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Penfed Fraud Lockdowns. I'm done with this card!


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I just called in for the 3rd time to re-activate my card in the last 6 months. Every time I call takes up about 10 minutes of my time and to research the purchases I made. Twice, I didn't get the call first and was declined at the POS. Luckily, I always carry backups. These are simple purchases that I regularly make and I don't feel like they should initiate fraud lockdowns every time I want to use the card. Penfed has become a straight up hassle to use. I have 20 or more other cards and never have I had a card shut down until I called in.  Most just have a text or email that asks if you did or didn't make the purchase, but at least the card stays open.

Anyways, it's getting sockdrawered. Anyone else have this trouble with Penfed?

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2 hours ago, Jon77 said:

Anyone else have this trouble with Penfed?

I only have their Useless Rewards™ Visa®. 

 

Ever since I crunched the numbers and determined that it wouldn't even return 1% cash back despite its 1/3/5x rewards structure, I've only used it to add minutes to my AEBN account and for purchases with similar merchants.

 

Works every single time.

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:wave:

 

I haven't had that problem with penfed but I would sock drawer it as you plan if it isn't even effective as a means of purchase. I plan to close my penfed card and accounts this year.

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I've used the "Max Power Rewards™" to buy an expensive bicycle and some gas. 

505672-645x356.jpg

I was queried when I bought the bike, but no one has said anything since then. The card is comatose as of now.

The "rewards" are underwhelming, to say the least.
 

 



 

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Paging [mention=136067]PotO[/mention]
 
 

Well, there are positives and negatives:

Negatives:

1. Very long hold times to reach a CSR;
2. No 24/7 support;
3. Crazy CC payment hold times for new members;
4. Long time for statements to generate;
5. Lowish credit limits;
6. Online eBanking often offline;
7. The CB resident porch pirate, CV, is a member.

Positives:

1. Direct line to CEO;
2. When online, eBanking platform is good;
3. Easy no-INQ CLI offers;
4. 2% cash back;
5. No FTF;
6. Cash rewards available as soon as charge posts;
7. No minimum to redeem cash rewards;
8. No incoming wire transfer fees.
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The Big negative for me is - I CANT LOGIN TO PENFED.ORG ON ANY BROWSERS ON MY MAC.

It might be my adblocker or stop html video auto play or any other plugin that might be causing the login frame to open up.

 

I have to use Mobile app to pay or look up transactions. I only used twice this year, each for Christmas and thanksgiving promos Only.

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8 hours ago, Krish said:

The Big negative for me is - I CANT LOGIN TO PENFED.ORG ON ANY BROWSERS ON MY MAC.

It might be my adblocker or stop html video auto play or any other plugin that might be causing the login frame to open up.

 

I have to use Mobile app to pay or look up transactions. I only used twice this year, each for Christmas and thanksgiving promos Only.

You're missing out on all of the quarterly used moped loan offers.  :( 

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11 hours ago, Krish said:

The Big negative for me is - I CANT LOGIN TO PENFED.ORG ON ANY BROWSERS ON MY MAC.

It might be my adblocker or stop html video auto play or any other plugin that might be causing the login frame to open up.

 

I have to use Mobile app to pay or look up transactions. I only used twice this year, each for Christmas and thanksgiving promos Only.

I have a similar issue, but it is only with Chrome on my mac.  I am able to login using Safari.  My issue is that nothing happens when I click the login button, are you experiencing the same thing?

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Now that you all are mentioning it, I do have issues 50% of the time logging in to their website. But I'm just using Firefox on a pc.

I mostly use the card for the 5% gas reward. Ironically, although I have been traveling a lot, one of the "fraud" cases happened at my local and well used station. The rest were online transactions with big retailers.

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Besides the local gas station, what other retailers are the source of the issue?

 

I still have my legacy 5% card and have never had an issue even when using out of state without a travel notice (only use for gas).  One time I did have a legit fraud lockdown that they caught, took a few minutes on the phone, and overnighted me a new card.

 

Also, no issues with the website. 😕

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4 hours ago, CTSoxFan said:

I have a similar issue, but it is only with Chrome on my mac.  I am able to login using Safari.  My issue is that nothing happens when I click the login button, are you experiencing the same thing?

I almost never use safari and at times I forgot I had one

I downloaded Brave, which I like very much built on Chromiium

Firefox

Opera

 

and all of them failed me to login.

 

Now i used Safari and it worked. Thanks for the tip.

