ComplaintsforPenFed Credit Union

• Initial Complaint

  05/15/2023

  Complaint Type:

  Billing Issues

  Status:

  Answered

  More info

  I find this account to be incorporated with inaccurate information, I strongly believe this to be misleading and misrepresentation of my credit history. Please investigate and remove this PAID chargeoff from my credit report immediately.

  Business response

  06/19/2023

  We received your Better Business Bureau complaints on June 5, 2023. We appreciate the opportunity to address your concerns.
  
  Thank you being a member with PenFed since 2014. We appreciate the opportunity to address your concerns.
  
  Our records confirm we are reporting a PenFed credit card and two bill consolidation loans as charged-off accounts to the consumer credit agencies. After we had not received adequate payment, we charged off the bill consolidation loans on January 18, 2019, and subsequently sold them to Axiom for collection efforts.We charged off the credit card on March 27, 2019, and sold the account to *********************  
  
  PenFed does not change information that is reporting correctly. We believe the integrity of the information obtained through these agencies is reliant on all financial institutions reporting full and accurate information. As we are furnishing accurate information to the three major consumer credit reporting agencies, I am not able to remove the accounts.
  
  We trust this response provides clarity to your concern.
  
  Sincerely,
  
  Vice President, Collections

• Initial Complaint

  04/15/2023

  Complaint Type:

  Billing Issues

  Status:

  Answered

  More info

  I noticed I had late payments from PENTAGON FEDERAL CR UN on my credit report. During these months I did not receive anything stating I was late. As you can see, majority of my payments have been on time so I am requesting the removal of these late payments from my account. I am trying to increase my score to purchase a home and would greatly appreciate if you guys can submit a request to the credit reporting agencies to remove the late payments.

  Business response

  05/24/2023

  We received your Better Business Bureau complaint on May 11, 2023. We appreciate the opportunity to address your concerns.
  
  We carefully reviewed your loan payment history and determined the information we are reporting to the credit reporting agencies is accurate. We understand your desire to improve your credit score; however, we do not change information that is reporting correctly. We believe the integrity of the information obtained through these agencies is reliant on all financial institutions reporting full and accurate information.
  
  If you have any additional questions regarding your accounts, please feel free to contact our member service team at ************.
  
  Sincerely,
  
  Senior Vice President, Consumer Products

• Initial Complaint

  04/10/2023

  Complaint Type:

  Billing Issues

  Status:

  Answered

  More info

  PenFed issued me a blank check voucher, which I was to use to withdraw funds from my credit card account in order to pay bills or make balance transfers. I withdrew money from my credit card and deposited into my personal checking account based on PenFed's offer. I then proceeded to pay bills using this money I deposited. Shortly afterwards, I came to find out that the voucher had been reversed by PenFed due to some marketing error on their end. Consequently, I had over drafted, and all payments I made with money I thought I had, was reversed. I was able to convince most of my debtors not to charge me late or reversal fees except for one business, ****** *******, who charged me $25. I have since closed my credit card account with PenFed due to their incompetence, but I want my money back for a reversed payment, for which I paid the price.

  Business response

  05/16/2023

  We received your Better Business Bureau complaint on May 2, 2023. We appreciate the opportunity to address your concerns.
  
  We sincerely apologize for any inconvenience caused by your balance transfer check being rejected. On May 10, 2023, we issued a $25.00 credit to your PenFed share account to reimburse the fee you were charged.
  
  We regret this experience left you with an unfavorable impression of our credit union and ask that you allow us the opportunity to restore your confidence in our ability to meet your financial needs.
  
  Sincerely,
  
  Senior Vice President, Operations Support

• Initial Complaint

  03/29/2023

  Complaint Type:

  Billing Issues

  Status:

  Answered

  More info

  On March 29, 2023 a representative of PenFed Credit contacted a friend of mine in reference to my account. The PenFed representative left a voice-mail that was ultimately forwarded to me.

  Business response

  04/17/2023

  We received your Better Business Bureau complaint on April 13, 2023. We appreciate the opportunity to address your concerns.
  
  We are sorry to hear we have the wrong contact information for you. Please call us at ************.One of our representatives would be happy to assist you with updating your phone number.
  
  Thank you for being a member of PenFed.
  
