Bogdan Roberts, Credit Cards Moderator
@bogdan_roberts
The PenFed Credit Union credit score requirement is 700 for all cards, which means that people with good credit or better have high approval odds.
If your credit score is below the threshold needed for a PenFed Credit Union credit card, it’s best to wait to apply until you meet the credit score requirement. You can check your credit score for free on WalletHub.
Credit Score Recommended by PenFed Credit Union Card
- PenFed Power Cash Rewards Visa Signature® Card: 700 (Good credit)
- PenFed Pathfinder® Rewards Visa Signature® Card: 700 (Good credit)
- PenFed Platinum Rewards Visa Signature® Card: 700 (Good credit)
- PenFed Gold Visa® Card: 700 (Good credit)
Note that while your credit score is very important, plenty of other things will impact your chances of being approved for a PenFed Credit Union credit card. Some other key criteria include your income, existing debt load, recent credit inquiries, number of open accounts, housing status, and employment status.
Finally, keep in mind that lenders might use a different score when deciding whether to approve you for a financial product and approval is never guaranteed.
Popular Military Credit Cards
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Travel Rewards
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Gas Rewards
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Low Interest
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Cash Back
People also ask
What are the PenFed credit card approval requirements?
The PenFed credit card approval requirements include having good credit (a 700+ 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 independent income, too. PenFed credit union membership is also required in order to be approved for a credit card. The membership requirements and the application to join are...
read full answer by Maria Adams, Credit Cards ModeratorHow can I get pre-approved for a PenFed credit card?
PenFed sends pre-approved card offers to potential applicants via mail or e-mail, and existing customers may receive pre-approval for a new card through their online account. To respond to a PenFed pre-approved offer, visit the website listed in your offer and enter the enclosed invitation code. This allows PenFed to flag the application as pre-approved.
PenFed pre-approval doesn’t guarantee that you’ll be approved for a card, but it does indicate that your chances of...
read full answer by Chip Lupo, Credit Card WriterWhat is the best PenFed credit card?
The best PenFed credit card is the PenFed Pathfinder® Rewards Visa Signature® Card. It offers 3 points per $1 spent on travel (4 points per $1 for Honors Advantage Members) and 1.5 points per $1 on all other purchases, and it gives 50,000 points for spending $3,000 in the first 90 days after opening an account. The card also comes with a $95 annual fee, and you need at least good credit for approval.
You can get the PenFed Pathfinder® Rewards Visa Signature® Card, or any other PenFed product, without being a member of the military. Membership in the credit union is now open to everyone for free.
Best PenFed Credit Cards
Initial Bonus: 50,000 points for spending $3,000 in the first 90 days
Ongoing Rewards: 3 points per $1 spent on travel (4 points per $1 for Honors Advantage Members) and 1.5 points per $1 on all other purchases
Annual Fee: $95
Credit Score: Good
Initial Bonus: 15,000 points for spending $1,500 in the first 3 months
Ongoing Rewards: 5 points per $1 spent on gas and electric vehicle charging stations, 3 points per $1 at supermarkets and restaurants, 3 points per $1 on cable, satellite and other pay television/radio/streaming services, as well as 1 point per $1 on all other purchases
Annual Fee: $0
Credit Score: Good
Initial Bonus: $100 statement credit for spending $1,500 in the first 90 days
Ongoing Rewards: 1.5% cash back on all purchases (2% cash back for Honors Advantage Members)
Annual Fee: $0
Credit Score: Good
Initial Bonus: N/A
Ongoing Rewards: N/A
Purchase Intro APR: 0% for 15 months
Regular APR: 17.99% (V)
Annual Fee: $0
Credit Score: Good
You can check your credit score for free, right here...
read full answer by James Bronzz, WalletHub AnalystDid we answer your question?
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