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I use PenaltyFed's website with no issues on mac and pc (with firefox for both and ghostery and an ad blocker). I have finally been able to get my money out (instead of pulling I punished myself by insisting on using penfed to push out at the ridiculously low daily rate of 25k. I now just need the time to deal with calling in to close accounts.

 

Penfed served me well when I was rebuilding and when finding a high limit no FETF card with pseudo 5% off travel mattered. That card is now pretty ho-hum as the rewards have been soured and I have better alternatives to meet my spending pattern. I blocked off 3 hours on a Thursday later this month for this task.

Edited by hegemony
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If anyone is interested, FenPed offers MBI (mechanical breakdown insurance a/k/a "extended warranties") on used cars.

 

If you want to buy an MBI policy, for payment they'll take any credit card -- as long as it's one they issue.

 

But they'll charge you a cash advance fee and interest will start accumulating the moment you make the purchase.

 

But they won't tell you about the cash advance fee unless you think to ask, and then the first answer to your question will likely be a complete guess. 

 

This will be apparent from the agent's tone of voice.  But if you press hard enough, they'll put you on hold to find out for sure.

 

Once you buy it, they'll tell you the policy will arrive by UPS.  When it doesn't, they'll tell you it will arrive by email. 

 

When it doesn't, they'll tell you to wait until the first day of the following month and by then it will most certainly show up in your inbox, but when it still doesn't arrive, give it a couple of extra days and call back on the 3rd.

 

The agent will then berate you for not waiting long enough to place the follow-up call.

 

And then...

 

Oh f- it.  I'm exhausted just thinking about the rest of it.

 

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On 1/6/2021 at 3:58 PM, cv91915 said:

You're missing out on all of the quarterly used moped loan offers.  :( 

 

I can understand your need for a moped loan.  They are great tools for porch pirates.  You can make better use of your time and be far more productive in your stealing.  

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On 1/7/2021 at 12:32 AM, hegemony said:

OMFG! I better not close my accounts with offers like this in my inbox!!!

 

OcTNlEB.png

 

Ask CV about the moped offer.  Buy a moped and get one of those pink-flowered coats like CV's and you could go into the porch pirate business.  We can call you two the Dynamic Porch Pair. 

 

 

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  • 2 weeks later...

I have had Bank of America for like 2 years. Rarely have issues and was thinking of joining Penfed to refinance our truck. After reading this I might just stay with Bank of America.

 

Since my credit is bad Bank of America won’t even offer me credit of any type.

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I have had Bank of America for like 2 years. Rarely have issues and was thinking of joining Penfed to refinance our truck. After reading this I might just stay with Bank of America.
 
Since my credit is bad Bank of America won’t even offer me credit of any type.


No sense in jumping over to PenFed. They won't touch you with the poopy end of a stick either if you have bad credit.

While almost all credit unions are paranoid, the nice thing about PenFed is the easy 2% and no FTF. While Citi also has 2%, cashing out the rewards isn't nearly as convenient and they do have a FTF.
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5 hours ago, PotO said:

While Citi also has 2%, cashing out the rewards isn't nearly as convenient and they do have a FTF.

 

 

At one time, I think the only redemption option for Citi Double Cash was payment by check.  However, they now offer a statement credit as well as direct deposit. 

Edited by hdporter
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At one time, I think the only redemption option for Citi Double Cash was payment by check.  However, they now offer a statement credit as well as direct deposit. 

They do. The problem is, though, that the minimum redemption amount is $25. So, unless I have spent $1,250 that month I need to wait to redeem my rewards money. Another issue, although minor, is you need to wait until after statement date to see your rewards.

On the other hand, with PenFed you can redeem as little as $0.01. As soon as your transactions post, the rewards are available to redeem.

When I am owed money, I do not like to wait. We have several rental properties and I'm lucky enough that all the tenants are really good. It doesn't hurt that they realize that even five minutes late in paying rent and I'm all over them like white on rice.

I also dislike it when I owe money. I've made 17 payments on my PenFed Visa this month. A normal occurrence is buying something today and later in the evening or the following morning making a payment for that amount.

One thing I dislike about my PenFed card is the limit. Citi is about $80k. PenFed is far less. I'm optimistic, though, I can get PenFed up to whatever their maximum exposure is in the not-too-distant future.
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Poto thanks for sharing. I’ll just stay with Bank of America for now atleast. 

Bank of America might even prove to your advantage.

a97f55bfebcfbbb415d24e5cbc2036ee.jpg

While in any Bank of America branch, keep your eye out for someone wearing that pink-flowered coat. That would be our very own CV and, if you play your cards right, he can take you under his wing and teach you the finer skills needed for a successful career in porch-pirating.
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