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PenFed Gold Visa (NOT) Signature Approval

Traveler101
Frequent Contributor

Re: PenFed Gold Visa Signature Approval

Congrats! 

Message 31 of 41
Medic981
Valued Contributor

Re: PenFed Gold Visa (NOT) Signature Approval


@Medic981 wrote:

So I had a weak moment and could not overcome my urge to apply and I wandered out of the garden. I have read that PenFed is sometimes a tough nut to crack yet I felt that my profile was strong enough to gain approval. I applied for a Gold Card because I was seeking a low-interest rate CC however I didn't get the 8.24% APR I was hoping for but got a 16.49% APR which is not what I was expecting. I did get $7,500 SCL which is better than I was expecting.

 

PenFedGold.JPG

 

I can always work on lowing the APR in the future.


I received my PenFed Gold Visa CC today. Even though the approval shows that I was approved for a Signature Visa, what I received was in fact a plain old Visa card as seen in the approval.

















Your FICO credit scores are not just numbers, it’s a skill.

Message 32 of 41
AllZero
Super Contributor

Re: PenFed Gold Visa (NOT) Signature Approval


@Medic981 wrote:

I received my PenFed Gold Visa CC today. Even though the approval shows that I was approved for a Signature Visa, what I received was in fact a plain old Visa card as seen in the approval.


How is it displayed on your online portal? Does it show signature?

Message 33 of 41
AverageJoesCredit
Community Leader
Mega Contributor

Re: PenFed Gold Visa (NOT) Signature Approval

Im suprised if that card comes in signature. They do have a cc that is flaunted as their main signature card, i figure their gold is as close to vanilla as Penfed gets. 

Message 34 of 41
Medic981
Valued Contributor

Re: PenFed Gold Visa (NOT) Signature Approval


@AllZero wrote:

@Medic981 wrote:

I received my PenFed Gold Visa CC today. Even though the approval shows that I was approved for a Signature Visa, what I received was in fact a plain old Visa card as seen in the approval.


How is it displayed on your online portal? Does it show signature?


My approval shows it is a Visa Signature!?!

PenFedGold.JPG

 

















Your FICO credit scores are not just numbers, it’s a skill.

Message 35 of 41
AllZero
Super Contributor

Re: PenFed Gold Visa (NOT) Signature Approval


@Medic981 wrote:

@AllZero wrote:

@Medic981 wrote:

I received my PenFed Gold Visa CC today. Even though the approval shows that I was approved for a Signature Visa, what I received was in fact a plain old Visa card as seen in the approval.


How is it displayed on your online portal? Does it show signature?


My approval shows it is a Signature Visa!?!


Not the approval. On your PenFed portal e.g. with your checking and savings account info.

Message 36 of 41
Medic981
Valued Contributor

Re: PenFed Gold Visa (NOT) Signature Approval


@AllZero wrote:

@Medic981 wrote:

@AllZero wrote:

@Medic981 wrote:

I received my PenFed Gold Visa CC today. Even though the approval shows that I was approved for a Signature Visa, what I received was in fact a plain old Visa card as seen in the approval.


How is it displayed on your online portal? Does it show signature?


My approval shows it is a Signature Visa!?!


Not the approval. On your PenFed portal e.g. with your checking and savings account info.


No, it is a PenFed Gold Visa in my checking and savings account info.

















Your FICO credit scores are not just numbers, it’s a skill.

Message 37 of 41
AllZero
Super Contributor

Re: PenFed Gold Visa (NOT) Signature Approval


@Medic981 wrote:

@AllZero wrote:

@Medic981 wrote:

@AllZero wrote:

@Medic981 wrote:

I received my PenFed Gold Visa CC today. Even though the approval shows that I was approved for a Signature Visa, what I received was in fact a plain old Visa card as seen in the approval.


How is it displayed on your online portal? Does it show signature?


My approval shows it is a Signature Visa!?!


Not the approval. On your PenFed portal e.g. with your checking and savings account info.


No, it is a PenFed Gold Visa in my checking and savings account info.


Not sure what to tell you then. My PCR shows regular on the portal. On the actual card it shows signature.

Message 38 of 41
AverageJoesCredit
Community Leader
Mega Contributor

Re: PenFed Gold Visa (NOT) Signature Approval

Well if you dont use the Signature bennies, most likely mute. But hey, turn over the card. sign it and VOILA! Gold signatureSmiley Happy

Message 39 of 41
Medic981
Valued Contributor

Re: PenFed Gold Visa (NOT) Signature Approval


@AllZero wrote:

@Medic981 wrote:

@AllZero wrote:

@Medic981 wrote:

@AllZero wrote:

@Medic981 wrote:

I received my PenFed Gold Visa CC today. Even though the approval shows that I was approved for a Signature Visa, what I received was in fact a plain old Visa card as seen in the approval.


How is it displayed on your online portal? Does it show signature?


My approval shows it is a Signature Visa!?!


Not the approval. On your PenFed portal e.g. with your checking and savings account info.


No, it is a PenFed Gold Visa in my checking and savings account info.


Not sure what to tell you then. My PCR shows regular on the portal. On the actual card it shows signature.


As AJC is fond of pointing out, PenFed can be schizophrenic and I believe they are having a flare-up. As I understand it, a Signature Visa requires a minimum of $5K CL and I was given a $7.5K SL. If a FI is able to get higher swipe fees from a Signature Visa I don't understand why they wouldn't issue the same. 

 

I am most likely going to sock drawer this card and after I get out of the garden next year try to PC it to something else. I was expecting a much lower APR. This card is my in with PenFedI however I already have a card with a lower APR which is why I applied for it in the first place. Am I correct in assuming that it will be an HP to PC to another card if it is even possible?

















Your FICO credit scores are not just numbers, it’s a skill.

Message 40 of 41
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