If you’re a travel aficionado and you’re already a PenFed Credit Union member, this card may be a good choice for you.But in addition to that, we’d recommend this card if you’re a military member (specifically, “active duty, reserve, honorably discharged, or retired”) or if you already have an Access America checking account with PenFed. I asked to speak to a manager and was on hold forever, I finally hung up. There are no monthly service fees as long as you maintain at least $500 in the account. This compensation may impact how and where products appear on this site, including, for example, the order in which they appear within listing categories. The PenFed Power Cash rewards card is a military card, which means that cardholders who are not current or former military members may have a harder – though not impossible – time getting this card. That is just not right. Cant beat it! The application was easy, customer service always frendly and willing to help, they always offer balance transfer fo 4.99% without balance transfer fee. Thanks . Privacy Policy. Use this card while traveling abroad, since it doesn’t charge a fee for foreign transactions. Product name, logo, brands, and other trademarks featured or referred to within (Note that current and former military members qualify for the higher rate without a checking account.). We are continually improving the user experience for everyone, and applying the relevant accessibility guidelines. So I applied with a 760 Fico I have never been denied for a credit card I have 12 different credit cards all around 10K limits highest at 34K and only one card has a balance of 5000 on my NAVY FCU because they offered 0% for a year so I transferred my auto loan on to my credit card. Power surveys for credit-card satisfaction. Good luck! Any idea how long do they take for a decision. Updated: Dec … The PenFed Power Cash card does not charge a fee for foreign transactions – a rare feature for a no annual fee card. Get essential reads every week with our newsletter. Credit card products: In addition to simple debit and credit cards PenFed has rewards cards and military credit cards. I personally had no issues with PenFed. Penfed has it posted on their site for USAA auto insurance for their members. A top-notch travel rewards credit card, the PenFed Premium Travel Rewards American Express® Card is worth a look. For those that say don't bash Penfed if they don't approve you for a card when you have high 700's low 800 fico have issues. The guaranteed cash back rate is 1.5% on all purchases with the option to earn as much as 2%. San Francisco open up your golden gate! This makes the card a great value for military members – and other card members – who spend a lot of time overseas. The no annual fee PenFed Power Cash Rewards card offers a $100 statement credit to new cardholders who spend $1,500 in the first 90 days. Other cardholders who meet the general eligibility requirements for PenFed membership can qualify for the 2 percent rate if they sign up for an Access American checking account. Get your Shell gas card which gives you 5% cash back. Pentagon Federal Credit Union Credit Card author review by Beverly Harzog Pentagon Federal Credit Union (PenFed) is a large American financial institution that has been around since 1935. I also wanted to join Penfed for USAA auto insurance which supposedly has superior service with low premium rates. Anyway, I say try PenFed out if you're looking for a good credit union. limit, which is more than all my other credit cards combined. PenFed Promise Visa Card Review. She told me because you have a balance showing you have perfect history but we don't like to see a a high balance I told her my debt to credit is less than 5% I have a balance of 5K but have available 140K She said we are very picky with lending so I said never mind and canceled my account. FYI for USAA insurance quoted under military discount 115 a month for all 3 of my cars. Hope this is clear. This compensation may impact how and where products appear on this site, including, for example, the order in which they may appear within listing categories. PenFed Gold Visa® Card Review. Auto loans: The credit union has loans for new, used and refinanced vehicles. Verified Customer. The PenFed Platinum Rewards Visa Signature® Card is a good rewards credit card that’s kept from excellence by a few manageable flaws. Because of the five-year expiration, PenFed Power Cash card members will need to pay attention to make sure they don’t lose any of their cash back. As with any credit card, the best PenFed credit card for you will revolve around your specific financial situation, credit habits, and needs. Now my CL limit after 3 years is 38K don't have go with PENFED or USAA Bank both are not lender friendly and horrible rates. Ed. Neither the Citi Double Cash card nor the Fidelity Rewards Visa Signature card includes a sign-up bonus, so this feature gives the PenFed Power Cash Rewards card an edge over those two cards. California loans arranged pursuant to Dep't of Business Oversight Finance Lenders License #60DBO-78868. This has nothing to do with me not wanting to support our military. ... PenFed Credit Union Review. Also, the PenFed Power Cash Rewards cards comes with a very low interest rate, making it a particularly great value. I was reading about Penfed's reward card. Trying to call "customer service" is as bad as going to the dentist. However, all credit card information is presented without warranty. PenFed Promise Visa Card is a credit card issued by PenFed