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Linking PenFed Promise to Checking Account

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Anonymous
Not applicable

Re: Linking PenFed Promise to Checking Account


@fltireguy wrote:

@Anonymous wrote:

You can't link the Penfed Promise to your checking in order to get a no fee cash advance.  You alther alternative is to apply for an ovedraft line of credit linked to your checking account so that you can draw from it if the need be--


Yes-Its-Me - YES you can do a no fee cash advance from Promise into PenFed or outside checking, just do it as a tansfer off of the website or app (see pic)  NO FEE except interest accrues from date of transfer

OP - if you have any quesqions just PM me  

 

image.jpg


@fltireguy

 

Didn't know that and thanks for the info. I just called to verify and was told you do get a fee.  Have you not gotten any fee at all and why would you do this as opposed to using a PLOC?

Message 11 of 13
fltireguy
Valued Contributor

Re: Linking PenFed Promise to Checking Account

I tried it when I saw it show up in accounts to transfer from. Transferred $1K to checking for 4 days, and then back again. No fee of any type, but I did get hit with a small interest charge when the statement cut..  I do have a CLOC with NFCU, that is what I would use  if I needed it. PenFed doesn't think that I am worthy of a PLOC a this point, but that is no biggie - I have enough available credit Smiley Happy

 

Also remember that Promise is a no fee card - there is no late fee, cash advance, ftf..etc...

NFCU $60.4k/PenFed $22.5k/Commerce $15K/53 $11K/Synovus $14K/BBT $11K/CapOne $12K/DCU $7.5K/BMO $7.5K/Chase $14.5k/Cabelas $10K/ and many many more!
Total CL $398600, plus car and RV loan.
Ooh. Ooh. Getting closer to that $500K mark!
Message 12 of 13
Anonymous
Not applicable

Re: Linking PenFed Promise to Checking Account


@fltireguy wrote:

I tried it when I saw it show up in accounts to transfer from. Transferred $1K to checking for 4 days, and then back again. No fee of any type, but I did get hit with a small interest charge when the statement cut..  I do have a CLOC with NFCU, that is what I would use  if I needed it. PenFed doesn't think that I am worthy of a PLOC a this point, but that is no biggie - I have enough available credit Smiley Happy

 

Also remember that Promise is a no fee card - there is no late fee, cash advance, ftf..etc...


Ok.. Got it and this is good info. to have.  Thanks for chiming in..

Message 13 of 13
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