Complain about a product or service

Pentagon Federal Credit Union

Sharon of New Orleans, LA November 10, 2009

Cash back Rewards. I bought a Dell computer that I needed. Penfed offered 5% cash back at Dell. So I used my PenFed card. When I got statement it was credited at a regular 1.25%. Here we are 60 days after purchase and I'm still trying to get my 5% cash back. I wonder how many people have been scammed and don't check this.

Neal of West Hartford, CT June 12, 2009

PENFED- STAY AWAY! My purpose in joining PenFed Credit Union was to obtain the benefits of a PenFed credit card. This 20. they now describe as a "donation" was described to me as an account activation fee for non military members. After opening the account, I was informed that the credit card would be "in the mail".

After a month of waiting for the credit card which never arrived, I contacted PenFed. I was told that I now had to submit two years of tax returns in order to be considered for a credit card.

PenFed was aware from the outset that my purpose in opening an account with them was to obtain a PenFed credit card. I assumed that my credit record (well over 800) was checked at the time of applying for the prerequisite savings account. I was never informed that I would have to submit tax records as a condition for obtaining a credit card. I have never been asked for tax records to obtain a credit card, and I have never been denied a credit card. Requesting tax records from me - and only after I had to call them a month after I was supposed to have received this card - is highly irregular and suspicious.

I feel that the entire process of obtaining a credit card from PenFed has been misrepresented to me.

Joyce of Alexandria , VA June 6, 2009

After hearing numerous radio ads about the 3.99% auto loan, I contacted Pen Fed and inquired how to get such a great rate. Wanted to refinance current loan of 5.74%. I was told the only requirement was that of membership and, given my employer, I had no problem joining. I do however have a problem with the minimum 25 required for a specific military fund. Not that I don't support our military so don't jump on me because of that.

There are several issued brewing here:

One --- the 25 required fee which is of no benefit to me --- directly.

Two --- I was told I had to complete the application online in order to get the special rate. Somehow, it turned into 2 separate applications... both of which they processed!

Three --- they led me to believe I would have no issue qualifying for a loan of 6K for a car worth 18K and a credit score of 782.

Four --- they declined the loan saying my debt ratio was too high at 38% [with a six figure income] but they refused to provide the figure by which they use as a guideline siting they were "within the law not disclosing" it.

Although it is the FEDERAL government, I don't get how it is LEGAL or ETHICAL lending practices to ENTICE new members without disclosing all details of the advertised rate and requiring the payment into a special fund. Do the calculation yourself... There are 3 million plus people within earshot of the radio ad and if each of those applied to become a NEW MEMBER with Pen Fed, they automatically receive ... are you ready for this??? 75 MILLION DOLLARS!!!! Just for becoming a member!!

I’ll just stick to Apple Federal Credit Union where they have fair and disclosed lending practices.

Sandra of Wildwood Crest, NJ June 3, 2009

I have dealt with Pen Fed for many years and they were always very helpful and courteous. Lately, I have no idea what has happened. My husband and I applied for an equity line of credit for a small amount of money; in order to adopt a foreign child. Maybe my mistake was telling the equity loan agent my reasons, b/c what I thought should have been a very easy loan app- turned out to be a 90 day nightmare. let me remind you that I have a 880 credit score and the home is valued in equity for over 150,000 more than I was even borrowing. At the same time, a relative of mine was trying to refi a loan and there were nightmares just getting appraisers to the house !! 6 phone calls and two appraisers and we are still trying to hear back from them.

Everything is automated, event the damn workers !! Horrible service- still waiting to close on this!! 90 days later, I could have bought a house quicker than this. What horrible service. Will not deal with Penfed again. Tried to speak with managers or cust. svc--they don't even care. They transfer you to the person's voicemail that you had the problem with in the beginning. WOW !! I guess that should explain a lot, given it is a "FEDERAL" credit union !!

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