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This letter is in response to your complaints filed with the Consumer Financial Protection Bureau and the Revdex.com. They were forwarded to Pentagon Federal Credit Union (PenFed) on February 10, 2018. We will provide a copy of this response to the both agencies. We received...

your request to remove the authorized user from your closed PenFed [redacted] account on February 8, 2018. We made the change to the account on that same date, and on February 15, 2018 we submitted an update to the three major credit reporting agencies, [redacted], and [redacted], to remove the account from your wife’s credit file. It might take up to 90 days for the change to appear on her credit report. In the meantime, please allow this letter to serve as confirmation that the change has been submitted.I hope the actions taken to resolve this issue meet with your satisfaction. If you have further questions or concerns, please contact us at ###-###-####.                                                                      Sincerely,                                                                                                        ...⇄ Senior Vice President                                   �...⇄           Payment Products & Services

Your rejection of our response filed with the Revdex.com (Revdex.com) regarding your Pentagon Federal Credit Union (PenFed) membership was received in my office on February 22, 2016. I appreciate the opportunity to follow up with you.
 
I was pleased to hear you were able to obtain a refund of $19.00 from your credit card company. We received confirmation from your credit card issuer of the refund to your credit card account.
 
We placed a stop payment on the PenFed check issued to you, in anticipation of your receipt of the funds by other means. Please do not cash the check, and it may be destroyed.
 
Thank you for considering membership with PenFed.
 
Sincerely,
 
Senior Vice President, Operations

Dear [redacted],   I regret our first response to your Revdex.com complaint did not fully address your concerns.   Thank you for taking the time to provide your bank statement copies for our review of your credit applications. Bank statements can be used to verify assets; however, they are not sufficient to document income. PenFed’s lending guidelines for consumer loans are income based. I regret we cannot use your statements to verify the $15,000 additional gross monthly income you listed on your applications. Please send us your last two years of federal tax returns at your earliest convenience.   I am very sorry to hear you were impacted by Hurricane Irma. I hope you are well on the road to recovering from its damage.   Sincerely,   Christopher *. M[redacted] Vice President, Consumer Underwriting   Tell us why here...

Your complaint filed with the Revdex.com regarding your Pentagon Federal Credit Union (PenFed) Power Cash Rewards [redacted] account was received on February 8, 2018. I appreciate having the opportunity to address your concerns.   I would first like to thank you for choosing a...

PenFed credit card. We know you have many choices with the financial and credit card markets. We are very proud to offer the Power Cash Rewards [redacted], and feel it provides rich value to our members.   As a service-oriented institution, we strive to provide the best programs and services possible to our members. Whether by phone or email, our representatives are dedicated to providing you with the highest quality assistance when you reach out to us. The challenges you faced regarding the posting of your rewards and access to them should have been resolved the first time you contacted us, and I am sorry we let you down. Your experience was shared with our management teams so we can implement additional training and procedural changes as needed to prevent occurrences of this nature in the future.   I appreciate you willingness to speak to a Supervisor with Research and Online Services on February 9, 2018. I understand he assisted with restoring your access to PenFed Online, and informed you that the cash rewards you earned since the December 2017 account opening would be retroactively posted, as well as the $100 spending bonus. Additionally, you should now have access to the Rewards Redemption site. I hope the actions taken to resolve these issues meet with your satisfaction.   Thank you for carrying a PenFed credit card in your wallet. We value every opportunity to assist you with your financial needs.                                           ...⇄ Sincerely,                                               ...⇄            Senior Vice President, Payment Products and ServicesTell us why here...

Your complaint filed with the Revdex.com regarding your Pentagon Federal Credit Union (PenFed) Auto Loan was received on April 24, 2017. We appreciate having the opportunity to address your concerns. We apologize for the misunderstanding about the auto insurance coverage...

requirements for vehicles financed by PenFed. Our policy is to cap deductibles at $1,000; deductibles for $1,000 or less are acceptable. We regret we did not make this clear to you prior to the changes being made to your insurance policy. Thank you for providing us with copies of your repair bills and insurance documents. We credited your PenFed Share account for $1,000 on April 28, 2017 to reimburse you for the deductible amount applied to your repairs. We understand you have since made adjustments to your insurance policy to reduce the deductibles. We hope this matter is now resolved to your full satisfaction. We appreciate that you made us aware of this issue so we can ensure we more effectively communicate this information to our members. Our goal is to help our members do better. To realize this, we must examine how we can do better. Thank you for choosing to finance your vehicle with PenFed. We look forward to serving all your financial needs for many years to come. Sincerely,Senior Vice President, Service Center Operations