  Sincerely,
  
  Senior Vice President, Regional Service Center

• Initial Complaint

  03/01/2023

  Complaint Type:

  Billing Issues

  Status:

  Answered

  More info

  I opened an account at Pen Fed both savings and credit card. I started to question why I didn't get a bill yet. Tried to call, tried to set up the app, and tried to get online, which all were unsuccessful. Called on a weekday. Told they sent a statement electronically. I strictly do paper. They want to charge for paper, so I want to close the account. I do not have a statement to look at so I asked questions like, did I get a late fee, charged interest, when will the account receive the reward balance? Because I couldn't get these answers from staff, I paid what I thought was half of my bill. I went online to see my statement and it was not there. I pay every credit card off every month, but can't see what that amount is, can't transfer points, can't close the savings account. Their website is not user friendly, they are unavailable during the weekend, and their app is not user friendly.

  Business response

  03/16/2023

  We received your Better Business Bureau complaint on March 9, 2023. We appreciate the opportunity to address your concerns.
  
  We were disappointed to hear of the issues you had accessing your account statements, and that you felt the quality of service you received from us did not meet our standards. We strive to provide excellent service each time you contact us.
  
  Thank you for taking the time to speak with a Member Engagement Service Support Lead on March 14, 2023, regarding this matter. We are pleased to hear they addressed your concerns and that the issue is now resolved.
  
  Please call us at ************ if you have any additional questions.
  
  Sincerely,
  
  Senior Vice President, Operations Support

• Initial Complaint

  02/02/2023

  Complaint Type:

  Order Issues

  Status:

  Resolved

  More info

  The lack of customer service etiquitte and professionalism at Pen fed has reached its pique, there too much conflicting information that i have been provided within the last 6 months, harrassing calls where everyone is not on the same page, I fell behind on my payments due to loss of income, in October 2022 i was offer to take part in o the Bump program that would offer me to catch by make 3 consective payments on the loan, I called today to follow up with that and speak with a ****** in collections who was not only rude and professional but very combative, by not even been even close to empathetic, i expressed how i did"nt understand how i signed a legal document agreeing to a program and was following on my end to carry out the agreement and being harrassed by several reps almost everyday still asking for a past due balance, she then became defensive, condescending and rude, by reminding me my loan is still past due..which i was totally aware of but what is the point of the Bump program, if you still have rude represenative treating customers as if you personally owe them money, she began to be confrontational and argumentive, and switched to playing victim to switch it on me then hung up the phone, i called back and was circled to a ****** and after spending an additional 15 minutes to describe the situation, despite my request of the collections department he then informs me that he has to transfer me to another department...I at this point was tapped out mentally because no one has any level of compassion at this company, very indigenius ..i made my 3 consecutive payments and pen fed needs to honor the agreement...

  Business response

  02/24/2023

  We received your Better Business Bureau complaint on February 13, 2023. We appreciate the opportunity to address your concerns.
  
  We are committed to providing superior service to our members in every interaction. We regret you did not feel respected and assisted in your recent communications with us.
  
  Thank you for speaking to a Default Specialist on February 20th and for submitting the requested documents to re-enter the bump program. Please feel free to reach out to them if you have any additional questions regarding this issue.
  
  Sincerely,
  
  Vice ********** ***********

  Customer response

  02/26/2023

  [A default letter is provided here which indicates your acceptance of the business's response.  If you wish, you may update it before sending it.]
  
  Better Business Bureau:
  
  I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me. 
  
  Regards,
  
  **** ****
  

• Initial Complaint

  01/31/2023

  Complaint Type:

  Order Issues

  Status:

  Answered

  More info

  I filed a hardship request for my auto loan account number ************* , I submitted all documents requested and my file was closed because my bank statements where not received. I submitted bank statements on Jan 20, 2023 at 4:12pm , I called and verified if documents where received and if any other documents needed , i was told everything was good and someone would contact me. I have been struggle with hardship department and I need help because I applied since the end of sept 2023. Just FYI I was told if I had direct deposit that I did not have to send paystubs . Proof of bank statements received please check email [email protected] at 4:12pm on Jan 20, 2023 and other bank statements followed at 4:14pm on Jan 20, 2023

  Business response

  02/16/2023

  We received your Better Business Bureau complaint on February 11, 2023. We appreciate the opportunity to address your concerns.
  
  I regret any miscommunication regarding the documents required to complete your hardship application. I can confirm we received your bank statements on January 20, 2023, but still require additional documentation to finalize the application for permanent assistance.
  
