No, PenFed doesn’t have any secured credit cards. Pentagon Federal Credit Union has offered secured credit cards in the past, but they stopped taking new secured card applications a while back.
PenFed only offers unsecured credit cards for members with above-average credit. There’s no security deposit required, but potential customers with credit scores below 700 may find it difficult to get approved. Although PenFed does not have a secured credit card, there are plenty of good alternatives.
Keep in mind that it’s not a secured credit card’s issuer that really matters. Your goal should be to find the card with the lowest possible annual fee, no matter who offers it. And you can achieve that goal by comparing secured credit cards using WalletHub's free comparison tool. You can also try our free CardAdvisor to get a personalized recommendation based on your answers to a few simple questions.
The PenFed credit card approval requirements include an good (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 available on the PenFed ... read full answerwebsite.
Other PenFed Credit Card Approval Requirements
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/rent payment, and employment status will also be taken into account.
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 a military affiliation. Membership in the credit union is ... read full answernow open to everyone for free.
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
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