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Penfed Balance Transfer

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gingerflower
Senior Contributor

Penfed Balance Transfer

Hello FICO Friends I got a Balance transfer offer from Penfed so I decided to transfer 2 Cc's . I was only able to do 1 balance transfer because its 1 balance transfer per day. I don't understand normally it says do you have another balance transfer to complete. I guess I have to go back to account and do the second transfer tomorrow.  Weird! Anyone ran into this situation?

Message 1 of 8
7 REPLIES 7
SouthJamaica
Mega Contributor

Re: Penfed Balance Transfer


@gingerflower wrote:

Hello FICO Friends I got a Balance transfer offer from Penfed so I decided to transfer 2 Cc's . I was only able to do 1 balance transfer because its 1 balance transfer per day. I don't understand normally it says do you have another balance transfer to complete. I guess I have to go back to account and do the second transfer tomorrow.  Weird! Anyone ran into this situation?


Yes a few months ago they started limiting me to 1 balance transfer a day.

 

I didn't know if it was a general rule, or if it just had to do with me.

 

The shame is that for years I was struggling through their antiquated balance transfer software, wasting lots of time on it. Now that they've fixed their balance transfer software, I can't take full advantage of it.


Total revolving limits 568220 (504020 reporting) FICO 8: EQ 689 TU 691 EX 682




Message 2 of 8
gingerflower
Senior Contributor

Re: Penfed Balance Transfer

@SouthJamaica 

Thank you for the reply.  Gosh, I to thought it was me.. I guess I would have to do the second balance transfer tomorrow. 

Message 3 of 8
SouthJamaica
Mega Contributor

Re: Penfed Balance Transfer


@gingerflower wrote:

@SouthJamaica 

Thank you for the reply.  Gosh, I to thought it was me.. I guess I would have to do the second balance transfer tomorrow. 


Well, we don't know yet that it's a general rule. We just know that you and I are in this boat Smiley Happy


Total revolving limits 568220 (504020 reporting) FICO 8: EQ 689 TU 691 EX 682




Message 4 of 8
gingerflower
Senior Contributor

Re: Penfed Balance Transfer

@SouthJamaica 

I sent a secured email address today to Penfed to ask more information on the changes of doing more then 1 balance transfer per day but haven't got a reply yet. Hopefully I get answers tomorrow. 

Message 5 of 8
gingerflower
Senior Contributor

Re: Penfed Balance Transfer

@SouthJamaica 

Update:

I got a reply from Penfed and it seems as of 11/2022 Balance transfers are limited to 1 per day...Oh well...

Message 6 of 8
SouthJamaica
Mega Contributor

Re: Penfed Balance Transfer


@gingerflower wrote:

@SouthJamaica 

Update:

I got a reply from Penfed and it seems as of 11/2022 Balance transfers are limited to 1 per day...Oh well...


Well it's comforting to know that you and I haven't been singled out for punishment Smiley Happy


Total revolving limits 568220 (504020 reporting) FICO 8: EQ 689 TU 691 EX 682




Message 7 of 8
gingerflower
Senior Contributor

Re: Penfed Balance Transfer

@SouthJamaica 

Yes thank goodness! 😊

Message 8 of 8
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