@Anonymous wrote:Received a mailer about it. Not sure what this means or if they're any good. I know a lot of member here have their cards. Any info?
Ive never heard of Penfed but from what I've read they seem to be ok and have really been approving alot of different profiles lately
. Are you even looking for a new card?
@Anonymous wrote:
@Loquat wrote:
Worth it or not will depend a lot on which card you're speaking of and what you're looking to get out of it. "Any good" around these here parts is very subjective.Power cash rewards.
It's just a basic no frills 1.5% cash back card...2% if you have the right stats with them. Can you do better, absolutely. As for PenFed themselves, I've had nothing but absolutely amazing experiences with them, others not so much (just ask @AverageJoesCredit 
) But for the most part they are very low maintenance type folks once you get in the door.
I find their auto rates to be better than NFCU but on point with DCU. They're okay...nothing special but nothing bad...at least in my experience.
I have the card, insta approved for 25k at a decent apr. I get the 2% cash back and it usually credits pretty quickly. I have never had an issue with penfed. I have a auto loan through them 64k @ 4.49 % a 500.00 CLOC, 5k PLOC, the power cash rewards @25k and the platinum rewards @ 15k. I've been through 2-3 income verifications with them - when they ask, I usually call them up and email them pay stubs and have a solid approval by the time I hang up. They've always been pleasant to deal with. I'd 100% recommend them!
I have had a HELOC with them for almost 2 years. Great product, rate and terms and very easy to open.
I also just recently opened the PCR card got a decent APR (14.99%) and their max SL (25K) and dropped $500 in their checking account to get the 2% CB.
Never had an issue with them and their Customer Service has always been great.
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@Loquat wrote:
@Anonymous wrote:
@Loquat wrote:
Worth it or not will depend a lot on which card you're speaking of and what you're looking to get out of it. "Any good" around these here parts is very subjective.Power cash rewards.
It's just a basic no frills 1.5% cash back card...2% if you have the right stats with them. Can you do better, absolutely. As for PenFed themselves, I've had nothing but absolutely amazing experiences with them, others not so much (just ask @AverageJoesCredit
I find their auto rates to be better than NFCU but on point with DCU. They're okay...nothing special but nothing bad...at least in my experience.
You get the 2% either by being a current or former service member or by having $500 in a checking account with them. Solid overall, and pretty generous with limits. I just joined and got the Platinum rewards to use as a gas/groceries card, happy so far.