Pentagon Federal Credit Union (PenFed) Reviews

2.9 out of 5 stars
24 Reviews

From Account Holders in the last year

ADDITIONAL RATINGS YOU MIGHT FIND HELPFUL

Application Process

3 out of 5 stars

Customer Service

2.5 out of 5 stars

3 5
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Most Helpful Positive Review

Sep 15, 2017
Best rates, easy process, builds with yo
brandonldiaz Account Holder

I started at this credit union with the following from two years ago:
2k limit credit card cash rewards - 5% gas rewards cash back
5k limit Platinum rewards
10k personal line of credit
500.00 overdraft line

As of today I now have the following limits with them:
10,500 cash rewards at 9.99% -5% gas rewards cash back
20,000 personal line of credit at 9.99%
20,000 Platinum rewards limit at 9.99%
Still 500.00 od limit.

This is hands down the best credit union ever. If you don't require servicing and know how banking works this is for you. If you need hand holding and someone to talk to on the phone go for a national bank that will baby you.

This cu is the best ever. Even cash access is easy if you need it. Deposits? Just use their free mobile deposit.

I've never had to step into a bank... My life is digital now and my bank of choice is pfcu

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Most Helpful Negative Review

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

Oct 18, 2017
Great!
Joey671 Account Holder

awesome!  I applied for a consolidation loan and a platinum signature credit card! Approved in 5 minutes with great rates! My exp score was 718 when applied with a limit of 20k.  I highly recommend it!

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Sep 15, 2017
Best rates, easy process, builds with yo
brandonldiaz Account Holder

I started at this credit union with the following from two years ago:
2k limit credit card cash rewards - 5% gas rewards cash back
5k limit Platinum rewards
10k personal line of credit
500.00 overdraft line

As of today I now have the following limits with them:
10,500 cash rewards at 9.99% -5% gas rewards cash back
20,000 personal line of credit at 9.99%
20,000 Platinum rewards limit at 9.99%
Still 500.00 od limit.

This is hands down the best credit union ever. If you don't require servicing and know how banking works this is for you. If you need hand holding and someone to talk to on the phone go for a national bank that will baby you.

This cu is the best ever. Even cash access is easy if you need it. Deposits? Just use their free mobile deposit.

I've never had to step into a bank... My life is digital now and my bank of choice is pfcu

more ...
Aug 30, 2017
10k limit 710 credit score - approved
vaibhu Account Holder

Hi,

I applied for 'PENFED PREMIUM TRAVEL REWARDS AMERICAN EXPRESS® CARD'

So they approved for 10k for single card.Then i negotiated with them. 

They changed that card to two different credit card each with 5k limit.

The new approved two cards are 

PENFED PREMIUM TRAVEL REWARDS AMERICAN EXPRESS® CARD -5k

PENFED PLATINUM REWARDS VISA SIGNATURE® CARD-5k

My credit score is 710 based on credit karma.

more ...
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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1 Reply
Nov 03, 2017

I highly doubt you have an 850.

 
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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