I understand that my prior response to your Revdex.com complaint did not address all your concerns,In summary, there were a couple of factors that contributed to the problems with your Auto Loan repayment, First, when the monthly amount due was split into two payments, and the second payment was not always arriving by the due date. The other issue was Quit application of your May 4, 2016 payment between two loans, rather than just your Auto Loan. I am Sorry these issues resulted in complications related to your loan status. We have confirmed there are no late payments reported on your consumer credit report for either of your Per Fed loans, If you have a copy of a current credit report that shows otherwise, please provide it to us, and we will submit a request to update the account information, You can provide the copy to us by fax to ###-###-#### or mail to;PenFed Credit Union Attn: Credit Bureau Corrections PO Box [redacted] Alexandria, VA [redacted]
 I hope our communication on these matters has helped to ease some of your dissatisfaction, We are committed to providing you with best-in-class Service.Sincerely,Jim K[redacted]

Thank you for making us aware of your wife’s experience with her PenFed Credit Union.  As you are not a party on this matter, we are not able to provide you with specific information about it. We mailed a full response to your wife on March 5, 2018. I extend my most sincere apology...

to you and your wife for our service failure. The interactions with us that you describe are not at all reflective of our service expectations. Our success depends on your satisfaction. I appreciate knowing of your displeasure. We cannot improve without knowing where our weaknesses lie. Sincerely, Senior Vice President, Operations

[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.]
Revdex.com:
I have reviewed the response made by the business in reference to complaint ID [redacted], and find that this resolution is satisfactory to me. 
Regards,
[redacted]

Dear [redacted], Your complaint filed with the Revdex.com regarding your Pentagon Federal Credit Union (PenFed) [redacted] account was received on August 30, 2017. I appreciate having the opportunity to address your concerns. I regret we were not able to approve a decrease to the rate on...

your PenFed [redacted] account. PenFed must adhere to the Fair Credit Reporting Act and cannot offer you a rate that is outside our lending guidelines. As our credit card rates are based on the applicant’s credit score, we must pull a new consumer credit report prior to considering a rate adjustment. You agreed to the consumer credit report inquiry during the application; therefore, I am not able to remove it from your credit report.  Repayment history with PenFed is not the only factor used in our determination of credit card rates. While it certainly contributes, repayment history with other creditors and utilization of existing lines of credit are some of the other factors that affect a credit score. Regrettably, based on our current lending guidelines, your score did not meet the requirements to reduce your rate. The account will remain at the current 16.99% rate. While I realize this is not the outcome you wanted, I hope this information is helpful in understanding our decision. Sincerely, Sumeet B[redacted] Senior Vice President/Chief Credit Risk Officer

Dear [redacted],   Your rejection of our March 28, 2018 response to your complaint filed with the Revdex.com (Revdex.com) regarding your Pentagon Federal Credit Union (PenFed) accounts was received on March 30, 2018. I appreciate the opportunity to follow up with you.   I am very sorry to hear of the continued troubles you have encountered when attempting to resolve this issue with [redacted]. Since our prior March 28, 2018 Revdex.com response, your name was updated in our systems to help solve the issues related to your name. Your updated name will automatically be reported to the credit bureaus with our next monthly cycle.   [redacted] has informed us that they also manually adjusted your credit file, and your accounts should update moving forward. However, they did point out that any future disputes could block additional information again, and this could include your PenFed account information.   I hope the actions we took resolve this issue meet with your satisfaction. Thank you for being an engaged member of the PenFed community.   Sincerely,   Vice President, Consumer Underwriting and Processing

Dear [redacted],
 
Your complaint filed with the Revdex.com regarding your PenFed Credit Union Platinum Rewards [redacted] Signature account was received in my office on September 14, 2015. I appreciate having the opportunity to address your concerns.
 
I am pleased you chose to...

apply for the PenFed Platinum Rewards [redacted] Signature, one of our leading credit card products, where you earn five points on gas purchases paid at the pump, three points on supermarket purchases, and one point on all other purchases. We have not offered bonus points for new accounts on this product this year. However, we have had an ongoing promotional bonus point offer on the PenFed Premium Travel Rewards [redacted] Card. The travel rewards card offers five points on airfare purchased, one point on all other purchases, and 20,000 bonus points when you spend $2,500 within the first three months of opening the account.
 
If your intent was to apply for the PenFed Premium Travel Rewards [redacted] account instead, we would be pleased to close your [redacted] and open an [redacted] account and provide the 20,000 bonus points on the new account. The switch will also convert your current points to the equivalent that would have been earned with the travel rewards program. This would adjust your current points from 14,735 to 14,793 on the [redacted] account. If you are interested in accepting our offer, please contact a Member Service Representative at ###-###-####. This line is answered Monday through Friday from 7:00 AM to 11:00 PM Eastern Time, Saturday from 8:00 AM to 11:00 PM Eastern Time, and Sunday from 9:00 AM to 5:30 PM Eastern Time.
 
