PenFed Credit Cards

On April 19th, 2023, I applied for a credit card with PenFed and I was approved. I completed the additional paper work needed along with making a deposit to meet all the requirements. Today is May 22nd, 2023 and I have NOT received my credit card. After numerous calls on: April 28th, May 3rd, May 10th, May 19th, May 22nd, PenFed can't seem to get me a credit card. This has been the WORST 1st time experience with a credit union. At this point, I can NOT recommend doing business with this credit union. This is not a good way to start a banking relationship. I think I will need to take my business elsewhere at this point. Again, I can NOT recommend doing business with PenFed.

The customer service here is really the worst of the worst. Right after buying the car, I charged $350 for not having insurance for two weeks and it took my credit down 75 points. I found out about all this while checking up my credits. They have never sent me any notice and forced me to take out insurance, make a claim, report my credit, even though they had been making an auto pay out of my account every month for over a year.

Poor Training. I applied for a balance transfer credit card on 12/28. Didn't receive the card for 6 and a half weeks. It's been 8 weeks and my balance transfers haven't been completed yet. Every time I call I get plastic shortage, chip shortage, people whose card expired get theirs first. Now it's, "We don't see a balance transfer request. You have to start over." It's been more than 30 days so it doesn't qualify anymore. Is there a way to open an investigation on PenFed Credit Union?

I recently applied for a credit card with PenFed and was shocked to find out that they required a letter from my employer to verify my annual salary. This was extremely insulting and I believe it was due to racism. I make a good salary and I am appalled that PenFed would not take my word for it. I have never had to provide such a letter for any other credit card company and I feel that PenFed is discriminating against me based on my race. I will not be using PenFed for any of my credit card needs and I would not recommend them to anyone.

PenFed ordered my gold card on Nov 13 and on Nov 25 told me it wasn't sent because of production delay and ask if I wanted to pay to have it expedited. I declined. On Dec 3 I was told the card was mailed on Nov 30. Today I was told the mailing address didn't have the apartment number again they want me to pay or wait another 7 days. The card is on my credit report and I have not physically received it. Who does business like this?

Short term member with Penfed for about 3-4 months, applied for two credit cards and got approved. Would like a higher limit but will work on earning it over time and see. So far no complaints, the website seems shaky and outdated it would randomly kick me off the web after certain actions such as after finishing applying for a loan or credit product and I having to log back in. Other than some technicalities, no major complaints so far. This is also my 1st credit union. I hope to have a great experience and relationship.

I have been with PenFed for 20 years and never had a problem until now. My CC card transactions have not been updated since October 12th. Whatever platform or program they use is either flawed or they don't have the expertise to resolve problems in a timely manner. I was told that they (PENFED) did not have a time frame when this problem would be resolved. Transaction history between banks should be a no brainer. 6 weeks later I'm not even sure that my IT ticket has been reviewed. At one point my statements did not match the transaction history on their website or automated teller. My bank did a deep dive and informed me that this is all on the PENFED side. Both banks are comparable in their assets. This should be a normal to day to day transaction from one from bank to another and has turned into a very unreliable mess.

I've been banking with PenFed for a few year now, Have a auto loan with them and 2 credit cards. I participated in a sweepstakes they were having for 10k prize, entry of sweepstakes is contingent on applying for said credit card and get approved. I applied for the credit card and was approved. Date passes sweepstakes no announcement of winner, nothing on the website dedicated to the sweepstakes, nothing on the Penfed website, you call PenFed none of the representatives know if a winner was announced. So a month later after the sweepstakes ended no one at Penfed can tell if a winner was selected. It was a Scam to get people to apply for their new credit card. Never again! Banking with them is inconvenient because there are no branches or ATM nearby.

THEY WON'T LET YOU GET YOUR MONEY OUT OF YOUR ACCOUNT. I recently closed a $50,000 CD early and asked for them to transfer the funds to an external account I attached to the account. They told me they could not transfer the funds but could only transfer $5000. However, I could transfer any amount to my account. Also, if I paid them $25 they would wire the funds to the same account. What a ripoff. You have to pay to get your money out of your account. DO NOT BANK WITH PENFED. YOU WILL REGRET IT.

I applied for a HELOC on my house I recently bought. Keep in mind, I had been a PenFed customer for 15 plus years already with a prior heloc I'd closed out already due to selling my prior home a few months ago. Despite my busy schedule, I spent a lot of time sending in all required docs. Then, Alex ** spoke with me and said he couldn't do the loan due to lack of enough income. I explained for the 5th time I have both employer W2 and retirement investment income - where he had the documents already. Then that same day he said he was mistaken and he could do the loan after asking his loan department person. He then said I would need to wait for an email from his underwriter or other loan person. I waited two weeks. No email. Not in spam either. Then I called back and he said, "Sorry the loan is closed." He claimed he never told me he could do the loan which was a total lie on his part. He got very snippy and rude towards me.