Penfed joint borrower authorization 2025

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The document is a Joint Borrower Application and Consent Form for existing PenFed members, requesting personal and financial information from an individual applying as a joint borrower on a credit application. It outlines the responsibilities of the joint borrower, including potential debt collection methods and implications for credit records. The form requires details such as employment status, income, expenses, and authorizes PenFed to obtain credit reports. By signing, the joint borrower certifies the accuracy of the information provided and agrees to the terms.

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Got questions?

We have answers to the most popular questions from our customers. If you can't find an answer to your question, please contact us.

Does PenFed report authorized users?

PenFed reports account information to all three of the major credit bureaus, which affects not only the users credit history but also the primary cardholders. Authorized users may be removed from an account at the users or primary cardholders request at any time, and for any reason.

How do I remove an authorized user from PenFed?

Removing Authorized Users Log in to PenFed Online or the mobile app. Scroll down to find your credit card account. Click the More drop-down button and select Manage Authorized Users. Click Remove next to the authorized user name to be removed. Follow the prompts to submit your request.

How do I remove an authorized user from my account?

To remove an authorized user, call the number on the back of your credit card to reach the card issuers customer service number and request the authorized user to be removed from the account. Some credit card issuers may even allow you to remove an authorized user online or via the companys mobile app.

What credit score do you need for PenFed mortgage?

Satisfactory credit score (typically 620 or higher) Proof of income (typically 1 - 2 months of paystubs) At least 1 year of W2s. Available for purchase or refinancing a primary residence only.

How do I remove a joint owner from PenFed?

To remove a joint owner from your deposit accounts with PenFed you will need to complete the following forms: Form 834, Joint Owner Removal Without Consent The forms listed below must also be completed and submitted for each account type you are updating.

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Who can be a member of PenFed Credit Union?

Upon the death of a joint owner with the right of survivorship, the funds in the account belong to the surviving owner(s). Upon the death of a joint owner without survivorship, PenFed may, upon request, pay funds in the account to surviving joint owners, or to the representative or heirs of the deceased owner.