Penfed crazy story

[Anonymous]

So I've been wanting to get a foot in with penfed for awhile now but I have been in the garden. I decided to become a member and open a savings account on 9/6/17. I got approved on 9/7/16. Yesterday morning I called in to get my member number and talked to a very nice young lady and opened a checking account and threw 500 bucks in.

I've been wanting their power cash card with the full 2% so I did the checking account. She had me on the phone and said, ok the checking account is done can I do anyhthing else for you? She said it's all under one hard pull for the membership so why not try for the card? I said okay AND...... was APPROVED for the power cash!!!

I then asked her for a cloc and got APPROVED for 500 that I asked for. She asked if anything else and I said no and thank you very much( kind of in dis-belief). I then called back a couple hours later and asked about a refinance on my truck, he said still under same hard pull so 30 mins later they refinanced my 36k truck note and check is in the mail!!

I am very impressed with PENFED and very happy to start a very long relationship with them. By far the craziest thing any one company has done for me! I definitely feel the penfed love!!

TU676 EQ662 EX654

[sid33]

That's awsome!  I did something similar with USAA a few years back. I called to see what their auto loan refinance rates were, and after a 30 min call, we eneded up refinancing both our auto loans, I got a platinum MC $5k, a $5k AMEX, and the wife got a $5k MC and $5k AMEX. Never expected any of it.  After I hung up, I had to go sit down and let it all sink in.

[AverageJoesCredit]

How much was the PC?

[Anonymous]

Sid33- its awesome man make a you really feel welcome and yes I had to let it sink in for sure!!

Average- it was approved at 4k but I will run 2k weekly through it for my business and pif weekly, so they should raise it pretty quick

[Total80sKid]

Congrats on the approvals!

I'm loving PenFed myself

[AverageJoesCredit]

Thanks rspillman88! Nice job and hope they give you what you need in the future

[pizza1]

Congrats on getting in with PF! They have been good to me as well post considering my BK

[DaveInAZ]

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@Anonymous wrote:
Sid33- its awesome man make a you really feel welcome and yes I had to let it sink in for sure!!

Average- it was approved at 4k but I will run 2k weekly through it for my business and pif weekly, so they should raise it pretty quick

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Congrats on your success with Penfed, I'm also a very happy Penfed member. But two pieces of advice:

1- Be careful they don't realize you are using your card for business purposes, all Penfed's accounts are for personal use only. A couple months ago someone posted here bashing Penfed for turning them down. The poster mention that Penfed had looked at their website, so that told me they had told Penfed they intended to use the accounts for business use and that's what they were turned down, Penfed doesn't offer business accounts, only personal.

2- Be aware that for the first 6 months of membership you will be under several restrictions. A big one is that payments on your CC will not be released to the available credit for 10 days, even payments from a Penfed account. The payment will be posted to the CC the next day, but the available credit won't be increased by the payment amount until 10 days later.

[Anonymous]

They have been amazing so far and am very excited to keep am excellent relationship with them for all credit products in my future! Thanks everybody on this forum for all the knowledge you have provided!!

[Anonymous]

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@DaveInAZ wrote:

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@Anonymous wrote:
Sid33- its awesome man make a you really feel welcome and yes I had to let it sink in for sure!!

Average- it was approved at 4k but I will run 2k weekly through it for my business and pif weekly, so they should raise it pretty quick

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Congrats on your success with Penfed, I'm also a very happy Penfed member. But two pieces of advice:

1- Be careful they don't realize you are using your card for business purposes, all Penfed's accounts are for personal use only. A couple months ago someone posted here bashing Penfed for turning them down. The poster mention that Penfed had looked at their website, so that told me they had told Penfed they intended to use the accounts for business use and that's what they were turned down, Penfed doesn't offer business accounts, only personal.

2- Be aware that for the first 6 months of membership you will be under several restrictions. A big one is that payments on your CC will not be released to the available credit for 10 days, even payments from a Penfed account. The payment will be posted to the CC the next day, but the available credit won't be increased by the payment amount until 10 days later.

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Great post DaveInAZ. Many folks don't know That! Especially #2.