No, PenFed does not have a student credit card. PenFed does not offer any other credit cards for people with limited credit history, either, which means students and other applicants with no credit will need to build their credit score before applying for a PenFed card.
If you’re hoping to get a student card, consider checking out the best student credit cards currently being offered by other issuers. Student credit cards usually offer better rates and rewards than regular credit cards for limited credit.
A credit score of 750+ is needed for all PenFed credit cards. That means applicants need excellent credit 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. While such an offer doesn't guarantee approval, it indicates good odds, so make sure you apply by flagging your application through the … read full answerPenFed pre-approval web page.
Here is the credit score needed for a PenFed credit card:
PenFed Gold Visa® Card: Requires a credit score of 750, at a minimum. That means you need excellent credit for approval.
Applying for credit cards can trigger hard inquiries on your credit report, which may temporarily damage your credit score. So if you don't know where you stand, you can check your score for free, right here on WalletHub. PenFed membership is open to everyone, but in the past, it was restricted to military servicemembers or family thereof. Bear in mind that simply having the credit score needed for a PenFed credit card does not guarantee approval. Your annual income, amount of debt, number of open credit accounts and other factors are all reviewed as part of your application.
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.
PenFed Credit Union scores fairly well among WalletHub users with an average rating of 3.6 (out of a possible 5). PenFed credit cards get solid ratings from WalletHub’s editors, too, led by the Platinum Rewards Visa with an editors’ rating of 4.5, followed by the Power Cash Rewards card at 4.4 and the … read full answerGold Visa at 3.3. Pentagon Federal Credit Union enjoys an A+ rating with the Better Business Bureau, as well.
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