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.
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.
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.
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!
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.