PenFed is PenFun!

[Loquat]

As with any business there will always be people who are for or against a company.  The reason(s) a lender give you for denial can almost be whatever they please as long as it doesn't violate the law in regards to discrimination on the basis of race, color, religion, national origin, sex, marital status, age, or whether you receive income from a public assistance program.

If they stay within those parameters then the only thing we can do is pout, complain, shake our fist at the sky, and take our business elsewhere.  We don't have to like it, but there's nothing we can do about it.  If you feel you were wronged you can voice your opinion to the company via many outlets that we have available to us as  a customer.  We can also voice our opinion via social media...but what we can't do is force them to change their decision, their policy, or rules that they use to operate their instituion.  

Sure a lot of their reasons for denial may not make sense to us...but guess what, it doesn't have to.  If lenders could use reasons for denial such as "No!", "Because we don't want to", "Ha!", "Yea right", "You've got to be kiddin' me", "What where you smokin' when you hit the submit button", etc, I'm sure they would.  But they can't (not if they want to survive) and by law they have to provide us with some reason for denial, hence the generic responses that we, as consumers, may not like, agree with, or understand. 

If PenFed works for you great, if it doesn't go elsewhere.  As it's been said many, MANY times here on the forum, there are TONS of lenders out there...find one that works for you.  

[cjesser15]

I'll go ahead and pile on even though it's not strictly credit related at this point.  Something here might help someone else.

I opened checking and savings with Penfed a couple weeks ago.  My plan was to get the membership established first and then get the Pathfinder card and an auto loan in the near future.  I applied online and the website errored out multiple times during the process.  I got to the end and it failed to let me create my security code.  I called and the rep tells me "you're the 3rd person to call me with this issue in an hour". 

Got past that, but the next day I realized the website errors must have caused my application to double submit because I have 2 checking accounts and 2 overdraft lines of credit when I log in.  I email them and all they tell me is I have to wait until I get the debit cards in the mail to do anything. 

I got the survey and gave poor ratings in the appropriate areas.  They called me multiple times over the next couple days but always at times I was too busy to answer. 

I received debit cards for both accounts so I called them last Saturday.  The guy tells me "For future reference, always call instead of using our website".  He was helpful but I did lose about an hour of my Saturday sorting it all out and he did have to get a supervisor involved because he was unsure how to handle certain parts of it.  Other than still having both overdraft lines of credit still on my credit report, it appears I'm finally down to 1 account, 1 overdraft line of credit, and 1 debit card as I intended.  So we'll see how it goes from here.  

Anyway, not a good start.  Hope issues with their website aren't as common as their own reps make it sound....

[Anonymous]

It literally drives me insane when a representative from a company tells me to call in to apply or schedule an appointment, rather than fill out the application or request online. Nobody assumes the website will act stupid to the point where it's better to call in.