PenFed is one of the largest federal credit unions in the U.S. It offers checking accounts, credit cards, personal loans, mortgages, auto loans, student loans, and a wide range of other financial products and services. Here are some useful things to know about Pentagon Federal Credit Union:
Offers member discounts for partner businesses, such as Travelers, Chubb, TurboTax, and Crutchfield
... show more
Eligibility
Find out if you are eligible to join PenFed Credit Union.
PenFed Credit Union Reviews
The WalletHub rating is comprised of reviews from both WalletHub users and ratings on other reputable websites. The rating was last updated on 09/19/2025.
4.0
11,979 reviews
from WalletHub and across the web
11,979 reviews from WalletHub and across the web
What's Your Rating?
Most Recent
Most RecentMost Useful
Review sort
PenFed Credit Union
WalletHub @WalletHub
Report Abuse
4 Star Rating
editor's review
2025 PenFed Personal Loan Review
PenFed personal loans have very low rates compared to most other personal loans, at 8.99% - 17.99%, with a 0% origination fee. Borrowers can also get $500 - $50,000 in funding, and will have 12 - 60 months to pay the loan back.
You can only get a PenFed personal loan if you join Pentagon Federal Credit Union. Anyone can join for free, though, as long as they open a PenFed savings or share account with at least a $5 initial deposit.
PenFed Personal Loan Review Highlights
APRs: 8.99% - 17.99%
Loan sizes: $500 - $50,000
Payoff periods: 12 - 60 months
Credit score requirement: 650
Other requirements: 18+ years old, U.S. citizen or permanent resident, SSN or ITIN
Origination fee: 0%
Late fee: $29
Reputation: PenFed gets a score of A+ from the Better Business Bureau and has an average user rating of 4.0 on WalletHub.
PenFed personal loans are some of the best on the market, and anyone can join PenFed to apply. The loans aren’t completely flawless, though. Below, you can see how WalletHub rates PenFed personal loans in our three major categories: Terms, Requirements & Application, and Reviews & Transparency.
PenFed Personal Loan Ratings by Category
Category
Editor’s Rating
Terms
5/5
Requirements & Application
4.8/5
Reviews & Transparency
3.5/5
Overall Score
13.3/15
These scores reflect how close a loan offer is to WalletHub’s definition of a 5-star loan. For more information, please read WalletHub’s full methodology.
Product: PenFed Credit Union Personal Loans
Comment
0
6
PenFed Credit Union @PenFed
@gary_1306 Glad to hear it, Gary! Thank you for choosing PenFed!
show more
show less
Comment
1
4
Lucky Bastard @neil_nmcgee
@PenFed You're literally the worst, nothing but a bunch of clowns.
show more
show less
Comment
4
0
Lillir Hyman @lpeele30
@neil_nmcgee you got out lucky you don’t want to ever do business with them a bunch of unethical lying clowns
show more
show less
Comment
1
0
Richard DesLonde @gr8melinko
@neil_nmcgee I just posted this review.
They really are clowns. You got that right.
I am putting a sign on my cars back window saying Penfed is the worst credit union. Go with Navy Federal or PSECU and don't waste your time on Penfed.
I joined PSECU and three days later I applied for a credit card and they gave me a $20,000 signature visa card with a 18 month 3.9% APR and $0 transfer fees.
I joined Penfed and asked for a card and they declined me.
I had a 780 credit score across the board. Never missed a payment in my life on any loan or credit card.
Since then I have applied for a card with Penfed 13 times!!!!!!!!!
They have declined me every time.
I am out of here.
Worst bank/credit union ever.
Don't waste your time.
Another credit union I got a card with is Navy Federal and they keep doubling my available credit from 1k to 2k to 4k and now I have 11K
They also charge $0 for balance transfers and borrowing at the ATM on your credit card!
They also approved a car loan for 25k as did PSECU.
Don't waste your time trying to establish a relationship with this horrible credit union.
Also, for the record I have always kept my utilization at no more than 10 to 15%.
show more
show less
Comment
1
0
View more comments
PenFed Credit Union
jegraham87 @jegraham87
Report Abuse
1 Star Rating
Crazy, I came on here and saw the same things I'm dealing with. They are rude, unprofessional; it was the worst 10 minutes ever on the phone! I recommend nobody, I mean nobody, deal with this bank! I'm closing everything I have with them and running as fast as I can away from them!
