After reading all of the glowing experiences from members about PenFed, I signed up for a share acount on Monday with a $50 deposit. The next day they pulled my EX with a hard pull (which I totally expected after reading the forum posts here) and I decided to wait another day to apply for any of the cards.
After reviewing all of the cards they had to offer, I decided to apply for the travel rewards AMEX. I already have enough cash back cards that offer either the same or better cash back rates, but I don't have any travel or mileage cards at this point.
I applied online and got the "loan officer review" response that I was expecting. The window advised a 24-48 hour window to review the application, so I sat tight and waited. About 48 hours later I got a phone call from a banker at PenFed letting me know that I had been approved for the card!
The approval was for a $10k SL @ 11.49% apr, which is kind of irrelevant because we PIF each month on all of our cards. The apr window for the card ranges from 9.74% - 17.99% based on creditworthiness, so I was content coming in on the lower end of the APR scale, just in case I ever did need to carry a balance.
FICO Bankcard 8: 757 (dropped 3 points yesterday after the HP from PenFed)
UTI: 2% - 5% (depending on when statements cut)
AAoA: 3yrs 2mos
Long story short, if you're on the fence about joining PenFed... GO FOR IT!
Congrats enjoy the card. PenFed is an awesome CU. My main one I use for banking and other financial needs such as auto loans etc