We applied for a car loan using their car buying service. With credit scores of 799 and 822 we should qualify for their lowest rate advertised at 3.39%. Today we were approved for the loan at 4.54%. When I asked why we did not receive the lowest rate they said they had no way of knowing. When I asked to speak to someone who could, they said that was not possible and they don't negotiate the rates. I feel like it was bait and switch. Now we have a hard credit check and I don't feel like we should go to another financial institution. I would not recommend this credit union.
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Established in 1935, Pentagon Federal Credit Union (PenFed) is America’s second-largest federal credit union, serving over 2.1 million members worldwide with over $26 billion in assets. PenFed Credit Union offers market-leading certificates, checking, credit cards, personal loans, mortgages, auto loans, student loans, and a wide range of other financial services. PenFed Credit Union is federally insured by the NCUA and is an Equal Housing Lender.See more
