Have had a credit card from PenFed for about 7 years and have never had a problem with them. It was always my favorite card. I paid off balances on three cards a couple months ago down to zero including PenFed and decided just to use their card only and they just lowered my credit limit from $12,000 to $2,000 for being a good customer and paying my balances down to zero, I have 100% excellent payment history and good credit and this is how they repay me, I'm canceling their card and will never use them again.

Worst card ever. They had a glitch in their auto pay and then dropped my credit score 100 points for a late payment despite admitting it was their fault on a recorded line. I had never missed a payment in 20 years with 700,000 available credit and now I have to deal with these idiots!

I have been a member of PenFed for about 5 years. In that time I have had a Gold card with a $12,500.00 limit. This card has never been over its limit, never missed a payment and not regularly used. In November of 2025 I made a large purchase with this card (almost $8000) for a home repair. About a week later PenFed decided to lower my credit limit to $7500.00. This would effectively lower my FICO score with the reduced available credit AND an over the limit report. It was a slick move by PenFed. Fortunately enough, I had enough funds to pay the bill in full before any further adverse consequences took place.

Worst credit card I ever had. Closing the account very soon. Lot of Technical issues and some customer representative are not helpful and passing the buck without giving the right information. Not recommending to get a card from this credit union. Navy Federal Bank is the best so far.

I have a "Gold Card" with PenFed - unfortunately. I used a couple of years back to get a 0% interest rate promotion. I paid the balance off a long while back - but kept the line open. A couple of weeks ago I got a message saying I had a balance due on the card - which was not possible. There was one transaction on the card for about $150 - it was to Amazon. I checked my Amazon account - this card was not in my Amazon wallet, I made no purchases / transactions in my Amazon account on the supposed date, nor any for the amount listed. I contacted PenFed's "lost and stolen cards" line - and they told me they started a case and it should resolve quickly based on the obvious details. I was told I'd get a contact in a few days.... but, nothing. PenFed's website has a "help" e-mail function - so I tried it, but I got a message saying I had to call instead.

I first talked with customer service who in turn had me call fraud department.. The gentleman in fraud had no time for me and said nothing he can do!!!! My card keeps being charged through Amazon, charges not made by me,,, 2nd time this happen,1st time very helpful, new cards, fraud claim made and yet to hear back on that case, now another, I'll be calling tomorrow to cancel cards! Then the good part.... stay on line for survey, at end, push 1 for seven, push 1 and it hangs up!!!!

Worst credit card in the planet!! Please beware!!! I had originally a checking account for some years, when they stopped doing business with sister branches and I could no longer get money without fees I closed the checking!! Then I had an original credit line 5k. It was increased twice over few years to 10k available balance. However once I completely paid down the balance and they couldn't steal interest anymore they dropped it to 700$!!!! My credit has been exponentially better. Paid off mortgage. Couple cars in last two years. Never had one late payment 30, 60, or 90 days in the last ten years!!!! Stay away unless you like donating interest!!!

I never used my PenFed credit card, but then a fraudulent charge of $239 appeared, and I successfully disputed it and asked to close/cancel the card. Then I kept getting notices for a balance still on the card of $20 late charges. For what? It's almost impossible to talk to a person there. I was told that a new card was issued to me even though I asked to close and cancel the new card. I can't talk to anyone about the $20 late fee and now it's turned into $40. I'm sick of trying to get this resolved. Seems like a scam. Would not go near them again.

Almost all positive. It helped me build up my credit score along with loans over time to over 800 but then it screwed me. I used to pay off my balance right away but thought carrying a balance was better. After a few months of making the minimum payments my credit score was just above 700. I know it’s easy for me to build back up but this is an inconvenience to me. Otherwise it has been very convenient with very low interest that competition has trouble beating.

Used credit card on 2 in flight meals. Per benefits on card, both were to be credited up to $100 per year. After many calls and receipts uploaded, both charges STILL not credited. This card is worthless, I cannot and will not use. Beware