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Old 08-24-2010, 07:22 PM   #21
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Unless they have discontinued it, they have been giving a .25% bump on renewing CD's for a year or more.You would need to call a CSR to verify, but it would make this offer only a a .25 increase over your renewing CD.

This may or may not change how you look at it.

HTH
Interesting, I did call and they CSR quoted the same rate as were on the website.
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Old 08-24-2010, 08:40 PM   #22
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So anybody see the downside to borrowing mortgage money from Penfed at 3.875 (10 year mortgage) and than depositing it at 5%??
At one point in 2007 we had a PenFed car loan at 4.99% and a CD at 6%.
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Old 08-24-2010, 09:37 PM   #23
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Interesting, I did call and they CSR quoted the same rate as were on the website.
Did you specifically ask about the 1/4% bump on a renewing CD (if memory serves, it may have had to be 3 yr or longer), or did you just ask the rate?
I renewed in March and it was applied automatically.I had called before renewing to verify.
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Old 08-24-2010, 10:46 PM   #24
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I had a Penfed HEL at %4.99 at the same time as the 6% CD. Sadly I didn't invest it all in the CD most was put in high quality bank stocks like BofA in 2008...

Good info to know Dave I still have 6 weeks to decide so I'll keep the renewal bonus in mind, if things change. Really this has been the most productive day reading the ER forums in quite some time
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Old 08-25-2010, 12:41 PM   #25
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I did 100K for January for 10 years.

Pen Fed gave me a hard time and told me I could not participate because I diidn't have a CD expiring in Oct.. I didn't see any disclaimer to this fact and called back later and the next rep said the same thing to me. She put me on hold and after a while came back and said I was good to go but they are not publicly announcing it.

I don't know what that means when it's on their website. At least I'm locked in.
I called and they quoted the offer to me with the pertinent phrase "from an existing CD which matures in October." Since I don't have one I struck out. I mentioned that I had personal knowledge of some who did not meet that criteria so I was put on hold when she checked. Came back with the same answer......Best they would offer is the 7 yr 3.75 rate.

2fer
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Old 08-25-2010, 01:40 PM   #26
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Did you specifically ask about the 1/4% bump on a renewing CD (if memory serves, it may have had to be 3 yr or longer), or did you just ask the rate?
I renewed in March and it was applied automatically.I had called before renewing to verify.
I had a couple other questions, so I called in and the 1/4% bonus for renewing a CD is NO LONGER in effect!!!!
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Old 08-25-2010, 02:23 PM   #27
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I called and they quoted the offer to me with the pertinent phrase "from an existing CD which matures in October." Since I don't have one I struck out. I mentioned that I had personal knowledge of some who did not meet that criteria so I was put on hold when she checked. Came back with the same answer......Best they would offer is the 7 yr 3.75 rate.

2fer
Just apply for it online as I did. I do have cd's with them, just none maturing until 2012. If you have none at all, that might be the difference. Here is my confirmation I received via email.
Attached Files
File Type: txt penfed.txt (380 Bytes, 24 views)
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Old 08-25-2010, 04:01 PM   #28
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Originally Posted by two4theroad View Post
I called and they quoted the offer to me with the pertinent phrase "from an existing CD which matures in October." Since I don't have one I struck out. I mentioned that I had personal knowledge of some who did not meet that criteria so I was put on hold when she checked. Came back with the same answer......Best they would offer is the 7 yr 3.75 rate.

2fer
Do as Dawg did and just apply on line.

No need to call you'll get an email with the conformation.
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Old 08-25-2010, 05:40 PM   #29
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I do have a CD maturing in October. I didn't get an invite but found the link on their site and signed up for the 10yr online for more than my maturing amount. Received a confirmation on the higher amount specifying to have funds in my share account for the Jan transaction date.
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Old 08-25-2010, 05:54 PM   #30
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Link?

Where did you find the link on their site? Am not seeing it (even after logging in.)
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Old 08-25-2010, 06:37 PM   #31
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Read the 1st few posts of the thread.
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Old 09-05-2010, 01:29 PM   #32
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Is this dead? The link that I viewed this offer is not now on the certif. options page when I log in.
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Old 09-05-2010, 04:44 PM   #33
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I do not have an account with PenFed yet. Is there any way to get on this offer in this situation?
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Old 09-05-2010, 04:52 PM   #34
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I do not have an account with PenFed yet. Is there any way to get on this offer in this situation?
No, as I understand it you must have a certificate with them now in order to be eligible.
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Old 09-05-2010, 07:51 PM   #35
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I have an account with PenFed and have several CD's with them but the promotion doesn't show up for me so I'm assuming that they either fixed the website or it's not showing up because I don't have a CD maturing in October (or whatever their criteria is). If I had the option, I'd definately take advantage of it.
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Old 09-06-2010, 09:27 AM   #36
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Click on an existing reserved CD, if you have one, and you will be taken to the reservation webpage. That is the only way I can now get there.
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Old 09-06-2010, 02:08 PM   #37
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He who hesitates is lost. Like me.
I saw the offer when it was first pointed out, but I can no longer see it.

[sigh]
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Old 09-06-2010, 09:35 PM   #38
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I have an account with PenFed and have several CD's with them but the promotion doesn't show up for me so I'm assuming that they either fixed the website or it's not showing up because I don't have a CD maturing in October (or whatever their criteria is). If I had the option, I'd definately take advantage of it.
If you click on an existing CD (of any maturity) or click the + sign in the little square box, it will expand and show additional details and options...click on "certificate options" and you should see "Certificate Reservations" in an orange box to the right of the page.

As of awhile age $170M of the original $240M is still available.
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