PenFed Credit Cards

PenFed Credit Cards

 3.1/5 (64 reviews)

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Overall Rating3.1 out of 5
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About PenFed Credit Cards

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Page 1 Reviews 0 - 10
Verified Reviewer
Original review: May 22, 2023

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.

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Verified Reviewer
Original review: April 6, 2023

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.

But what's even more ridiculous is that my car has been in the mechanic shop for a month right after purchase. The reason is that there are some problems with the car. I tried to explain to them, but it was difficult to even connect with the person in charge. This loan company seems to create a deliberately planned and legitimate scam. If you need a car loan, look for another company.

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    Verified Reviewer
    Original review: Feb. 28, 2023

    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?

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    Verified Reviewer
    Original review: Feb. 6, 2023

    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.

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    Verified Reviewer Verified Buyer
    Original review: Dec. 14, 2022

    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?

    2 people found this review helpful
    Verified Reviewer
    Original review: Dec. 7, 2022

    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.

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    Verified Reviewer
    Original review: Nov. 29, 2022

    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.

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    Verified Reviewer Verified Buyer
    Original review: Oct. 19, 2022

    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.

    2 people found this review helpful
    Verified Reviewer
    Original review: Sept. 30, 2022

    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.

    4 people found this review helpful
    Verified Reviewer
    Original review: Aug. 24, 2022

    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.

    I called the main number and they put me with a different loan officer who looked at my file and said they could do it, no problem - but the interest rate would be over 2x the amount it was literally 2 weeks earlier! What a racket! Alex ** had such a condescending attitude, I will never deal with Penfed again due to his ideocracy. He needs to get off his high horse and lose the attitude. When I had a heloc for over 15 yrs before, they took many months to close it - but I kept it at the time due to the rate. Do not recommend. Unless, you want to be ripped off, jerked around, and treated poorly.

    5 people found this review helpful
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    Pentagon Federal Credit Union Credit Card author review by Danni White

    Pentagon Federal Credit Union (PenFed) is a large American financial institution that has been around since 1935. It serves all fifty states and some international military bases. Along with other financial services, PenFed offers several Visa and American Express credit cards to members.

    • Power Cash Rewards Visa®: This rewards card earns you from 1.5 to 2 percent cash back on all your purchases, with no limit on how much you can earn. It also comes with a $100 bonus statement credit if you spend $1,500 in the first 90 days.

    • Platinum Rewards Visa Signature®: This card has no annual fee and allows you to earn five points per dollar spent on gas, three points per dollar on grocery and one point per dollar on everything else.

    • Travel Rewards American Express®: This card lets you earn five points per dollar spent on airfare and one point per dollar spent elsewhere. You can redeem for giftcards or a variety of products like luggage or toys.

    • Simple credit card options: If you prefer a card that is not a rewards card, you can choose from the PenFed Promise Visa® or the Gold VIsa®. The Promise card has no fees and was named the simplest card in America by credit.com. The Gold has no annual fees, foreign transaction or cash advance fees.

    • Digital wallet: You can connect your PenFed credit card with your smartphone and make quick, secure payments. Use Apple Pay, Samsung Pay or Android Pay to take the hassle out of carrying a physical credit card.

    by Danni White ConsumerAffairs Research Team

    As a member of the ConsumerAffairs research team, Danni White is committed to providing valuable resources designed to help consumers make informed purchase decisions. Danni specializes in content strategy and development, with over a decade of professional writing and research experience.

    PenFed Credit Cards Company Information

    Company Name:
    Pentagon Federal Credit Union Credit Card