Penfed rebuilder card info

[lotun]

FYI

 

The Initiator VISA credit card is similar to Pentagon Federal?s VISA Classic credit card product but is intended for those members with limited or no credit experience. 50% of the credit line will remain on hold in your share account.

 

The Rebuilder VISA credit card is for members with poor credit history but who have regained control of their finances in the last six months. 100% of the credit line will remain on hold in member?s share account.

 

If you are interested in applying for either of these accounts, please contact a Member Service Representative at 1-800-247-5626, (541) 225-6700 or 510-376-7328 from a Class A DSN phone line. Representatives are available 24 hours a day, 7 days a week for your convenience.

[honesty]

that's great info

[honesty]

bump**

 

I just spoke w/ a rep at Penfed.

 

Initiator visa = $500-$1000 limit ($100 increments)

for those who have had credit problems in the past but in last 6 months have proved that they are paying well. Account is 50% unsecured. ie. if you get a $1000 card you must secure it w/ $500.

 

Rebuilder visa = $500 limit

bad credit. Fully secured card

 

both cards are able to become fully unsecured after 12 months. At that time they will pull your credit again.

 

The lady states that you are not guaranteed for approval. Must have funds in account at time of application.