PenFed OMGGGGGG!!

[Anonymous]

Remaa

didn't she have you set your code over the phone....if she did you can jump right

I literally join 2 hours ago and my rep had me make up a code right then, with the

name and password etc.

Mine even waited ...actually 'made' me login and out before we finished the call to make sure I knew how.

Made it seem like it was SOP

Did they have you hold on and type in a code twice thru an automated system?

If not maybe, I just lucked up on a better than average rep.

Just occurred to me I ok'd esigning and to have things sent electronically, could that be the difference

did you opt not to do so ( I know the signature card is coming snail along with the welcome kit)...just trying to figure

out the difference.

[Anonymous]

I ok'd to have everything sent electronically but he just said I had to wait for a code before I can login... He never asked if I wanted a checkings account either.. The rep I spoke to yesterday told me about it n the overdraft which I excepted..., I just got an email saying I was approved for Travel rewards but I applied for Cash rewards.... The rep that told me I was approved this morning said Cash rewards so idk what they doing... I'll call n see if they can give it over the phone

[Anonymous]

How does the Ploc work? Do I give a specific amount n if approved they deposit it into my account?

[Anonymous]

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@Anonymous wrote:
How does the Ploc work? Do I give a specific amount n if approved they deposit it into my account?

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This one I can answer  LOC's are basically like credit lines w/o a credit card attached,

sort of like a Home equity line of credit, where you use as needed.

Some vendors like NFCU tie them to a checking acct as a sort of big boy 'overdraft' protection but unlike overdraft protection

where you maybe charged a fee (and have to pay back by months end) your LOC is just you using your CL (just like a CC)

no problem (you can carry a balance and make a minimum payment just like a CC)

Other vendors a la PenFed will just give you a checkbook to access your line and call it a PLOC

But they are the same... NFCU says CLOC (cool thing about that is you can use your regular debit card or get a checkbook where the check is written against your LOC)

The quickest, easist way to think of LOC is it's like having a CC in the from of a checking accout, which is very helpful for situation where CC's aren't the best payment method..

It also helps your util ratio b/c it they report as revolving accounts for CR purposes, so having them w/o using them helps your ratios no matter what,

that's why I'd like to get one from them to go with my Navy one.

LOC are great in a pinch b/c YOU can write yourself a quick 'cheap' loan w/o hassle or red tape

No cash, go to the ATM and 'boom' weekend cash....and since NFCU doesn't batch till Mon/Tues....it's a free or very, very cheap loan till payday or commssion payout FYI

[Anonymous]

Okay, I'm going to apply for that once I get my card in hand lol....... I'm not sure if I should try the Amex or try to recon the Promise..... I don't want to look like i'm being greedy..... Let me know family!!

[kugel]

Congrats
U report is clean ?

[Anonymous]

Thank you! I have a paid collection and a few late payments on a closed card from 2014.... Everything else perfect

[ddemari]

Congrats! I love penfed! They are awesome to deal with!

[Anonymous]

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@Anonymous wrote:

Okay, I'm going to apply for that once I get my card in hand lol....... I'm not sure if I should try the Amex or try to recon the Promise..... I don't want to look like i'm being greedy..... Let me know family!!

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I'm soory I want to  be clear, I forgot to mention that the % on a LOC starts once the funds are drawn, a la cash advance vs a grace period like using your CC

just wanted to be clear there ( again stil cheap and as I mention earlier, if you use of Friday afternoons (past bank cut-off) the systems ignore it until Monday night's batching...that's HALF a week float prior to any % in the 1st place...my NCFU cost me 5 cents a day per $100 borrowed...= Will NEVER be late on ANY payment when you write a quick $500 loan to yourself at a cost a quarter a day ($7.50/mo) way better than a payday place ....and with the stupid high limits using a little float money never causes a util issue $300 is 2% of the 15k CL...Get one

[alextercero]

Congrats