Consumer complaint received 2020-09-16
Company: PENTAGON FEDERAL CREDIT UNION
State: TX
Product: Credit card or prepaid card
Sub-product: General-purpose credit card or charge card
Issue: Other features, terms, or problems
Sub-issue: Problem with customer service

Complaint:
The following is a copy of the email message we sent yesterday to the top executive officer with the credit union we are having the problem with. Our problem is about the lack of promised customer service since the underwriting department canceled an approval made the previous day for a credit line increase to cover two balance transfers. This message to the top executive is a good narrative of what happened and has been edited to remove personal information per CFPBs complaint form instructions : Subject : Escalate to Ms. XXXX XXXX / ref. XXXX On XX/XX/2020 we were approved for a credit line increase for the amount needed to transfer the balances on my two XXXX credit cards.

The same person who informed us that our request was approved also handled the balance transfers during the same phone call ( please listen to the entire recording PenFed Credit Union has of our  XX/XX/XXXX conversation ). 

A week later we became concerned that there are still balances on my two XXXX credit cards that should have by then have been electronically transferred to my PenFed credit card as was promised by the PenFed employee who we spoke to on XX/XX/2020. 

On XX/XX/2020 we called to find out why that there were still balances on my XXXX credit cards and that is when we were shocked to learn that, though we had not been informed, the credit increase approval had been reversed on XX/XX/XXXX by an employee in underwriting. 

We spoke with a PenFed manager, XXXX, who promised to not only listen to the recorded phone conversation of XX/XX/XXXX herself, but that she would make sure a supervisor in underwriting would also listen to the recorded phone conversation. 

XXXX instructed me to request in writing that the decision to decline our promised credit line increase that was made on XX/XX/XXXX and then declined on XX/XX/XXXX be reconsidered. 

I complied with Silvias instruction and sent a request for reconsideration request via email on XX/XX/2020. 

On XX/XX/2020, I called to ask for the status on my reconsideration request. I was told that the supervisor scheduled to listen to the phone recording of our XX/XX/XXXX conversation would not be in until today, XX/XX/2020. 

Late this afternoon I called to check on the status of my reconsideration request and ultimately spoke with XXXX. 

XXXX checked the entire file that PenFed has of this case per the above reference number and conveyed to me more shocking news : Not a single employee with PenFed Credit Union has taken the time to so much as review my request for reconsideration, let alone has anyone taken the time to listen to the XX/XX/XXXX telephone recording that XXXX promised she would do as well as ensure someone in underwriting would have listened to the recording no later than Saturday, XX/XX/2020. 

Ms. XXXX, my wife and I are each members of PenFed Credit Union in good standing, both of us have very good credit scores, our debt to income ratio is low, seventy-five percent of our {$80000.00} income is not taxable, our mortgage payment is actually less than we reported in that our house payment includes the premium for our homeowners insurance premium, and there are many more reasons why we should not be considered as high-risk loan applicants. 

All of the {$80000.00} we disclosed as our income is from Social Security and from XXXX veteran compensation so there is no risk that we will ever see a reduction in income. 

Ms. XXXX, we have asked PenFed to escalate this request for reconsideration to you because we are searching for someone at PenFed that truly cares about the concerns of its members so we are now starting our search at the top.

Company public response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
Company response to consumer: Closed with explanation