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Naga
Naga

do amazon reload using debit card count as 5 debit card transactions? do v have any DP? i am trying now but curious to know

Snowman
Snowman

5 debit purchase
Use *PIN to complete the transaction ??

Mat
Mat

Does it have to be minimum 5 transactions or exactly 5?

Kyle ❤️

5 to meet the bonus requirements. Of course you can use your debit card more if you would like.

macie
macie

was anyone elses online account access blocked by penfed after signing up? ive been locked out for 3 weeks now. i sent them the documents they requested (drivers license, SSN card, utility bill) and they’ve done nothing. ive been emailing to ask for some help and nothing. i called in and was tossed around to 3 different departments then they disconnected me.

at this point im just ready to close my account and file CFPB if thats what it takes to get them to close this out for me and return my initial funding.

just curious if anyone else had the online access blocked at some point and if so, was that resolved for you? sounds like overall ive just been very unlucky

Justin

I signed up for me and P2 (my wife) and my account had no problem (I’ve been a member for 10+ years). P2’s account had online account access blocked. I’ve sent in documentation twice. First time was rejected. Still waiting (3 days now) for 2nd documentation to be approved.

ieatdogfood
ieatdogfood

I highly doubt you will need CFPB to close your account. Anyways, you have 90 days so I don’t see a reason to panic yet. I don’t have my access blocked but I know for a fact they are bogged down by Covid. My issues with them are response via SM/Email (2 weeks), phone wait (30 mins at least), and possibly lost prepaid green envelopes (one for membership agreement and one for debit card order). My issues were all fixed via phone and email reply AFTER they sent me an email first so I have a paper trail and they would be expecting a response. I refuse to send them anything out of the blue, whether it be SM, email, upload via secure whatever, or mail anymore.

Awfh
Awfh

Mine was blocked. After Uploading documents through secured link on their website. I got a reference number to my email. I waited one week after uploading to see if they unblock it but that did not happen to me. So I called customer service. I called on Saturday CS rep was able to pull documents using reference number and she said she will put a request to backend team. And I will be able to access on Monday. I tried on Tuesday Still account is blocked. I called again during business hours this time CS rep placed me on hold and reached to back end team and was able to resolve issue immediately.

tavert
tavert

Disappointed that I missed this one, was just about to sign up and thought I had another few weeks to do it. Next similar post about PenFed should maybe come with a warning about them pulling offers early (like how the Connexus post called that one correctly).

Benjiii
Benjiii

I feel like that’s true for most offers.. as soon as the banks hit their quotas they’ll end the promotion. So better jump on it sooner than later going forward

tavert
tavert

Small banks yes but big banks not so much. My point is, did anybody tell you that or did you pick it up from experience?

Dayn_Perrys_Vape
Dayn_Perrys_Vape

Big banks do all the time. You’ll notice similar warnings on US Bank/BOA public offers, for instance.

ieatdogfood
ieatdogfood

The warning is explicitly stated in the terms and conditions of every bank promotion. You should approach every bank bonus in the same regard.

tavert
tavert

Huh? Explicitly where? The closest thing here was “FOR A LIMITED TIME YOU CAN RECEIVE:
$200” where the footnote stated “Offer valid from 5/4/2020 − 6/14/2020.” No other wording about the offer being removed early at their discretion that I can find in backup copies I made of the terms.

The big banks tend to leave their bonus offers up until their originally stated expiration dates, and often extend them. It’s usually the little guys that take things down unpredictably early, and that’s not something said out loud or up front anywhere as guidance for people who are new to this.

