How do I make a First Progress Platinum Prestige payment?

The easiest way you can pay your PenFed credit card is either online or over the phone at (800) 247-5626. Alternatively, you can pay through the PenFed mobile app, by mail or at a branch.

To pay a PenFed credit card bill online, log in to your online account and click on “Make Payment.” Then, choose how much to pay, when to pay it, and where the payment is coming from. PenFed allows cardholders to set up automatic payments, too.… read full answer

Ways to Make a PenFed Credit Card Payment

• By phone: Call (800) 247-5626 and enter your card information when prompted.
• Online: Log in to your online account and click on “Make Payment.”
• Through the mobile app: Download the app, log in to your account, select your card and click on “Make Payment.”
• By mail: Send a check or money order (but not cash) to:PenFed Credit UnionBox 247009Omaha, NE 68124-7009Make sure to send it early enough that it will arrive by the due date. Write your credit card number on the check, too.
• At a branch: You can make a payment at any PenFed branch during normal business hours.

The usual PenFed credit card approval requirements include an excellent (750+) credit score and proof of a steady income. Applicants must also be at least 18 years old and either a U.S. citizen or permanent resident.

Those under 21 years old will need to offer evidence of an ability to independently make monthly payments, too. PenFed credit union membership is also required in order to be approved for a credit card. Membership requirements and an application to join are available on the PenFed … read full answerwebsite.

Application requirements also include personal information such as your name, address and birthdate. Your Social Security number (SSN) or Individual Tax ID Number (ITIN) and U.S. citizenship status are also required. In addition, PenFed will review your credit history, your income and any debts you have. Your bank account information, monthly mortgage or rent payment and employment status will also be taken into account.

A credit card billing cycle is the period of time between two credit card statements, usually lasting 28-31 days. On the last day of a credit card’s billing cycle – also known as the closing date –the card’s issuer will compile the account’s billing statement. This includes a bill for all the charges made to your account during that billing cycle, minus any payments made. You can find the starting and ending dates for your credit card’s billing cycle on your monthly statement.… read full answer

Understanding your credit card’s billing cycle is important for a few reasons. First, it’s important because your statement balance – the amount you have to pay by the due date to avoid interest – is comprised of purchases made during the billing cycle. The statement balance also gets reported to credit bureaus each month and factors into your credit utilization.

Secondly, the start and end of a billing cycle determine when you have to pay for a given purchase or fee. For example, if you purchase a big TV the day before your statement closing date, you’ll owe that money on your next due date – usually about 25 days later, or however long your grace period is. However, if you buy the TV the day after your statement closing date, it will land on the next statement. So you won’t have to pay for the TV until that statement’s due date, which could be 50 or so days later. For those budgeting out big purchases, timing the purchase to get an extra few weeks to pay can make a huge difference.

Billing cycles are also important if you are taking advantage of a 0% APR intro period. These zero-interest periods are sometimes measured in billing cycles, rather than months. This difference can be worth calculating if the billing cycle is shorter than a typical month, and you are tracking how much time you have to pay off a purchase before the promotional APR period ends.