A credit card is the best financial tool that will make you a responsible person. It will balance your spending and saving status in the right path. You will understand the actual value of money by owning one of the credit card.
The best part about a credit card is you can buy anything even though you don’t have money right with you. Simply use the credit card and spend on purchase and pay the interest later on monthly.
Today you will learn to apply for PenFed credit card in the most simple way possible. We will also talk about the eligibility for the PenFed credit card and the credit score needed for a new credit card.
So, let’s get started.
Requirements to Apply for PenFed credit card
If you are thinking about applying for a PenFed credit card then you must need few things before that. You must pass the eligibility test of PenFed in order to use one of their credit card. Once you get approved from the PenFed then they will send you your requested credit card.
So, what are all those requirements to get approved for a PenFed credit card?
- Must be a member of PenFed credit union.
- Must have an eligible credit score of 750+.
- Need a good credit history.
- Submit your source of income (annually)
- Verify your original identity
- Must be 18 years old.
Types of PenFed credit cards
There are four types of PenFed credit cards which you can apply if you wanted to. But for that, you must become a member of PenFed credit union.
After you joined PenFed then you can apply for its credit card service. Once you get your hands on the PenFed credit card then you will get all the available services that PenFed offers. But remember, every credit cards have their own offer which you may not find on all cards.
Some of the cards are best for loan, gas and other can be for food, shopping and more. So, it’s upon you to choose the PenFed credit card that suits you the most and your requirements.
Now, these are the following all PenFed credit cards.
Platinum Rewards Visa Signature Card
Best for: Gas and EV charging station
Annual Fee: No
Variable APR: 13.49% – 17.99%
PenFed Pathfinder Rewards Visa Signature Card
Best for: Travel
Annual Fee: $95
Variable APR: 14.99% – 17.99%
Power Cash Rewards Visa Signature Card
Best for: Shopping
Annual Fee: No
Variable APR: 14.99% – 17.99%
Gold Visa Card
Best for: Balance transfer
Annual Fee: No
Variable APR: 7.49% – 17.99%
How to Apply for PenFed Credit Card?
The process for applying for a new PenFed credit card is simple and easy. You just need to be qualified for a PenFed credit card then you easily grab one of their cards.
You must provide the correct information which is asked to you from Penfed credit union. In case your information is wrong or misplaced in the application form of credit card then there is a high chance you will get rejected.
Other than this, your source of income also plays a vital role in the PenFed credit card approval. If you can show a good source of your income then you can also get a pre-approved offer from PenFed credit union.
So, if you have a good credit score and history and are qualified for a PenFed credit card then follow the following steps to apply for a new credit card of PenFed.
First of all, open the browser on your device or PC. It will be better if you complete the following process from PC because you will feel easy to apply for PenFed credit card.
And you can use any browser you want on your device such as Opera, Chrome, Firefox, Safari.
Visit Official PenFed Website
Now, go to the main website of the PenFed to start the applying process of PenFed credit card. You don’t know their website then simply type penfed.org in the search bar and hit enter. This will take you to the official website of the Pentagon federal credit union.
Click on Credit Cards
Once you land on the homepage of the PenFed then click on Credit cards from the top menu. After that, select the credit cards overview option which will take you to the official page of the available PenFed credit cards.
Select Any PenFed Credit Card
Now, you are on the credit cards page of the PenFed. So, here, you will have to select that PenFed credit card which you actually want to apply.
There are a total of 4 PenFed credit cards available right now such as Platinum rewards visa signature, PenFed pathfinder rewards visa signature, Power cash rewards visa signature, Gold visa.
So, you can choose any one according to your needs and requirements.
Click on Apply Now
After selecting one of the PenFed credit cards then click on Apply now green button beside the card which you’ve selected.
Then it will take you to the login page of the PenFed credit union.
Login to Your Account or Become a Member
If you are already a member of the PenFed credit union then you have to provide your PenFed online login detail to proceed further for apply credit card. So, simply use your PenFed username and password and click on Login button.
But, if you are still not a member of PenFed’s credit card then you have to first become a member of PenFed and open a saving account of $5. After that, you can apply for the PenFed credit card.
So, for non-members of PenFed, simply click on the blue Apply now button. In the meantime, they will also open your account if you are not a member of PenFed credit union till now.
Fill out Credit Card Application Form
After you have landed on the main PenFed credit card application page then fill out the entire credit card application form and submit it for the approval process.
Submit Application Form
Finally, check the provided information on your PenFed application form and if everything is correct then submit your application.
Once your application is submitted then check your email or mobile phone for the update or approval status of your applied credit card.
How to Apply for PenFed Credit Card if you are Pre-approved?
You can also for the PenFed credit card if you are already pre-approved. For those, members who are already approved for PenFed credit card they don’t have to follow the above-mentioned process. There will be different steps for those who are pre-qualified for a Penfed credit card.
So, all you have to do it provide the pre-approved offer code and few detail information about you and get your new PenFed credit card.
This is how you will do it.
- Visit the following link for pre-approved members.
- Provide your pre-approved offer code.
- Next, type your last Name.
- Type your last 4 digit of your SSN (Social Security Number).
- Complete the reCAPTCHA.
- Click on Get Started button.
- Fill out the new credit card application form.
- Finally, submit your form.
Once you have successfully submitted of new PenFed credit card application form then wait for the response either on your provided email or phone number.
What Credit Score is Required for PenFed Credit Card?
The main thing before applying for any type of credit card is the credit score. If you build a good credit score from the beginning then you can easily be approved for the new credit card.
However, you’ve a poor credit score and history then you will get difficulty while applying for a credit card. Your application may get approved as well as rejected. Most of the time, a poor credit score leads to rejection for a new credit card.
So, the credit score you will need for PenFed credit card is 750+. If you have lower credit score than that then you will need a strong source of income. But in some cases, below 750 credit score can also get approved for a PenFed credit card.
Does PenFed Give Credit Limit Increase?
If you already have a PenFed credit card and you want to increase the credit limit then you have to contact to your credit card company. Simply ask them to increase your credit limit. If you have a good credit history and you keep progressing your credit score then they can increase your credit limit.
You can get easy approval for PenFed new credit card if you meet all their requirements. So, you will need a good credit score and source of income to get pre-approved for a PenFed credit card.
So, follow the above-mentioned process to apply for a PenFed credit card and get your new credit card.
If you have any queries related to PenFed credit card ask them in the comment section.