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Started By
Message
Anyone here have a PenFed credtit card?
Posted on 2/21/24 at 8:57 am
Posted on 2/21/24 at 8:57 am
I have a Gold Card that has a 12.49% interest rate. Yesterday I received notice that they are raising the rate to 17.99%. They also haven't made any transfer offers lately either. I wonder if they are in financial trouble. Here is an article from CU Times.
For the record my credit history has not changed. I have been on time on all my cards.
Credit Union Times
quote:
Pentagon Federal Credit Union of Tysons, Va., lost $65.3 million in the fourth quarter, as it ratcheted up loan loss provisions and net revenue fell.
NCUA posted the Call Report for PenFed ($34.8 billion in assets, 2.9 million members) late Tuesday. It showed the net loss for the three months ending Dec. 31 was an annualized -0.74% of average assets, down from ROAs of 0.40% a year earlier and 0.57% in the third quarter.
For the record my credit history has not changed. I have been on time on all my cards.
Credit Union Times
This post was edited on 2/21/24 at 8:58 am
4
Posted on 2/21/24 at 11:22 am to LeClerc
I've got one with Advancial credit union at 8.9% and I've been waiting for a announcement like this too. Nothing yet thankfully!
Posted on 2/21/24 at 11:31 am to bubba102105
quote:
I've got one with Advancial credit union at 8.9%
Nice!
Posted on 2/21/24 at 8:43 pm to LeClerc
Yep, I have one but never use it - been a member since 1990 when they were Belvoir FCU. Only time I have done any business with them was for auto loans - their rates are usually a quarter or half a point lower than anyone else. They send me emails frequently - today they offered 3% savings account - not close to competitive.
Thanks for the info - I will close my account and transfer the required member cash balance.
Thanks for the info - I will close my account and transfer the required member cash balance.
Posted on 2/21/24 at 9:04 pm to LeClerc
I get credit cards for the signup bonuses and for points on spend. I pay off my card on time, so I don't care what the rate is
This post was edited on 2/21/24 at 9:06 pm
Posted on 2/21/24 at 10:44 pm to LeClerc
I have 2. The 2% cash back one and one that was 5% on gas but no longer on that rate.
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