Pentagon Federal Credit Union (PenFed) Reviews

2.6 out of 5 stars
29 Reviews

From Account Holders in the last year


Application Process

3 out of 5 stars

Customer Service

2.5 out of 5 stars

2.5 5

Most Helpful Positive Review

Nov 30, 2016
lostdown Account Holder

Rates as reasonable, online process was simple and clean, their loan practices appear to be conservative, but that's ok, it brings consistency to members.  Approved for credit card with $10k limit, mid-700's credit score working on building up my credit.  Installed the iOS app, worked as expected, no issues.  I prefer to bank with organizations that support the military although overall, my highest loyalty is with USAA but I already have a card with USAA.

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Most Helpful Negative Review

Oct 15, 2016
Anonymous Account Holder

Had me resend same documents over and over and over for a HELOC. Never seen anything like this. Complete incompetence.

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These reviews were written by current and former account holders in the last year.

Aug 15, 2017
Poor at handling loan requests
Klixse Account Holder

I applied for a joint loan for my husband and I, and they replied days later, asking us to send additional info; my husband's SS number, driver's license, a utility bill, etc. Then, they took another few days to process the info before sending it to be processed. We waited over a week to be denied. They should run the info we give them first, decide if it's worthy of approving, and THEN tell us they need proof in order to continue. They wasted a week we could have been applying elsewhere.

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Aug 09, 2017
Greats rates. Poor customer service
Anonymous Account Holder

Car loan rates are still the best around. PenFed has been gradually deflating the credit card reward points from 5% (for food and gas) at the beginning of the program to slightly above 4% now, but still above the other banks. Customer service waiting time is at least 10 minutes no matter whether you call on weekend or workday. It discourages further communication to say the least. PenFed website claims Samsung Pay enrolment is a snap, but online enrolment is unavailable that is oxymoron to me. The snap requires a call to the customer service and 2 business day manual activation (3 days for me). However, no one will tell you until after more calls to the customer service. Note, Samsung Pay enrollment for Bank of America card took 15 seconds online. I have been with PenFed for over a decade and hope they do better.

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Aug 04, 2017
The worse
Anonymous Account Holder

They are commiting fraud and over stating their actual networth. 

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Aug 03, 2017
SCUM Company
Erixcredit Account Holder

This bad company led me on for over a month when applying for a HELOC (after giving preliminary approval)... They asked me for every possible thing they could, and I provided it all.  I have 850 credit, low D/I ratio, etc..  I provided them with a recent home appraisal for the collateral property, but they made me order an appraisal from them, then as a 'last step' ... I  payed them $500 for apprasial, then they denied me for no reason.  Didn't even communicate anything to me, I had to log into the account to see the 'denied' status.  BEYOND ****ED OFF.  Horrible company. 

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Aug 02, 2017
My favorite credit union.
missmusician10 Account Holder

I inherited PenFed from a family member, and I've never had a problem with them. In fact, I now have a checking account, a savings account and two credit cards with them and I've found them to be easier to work with and more reasonable than the bank I'd been banking with since college. So much so that I closed that traditional bank account and have stuck with PenFed and another credit union I inherited from my  dad. Customer service has never been a problem, and I was afraid it would be since getting to a branch isn't the most convenient thing in the world for me. But I've made it work, and I'm very happy.

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Jul 25, 2017
Anonymous Account Holder

applied for auto loan they kept asking for the sam thing over and over they must have people wih no brains at all took 7 weeks to say yes or no applied at wells faro was approved in 2 hours never go to this place dont see how they stay in bussiness

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Jul 20, 2017
Refinanced 2 cars
elvagabundo Account Holder

Refinanced both cars through PenFed.  Much lower rates and a simple process.   I linked my non-PenFed bank account to my PenFed account and use their website to make my monthly payments.

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Jul 06, 2017
Terrible people
Anonymous Account Holder

Pen Fed customer service is the worst I have seen. Just got off the phone with an employee who cut the phone on me. Rude people!!!. I have always been charged twice every month for my auto loan and anytime I called  I was always assured that the issue had been resolved, no one cared to troubleshoot the issue, until I spoke with the most  unsympathetic, impololite and ill mannered agent today who told me the refund would take 5 days as well (took over a week the last time). Worst company to do business with. Terrible people!!!

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Jul 05, 2017
Horrible, they are all about making money
Anonymous Account Holder

I don't understand how they have a Federal Credit Union liscense

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Jun 16, 2017
Great Products. Competitive APRs
RonBargarh Account Holder

I recently applied and got approved for their new 2% flat cashback credit card called PENFED Power Rewards Visa Signature Card. The only caveat is that a member needs to have an active Checking Account called Access America Checking (Requires a minimum monthly balance of $500 or Total monthly Direct Deposit of $500 to waive the service fee). It's an amazing card. I also have really low APR auto loan with PENFED. Also have a line of credit and another credit card with generous credit limit. Their Debit Card is surcharge free on the Allpoint Network too. 

Overall amazing products. Great Online Banking. Really good Customer Service on the Phone. Strongly recommend this credit union for all needs.

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