show more
show less
Comment
0
0
PenFed Credit Union
Curtis Schmitt @curtisrschmitt
Report Abuse
5 Star Rating
My wife and I purchased a car from a very small dealer in business for less than two years. Traditional auto financing through the commercial banks (Citibank, Chase) we use for checking and savings was not possible because apparently dealers need to be in business for at least five years to qualify for access to those institutions. We asked the dealer to recommend auto financing and they suggested a credit union. PenFed made a very difficult process a lot easier. They have pretty clear instructions on their site and we found their customer service to be generally very good. We made a mistake with the title and PenFed's Sacramento office, where it was sent, did a good job of sorting it out, sending us a letter with clear instructions, and did as much as they could on their end to help us with registering the vehicle in our state. I would use them again for auto financing as the interest rate we qualified for on an almost ten-year-old Porsche with over 100K miles was very competitive.
show more
show less
Comment
0
0
PenFed Credit Union
Jjtaylor3md @Jjtaylor3md
Report Abuse
1 Star Rating
PenFed has the worst customer service. I deeply regret wasting a credit inquiry on this company. They request an excessive amount of personal information and do not provide any feedback on the status of your loan application until you call. I had to make repeated calls to check the status of my loan application only to be told repeatedly that the uploaded documents could not be viewed or that they were rejected. No explanation was provided as to why the documents were rejected, so there was no way to verify if the problem had been addressed before resubmitting them. The application was not reviewed in time due to their lack of communication and delay in reviewing uploaded documents. Their own representatives acknowledged their poor communication with customers. When I asked to speak with a supervisor, the representative responded by asking me three times if I wanted to speak with a supervisor. Make it make sense! Do not choose this company for your financial needs.pp
show more
show less
Comment
0
0
PenFed Credit Union
markell_ferguson @markell_ferguson
Report Abuse
1 Star Rating
Horrible service! I have two car loans with PenFed, both of which are almost paid off. I applied for another car loan and was denied because they said I took a loss in 2022, and they can't give me an $11,000 loan. They refinanced my 2016 Camaro for $37,000 and then gave me a $14,000 loan, so how is it that I can't get $11,000? My credit score, according to PenFed, is good; I have no debt-to-income ratio, and I make good money. So tell me what's wrong with this picture! Honestly, they need to take a look at the loan officer who's not doing their job. After I finish with my car loans, I will definitely be discontinuing my relationship with PenFed. Apparently, the relationship I tried to build with PenFed doesn't mean anything.
show more
show less
Comment
0
0
PenFed Credit Union
Joan Belmont @joanbelmont80
Report Abuse
1 Star Rating
The most difficult, painful, and eternal credit application experience in my entire life! They ask for something, you give it to them, but then they want more afterwards. It never ends; it's exhausting, and I gave up and took my business elsewhere. This is the second chance I have given them in a decade, and nothing has changed! I have an exceptional credit score (839), low debt to income, and have always paid as agreed. I applied for a credit card with them. I have never been asked to supply the last two pay stubs for a credit card before. They did, and I thought it was odd, but I produced them. Then, they wanted my bank statements, and I said no. It's not like they're approving a mortgage. I'm applying for a credit card, for crying out loud. Backward institution.
show more
show less
Comment
0
0
PenFed Credit Union
Astrid Ebron @astridsebron82
Report Abuse
1 Star Rating
Verified Customer
I was on automated payments and my payments were a dollar short. They never reported it as late, but kept charging me a late fee. Once the loan matured, they reported it on my credit report and my credit took a significant hit. When speaking to different customer service representatives, I kept getting the runaround, and none of them ever recorded our conversations. Thus, whenever I called back, I had to explain everything all over again. I definitely wouldn't recommend them to anyone.
show more
show less
Product: PenFed Credit Union Personal Loans
Comment
0
0
PenFed Credit Union
Nora Williams @wisewillow65
Report Abuse
1 Star Rating
The worst bank I have ever experienced. I shall never deal with them again once I am done paying off the vehicle. Their processing of credit card and vehicle payments is disgraceful! They hold your money for days until they finally allow a payment to go through. You know why? The longer they hold on to the money, the more money the company makes. The CEO of this company is worth 35 billion dollars, and there is a reason for this. He sits in his expensive house, drives high-dollar vehicles, eats luxury meals, takes lovely trips, all at the expense of people who make less than a "middle-class" income. He shall be accountable for that the day he bows and confesses. I would have never dealt with this company if I had known it is the worst! I'm 60 years young and have had experience. The customer service? Ha ha ha, I think the majority of them are so rude, uneducated, or just plain trained to be as such for this company. Or they are just people who do not care about human beings in general. They too shall bow and be accountable. I'm done when I arrive at the point of payoff. Disgusting company. It's not worth it; look elsewhere.
show more
show less
Comment
1
0
PenFed Credit Union
Terry Barnhart @tjbarn9965
Report Abuse
1 Star Rating
They pay for the falsehood. They're untrustworthy; run fast, run far. PenFed is not the bank/lender for anyone. I received a notice that my loan payment failed, only to be double charged three days later. Their records don't show they emailed me saying it failed, which is funny because I kept it. Of course, they overdraw my account. The solution I was offered was simply an apology and the explanation that I paid two bills. I wish I would have dug deeper into the reviews. The good ones are from bots.
