Pre-Approved offer from Penfed?

[Rogue46]

I've been a member for just over 3 years and haven't received any offers either by mail or the website. From what I understand the mailings are legit 

[gingerflower]

@Anonymous

  I would go for it and if you do decide Good luck! 👍

[M_Smart007]

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@Wavester64 wrote:

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@M_Smart007 wrote:

@Anonymous, PenFed Mailers have been very solid ..

I have read quite a few approvals from those.

I was approved through one last year.

Not trying to be a bad influence ... just DP's.

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(PenFed Mailers pre-approved mailer) <-- There's something I KNOW I will never get 

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@Wavester64, .. I never expected one either ..

also got a BBVA Clearpoints around the same time last year.

Both were approved.

#NeverSayNever

[frugal47374]

I received the PenFed offer today.  No request for a donation but have to have a $5 account as membership in the credit union.

Maximum 2% rewards (if I open another account, possibly a charge for it?, otherwise 1.5%) and 0% interest on a balance transfer which has an associated fee.

Not interesting to me.

[Gollum]

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@Anonymous wrote:

LIke the title suggests I'm curious if they send out these types of offers, because i received one in the mail Saturday for the Penfed Power Cash, and it says "You have been Pre-Approved* to earn unlimited cash back on every purchase!  I wasn't sure because of the way it's worded and I could be mistaken, and it might just be an invitation to apply. The APR is 14.99% 

While I'vehad several mail offers from regular banks, I don't recall ever getting one from a CU. I also always assumed that i was out of their footprint, though via google search they do have a branch about 240 miles away in Eugene.

I'm honestly conflicted on whether I should go for it or not

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Credit card offers through USPS mail have been decreased drastically recently:

"Some 74 million credit-card solicitations were mailed out in May, down from 316 million in February, according to Mintel Comperemedia."

https://www.foxbusiness.com/money/widespread-deferrals-banks-creditworthy .

It's your decision, of course, but I thought the recent USPS mail angle was interesting.

[UpperNwGuy]

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@Rogue46 wrote:

I've been a member for just over 3 years and haven't received any offers either by mail or the website. From what I understand the mailings are legit 

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Ha ha!  I've been a member since 1993 and have never received any offers from PenFed.

[Anonymous]

Thanks all for the DP's, definitely going to think on this one a while. The 2% doesn't kick in unless you also have their checking acct, and i already have plenty of those. As well as 1.5% CB cards. And if it's true that they stop offering Credit products once you join, I'm not too sure. lol

I still haven't decided on whether I'll follow through on a Mortgage this year, or wait till next year. Either way I need to remain app free for a little longer, as I'm not sure I want to wait a full 12 months to start the process. Interest rates being a factor and all. So these pre-approved offers aren't helping any!