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Penfed Promise Card No Longer Offered

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Penfed Promise Card No Longer Offered

I logged into my Penfed account today to request a CLI and the card was no longer listed under available products.   I then looked up Pen Fed cards products and the Promise Card is no longer listed.  Would PenFed still offer CLI on the card or do you think they would do a product change to another card.

Thanks

 

 

 

Message 1 of 9
8 REPLIES 8
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Community Leader
Super Contributor

Re: Penfed Promise Card No Longer Offered

Generally CLIs continue to be available to existing cardholders even if the card itself has been closed to new applications.

 

If you want a CLI, go ahead and ask for it.    Whether or not they decide to PC it later to a different product would for them be an entirely unrelated effort.



(10/2020)
FICO 8 (EX) 810 (TU) 805 (EQ) 794
FICO 9 (EX) 835 (TU) 822 (EQ) 828

$1M+ club

Artist formerly known as ColdFusion
Message 2 of 9
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Re: Penfed Promise Card No Longer Offered

I got the card in order to take advantage of the BT offers.  My only concern is if they are no longer offering the card how long before the offers stop.  At that point it becomes a sock drawer card,  in that case I would request a product change to another product.

Thanks

Message 3 of 9
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Community Leader
Super Contributor

Re: Penfed Promise Card No Longer Offered

I haven't heard anything about a status change for that card.  Penfed has shown before that they're willing to withdraw a card and only offer new applicants an updated version with different benefit structure while maintaining the benefits for existing cardholders (witness: Platinum Rewards) but there are many different possibilities here.

 

If anyone has either read something or been told something by a Penfed CSR posting it would be appreciated. 

 



(10/2020)
FICO 8 (EX) 810 (TU) 805 (EQ) 794
FICO 9 (EX) 835 (TU) 822 (EQ) 828

$1M+ club

Artist formerly known as ColdFusion
Message 4 of 9
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Moderator

Re: Penfed Promise Card No Longer Offered

When logged in (important), if you click Products & Rates, then Choose Your Product is it not listed there?  My Defender card is also no longer available, but I could still ask for a CLI on it through this screen and it does still have perpetual BT offers.  If it's not listed, you can still get a CLI (up to $50k max across all cards) by calling.

 

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Message 5 of 9
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Valued Contributor

Re: Penfed Promise Card No Longer Offered

@K-in-Boston 

I just did as you suggested:  logged in, clicked on Products and Rates, then Choose Your Product, and see only three cards listed:  Power Cash, Platinum Rewards, and Gold.  No mention of Defender, Pathfinder, Promise, or the old Cash Rewards (5% on gas) cards.  I have a Promise card.

 

My theory is that PenFed is gradually replacing the Promise with the Gold in the same way that Citi is replacing the Simplicity with the Diamond Preferred.  Promise and Simplicity both waived a lot of fees, and I think the issuers came to the realization that the fee waivers weren't profitable.

Daily Carry: PenFed Power Cash • NFCU Flagship • NFCU More Rewards • Chase Freedom Unlimited
Sock Drawer: PenFed Promise • NFCU cashRewards • Chase Freedom • Chase United MileagePlus • UNFCU Azure
Message 6 of 9
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Contributor

Re: Penfed Promise Card No Longer Offered


@Happygolucky1 wrote:

I logged into my Penfed account today to request a CLI and the card was no longer listed under available products.   I then looked up Pen Fed cards products and the Promise Card is no longer listed.  Would PenFed still offer CLI on the card or do you think they would do a product change to another card.

Thanks

 

 

When I go through my pre-approved offers, "Auto Loan" and "Credit Card" is listed. When I look at the offers, Promise is listed along with two other cards. This is not a pre-approval for a 2nd Promise, but a pre-approved CLI on my current Promise. Therefore, CLIs should still be available. A lot of times when a bank or credit union discontinue (or temporarily cease applications for) a card, existing cardmembers will still be serviced-the card type just is not available to new applicants. 

 

Bank of America, Chase and PenFed have all removed their entry-level, extended-time balance transfer promotion cards (BankAmericard, Slate and Promise) from their websites for application. Wells Fargo removed their secured Visa. It has been theorized by several people here that banks/financial institutions have temporarily (or permanently) removed those cards for application to mitigate potential losses due to the current financial environment. Why tempt people to transfer tens of thousands of dollars with very little hope of collecting fees or interest-or risk having those people include the account in a bankruptcy many months later. The theory makes sense to me. 

 

Also, as an FYI, PenFed has, in the past, allowed people to "PC" their cards; however, in reality it is a brand new card and your old card's limit gets used to open the new card. Account number and reported open date will change resulting in a hit to AAoA. 


 

Message 7 of 9
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Re: Penfed Promise Card No Longer Offered

Thanks that makes sense.  I don't have the option on any of the links to access the card for a CLI.  I will call PenFed later to see if they can process it over the phone with a HP or two...lol

Message 8 of 9
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Established Contributor

Re: Penfed Promise Card No Longer Offered

I don't see the Promise Visa on Penfed's website. Oddly enough though, the Promise Visa still shows up as one of the cards available on my SP offers. I assume I could still get it if I wanted to. 

Message 9 of 9
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