With AutoPay, payments are automatically made on your due date each month.
Once you’ve enrolled in PenFed Online, you can set up AutoPay and make automatic monthly payments to your Credit Card(s).
You've got options when it comes to how much you pay:
Your minimum payment: the amount will vary according to your new balance amount each month and will be shown on your monthly statement.
Your last statement balance: the balance amount (your total balance as of the date your statement was issued) indicated on your monthly statement.
A fixed monthly payment: an amount of your choice. There is no minimum monthly fixed amount. If your current balance is less than the fixed monthly payment amount, we will only process the payment for the amount you owe.
Setting up AutoPay:
To set up AutoPay, enter the required information including the credit card account you want to pay, the payment account you want to pay from, and the payment amount. Your payment will be made on the cycle date each month.
Log into PenFed.org
- Click “Make a Payment” button on the desired credit card
- Choose your “from” and “to” accounts from the dropdown
- Under “Frequency” click the dropdown and choose “Monthly AutoPay”
Under “Payment Option” click the dropdown and choose the amount you would like to set up for AutoPay.
Making additional payments while AutoPay is set up:
Extra payments are welcome, but will not cancel or change any scheduled payments. AutoPay payments still occur unless you cancel them. Sometimes this can lead to you paying more than you intended for the month.
If you choose to pay a fixed amount and that amount is less than the Minimum Payment, you’ll need to make an additional payment to keep your account up-to-date and avoid late fees.