Opening immediately but say, using a less valuable card to put the opening deposit on, can be as much of a missed opportunity as the nominal bonus itself.

ieatdogfood
ieatdogfood

I shouldn’t have used the word “explicit”. A better word would have been “implied”. It’s Bank Bonus 101. If newbies didn’t do their research before getting into this game, well live and learn.

tavert
tavert

I’m making a suggestion that the content of the site would be more useful if it mentioned this kind of thing. There’s nothing about frequency of offers getting pulled early written down anywhere in “A Beginners Guide To Bank Account Bonuses.”

ieatdogfood
ieatdogfood

You took my Bank Bonus 101 too literally. Anyways, one guide should not be an end all be all. I’ll make a blanket statement that everyone should know applying to every promotion known to man. If you don’t agree, there’s nothing else I can say.

All promotions on Planet Earth can at any time and for any reason, be pulled or not honored at the sole discretion of the sponsor.

DoC shouldn’t have to tell you this, you should know this. PenFed being placed on the best bank bonus page should have given you a sense of urgency.

tavert
tavert

I agree with your second paragraph, but I absolutely disagree with your last paragraph. DoC’s format for these posts even has an “expiration date” listed. It might be acquired knowledge through experience that that date isn’t to be taken at face value – what I’m suggesting is more explicitly saying that, in more places, within these posts on this site (and in the central one that serves as Bank Bonus 101). I don’t think anyone is helped by hiding that kind of information or leaving it implicit. Post the kind of content that is useful for new people to be able to do their research as you say they should.

William Charles

I think it’s kind of redundant to have every post listed as ending as ‘xx date unless pulled early’. I’ll include it somewhere in the beginners guide.

tavert
tavert

A mention in the beginners guide would be appreciated. And when in the poster’s judgement you think it’s especially likely to happen, a note in the specific article (in the “Our Verdict” section or by the expiration date or up front) as was done for the Connexus post would help as well. So the next post on a PenFed bonus would be a good place to do that, given the now-established track record.

William Charles

Yeah I do add it in the our verdict section when I think it’s particularly likely to happen. I didn’t think that was the case this time, but it’s always a risk.

Kyle ❤️

I think for most people it’s common knowledge, even for someone who is brand new to this site. I don’t think common knowledge need be explicitly stated.

tavert
tavert

How so? When you get a coupon for a discount on something that says “valid until [date]” you don’t usually have to worry about the offer suddenly disappearing early, as long as it remains in stock etc.

Shake
Shake

Exactly, you answered yourself. So what happens here is the offer goes out of stock.

tavert
tavert

I’ll shut up since other people participating in this thread all apparently disagree with me, but my main point is it’s better to write things down if they’d be helpful than not to. The warning that the Connexus promotion from a few months ago was likely to get pulled early was the only reason I signed up in time, and I’m sure several other DoC readers did so too because they were given a heads up about it. It’s easy to skip over content if you already know about it (and I’m only asking for a sentence or two in a subset of posts), but missing out on a sense of urgency if there’s no such warning means fewer DoC readers will get in on deals while they last. There’s no way I’m the only person on here whose natural tendency is to wait until the last minute to do things.

William Charles

Connexus was more clear cut that it was going to be pulled early IMO, that’s why I warned about it. PenFed I didn’t think it would be 100% be pulled early but it’s always a risk in waiting.

Kyle ❤️

50¢ off a loaf of wonder bread is just not comparable to a free TV. If best buy said they were giving away free TV’s until the 31st of the month I wouldn’t risk them still having any left past day 1.

Gadget - Bank Bonus Geek

Expect nearly every non-hard pull nationwide bonus to end early, esp when there was no DD required and add that with the current economy / high unemployment.

The smaller banks and CU’s likely set aside X amount of dollars for promotions, and when they project that has been used up, they shut it down.

May 5th – Direct quote: “Also, if anyone is on the fence about signing up for this offer, do it now. It would not surprise me that when they get in the office tomorrow and see 10,000 new members that they shut this down early.” Ref: https://www.doctorofcredit.com/penfed-200-checking-bonus-nationwide/#comment-972250

tavert
tavert

If that’s the rule of thumb, should be simple enough to warn as such in the article. There were enough comments here that advice that only happens in the comments is easy to miss.

