Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
Does Penfed pull credit to open CD?
Old 01-05-2014, 05:56 PM   #1
Dryer sheet wannabe
 
Join Date: Dec 2013
Posts: 14
Does Penfed pull credit to open CD?

I tried looking on their website but did not see anything. I know some banks do this. I ask because I recently placed security freezes on my credit reports due to personal information being stolen from my doctors office and it would cost me 3x$10 to unfreeze them to open an account.
__________________

__________________
trustee is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 01-05-2014, 06:04 PM   #2
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
REWahoo's Avatar
 
Join Date: Jun 2002
Location: Texas Hill Country
Posts: 42,134
They didn't when I purchased CDs last month.
__________________

__________________
Numbers is hard

When I hit 70, it hit back

Retired in 2005 at age 58, no pension
REWahoo is offline   Reply With Quote
Old 01-05-2014, 06:58 PM   #3
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
pb4uski's Avatar
 
Join Date: Nov 2010
Location: Vermont & Sarasota, FL
Posts: 16,461
Doubt it.

Sent from my KFJWI using Tapatalk HD
__________________
If something cannot endure laughter.... it cannot endure.
Patience is the art of concealing your impatience.
Slow and steady wins the race.
pb4uski is offline   Reply With Quote
Old 01-05-2014, 07:04 PM   #4
Thinks s/he gets paid by the post
powerplay's Avatar
 
Join Date: Oct 2008
Posts: 1,380
Yes they did when I opened an account with them in December.
I also received a notification from a credit monitoring service that I have a subscription with so apparently that process works as expected.
__________________
powerplay is offline   Reply With Quote
Old 01-05-2014, 07:24 PM   #5
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Chuckanut's Avatar
 
Join Date: Aug 2011
Location: West of the Mississippi
Posts: 6,337
They do when you first open an account. If they can't your account functions like transferring money between banks are very limited. After that, you can open CDs without having to thaw the freezes.
__________________
The worst decisions are usually made in times of anger and impatience.
Chuckanut is offline   Reply With Quote
Old 01-05-2014, 07:25 PM   #6
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Chuckanut's Avatar
 
Join Date: Aug 2011
Location: West of the Mississippi
Posts: 6,337
You only have to unfreeze the credit reporting agency used by PefFed, not all three.
__________________
The worst decisions are usually made in times of anger and impatience.
Chuckanut is offline   Reply With Quote
Old 01-06-2014, 04:14 PM   #7
Recycles dryer sheets
 
Join Date: Mar 2007
Posts: 101
We just opened an account and they did a credit check. Is there any catch to the 5yr CD paying 3%? Even though rates are low it's still double the local bank rate. Sounds almost to good to be true.
__________________
wolfbay is offline   Reply With Quote
Old 01-07-2014, 09:40 AM   #8
Thinks s/he gets paid by the post
Live And Learn's Avatar
 
Join Date: Feb 2012
Location: Tampa Bay Area
Posts: 1,689
Quote:
Originally Posted by wolfbay View Post
We just opened an account and they did a credit check. Is there any catch to the 5yr CD paying 3%? Even though rates are low it's still double the local bank rate. Sounds almost to good to be true.
you forfeit a years interest for early termination. there's an entire thread on the PenFed 5 yr 3% CDs
New at PenFed - 3% 5yr certificates
__________________

__________________
"For the time being no discipline brings joy, but seems grievous and painful; but afterwards it yields a peaceable fruit of righteousness to those who have been trained by it." ~
Hebrews 12:11

ER'd in June 2015 at age 52. Initial WR 3%. 50/40/10 (Equity/Bond/Short Term) AA.
Live And Learn is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


 

 
All times are GMT -6. The time now is 02:15 AM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.