Pentagon Federal Credit Union

47 ratings (47 Epinions reviews)
Epinions Product Rating: OK
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    Highest Rated Consumer Review by the Community

  • “. . . open and operational”

    Sep 14, 2001 by
    Rated a Very Helpful Review
    Pros: Pentagon Federal offers a broad range of financial products at competitive rates.
    Cons: Pentagon Federal membership is not open to all.

    Summary: September 11, 2001 was a dark day for America. Two commandeered U.S. aircraft were piloted into the North and South Towers of the World Trade Center. Yet another hijacked plane crashed in Pennsylvania. Still a fourth, American Airlines flight 77, ... read more

  • PenFed is untrustworthy

    Jan 2, 2014 by
    Not yet rated.
    Pros: 4.2% on gas, 2.5% for groceries, and only 0.8% for everything else (for the moment)
    Cons: See above. Basically, PenFed isn't a company worthy of high trust.

    Summary: I've been a PenFed Credit Card holder since 2010 and have grown increasingly disillusioned. I no longer recommend them; in fact, now I discourage friends from opening an account. 1) For starters, their rewards cards gives "points" not "cash" ... read more

  • Conned by PenFed

    Aug 8, 2012 by
    Not yet rated.
    Pros: They charge me $20 bucks per external wire..NAVYFED charges $0
    Cons: Loan process is very slow and don't expect to talk to anyone on the phone.

    Summary: I just went through this very same experience with PenFed and becasue of this I am closing all my accounts with them and remaining with Navy Fed. Before applying for a refinance loan I advised them that I was using my VA loan and wanted to go through the ... read more

  • Bad VA Mortgage Refi (VA IRRRL) service

    Jul 6, 2012 by
    Not yet rated.
    Pros: 5% cash back on gas credit card, auto loan, consolidated loan
    Cons: Any mortgage product especially VA IRRRL customer service; they just plainly lie in customer service

    Summary: Got alot of offers for VA IRRRL with no appraisal and expedited service.  Decided to go with Penfed since we've done auto loans and consolidated loans with them in the past with very good service.  Called their mortgage consultants and spoke to ... read more

  • Don't let them waste your time or money

    Jun 28, 2012 by
    Not yet rated.
    Pros: Low interest rates
    Seem to have good credit card deals (but who doesn't these days?)
    Cons: All the fees they charge you to get low interest rates
    Unprofessional appraisers
    Rude, unprofessional staff

    Summary: Went back to PenFed to refi my mortgage (they held the first and I have the 2nd at another bank). Wanted to roll both together. They basically took 2 weeks to contact me, then tried to schedule an appraisal after my application was approved. ... read more

  • Scam artists with name recognition

    Jun 8, 2012 by
    Not yet rated.
    Pros: There are no positives when it comes to this company.
    Cons: Con-artists

    Summary: Put in an application to Penfed, stupidly agreed to the $65.00 application fee because I liked their rates so much, and Penfed immediately pre-approved the application.  I was elated, and sat back to see what would happen next.  Nothing ... read more

  • From Great to Poor, though still best cash back on gas

    Feb 8, 2012 by
    Not yet rated.
    Pros: 5% Cash back on gas
    Great rates on auto loans
    Great  credit cards rates
    Cons: Dishonest phone reps 
    Over-zealous fraud prevention 
    Ineffective customer service

    Summary: I joined 3 years ago for the Cash Rewards Visa. The 5% back on gasoline purchases is unmatched. As I procured more PenFed products, my experience has sharply declined.1) A phone rep pitched the Amex which has no foreign transaction fee and covers ... read more

  • BEWARE PENFED MORTGAGES!!!

    Sep 9, 2011 by
    Rated a Very Helpful Review
    Pros: Used to have great customer service
    Cons: SLOW
    unprofessional
    unresponsive
    horrible customer service
    Feels like a scam

    Summary: Just don't do it.  Do NOT Refi with PenFed no matter how good the rate is.  We used to love them and all of our many cars were financed through them over the years. In the last few years, it seems they have gone really downhill on ... read more

  • You can do better with your local credit union

    Feb 28, 2011 by
    Not yet rated.
    Pros: The rates aren't bad.
    Cons: Poor customer service, too many junk fees and no local branch office.

    Summary: I've only been a member of Pentagon Federal Credit Union for a few months, but I'm closing my account for a few different reason.  My main problems and frustrations with Pentagon Federal Credit Union are that  they ... read more

  • SLOW SLOW SLOW...Do NOT go with PenFed!