To your second point, we experienced a system outage that temporarily prevented rewards points from appearing on some cardholders’ accounts. A fix was implemented and, as of September 10, 2015, you should have been able to see all points earned to date on your account.
 
I understand the inconvenience and concern caused due to this issue and apologize that you were impacted. I assure you we are evaluating every step of these processes to prevent such an occurrence in the future.
 
I hope this clarification is helpful. I am certain we will earn your trust and grow to become your preferred financial institution. Thank you for choosing PenFed as your new financial institution and for carrying our Platinum Rewards [redacted] Signature credit card in your wallet.
 
Sincerely,
 
 
Senior Vice President, Card Services
PenFed Credit Union

[redacted]   Your complaint filed with the Revdex.com regarding your Pentagon Federal Credit Union (PenFed) Auto Loan was received on August 8, 2017. I appreciate having the opportunity to address your concerns.   I understand your concern regarding the increase to your...

Auto Loan rate. PenFed faces greater financial risk and expense should a borrower default on a loan if the title for the collateral has not been received, and PenFed is not recorded as the lien holder. Therefore, we initiated a policy that allows us to compensate for this risk factor by imposing a higher interest rate on these loans. This information is included in the loan documents provided to you.   We carefully reviewed the documents we received, and our communication with you about the title for your car. While we received several lien releases from your prior lender, we have never received the title. On February 17, 2017 and March 30, 2017 we sent the lien release to you so you could go to the Department of Motor Vehicles (DMV), switch the title from Kansas to Washington and place our lien. We are not able to place a lien with just the lien release. The title is also required.   I understand your prior lender is sending another lien release. When you receive it, please take it to your local DMV and request their assistance in obtaining a duplicate title and placing our lien.   Though your interest rate was scheduled to increase in February, we have granted extensions since that time. We are not able to offer another rate increase waiver as it has now been 11 months since your loan was disbursed. However, when we receive the title with our lien, we will reduce your rate again effective to the date it was increased.   I hope this information is helpful for you in understanding the actions you need to take to complete the title process for your Auto Loan.   We appreciate that you chose PenFed for your loan financing, and hope to have this matter resolved soon.   Sincerely,   Jim K[redacted]
[redacted]

Dear [redacted], Your complaint filed with the Revdex.com regarding your Pentagon Federal Credit Union (PenFed) Regular Share Account was received in my office on August 11, 2016. I appreciate having the opportunity to address your concerns. I was disappointed to learn of the issues with...

your $500 deposit and that you feel the quality of service you received from PenFed on this issue was lacking. In response to your May 23, 2016 email to PenFed you were asked to provide us with a copy of the paid $500 [redacted] check so we could locate the funds. After receiving your Revdex.com complaint, we contacted you by phone to request the check copy. Thank you for promptly sending it to us. We were able to verify the check against our records and release the funds to you. A $500 check was sent to you by [redacted] on August 16, 2016. I hope our actions bring a full resolution to your complaint. Sincerely, James *. K[redacted] Senior Vice President, Operations

I am writing in response to your complaint filed with the Revdex.com regarding a Pentagon Federal Credit Union (PenFed) application for credit. Though you submitted the complaint on September 19, 2017, due to a communication issue, we were not aware of it until October 23, 2017. Please...

accept my apology for our delayed response. We are disappointed to hear of your experience, and would like the opportunity to discuss your application and concerns in greater detail. Mr. , Operations Manager, has been attempting to reach you. He is looking forward to speaking with you, and I encourage you to return his call at .   hank you for being a member of the PenFed community. We value every opportunity to assist you with your financial needs. Sincerely,Vice PresidentConsumer Underwriting & Processing

[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.]
Revdex.com:
I have reviewed the response made by the business in reference to complaint ID [redacted], and find that this resolution is satisfactory to me. 
Regards,
[redacted]

This letter is in response to your complaints filed with the Consumer Financial Protection Bureau (CFPB) and Revdex.com (Revdex.com). They were forwarded to Pentagon Federal Credit Union (PenFed) on February 19, 2018. We will provide a copy of this response to the CFPB and Revdex.com. I understand...

your desire to improve your credit standing, and I am pleased to hear of your plans to resolve the charged-off credit card balance.We assigned the outstanding balance of your [redacted] Platinum Cash Rewards account to a collection agency in 2015 to collect the debt on our behalf. Let me assure you, PenFed owns the debt. I apologize if you received misinformation on this topic from PenFed representatives.Since PenFed has always retained ownership of the debt and we are reporting it as such, there are no grounds for correction to your consumer credit report. Please contact [redacted] Corporation ([redacted]) directly at ###-###-#### to make payment arrangements on your outstanding balance.I hope this information allays your concerns as you look to settle this debt.Sincerely,Senior Vice President/Chief Credit Officer