Updated 3.11.19: PENFED'ers, You'll Love This One

[FinStar]

---

@Anonymous wrote:

I don't know if this has been stated yet, since I did not read every post. But, rule of thumb, Credit Unions do NOT do product changess on cards. They will close the card you are changing and open a new acct for the new card. You may not get always get a HP, but you will get hit on the new account. Rememebr this. Write it down. It is typical CU policy. 

---

@Anonymous, this is actually not entirely accurate.  While this may apply in many circumstances for the likes of PenFed and other CUs that implies a blanket statement for all, which isn't the case.  Three local CUs were able to PC to different versions without having to open a new account.  Alliant, is another example which PC'd my Platinum card to the Visa Signature version, kept the history and all.  Other members I'm sure have had success in the past. I believe this can be done with NFCU, IIRC. 

So, before making any blanket statements, let's gather some solid DPs first.

[AverageJoesCredit]

I think Navy would disagree with that statement @Anonymous.

[Anonymous]

I stand corrected. Sure seems to be the general rule for all the CUs I have been in though. Definitely research. YMMV.

[Flex1]

Like a few others have mentioned... "I don't trust them". Navy Federal is amazing. USAA is okay. No need for PenFed for me.

[RonM21]

---

@Flex1 wrote:

Like a few others have mentioned... "I don't trust them". Navy Federal is amazing. USAA is okay. No need for PenFed for me.

---

I have to agree about Navy.  Out of the 3 CU's I have accounts with (Alliant, Penfed, NFCU), I do like them the best.  But that is based on our personal experience.  I'm sure there are those out there who may feel otherwise. 

[Guyatthebeach]

This doesn't surprise me at all at PenFed.  I like them as a credit union. They have been good to me but I just never really trusted them.  

It's an interaction like this that confirms my feeling on them 

Guyatthebeach

[RonM21]

---

@Guyatthebeach wrote:

This doesn't surprise me at all at PenFed.  I like them as a credit union. They have been good to me but I just never really trusted them.  

It's an interaction like this that confirms my feeling on them 

Guyatthebeach

---

It is unfortunate and maybe more of a miscommunication and isolated incident.  Not sure.  But you aren't the first one that I've seen say that they have trust issues with them.  And as I said before, I am certain there are those who would say the opposite. 

[RonM21]

So, I finally have an update or resolve to this whole thing.  After not hearing anything in January and just accepting this would be the situation, Penfed reached out to me in Febraury.  The woman told me they were lookng into this for a while and have determined this was an "error on their part" and a "misunderstanding."  She went on to inform me that I could keep things as they were OR she could fix everything and put it all back the way it was before this, except still give me the increase on my Cash Rewards.  This is what I chose. 

What happened:   I paid any balance left on my Promise Visa and alerted them. They then not only closed the Promise Visa, but they removed it from all 3 of my credit reports.  They reopened the closed Cash Rewards and included the prior history as well as gave me credit for the two months it was closed.  That card arrived a couple of days ago and works fine.  I am still waiting for it to report as "Opened" and current on my reports.  Then, the initial increase I thought I could get in the beginning, they added that to this account.  As you can see in my signature, I removed the newly added Promise Visa and put back the Cash Rewards. 

I'm appreciative of them working on this for me and after some time, it did work out. 

[Anonymous]

Wow. For everyone dissing Penfed. Rewinding the entire episode and putting the SP increase on the CR card is pretty good customer service if you ask me. Glad it worked out for you OP!

[Merlin3482]

Thank you for the update on the situation. This was some really good info. Congratulations on getting everything worked out!