People typically start receiving PenFed credit card pre approval offers 6 months after joining Pentagon Federal Credit Union. Watch for an email with the subject line, “Congrats, on your pre-approval!” Based on your creditworthiness, income and other undisclosed factors, they will include various credit cards from their portfolio in that offer.
You have to receive an offer, though. You can’t just take it upon yourself to check which PenFed cards will give you good approval odds. That’s called pre-qualification, and PenFed doesn’t let you check for that.
PenFed is currently sending potential customers pre-approval offers for the Power Cash Rewards card. The card gives a $100 statement credit after spending $1,500 within 3 months of opening an account, 1.5% cash back on all purchases and a $0 annual fee. There’s also an introductory APR of 0% for 12 months on balance transfers and a low regular APR upon approval. The targeted mail or e-mail offer is geared toward new PenFed members and non-members who PenFed thinks would likely meet the card’s requirements for approval.
To respond to a PenFed credit card pre-approval offer, visit the PenFed pre-approved page or call 1 (800) 247-5626. Be sure to provide the access code at the bottom of the offer letter so that PenFed can flag the application as pre-approved. Non-members who are approved for the card must also qualify for PenFed membership, which includes opening a PenFed savings account with a minimum $5 deposit. Membership requirements and an application are available on the PenFed membership website.
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.
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.
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