR is solid.  Granted, if profile is strong and meets PenFed criteria, sure.  But, we've seen a variety's of PenFed members and non-members who nibbled on similar offers and were not approved.  So, it's YEMV.

Message 13 of 30
FinStar
Moderator

Re: PenFed Gold Visa Pre-Approval


@SifiUSa wrote:

Ok. When I joined I ask the CSR and he told me that.


Understandable, but most forum members have learned collectively that in a variety of cases CSRs are not very well-informed.

Message 14 of 30
gingerflower
Valued Contributor

Re: PenFed Gold Visa Pre-Approval

@SifiUSa 

I am a member of Penfed for 9 yrs and when I first joined it was a SP. I just called Penfed and was told it was a SP for membership...So, go figure!

Message 15 of 30
1GaDawg85
Valued Contributor

Re: PenFed Gold Visa Pre-Approval

I would join now and sit on it. You may get something better after throwing them some money and then see what they do for you during the SP quarterly offer. 






FICO 5 ,4, 2 - 2/2021

FICO 8 - 2/2021

FICO 9 - 2/2021


Message 16 of 30
Rebuild2019
Established Contributor

Re: PenFed Gold Visa Pre-Approval

@CreditMagic7 I was thinking that it is a big deal for me to get a pre-approval from them. I have never done business with them or applied for anything. I was really shocked to see the envelope. Thanks for responding. I am thinking about it.

CARDS: Discover It | QuickSilver One | Kohl’s | BB&T Spectrum Cash Rewards | BB&T Bright | NFCU CashRewards | NFCU More Rewards | AMEX BCE | Verizon Visa | Wells Fargo Platinum | Amazon Prime | OverStock
Starting Scores 05/2019: EQ:519, EX:525, TU:574
Message 17 of 30
Rebuild2019
Established Contributor

Re: PenFed Gold Visa Pre-Approval

Thanks @AllZero. You always give good info.

CARDS: Discover It | QuickSilver One | Kohl’s | BB&T Spectrum Cash Rewards | BB&T Bright | NFCU CashRewards | NFCU More Rewards | AMEX BCE | Verizon Visa | Wells Fargo Platinum | Amazon Prime | OverStock
Starting Scores 05/2019: EQ:519, EX:525, TU:574
Message 18 of 30
Rebuild2019
Established Contributor

Re: PenFed Gold Visa Pre-Approval

I am always nervous about hard pulls @SifiUSa

CARDS: Discover It | QuickSilver One | Kohl’s | BB&T Spectrum Cash Rewards | BB&T Bright | NFCU CashRewards | NFCU More Rewards | AMEX BCE | Verizon Visa | Wells Fargo Platinum | Amazon Prime | OverStock
Starting Scores 05/2019: EQ:519, EX:525, TU:574
Message 19 of 30
Rebuild2019
Established Contributor

Re: PenFed Gold Visa Pre-Approval

Ok. So I need to read in Personal Finance. Thanks @FinStar

CARDS: Discover It | QuickSilver One | Kohl’s | BB&T Spectrum Cash Rewards | BB&T Bright | NFCU CashRewards | NFCU More Rewards | AMEX BCE | Verizon Visa | Wells Fargo Platinum | Amazon Prime | OverStock
Starting Scores 05/2019: EQ:519, EX:525, TU:574
Message 20 of 30
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