Pentagon Federal Credit Union Reviews

I’ve been with them over a year. My initial credit limit was $5k. Over a year later I called for a credit line increase and I’m declined. I have perfect payment history with them and a high credit score. I have Amex accounts with $25k plus credit lines. I paid my account off and closed it same day. Plus their app/web performance is horrible! Sluggish and constant error messages. I’d bank at a place that doesn’t seem like it’s still stuck in the 90’s.

Being with PenFed a little over a year and I have had fake overdraft fees that required me calling to correct. They have rude customer service that talk over you and never get to your issues without wanting to transfer you. Upon changing my direct deposit all of the sudden overdraft fees coming in, I would consider this as the worst credit union ever.

Don't trust this bank, they do not protect your money. I lost my iPhone and Wallet and within hours notified them, provided police report and proof of new iPhone purchase and they still denied my claim with no reason as to why. I am shocked every other financial institution assisted me and was able to credit me back my stolen unauthorized fraudulent activity except PenFed. I would think twice before opening account with PenFed as they do not protect your money.

PenFed now requires 2-factor ID to login to your accounts. PHONE is the only option for verification. No phone access, no account access. We were given NO OPTION to select an email verification. If using desktop, IPAD or tablet, you need 2 devices just to log on to your account. Obviously these arrogant IT nerds do not travel often to areas with no or limited or costly phone access. Plus I am concerned there must be a significant security issue with this institution because none of my other online banks have this mandatory phone requirement to get a login code. After many years and with sizeable deposits, I will be diversifying.

I have the Penfed Platinum Visa for over 12 years. At the beginning, I was getting True 5% on Gas and 3% on grocery. Then things changed. While they continue to give the same cashback, when you try to claim your rewards they will deduct 5880 points for a $50 Visa. Which is 880 points or $8.80 extra. It's is way less than 5% or 3% redemption. This is deceiving business practice. You can still get some store gift card on sale, $50 card for around 5000. Buyer be aware.

Transferred money out of my local credit union to PenFed. Money came right out of my credit union but PenFed decided they want to hold the money for several days bouncing the check. Do not recommend using them, poor customer service.

I highly recommend NOT using this CU. I recently used PenFed CU for CDs and found that they are by far the worst (member unfriendly, staff incompetent, slow, and have the most exorbitant fees/penalties) credit union with which I've done business. And I have done business with several local and online financial institutions over many years. To close my CDs it took a ridiculous number of contacts (phone and email). I was given the wrong information more than once, my requests were not completed or not completed timely and several of the customer service people I communicated with were short and not at all helpful. It took close to a month to get my money! Again, I highly recommend NOT using this CU.

I have a been a member of this bank for 20 years but with all the updates and people on board with not experience or care has caused major problems for me. The new bill pay system has caused me to have to make payments myself that I otherwise wouldn't have to. They know it's not working properly and have not allowed the members to not speak with the bill pay department directly. This is terrible coming from the 2nd largest credit union. I mean the representative get on the phone and try to talk to you like you are a dumb and that you are the problem when it's PenFed. I am very disappointed in them..very! :-(

Literally PENFED is messing up my credit score! The payment method is outdated, the application is horrible and 70% of my payment get kicked back for "insufficient funds" no matter how much money I have in the account. It makes no sense and it takes a whole week for the payment to process? No more payment options? I don't have this issue with my other vehicles! They need to update the payment method and let the customer pay at the spot with their debit card AT LEAST! The late fee is extravagant and it should be like that if you have the funds. When you call, nobody knows what is going on, there is no use when they "leave a note" in the system. AND STILL WAITING for my debit card in the mail AFTER 8 MONTHS!

I never write reviews, good or bad but here goes. I did an early withdrawal on 2 CDs in November knowing and paying the early withdrawal penalties - no problem. For the next month I tried to set up an external account online to transfer my money to another institution. To set up a new account you log in and go to Link External Account. Once there you are presented with 2 options: Immediate Verification and Manual Verification. Using Immediate verification I enter all my financial institution info, respond to their validation text and then get this message: "Unable to Complete Request. We had a problem gathering the account details from your other Financial Institution. To register your account, either use the Manual Verification option, or you may attempt Instant Verification again later."