show more
show less
Comment
1
0
PenFed Credit Union
jp42809 @jp42809
Report Abuse
1 Star Rating
813 credit score, 18% debt-to-income ratio, two debts total, and denied a loan. The explanation given was that I didn't carry enough debt accounts. This Credit Union is a joke. I have not had a late payment in over 35 years and have never been turned down for a loan. Don't waste your time because you have to deposit money to apply. It has been 45 days, and they will not close my account and refund my money because it is still pending...how?
show more
show less
Comment
1
0
PenFed Credit Union
Anthony Caietta @acaietta28
Report Abuse
1 Star Rating
I would love to give 0 stars!
Don't do business with this credit union. I had a car loan that was paid off on May 10, 2025. Since then, I've received three emails saying my car insurance needs to be updated.
Here's the thing: 1. My car loan is paid off. As you are no longer my lender, you don't need to be included on my car insurance. 2. I traded my car in and no longer own it.
I informed PENFED of this. Yesterday, I received an email saying they will update my loan. Guess what I got today... another email about my insurance needing to be updated.
Stay away from them. If their departments can't communicate to confirm the loan is paid off and that they shouldn't email me anymore, I have zero faith in their ability to do anything right.
All accounts are closed!
show more
show less
Comment
1
0
PenFed Credit Union
Richard DesLonde @gr8melinko
Report Abuse
1 Star Rating
"PSECU is a much better credit union. I joined PSECU and three days later, I applied for a credit card, and they gave me a $20,000 signature Visa card with an 18-month 3.9% APR and $0 transfer fees.
I joined PenFed and asked for a card, but they declined me, despite having a 780 credit score across the board and never having missed a payment in my life on any loan or credit card.
Since then, I have applied for a card with PenFed 13 times, and they have declined me every time. I am done with them—worst bank/credit union ever. Don't waste your time.
Another credit union I got a card with is Navy Federal, and they keep doubling my available credit from $1k to $2k to $4k, and now I have $11k. They also charge $0 for balance transfers and borrowing at the ATM on your credit card! They also approved a car loan for $25k, as did PSECU.
Don't waste your time trying to establish a relationship with this horrible credit union. Also, for the record, I have always kept my utilization at no more than 10 to 15%.
show more
show less
Comment
0
0
PenFed Credit Union
Lisa Whytock @lwhytock06
Report Abuse
1 Star Rating
I wouldn't trust money in this bank. I have an auto loan, and it's gotten buggered up more times than I can count. Today, it has me owing for May 20th but paid on May 14th, and it shows 'Paid'. This bank is clueless.
show more
show less
Comment
1
0
Richard DesLonde @gr8melinko
They are awful
Here is a review I just posted.
PSECU is a much better credit union
I joined PSECU and three days later I applied for a credit card and they gave me a $20,000 signature visa card with a 18 month 3.9% APR and $0 transfer fees.
I joined Penfed and asked for a card and they declined me.
I had a 780 credit score across the board. Never missed a payment in my life on any loan or credit card.
Since then I have applied for a card with Penfed 13 times!!!!!!!!!
They have declined me every time.
I am out of here.
Worst bank/credit union ever.
Don't waste your time.
Another credit union I got a card with is Navy Federal and they keep doubling my available credit from 1k to 2k to 4k and now I have 11K
They also charge $0 for balance transfers and borrowing at the ATM on your credit card!
They also approved a car loan for 25k as did PSECU.
Don't waste your time trying to establish a relationship with this horrible credit union.
Also, for the record I have always kept my utilization at no more than 10 to 15%.
show more
show less
Comment
0
0
PenFed Credit Union
Stephanie Cuevas @s_cuevas21
Report Abuse
5 Star Rating
Great customer service, always a good experience but a special thanks to Mekeylar Thaxton (Kim). She goes above and beyond and I appreciate her professionalism. Thank you for all you do!
show more
show less
Comment
0
0
PenFed Credit Union
RL Turner @nuwwine4u
Report Abuse
1 Star Rating
I make well over 6 digits, less than 15% debt, never late, pay above the due amount. These Neanderthals reduced my credit card to $250. Previously cut my limit by $500 with no conversation. Held my account for 10 days after I made a lump sum payment! DONE! The absolute worst Credit Union in the world!
show more
show less
Comment
1
0
Richard DesLonde @gr8melinko
They are clowns.
Here is a review I just did.
I am in a similar situation.
PSECU is a much better credit union
I joined PSECU and three days later I applied for a credit card and they gave me a $20,000 signature visa card with a 18 month 3.9% APR and $0 transfer fees.
I joined Penfed and asked for a card and they declined me.
