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The Offer
No direct link to offer, sent out via e-mail. Subject line is ‘Yule love this gift: $150 statement credit’
- PenFed is offering a $150 bonus when you add an authorized user
The Fine Print
- No purchase necessary.
- In order to receive the $150 credit to your statement, you must add an authorized user to your account during the promotional period ending December 31, 2021 for your account ending in XXXX.
- If earned, the statement credit will be applied to your account within two billing cycles of the offer end date.
- In order to qualify, your credit card account must remain open, be in good standing, and not become delinquent.
- Statement credit cannot be used to satisfy the required monthly payment on your credit card account and may not be redeemed for cash or cash equivalent.
- This offer is non-transferrable.
- Limit one statement credit per cardholder.
- Offer ends December 31, 2021.
Our Verdict
This requires a SSN to add an authorized user. Not to sure how PenFed authorized users affect credit scores compared to other issuers.
$150 was posted yesterday for me. My January statement closed on 1/21/22.
1/27: PROMO CREDIT: 12/21 AUTHORIZED USER
REFERENCE ID xxxxxxxxxxx
AU has still not received the card.
Email subject: Your $150 statement credit is on its way!
Look for the $150 credit on your February 2022 credit card statement. You earned it by adding an authorized user to your PenFed account. The credit will appear as “Promo Credit: 12/xx Authorized User” on your statement.
Ditto, finally got my authorized user card a few days ago, Same card number, no activation required. Kinda dangerous sending it like that.
Anyone who had paperless+autopay version, did you get $150 credited? I know it says 2 billing cycles, but from past experiences Penfed is pretty quick in posting such credits.
I got the email that credit is on the way. I had paperless+autopay already setup. I removed them added them after a few days. Looks like it worked. Received it on 2 cards.
I received the $150 statement credit today for the paperless & autopay promotion. All I really did was enroll in autopay since I already had paperless set up.
come on Penfed. Show some love to my credit card accounts for Autopay+Paperless statements!!!
Got email today from Penfed offering $150 credit if set up monthly auto pay and enroll in in paperless statements:
Celebrate the season with $150 when you sign up for monthly recurring electronic payments on your credit card account and enroll in paperless statements.¹
HOW TO QUALIFY
Log into your PenFed Online account
and follow these two easy steps:
1. Set up Monthly Auto Pay
Select “Make Payment”, set your payment preferences,
then update “Frequency” to “Monthly Auto Pay”.
2. Enroll in paperless statements
Select “Delivery Preferences” under “Statements & Documents” and update your credit card statement delivery to “Electronic”.
Your $150 statement credit will appear on your February 2022 statement.
Can you fwd the e-mail to [email protected]
Any idea if this would count as a “new” account for the AU for purposes of 5/24 and such? I’d love to add my wife for $150 but don’t want to disqualify her for a Chase account in case another good offer comes around.
The account open date on the credit report for the AU should be the same date as your Penfed card open date.
I was told by Penfed that it would be a hard pull for the authorized user.
How can this be? Where did they get permission from the AU to do a hard pull? I believe legally no one can do a hard pull without consent.
You have to fill out a form and submit it, and on that form you state that you have obtained authorization from the your new authorized user to submit that form and add them to your account. So perhaps that gives Penfed some leeway on pulling at least a soft credit check.
wow. thats insane. i am out then.
I highly doubt they will do a hard pull on an authorized user. Never heard of doing that before.
Anyone have a clue as to whether PenFed has a minimum age for AUs? Some quick googling did not provide an answer
I just contacted PenFed and was told that there is no age limit on the authorized user.
I was told the same. I submitted my form today for a minor.
Eric V
Thank you for contacting PenFed.
There is no minimum age requirement to add an authorized user.
You may add an Authorized User to any card currently held with PenFed. As an Authorized User, the additional cardholder will be given a card with the account number, however the card will display their name rather than the primary owner’s. Please note, account information for the card will be reported on the Authorized User’s credit reports.
To add an Authorized User to the credit account, the form can be downloaded from the following link:
https://www.penfed.org/L-657/
To securely upload your document, please visit penfed.org/uploads.
Thanks
Gadget - Bank Bonus Geek guess my toddler will be getting her first credit card!
Barbie dollhouse dreaming… Mine is older than that but had a Chase AU card for many years.
After 3 business days, I received an email yesterday with a status.
Subj: Your documents with PenFed
We have reviewed the documents you provided for the reference number below and completed your request.
Card Services – 167xxxxx
• Request for Authorized User (Form L-657)
If you have questions or need any additional information, please contact us at [email protected] or visit us online at PenFed.org
So, now I’m just waiting on the card in the mail, and my $150 statement credit in Feb.
I was targeted but is it worth it if it means another pull?
99% of the time, yes.
Is $150 worth it to you personally?
Do they back date AU accounts to when the primary was approved?