Penfed vs DCU.

[FixMyCredit1992]

Recently got approved for memberships there.

Now, I know my credit is no where near good enough to get anything, but wanted to get my "foot in the door" so to speak.

I can't really find much online about a comparison of the two, but I'm mainly looking for a comparison of:

1. Thier customer service.

2. How easy to get CLI's.

3. Auto, Home, and other loan rates.

[Revelate]

Can't speak to Penfed's customer service (I'm a member but never qualified for anything); DCU's has been fine albeit a bit slow occasionally.

The biggest difference between the two is DCU has a lot looser underwriting standards than Penfed; however, Penfed occasionally comes out with truly interesting mortgage products; auto loans it's hard to do better than DCU for the majority of people: Penfed sometimes is slightly better on rate, but you have to be a lot higher credit strata to obtain an approval in many people's anecdotal experience.  

[CreditUnionFan]

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@FixMyCredit1992 wrote:

Recently got approved for memberships there.

Now, I know my credit is no where near good enough to get anything, but wanted to get my "foot in the door" so to speak.

I can't really find much online about a comparison of the two, but I'm mainly looking for a comparison of:

1. Thier customer service.

2. How easy to get CLI's.

3. Auto, Home, and other loan rates.

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1. Both seem to offer good customer service. I've been a member of DCU for 17 years, and used several products. Penfed is always polite, courteous, professional, but their underwriting standards are higher so I have less reason to try to do business with them.

2. DCU's underwriting standards are easier than PenFed.

3. Both offer good rates. From time to time PenFed offers better rates, but DCU offers some great promtions too. It's nice to have your memberships with both and choose when you're ready for a particular product.

[bettercreditguy1]

I have Pen Fed, but don't know much about DCU. Pen Fed is extremely conservative. Credit limit increases are a Hard Pull and not very genreous. I received a $ 3,000 increase on my VISA card, requested by myself after two years,  barely putting me over a $10000,00, my lowest limit credit card I own. Customer service is excellent with great Auto rate 1.9%.

[Anonymous]

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@bettercreditguy1 wrote:

I have Pen Fed, but don't know much about DCU. Pen Fed is extremely conservative. Credit limit increases are a Hard Pull and not very genreous. I received a $ 3,000 increase on my VISA card, requested by myself after two years,  barely putting me over a $10000,00, my lowest limit credit card I own. Customer service is excellent with great Auto rate 1.9%.

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@Anonymous they ask for income Ver @ each loan?

[IncrsCredScore]

PenFed is great for auto loans.  And customer service is superb.

[ojefferyo]

I got in PenFed with a checking, savings, Platinum Rewards Visa and a PLOC. Everytime I have called them they have been very professional and the last time I spoke with them they offered me an auto loan but I declined. 

[Anonymous]

I too recently joined penfed, and am hoping it pays off once i'm done gardening and on the market for a mortgage! Its a shame their cli's are hardpull.. guess i wont be getting any from them. Is there any real benefit to being with a CU versus a standard commercial bank? Thank you in advance