PenFed Credit Cards

PenFed Credit Cards Reviews

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Overall Rating1.6 out of 5
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About PenFed Credit Cards Reviews

PenFed Credit Cards Reviews

ConsumerAffairs has collected 63 reviews and 266 ratings.

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Page 1 Reviews 0 - 10
Punctuality & Speed

Reviewed Aug. 24, 2023

Buyer beware of the shady practices of this bank institute! I am in the middle of a dispute with all three major credit unions for inaccurate reporting. I have been reported late (30-59 days) for the current payment (due on 10th) which have been paid and the upcoming payment (September 10th) as 30 days late. How? I have filed a dispute with the three major credit unions and was told the information reported by PenFed is accurate. PedFed reporting system is antiquated and should be updated or overhauled. This practice is unacceptable!

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Punctuality & Speed

Reviewed Aug. 22, 2023

This CU bought another CU that I was a member of since 1994 which was great; this one is terrible. I strongly advise against giving them any money. They have frozen my account 3 times in roughly 3 years, each time not providing a reason, nor even telling me when they froze it (not surprisingly I faced credit card late fees, etc). They just hide behind 'the anti fraud dept'. As someone else wrote, their 2FA system stinks; it is very inflexible and I have to upload IDs and utility bills (?! seriously, in 2023) to unblock the accounts. I know a lot of banking services can be poor these days but this outfit is shocking. I cannot wait to wire out every last penny this time.

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    Customer ServicePunctuality & Speed

    Reviewed Aug. 21, 2023

    Before place a hard hit on my credit I use the pre-approval tool that PenFed is now offering, which I thought was a great deal, for the customer to help keep the inquires down. However, the results show that I was pre-approved for all of their cards for different amounts, I called and spoke with a rep, and he stated, "You are approved. You will need to verify your income when they complete the application." I stated no problem.

    They have denied each application even though he suggested for me to verify that I would be approve for either one of them or they would pick which one if it was not the one, I applied for. This was a inquiry that they should not have placed on my credit report as I would not have applied if their tool would not have led me to believe I would be approve. Keep in mind I have paid off a 4-year car loan in 18 mos, have a credit card with them in which they have not ever consider for a credit line increase. Never late on credit card or car loan. Beware of the pre-approval tool as this company is a joke and should not be allowed to treat customers the way they do. To add my credit score is in the 700 range. No valid reason for a denial.

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    Reviewed June 28, 2023

    They lost my documents to open a new checking account for some strange reason. I already reported then to the CFPB and Trust Pilot. I don't recommend this company for the lack of disregard for one's private information.

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    Customer ServiceStaffProcess

    Reviewed June 3, 2023

    I am blocked from my own savings account, (my life savings) and after several weeks and countless phone calls and documents sent, I still do not have access to my own money. I requested a redemption of my share certificates on Thursday May 25 and only 20% of the money was deposited into my savings account. The rest was reinvested into more CDs … Without my authorization. After this frustrating ‘error’ was solved on May 30, I tried to link my savings account to wire my money to my Citibank account on May 31. On June 1, I was told by two security specialists (after a series of several detailed questions regarding identity and double verification phone calls) that the money would be wired immediately and the wire fee would be waived. Later on June 1, while checking on the wire transfer, I tried to open my PenFed app and discovered that I was blocked from my own account.

    I have spent ALL DAY today talking to representatives who connected me to fraud specialists, security team members- and I have sent SEVERAL documents verifying my identity … To no avail!! I have sent the following:
    1. Driver's license
    2. Selfie with my driver's license
    3. Social security card

    4. Aetna insurance bills addressed to me and sent to my mailing address on file

    For address verification, I sent….
    5. My aunt’s driver's license with the mailing address on file
    6. My aunt's car registration with the address on file

    7. My aunt's utilities bill with the address on file

    (I live in the US half of the year and Spain the other half. My US mailing address is at my aunt's house.) I was never told this would be a problem when I opened my savings account and CDs. In fact, that process took a total of 5 minutes. These are my life savings. I WANT MY MONEY BACK.

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    Customer Service

    Reviewed 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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    Reviewed 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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    Reviewed 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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    Reviewed 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 purchase

    Reviewed 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?

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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