    Mar 11, 2010 by
    Not yet rated.
    Pros: good hours customer service
    Cons: - Incredibly SLOW
    - Refuse to tell you everything you need to provide right away

    Summary: I have had a very similar experience as many posters.  I signed up for what I thought would be a quick and easy Home Equity Line of Credit over 2.5 months ago and my application is still pending.  My house is FULLY paid for and it is assessed ... read more

  • Think TWICE before opening or applying for PenFed

    Feb 27, 2010 by
    Not yet rated.
    Pros: Deceptively low rates on mortgage loans, car loans and consumer loans
    Cons: SLOW, CONFUSING, DELAYS, DECEPTIVE

    Summary: Based on very expensive ads that ran in the LA Times touting incredibile Equity Loan rates, I applied for membership and an equity line loan on my house owned in the last 9 years. The amount was $ 293,000 and house appraisal outside of PenFed has pegged ... read more

  • You are valued until you are not

    Jan 13, 2010 by
    Not yet rated.
    Pros: Nice introductory credit card rate
    Cons: Will turn on you like a Pit Bull

    Summary: I have been a member of PenFed for probably 15 years or so and my family has been a member for more than 35 years. All was fine until I had some financial problems due to my business closing in the economic downturn. I called to talk to someone about ... read more

  • Beware - Mortgage Loan Scam

    Jan 12, 2010 by
    Rated a Very Helpful Review
    Pros: They advertise good rates.  You'll not get that rate but it's a good rate nonetheless.
    Cons: A con takes your money and run.  Penfed takes your money and smiles, "Again please."

    Summary: To apply for a mortgage, Penfed charges you $65.  The amount is non-refundable.  That's fine, I said to myself.  My credit score is above 750, I'm making close to a six-figure salary, I'm putting almost 50% down on a house, I'm borrowing ... read more

  • EXCELLENT Credit Score? Don't Waste Your Time!

    Sep 23, 2009 by
    Not yet rated.
    Pros: The first line of customer service reps are nice but seem confused.
    Cons: Almost impossible to speak to anyone with any authority.

    Summary: I applied for a used auto loan for approx $25k in May 2009.  I have EXCELLENT credit that is absolutely spotless.  I have a six figure salary, a very reasonable mortgage and I carry NO credit card debt.  After NUMEROUS attempts to get an ... read more

  • I got denied a $5500 used car loan without even submitting application

    Sep 10, 2009 by
    Not yet rated.
    Pros: The lady that helped take my $25 deposit over the phone was very polite.
    Cons: Dishonesty when asking why my application got denied prior to submitting it.

    Summary: I was in the process of applying for a loan online only after having to pay $25 member fee to get signed up. I filled out the application & noticed I was going to be running late to pick my wife up if I stayed to proof read & ... read more

  • PenFed-Going, Going, Gone

    Feb 19, 2009 by
    Rated a Very Helpful Review
    Pros: Seems easy to do
    Seems cheap
    Cons: You get what you pay for
    Inexperienced staff
    Appraisals will be lower than the market price

    Summary: I joined this CU to do a refinance of my home. It was a nightmare. If you are thinking about using them.....go somewhere else. They took a month before they even called me. 750 + FICO and submitted all docs (taxes/paystubs) which were perfect and more ... read more

  • Pentagon Federal Credit Union mortgage loans are a huge scam

    Dec 30, 2008 by
    Not yet rated.
    Pros: None.
    Cons: Horrible service. Loan denial for no reason.

    Summary: Pentagon Federal Credit Union will deny you a mortgage loan for no reason apparently but happily keep your $65 application fee. They are a rip-off. Do not trust them. We have inquired with several lenders. All accepted us and wanted our ... read more

  • Pentagon Federal Credit Union... the gift that's kept on giving

    Jun 30, 2008 by
    Rated a Very Helpful Review
    Pros: Good rates, decent service.
    Cons: Very conservative. Lots of fees. Few branches.

    Summary: I became a member of Pentagon Federal Credit Union (PFCU) in May 1994, as I was graduating college. My older sister, Becky, opened a savings account for me there as a graduation present. Looking back on it now, I think it was a very creative and ... read more

  • Declining customer service and less of a bargain

    May 24, 2007 by
    Rated a Very Helpful Review
    Pros: Many branches in the DC area.
    Cons: Abysmal customer service and a decreasing bargain.

    Summary: I have been a member of Pentagon Federal Credit union for a fair number of years. The institution was once unparalleled for outstanding customer service, dependability, and favorable rates for its members. But unfortunately that is no longer the case. ... read more

  • Flawless service, great lending rates

    Dec 14, 2006 by
    Rated a Very Helpful Review
    Pros: Great service, great lending rates.
    Cons: Not many branches.

    Summary: I have been a member of PenFed for nine years now. In that time, my primary checking account has been with them, I have (or had) a credit card, two car loans, and am about to finish closing on a PenFed Mortgage. In that time, I have never been ... read more

Showing 1-20 of 47 reviews
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