DP719
DP719

tavert – please don’t sweat over all the comments here that are going against you. We (or at least I) just don’t think it is right for you to blame DoC. Compared to those severely impacted by the pandemic, we are blessed. Let’s smile and move on.

tavert
tavert

Where was I blaming DoC? That wasn’t my intent at all, merely making a suggestion for next time this bank makes a similar promotion. I screwed up by waiting too long on this one, and a reminder next time would help others avoid making the same mistake I did.

tribesman55
tribesman55

Did anyone receive any documentation from PenFed confirming that they were enrolled in the $200 bonus?

bckr
bckr

It was more of an insert that came with other documents in the mail.

scan:
https://imgur.com/DM1wk0Q

tribesman55
tribesman55

I received the 2 mail-pieces that had those forms I had to sign and mail back, and another piece of mail with my debit card. Was the insert in any of those?

Jason_08
Jason_08

I got it for 2 of the 3 of us that signed up.

bckr
bckr

Yes, it came as an insert with the forms you had to sign and mail back.

Jim
Jim

You’re required to mail forms back to earn the bonus?

vc
vc

i think that some ppl were not mbrs before and had to fill out some forms, or they somehow didn’t complete the enrollment online. i didn’t get any forms. i was a mbr already, though.

bckr
bckr

You’re right, they were just signature cards required for new members. Not bonus related.

Dave Holzman
Dave Holzman

I sent an email asking for confirmation the bonus promo was attached to my account. It took them _forever_ to reply with an ambiguously worded email: “Our records indicate you may be eligible for the promotional bonus, so long as all criteria is met.” …. may be eligible?

Svy
Svy

I called today to get my debit card ordered. At the end, I asked about the promotion being attached to my account, and that CSR said that I opened my account on May 4th and the promo ran from 4 – 2? May, so I should be good to go “automatically.” I guess we will see.

vc
vc

i didn’t. kind of annoyed that some received confirmation and others didn’t. after seeing the comment in this thread about the rep telling the poster that they signed up during the qualifying period, i called and asked if he could see that i signed up for the promo. he asked when i signed up. i asked if a promo code/link was required or if it was just automatic. he said that it’s automatic. he even went over my transactions and said that i’d get it w/in 90 days. that’s 3 reps so far, so at this point, i’m not concerned. it’s on their recordings lol

john
john

Does anyone know if it’s ok to use the debits at a gas station? I was going to do 5 for less than a dollar each.

Kyle ❤️

You could yes. I just added the card to my PayPal account and sent a family member $0.01 X5 which costs $.01 each transaction. Cost me $.10 and my Mom got a nickel.

john
john

Thanks Kyle!

SDubbs
SDubbs

Interesting. I couldn’t add it to paypal. “Your card was declined by the issuing bank. Please try a different card or contact your card issuer with questions.”

Kyle ❤️

Strange, I wonder why. Do you plan to contact them?

Gadget - Bank Bonus Geek

That is a debit. Keep in mind that doing back to back transactions at the pump might eventually fail. They also can put a hold on $50 or $75, I believe. Not an issue if you have $500 in there, but if you only have a small balance they might not go through.

BraveKitten
BraveKitten

I opened an account but since my Equifax was frozen they only opened the regular membership shares account. I unfroze my Equifax and was informed that to open a checking account they would need to do a hard credit pull. I said no and closed my account.

Alex
Alex

I’ve met all the requirements…now we wait.

Ashok
Ashok

Is the 1200 deposit in addition to the initial funding at time of account opening or its needs to be another 1200$ apart from the initial funding. Anybody clarified this with penfed ? Please confirm

Another Dan
Another Dan

I asked for clarification after opening with $500 and this was their email response:

* Deposit at least $700.00 more into the account within the first 90 days.
* Make at least five debit card purchases in within the first 90 days.
* Keep the account open, active, and in good standing for up to 120 days after
the above criteria have been met.