Does Penfed pull credit to open CD?

[trustee]

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.

 

[REWahoo]

They didn't when I purchased CDs last month.

 

[pb4uski]

Doubt it.

Sent from my KFJWI using Tapatalk HD

 

[powerplay]

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.

 

[Chuckanut]

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.

 

[Chuckanut]

You only have to unfreeze the credit reporting agency used by PefFed, not all three.

 

[wolfbay]

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.

 

[Live And Learn]

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
http://www.early-retirement.org/forums/f28/new-at-penfed-3-5yr-certificates-69476.html