A credit score of 750+ is needed for most PenFed credit cards. This is the credit score requirement for all 3 “PenFed” credit cards: PenFed Gold Visa, Power Cash Rewards Visa Signature, and Platinum Rewards Visa Signature. PenFed’s co-branded credit cards, such as the Coast Guard Auxiliary Platinum Rewards card, require at least good credit (a credit score of 700+) for approval. If you receive a pre-approved mail or e-mail offer for a PenFed credit card, it means PenFed thinks your credit profile likely meets the card’s requirements for approval.
But just having the credit score needed for a PenFed credit card does not guarantee you’ll be approved. Your annual income, amount of debt, number of open credit accounts and other factors are all reviewed as part of your application.
Most PenFed credit cards require an excellent credit score (750+) for approval. A few are also designed for people with good credit (700-749). Please find a full list of cards on our PenFed credit card page.
Yes. Anyone can join PenFed. PenFed membership is free for everyone now, but PenFed was originally created to serve U.S. military members and veterans of all branches, as well as federal employees and retirees. PenFed formerly required non-government and non-military applicants to donate to a military charity to be eligible for membership, but they no longer require this. As long as you’re a U.S. citizen or permanent resident of the United States, you can join Pentagon Federal Credit Union by simply funding a savings account with at least $5.… read full answer
All you have to do to apply for PenFed membership is enter your personal information – including your name, address, Social Security number or ITIN, and other info – on the membership form. Before you submit your application for membership, you’ll be asked to make a deposit of at least $5 to a new PenFed savings account using a debit card or a bank transfer.
PenFed Membership Eligibility Requirements:
Must be able to fund a savings account with at least $5
Must be a U.S. citizen or permanent U.S. resident
Must have a government-issued photo I.D.
Must be at least 18 years old
All in all, it’s very easy to become a PenFed Credit Union member. To fill out a membership form, visit the PenFed Credit Union website. Alternately, you can apply for membership over the phone by calling 800-247-5626.
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