Automatic Billing Updater
If you have recurring payments set up with a specific merchant(s) on an account and the account information changes due to a card reissue, lost/stolen card, etc., those recurring transactions will NOT continue to process as normal. You will need to provide each merchant with your updated account information.
You have the option to opt out of the Automatic Billing Updater. Removing your card from ABU will prevent future account changes from being sent to Mastercard automatically. Opt- outs are not permanent and you can always re-enroll at a later date. If you wish to opt out of ABU, please call 850.505.3200 to speak to a member service representative or stop into a PenAir location.
- You have a recurring payment set up with a merchant(s).
- Account changes are made to your credit card account (new card number, updated expiration date due to reissue, etc.).
- You will not need to advise merchants about changed account information. The ABU provides updated account information to participating merchants on your behalf. This allows recurring transactions to continue without interruption, thereby resulting in fewer authorization declines.
Any PenAir Credit, Debit, or Business Mastercard® can be uploaded into your Digital Wallet app.
Ready for this one? There’s no application fee. There are no balance transfer fees. There are no annual fees. That’s pretty good, right? We think so too.
Yes! Apply online any time, stop by one of our locations to apply in person, or give us a call during business hours at 850.505.3200 and we’ll take your application over the phone.
We will be happy to have one mailed to your address within 7-10 business days.
Personal Loans & Lines of Credit
You can apply online, in a branch, or call our MSC.
Though Personal Lines of Credit offer some flexibility, there are some guidelines:
- Loan amounts: The maximum amount offered depends on the lender, but Lines of Credit typically run between $1,000 and $25,000.
Unlike a Personal Loan and other financing options where you receive a lump sum of money upfront, a Personal Line of Credit lets you withdraw funds as much — or as little — as you'd like. This means you won't have to pay interest on any money you didn't borrow. Our personal line of credit is a fixed rate.
A Personal Loan gives you a sum of money upfront and requires fixed monthly payments throughout your loan term. A Personal Line of Credit, on the other hand, lets you withdraw as much cash as you need at any point in time and pay it back on your own timeline with a variable interest rate.
Many experts recommend putting at least 20% down on a new car (just like a mortgage) and 10% on a used car. But if you can pay more upfront, that could lower your monthly payments down the road (see what we did there?).
Depending on multiple factors, such as credit score, some consumers may qualify for financing of 84 months of a seven-year term or more.