PenFed

[Stevewc]

If you're going to join Penfed, I would recommend getting their visa card. 5% off on gas and 2% off on groceries is a good deal.

I like the thought on the gas and grocery discount.
But I don't really need more cards.
Any more votes or thoughts on this issue?
Also, I didn't find an option on funding the account by ACH. They wanted a credit card so I stopped application and e-mailed them a question about it. Were any of you able to fund and open a new account without the credit card funding being used? I think the ACH method would be best, if possible and would establish my bank account link at the same time. Right?
Steve

 

[Darryl]

I think I took the hit 3 years ago and had a cash advance on the cc don't believe I've done that three times in my life, but I was anxious to get set up and get in on the 6% CD offer.
I use the penfed cc as my primary card 5% on gas is tough to beat they credit your account automatically each month. No games, no points expiring, no claim forms etc. etc...

 

[Stevewc]

I've started the process of opening my account at penfed and getting the new credit card. I stopped short on the application when I got to the fund it with my personal credit card. I then called them on the phone the next day and told them I would not do the funding in anyway that cost me a cash advance. The rep said (verbally) they had changed the process and that I would not be charged fees. So I gave her the card number and allowed it to go through.
We will see how it goes and will let you guys know.
Steve

 

[Sue J]

Good to know that they changed it.

 

[mn54]

This is exactly how I funded my account and there were no extra fees. I don't believe there was an option to fund it through a checking acct.

 

[Stevewc]

This is exactly how I funded my account and there were no extra fees. I don't believe there was an option to fund it through a checking acct.

It appeared that I could have written a paper check and used snail mail.
But I went the CC way.
Happy to hear you were not charged a cash advance on your card.
The Rep was quick to let me know they changed the system to avoid the extra charges.
They must have had lots of complaints in the past.
Thanks,
Steve

 

[haha]

This is exactly how I funded my account and there were no extra fees. I don't believe there was an option to fund it through a checking acct.

ACH from brokerage is how mine was funded, about a year ago.

 

[Stevewc]

Heres a little news on penfed that you all might find interesting:

USAA, PenFed join forces to offer more products - Navy News | News from Afghanistan & Iraq - Navy Times

 

[REWahoo]

Wow. A bank and a credit union forming a alliance, and 2012 is just around the corner. Coincidence?

 

[mickeyd]

I understand that PenFed and USAA have a new alliance that allows clients to cross-access each-others products. Not sure where I heard this, perhaps USAA sent me a message.