Penfed vs my existing credit unions

[Anonymous]

I'm not sure about PenFed.  I applied for 2 credit cards with them about 3 months ago.  They approved the first with a $16K limit.  The second card was disapproved at first so I called them.  They then approved the card for $500.  Yes, $500.  I questioned them on that and never got a response.  It took about 4 weeks before I got the cards.  I called to activate the card and was told that I needed to call customer service.  I called and was told that the cards were no longer approved.  I was given the infamous "Pyramiding" answer by the rep.  Tried to speak with the loan officer or UW but they would never respond. 

Maybe it was just my turn to be denied that week.  I cancelled all business with them at that point.

[Gmood1]

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@Anonymous wrote:

Says pulled Equifax.. My util is actually less that 10%, but that's what's showing on FICO since the rest hasn't updated yet.  I'll do a recon and see what they say since I'm going to switch my daily banking to them from Chase. Yes, over all positive to say the least.  I'll see what they say on a auto loan refi.

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For sure, very positive indeed! They'll auto refinance at the drop of a hat, with your scores. I refinanced my vehicle with them leaving Chase Auto in the dust! I also closed my bank account with Chase. If I could find a CU with a high yield savings account. I wouldn't even deal with a bank for everyday use.

[Anonymous]

Good to know they are slow sending stuff out before I move my banking to them i.e atm or check card.

[Anonymous]

Funny, have to mail paper app to get a debit card for checking...and I'm restricted on deposit access via the android app..guessing new account issue.

[nenuco]

@apco25- totally normal! Approved for Travel Rewards & Membership on Thursday and still can't deposit via iOS app. Seems to be a great CU to build a relationship with. At least many people here seem happy with them!

[Anonymous]

Indeed, glad to start a good relationship with them...really hear nothing but good about them on the forums.

[gingerflower]

Op Penfed is recon friendly. Send a secure message and ask to have the app manual reviewed and if they can take a second look at your app. .GL

[Anonymous]

I'll send them a msg tomorrow and see what they say.