PFCU Secured Card

Discussion in 'Credit Talk' started by mel, May 10, 2003.

  1. mel

    mel Well-Known Member

    Just wanted to spread the word about a secured card that may go under the radar!!!

    I have a secured card with Pentagon Federal Credit Union http://www.penfed.org

    Max Credit Limit? $1000
    APR? 12.9%
    Balance Transfer Rate? 6.9%
    Annual Fee? None
    Application Fee? None
    Report as Secured? No, based on my TU report
    When can it become unsecured? 12 months

    You also get visa checks as well at the 12.9% rate.

    Card is limited to members only. But if you contribute $20 to the NMFA (Nat'l Military Families of America) you can join. The link to NMFA is directly on the site at http://www.penfed.org/join/eligible.html

    They have excellent customer service. They were willing to approve for a car loan with a $20,000 chargeoff reporting at the time on Equifax if I had 12 months of repayment history with them.
     
  2. leo

    leo Well-Known Member

    What kind of score on TU is needed for an unsecured when you open an account? Do they pull a hard for the savings?
     
  3. mel

    mel Well-Known Member

    They only use Equifax. Here is the post of a score for an auto refinance...I will venture a guess to say 660 for an installment product...

    http://consumers.creditnet.com/stra...read.php?s=&threadid=45550&highlight=pentagon

    Not sure about the unsecured minimum. However, you may just want to call and ask.

    They didn't pull a hard for the savings account. They DO pull a hard for the checking account.
     
  4. bigmon

    bigmon Well-Known Member

    Looks like I'm eligible since I'm a member of the US Coast Guard Auxiliary.

    I'll be signing up next week. Thanks for the info.
     

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