I had a 780 credit score across the board. Never missed a payment in my life on any loan or credit card.
Since then I have applied for a card with Penfed 13 times!!!!!!!!!
They have declined me every time.
I am out of here.
Worst bank/credit union ever.
Don't waste your time.
Another credit union I got a card with is Navy Federal and they keep doubling my available credit from 1k to 2k to 4k and now I have 11K
They also charge $0 for balance transfers and borrowing at the ATM on your credit card!
They also approved a car loan for 25k as did PSECU.
Don't waste your time trying to establish a relationship with this horrible credit union.
Also, for the record I have always kept my utilization at no more than 10 to 15%.
show more
show less
Comment
0
0
Review PenFed Credit Union
WalletHub Awards
PenFed Credit Union has won the following WalletHub Awards:
Get answers to your questions about PenFed Credit Union below. Editorial and user-generated content is not provided, reviewed or endorsed by any company. Please keep in mind that it is not a financial institution’s responsibility to ensure all posts and questions are answered.
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.
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.
Yes, PenFed is a good credit card company that offers unsecured credit cards for people with good credit. PenFed credit cards come with $0 annual fees, 0% foreign transaction fees, rewards of up to 5 points / $1 spent on purchases, and introductory APRs.
Here's why PenFed is a good credit card company:
Many credit card promotions and benefits: All PenFed credit cards come with a 0% foreign transaction fee, and almost all of them have no...
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...
PenFed doesn't offer any business credit cards at the moment, unfortunately. PenFed credit cards are intended for personal use, but they typically come with low annual fees, competitive initial bonuses, 0% introductory APRs, attractive rewards or a combination of these features. You could even get one for business expenses, as long as you don't use the same account for personal spending.
Having said that, there are several good business credit cards from other issuers that are available for...
The PenFed Honors Advantage program offers higher earning rates to eligible PenFed Power Cash Rewards Visa Signature® Card and PenFed Pathfinder® Rewards Visa Signature® Card members. More specifically, PenFed Power Cash Rewards cardholders get 2% cash back on all purchases and PenFed Pathfinder cardholders get 4 points / $1 spent on travel if they are eligible for this program.
How the PenFed Honors Advantage Program Works
Eligibility based either on having and maintaining a PenFed Access America or Free Checking acccount or being/having been in military service (active duty, reserve, honorably discharged,...
Yes, PenFed Credit Union offers IRA CDs. You can choose from different terms ranging from 1 to 7 years, with a minimum deposit of $1,000.
They also offer regular CDs. The PenFed Credit Union CD has an APY of 2.80% - 3.20%. With term lengths ranging from 3 months to 5 years.
It's important to note that these rates may change without prior notice. For the most up-to-date information, please refer to the PenFed Credit Union website or call their customer service at (800) 247-5626.
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...
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.
PenFed Credit Union Credit Score Requirements by Card
The starting credit limit for the PenFed Power Cash Rewards card is $5,000 at a minimum, according to customer service. However, some cardholders report limits as high as $25,000. PenFed Credit Union does not include any specific PenFed Power Cash Rewards credit limit information in the card's terms, though.
PenFed Power Cash Rewards credit limits details:
For the most part, PenFed Power Cash Rewards credit limits depend on each applicant's overall credit standing. Those with the highest income and best credit scores will generally be offered the highest starting...
Ad Disclosure: Certain offers,
companies or professionals (collectively “listings”) that appear on this site, originate from paying advertisers.
For full transparency, here is a list of our current advertisers.
Advertising impacts how and where listings appear on this site (including, for
example, the order in which they appear and their prevalence). At WalletHub we try to present a wide array
of offers, companies and professionals, but our listings do not represent all financial services companies
or products.
Advertising enables WalletHub to provide you proprietary tools, services, and content at no charge. Advertising does
not impact WalletHub's editorial content including our best picks, reviews, ratings and opinions. Those are completely
independent and not provided, commissioned, or endorsed by any issuer, as our editors follow a strict
editorial policy.
WalletHub is not a financial advisor. Our goal is to provide you with top-notch
content, data, and tools. You are responsible for deciding what financial products and providers are best
for your needs.
We work hard to show you up-to-date product terms, however, this information does
not originate from us and thus, we do not guarantee its accuracy.
Actual terms may vary. Before submitting an application, always verify all terms and conditions with the offering
institution. Please let us
know if you notice any differences.
* The information about the following cards has been independently collected
by WalletHub: PenFed Platinum Rewards Visa Signature® Card, Bank of America® Customized Cash Rewards Secured Credit Card, U.S. Bank Cash+® Visa® Secured Card, PenFed Power Cash Rewards Visa Signature® Card, PenFed Pathfinder® Rewards Visa Signature® Card, and PenFed Gold Visa® Card.