Credit Union. Also, as mentioned above, card members – with the exception of current and former military members – must enroll in an Access America checking account in order to receive the 2 percent cash back rate. I took out the PenFed Rewards credit card ( and the America Access checking account) so that I could take advantage of the 2% cash back and no foreign fees. 6 Reviews. I understand that this is not an application for credit and that, if I wish to apply for a credit card with any participating credit card issuer, I will need to click through to complete and submit an application directly with that issuer. The purpose of a bank is to hold my money but at the same time I feel if I would like to take advantage of offers I would like to have a bank that lends to good credit applicants. Complaints about it being as slow as the old modem dial-up days falls on deaf ears. You already have a savings or checking account with PenFed. Your credit cards journey is officially underway. Had no trouble getting card pay your bills on time! The offers that appear on this site are from companies from which CreditCards.com receives compensation. By providing my email address, I agree to CreditCards.com’s CreditCards.com does not include the entire universe of available financial or credit offers.CCDC has partnerships with issuers including, but not limited to, American Express, Bank of America, Capital One, Chase, Citi and Discover. Very low interest rate: When you apply for the PenFed Gold Visa Card, you have a chance to qualify for a 7.49% variable APR.This APR is not only well below the average, it is among the best rates of any credit card. Please call Member Support at 833-675-0553 or email legal@creditkarma.com. In my first month I earned 42.47 dollars in cash back and I had the account set up to auto redeem the cash rewards into America Access account. When you click on There are tens of thousands of banks out there that will approve or deny you; it's not fair to go off about the cost of becoming a member when it's very obvious you have to do so. Join today — it’s free! Pentagon Federal Credit Union. They said no, it's only for military. If you're wondering whether PenFed Promise Visa Card is the right card for you, read on. We’re sorry, but something went wrong and we couldn’t find your approval odds. PenFed Power Cash Rewards Visa Signature® Card review. Credit Karma® is a registered trademark of Credit Karma, LLC. Credit Karma receives compensation from third-party advertisers, but that doesn’t affect our editors' opinions. Use this card for all of your purchases, since the general rewards rate is high. However, logging on and navigating the web site is painfully slow. I entered what little info that wasn't already populated in the application from my enrollment info and lo and behold I got an instant approval for a $13,000(!!!) That means you’ll probably want to use another rewards credit card for purchases outside of those categories. Ignore the naysayers and give PenFed a shot. It's about fraudulent behavior by Penfed. This site may be compensated through third party advertisers. In addition to PenFed checking and savings accounts, members can also access home, car, credit card… That's like saying you're ****ed at TImeWarner Cable for airing all those BMW commercials for low leases, but then BMW denied you a loan). This in itself is a high rewards rate, and may be a good incentive for current customers of PenFed credit union to spring for a new card. Cardholders seeking to finance a new purchase may be better off finding a card with a 0-percent APR. The top Pentagon Federal Credit Union credit cards highlighted by our review are split into two different options: a PenFed rewards card or a traditional PenFed card. I saw that you could get 5% cash back for gas all the time so I was interested in this account because I currently use my chase and discover for cash back but that cash back is not yearly. PENFED and USAA come go done in flames!!!!!!!!! Unless you are an Honors Advantage member, your cash back can be redeemed only as a statement credit or a deposit into a PenFed account. Enroll in an Access America checking account to qualify for the card’s 2 percent cash back rate. Also, rewards expire after five years. Benefits of a PenFed Rewards Card However, some cardholders claim that PenFed limits your credit limit across all cards to $50,000. The information, including card rates and fees, presented in the review is accurate as of the date of the review. Our marketing partners don’t review, approve or endorse our editorial content. Other Notable Features: No foreign transaction fees, EMV chip, PenFed Digital Wallet, Visa Signature benefits. Think of all the money they are making if everyone contributes $5.00 to their bank and then $15.00. This means if you have two PenFed credit cards with a $25,000 credit limit each, you may not be able to get a third PenFed credit card. You want a great rewards card with no annual fee and reasonable rates and fees overall. I said I have a credit score higher the 75% of the people in America what do you mean its too low. Also, generally, cash-back credit cards are excellent options for people who pay their credit card balances in full each month. Apple Store mobile app rating: 4.2/5. While there are many points-based cards that offer a 2 percent rewards rate, a 2 percent cash back card is a rare phenomenon. With using this site are from companies from which CreditCards.com receives compensation PenFed. 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