@LuckyB338 wrote:Hi everyone!
I have question about the current rates and offers section.
I currently have checking and savings with them and the offers section show the following:
1. Real estate reward
2. Auto loans
3. Power Cash Rewards Visa signature
Is this a valid offer?
Where exactly are you seeing this? Here are some of my desktop screenshots:
The first picture is when I first log in, on the right-hand side of the screen. The second, is when I click the "Apply" button.
PenFed has changed in recent years. I don't pay them much mind anymore. Back in the day, that first picture, it would say "Accept" because it was a "You are approved!"
Now, all I have been getting for at least a year now are these offers that indicate "Apply." Right now, all I have is the car loan with a ceiling approval amount. Normally, when I have credit card or personal loan offers, there is no dollar amount.
Maybe others with more knowledge can chime in, but I believe if there is no credit limit listed with the offer, it is simply a marketing ploy to get you to apply and would come with a HP.
Not loving what PenFed has become in recent years. Bleh.
Mine just says "Apply", clicking on apply takes me to image of card with set APR (their highest 👸).
It doesn't say pre-approved or pre-qualified, it states "You're approved for...", there is no mention of the limit (not that it matters anyway).
This is what showed up on my online banking page.
Please advise. Thank you
I just checked and my login page shows a credit card "Apply" button and when I clicked, I get a "You are approved for a low rate credit card from PenFed" message.
Does that mean a solid approval if I go thru with it - or is it just a marketing gimmick ?
@LuckyB338 wrote:
This is what showed up on my online banking page.
Please advise. Thank you
@LuckyB338 -- that's just a marketing offer. If it doesn't explicitly state pre-approved or pre-qualified then it's simply an invitation to apply for that particular product.
@4sallypat wrote:I just checked and my login page shows a credit card "Apply" button and when I clicked, I get a "You are approved for a low rate credit card from PenFed" message.
Does that mean a solid approval if I go thru with it - or is it just a marketing gimmick ?
That is a solid offer. It is based on when they pulled you softly... in August likely. If noting has changed, it should be good. Expect a HP though...
@longtimelurker wrote:I was just checking my account to see but got distracted by the New Login Coming banner. Check out this exciting change!
(20) New Login Experience Coming for PenFed Members - YouTube
That will be nice. It is buggy right now when it has popped up to use the new log in.
@FinStar wrote:
@LuckyB338 wrote:
This is what showed up on my online banking page.
Please advise. Thank you
@LuckyB338 -- that's just a marketing offer. If it doesn't explicitly state pre-approved or pre-qualified then it's simply an invitation to apply for that particular product.
Yeah I figured as much, but did get a little excited since I haven't had much credit related activities since BK7 in Jan 21'. I'm expecting some offers from them somewhere between 6-12 months of being a good standing member with there checking and savings.
All of my investment allocations go through PenFed so my checking balance hopefully helps in PenFed giving me a credit card.
I genuinely miss the days when I used to carry around visa signatures and Amex's, nonetheless I think I've learned a lot since my bankruptcy and hoping to build back above where I was in the coming years.