PenFed Eligibility Rules and Membership Benefits Overview

PenFed is a not-for-profit financial institution that offers a range of benefits to its members. To be eligible for membership, you can join through a family member, employer, or through a PenFed branch.

As a PenFed member, you can enjoy a variety of benefits, including access to low-interest loans and credit cards. You can also take advantage of competitive rates on deposit accounts, such as certificates of deposit (CDs) and money market accounts.

One of the most significant benefits of being a PenFed member is the opportunity to join the PenFed Credit Union. To join, you must meet certain eligibility requirements, such as being a member of the military, a veteran, or a family member of a PenFed member.

To be eligible for PenFed membership, you must be a current or prior servicemember or government employee, or a family member of both groups. Membership is also available to people who live or work at an eligible location.

You can also join PenFed by being a member of one of over 50 different associations, such as the Military Officers Association of America or the Veterans of Foreign Wars. This is a great option for individuals with no military or government service, or family connections.

To join PenFed, you'll need to provide some personal information, including your name, address, date of birth, Social Security number, telephone number, email, and employment status. This is a straightforward online application process that can also be completed by mail or over the phone.

To be approved for a PenFed credit card, you'll need to have good credit, with a credit score of 700 or higher, and proof of a steady income. You must also be at least 18 years old and either a U.S. citizen or permanent resident.

To become a PenFed member, you'll need to meet their eligibility requirements. You can join PenFed if you're a U.S. citizen or permanent U.S. resident with a valid government-issued photo ID.

To apply, you'll need to provide some personal information, including your name, address, date of birth, Social Security number, telephone number, email, and employment status. You can submit your application online, by mail, or over the phone by calling 1-800-247-5626.

To join PenFed, you can select a financial product you need, such as a credit card, savings account, personal loan, or mortgage. You'll also need to open and fund a savings account with $5 to establish membership.

Membership is open to a wide range of individuals, including those with a military affiliation.

You can join PenFed if you're a current or prior servicemember, or a family member of both groups. This includes active-duty members, reserve and National Guard members, and retired members of Active Duty, Reserves, and the National Guard.

You don't need to be in the military to join PenFed. You can join an affiliated advocacy group, such as the National Military Family Association or the Voices for America's Troops organizations, to meet eligibility standards.

To join PenFed, you'll need to select the appropriate eligibility channel and provide some basic personal information, such as your name, address, and date of birth.

Here are some examples of eligible memberships:

You can also join PenFed if you live or work at an eligible location, or if you're a member of one of over 50 different associations.

You can get pre-approved for a PenFed credit card by receiving an offer via mail or e-mail, or through your online account if you are an existing customer.

PenFed does not have an online tool that allows interested consumers to check their pre-approval status.

Pre-approval offers from PenFed will be for one specific credit card, not multiple cards with the highest odds of approval.

PenFed members get industry-leading interest rates on checking, online savings, and money market certificates. These accounts earn interest, and the online savings account requires only a $5 initial balance and has no monthly fees.

You can earn interest on your checking account, which is a unique benefit among military-affiliated financial services companies. PenFed's checking and savings accounts are only free with a balance exceeding $500, but they have a free bill pay feature and a highly-rated mobile app.

With over 68,000 free ATMs, you'll have plenty of options for accessing your money. If you're in an area without a PenFed-branded ATM, the withdrawal fee is just $1.50, which is lower than the national average.

PenFed offers a range of membership benefits that make it a great choice for those in the military and defense community.

One of the standout benefits is the high-yield online savings account, which requires only a $5 initial balance and has no monthly fees.

You can earn interest on your checking account, which is a rare perk among financial institutions. PenFed's online savings and money market certificates also offer industry-leading interest rates.

With PenFed, you'll have access to a vast network of free ATMs, with over 68,000 locations worldwide. If you're in an area without a PenFed-branded ATM, the withdrawal fee is just $1.50.

PenFed's mobile app is highly rated and makes it easy to manage your funds on the go. You can use the app to find the closest in-network ATM and avoid any fees.

In addition to financial benefits, PenFed members also enjoy discounts on various services, including auto repair, rental cars, tax preparation, and floral delivery.

Here are some of the specific discounts and benefits available to PenFed members:

PenFed also offers a Real Estate Rewards program, which pairs potential homebuyers with a network real estate agent and preferred title provider. Members can take advantage of closing costs or origination fee discounts, reducing their overall home buying expenses.

PenFed Credit Union offers a range of credit cards that cater to different needs and preferences.

You can choose from a cash back card, two rewards cards with points, and a low-APR card, including a travel rewards card.

The PenFed Platinum Rewards Visa Signature Card is a great no-annual-fee gas rewards card that earns 1X – 5X points.

The Gold Visa Card is a good low-APR balance transfer card with no annual fees.

The PenFed Power Cash Rewards Visa Signature Card offers a no-annual-fee balance transfer card with cash back, earning 1.5% – 2% cash back.

The PenFed Pathfinder Rewards Visa Signature Card is a good travel rewards card that comes with a possible annual fee waiver, earning 1.5X – 4X points.

To qualify for any of these cards, you'll need to have good or excellent credit, which means a FICO score of 670 or higher.

Here are the details of the featured credit cards offered by PenFed Credit Union:

PenFed Credit Union is a great option for those looking for a credit card issuer, but it's essential to consider other factors beyond just the card benefits. PenFed scores 4.6 out of 5 on Trustpilot, indicating a high level of customer satisfaction.

You can contact a PenFed Credit Union representative through various channels, including phone, email, and social media. They also offer international toll-free numbers for several countries.

PenFed's mobile app is user-friendly, with a 4.2 out of 5 rating on the Apple App Store and 4.5 out of 5 on Google Play. This makes it easy to manage your account on the go.

All PenFed credit cards come with robust security features, including 24/7 fraud monitoring and a zero liability policy. You'll also have access to emergency card replacement and lost/stolen card reporting.

If you're a member of the military or have an active PenFed checking account, you may be eligible for the PenFed Honors Advantage program. This program offers additional benefits, such as earning 4x points on travel categories.

PenFed also offers a range of other financial products, including checking accounts, savings accounts, and personal loans.