  Thank you for speaking with our Consumer Credit Workouts manager on January 31st and February15th regarding this matter. I encourage you to reach out to them directly if you have any further questions or concerns. We look forward to completing your application and assisting you with your auto loan.
  
  Thank you for the opportunity to serve you.
  
  Sincerely,
  Vice President, Consumer Lending Operations
  

• Initial Complaint

  01/27/2023

  Complaint Type:

  Billing Issues

  Status:

  Answered

  More info

  I refinanced a vehicle loan with PenFed at a very low interest rate. After the transaction was completed, they tacked on a $3500 fee for insurance, although.this vehicle is insured and has been insured. I've repeatedly submitted the insurance verification and the charges on still on my account. In addition to my normal payment which is $500 per month, they are charging me an additional $500 per month and it shows that my account is delinquent and they increased my interest rate to 17.99% when it had been less than 4%. My insurance company has submitted the insurance verification as well. They keep sending me emails that say they're working on it and to give it 2 weeks, but it's been months. This truck is in my name and my father's name and the truck is insured on my dad's insurance policy. Repeated attempts to email go unanswered or I received just a generic reply. They've ruined my credit and have increased my payments so high that it's impossible to pay. My credit score was over 700 when I refinanced with them at a rate less than 4%, and they've increased my rate to 17.99%. because of their negligence, I'm unable refinance with another lender because they've reported my account as delinquent.

  Business response

  02/14/2023

  We received your Better Business Bureau complaint on January 31, 2023. We appreciate the opportunity to address your concerns.
  
  Your PenFed auto loan disbursed on February 10, 2022. Per the terms of your promissory note, you are required to maintain sufficient insurance coverage and provide us with a declarations page or other proof showing PenFed as the lienholder. We notified you in writing multiple times by mail and email that we had not received sufficient proof of insurance coverage prior to purchasing a Collateral Protection Insurance (CPI) policy on June 1, 2022. We successfully verified your insurance coverage on January 30, 2023, and issued a full refund for the CPI. On February 2, 2023 we submitted an update to the credit reporting agencies to remove the late payments that were related to the CPI placement.
  
  Regarding your interest rate increase, the terms of your promissory note state:
  
  I agree to apply for and provide you with a Certificate of Title or any other document constituting proof of ownership of the collateral and your interest in it. I further agree to furnish you with such information and execute and deliver such documents and take any and all action necessary and appropriate to establish, perfect and maintain your valid and prior security interest and lien in the collateral.
  
  IF I FAIL TO TAKE THE ACTIONS I HAVE AGREED TO IN THIS SECTION WITHIN 150 DAYS OF THE DATE OF THE LOAN, I SHALL BE IN DEFAULT AND IN ADDITION TO THE REMEDIES OTHERWISE AVAILABLE TO YOU, I AGREE THAT YOU MAY, AT YOUR OPTION, INCREASE THE ANNUAL PERCENTAGE RATE I PAY ON THE LOAN TO THE HIGHEST RATE THEN IN EFFECT ON YOUR CLOSED END UNSECURED LOANS.
  
  We received the lien release from ************ and mailed multiple notices to you explaining what action is required from you to perfect the lien. We also emailed and called you on February 1, 2023 to help clarify we need to resolve the title issue, but we were unable to leave a voicemail.
  
  We have temporarily reversed the interest rate and monthly payment increases to allow you more time to provide us with a perfected title. Please call us at ************ and we will be happy to assist you and explain your next steps.
  
  We hope our actions have resolved your concerns, and we look forward to hearing from you.
  
  Sincerely,
  
  Vice President, Unsecured Loan Products

  Customer response

  02/20/2023

  [To assist us in bringing this matter to a close, you must give us a reason why you are rejecting the response. If no reason is received your complaint will be closed as Answered]
  
   Complaint: ********
  
  I am rejecting this response because:
  
  Regards,
  
  *************************
  

• Initial Complaint

  01/25/2023

  Complaint Type:

  Billing Issues

  Status:

  Answered

  More info

  I spoke with a representative and told them I did not approve an inquiry and withdrew my application. I don't know if I will need to file a lawsuit in reference to this matter. It showed that I had an excellent score of 751 prior to the inquiry. Now my score has dropped. I take this very seriously. I did not want this company to pull my credit report. I specifically spoke to a representative and told them this information. They said you can contact them to confirm the application has been withdrawn. I withdrew it almost immediately. The credit application ID# is ******** with PenFed Credit Union. It appears as the following on *******'s website/report. PENTAGON FCU-ALEXAND Address Date of inquiry ****************************************************************** 01/25/2023. Also, I noticed several other duplicate inquiries from the same company multiple times on my report. I never applied for a Discover credit card. So why is this on my report several times? I can have an attorney file a complaint in court if needed. I know what inquiries I authorized, and these are not any of them. ******** ********* S Address Date of inquiry ************************* RIVERWOODS, IL*********** 01/16/2023. There are many other suspicious inquiries on the report which I will also file a lawsuit about/against if needed. This is very suspicious, and they need to remove this false information or possibly go to court about the matter.

  Business response

  02/07/2023

  We received your Better Business Bureau complaint on January 30, 2023. We appreciate the opportunity to address your concerns.
  
  Thank you for considering PenFed for your credit card needs and for the opportunity to address your concerns. PenFed takes credit-reporting responsibilities very seriously and obtains written or electronic authorization from members and prospective members before obtaining a credit report.
  
  A review of your January 25th call confirms you consented twice to PenFed acquiring a credit report. We pulled a soft credit inquiry for your checking account application and a hard credit inquiry for your credit card account application. We conditionally approved the credit card application pending income verification. In a subsequent call later that day, you requested to withdraw the application. Our representative clarified we had already pulled a credit report.
  
  As you authorized our credit inquiries, we will not make changes to our reporting with the consumer credit reporting agencies.
  
  We are disappointed to hear you are considering ending your membership with us. We hope you will grant us the opportunity to continue earning your membership for many more years.
  
  Sincerely,
  Senior Vice President, Consumer Products

  Customer response

  02/09/2023

  [To assist us in bringing this matter to a close, you must give us a reason why you are rejecting the response. If no reason is received your complaint will be closed as Answered]
  
   Complaint: ********
  
  I am rejecting this response because:I did not consent to any hard inquiries on my report that would affect my credit score
  
  Regards,
  
  ***************************
  

• Initial Complaint

  01/23/2023

  Complaint Type:

  Order Issues

  Status:

  Answered

  More info

  I am receiving numerous USPS mailings regarding this company. I do NOT want these mailings, nor did I request them.You are to remove **ALL** my information **IMMEDIATELY** from your system, and send me no more mailings. You are also to **ONLY** respond to this complaint through the BBB via public readable messages.If I receive any more mailings or any phone calls from you, you also agree to a $1000 payment per instance to cover my time/effort.I will accept **NO** other response than what is stated above.

  Business response

  01/27/2023

  We received your Better Business Bureau complaint on January 27, 2023. We appreciate the opportunity to address your concerns.
  
  As stated in our prior responses to you on August 29 and September 9, 2022, an Analyst with our Consumer Banking Member Experience team called you on August 23, 2022, and left you a voicemail with their contact information. They also sent you a follow up email to which you replied stating you did not wish to speak with our representatives directly.
  
  During our initial review, we found we were unable to locate an active membership in your name. This indicates you received a general solicitation mailer from PenFed. These mailers are based on information provided to us from the consumer credit reporting agencies.
  
  PenFed is only able to update solicitation preferences for current or previous PenFed members. If you would like to be removed from receiving pre-screened offers from creditors, please go to ***************.com.You can also reduce the number of mailed advertisements you receive at dmachoice.org. Please note these options apply to all marketers and lenders and are not specific to PenFed.
  
  As disclosed on the mailers you received, you may also contact ******* directly at ************ or by mail: *******, ******************************************.
  
  We trust this response provides final clarity to your concern.
  
  Sincerely,
  
  Senior Vice President, Marketing

  Customer response

  01/31/2023

  [To assist us in bringing this matter to a close, you must give us a reason why you are rejecting the response. If no reason is received your complaint will be closed as Answered]
  
   Complaint: ********
  
  I am rejecting this response because:

  I am receiving mailings regarding your business, therefore **YOU** and **YOU** alone are responsible for them. You are to cease sending said mailings, if you refuse to do so, then you agree to the $1000 per mailing received for "disposal charges" for said mailings.

  It is VERY poor business practice to send mailings to a customer and then refuse to do anything about it.

  Regards,
  
  *************************

*Some consumers may elect to not publish the details of their complaints, some complaints may not meet BBB's standards for publication, or BBB may display a portion of complaints when a high volume is received for a particular business. ↩