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Old 03-25-2014, 07:58 PM   #1
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Vanguard, Costco, Penfed. Om.

Penfed used to be my go-to credit card with their auto deposit of points earned - then it wasn't automatic. Then they devalued their points. Then I found the Fidelity 2% cash back automatic points deposit Visa and Mastercard (which also works in Costco, thanks Nords). All of a sudden I didn't use my Penfed card for the last 6 months or more.

Today they sent me a nice card suggesting that If I wanna put $500 on their card for the next two months they feel like giving me a statement credit of $100 (weasel language says that may take a few month to post..).

I'm feeling the urge to spend $1000 with the ol' PenFed card. Nice to see them coming back in the game. Anybody else get the come on and charge card?
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Old 03-25-2014, 08:09 PM   #2
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Whew, what a relief! I thought you might have had a religious revelation of some sort.

Sounds great!
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Old 03-25-2014, 08:33 PM   #3
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I used to use the PenFed Cash Rewards and then a few years ago they gave us all a lot of incentive points to convert to the Platinum Rewards with the points system. I never really liked it, after redeeming the incentive points it took us a long time to accumulate the 5000 points for the Visa $50 prepaid card. Then they devalued the points.

Last month I reached the new 5900 point level, redeemed for the $50 prepaid card and last week I called PenFed and asked to change back to the Cash Rewards card. It took about a week but we have our new cards. I had hoped to keep the old number but that didn't happen.

We do most of our spending with cash and only use the card for gas so I may as well have the 5% cash credit for gas instead of that awful point system.

So I guess they won't be offering me the deal you got. But I had that nice incentive when they wanted us all to convert to points.

I recently completed a bonus deal with Huntington Bank. Open a checking account, make 10 debit card purchases and they give you $150. After 3 transactions the bonus showed up but I went ahead and made the remaining transactions anyway. I made transactions like 3 postage stamps, a dozen eggs, a green pepper, more stamps, a bag of ice, 2 apples, etc.

Now I just have to keep the account open for 6 months.
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Old 03-25-2014, 08:37 PM   #4
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Quote:
Originally Posted by Sue J View Post
I called PenFed and asked to change back to the Cash Rewards card. It took about a week but we have our new cards. I had hoped to keep the old number but that didn't happen.

We do most of our spending with cash and only use the card for gas so I may as well have the 5% cash credit for gas instead of that awful point system.
Are you still getting the 5% cash credit for gas purchases? I thought it changed to 3% unless you kept the card in force and had other PenFed products, like a CD or money market account.

Never mind. I see they created a "Plus" category allowing new Platinum Cash Rewards Card members to get the 5%.
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Old 03-25-2014, 08:41 PM   #5
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Yes, I'll be getting the 5% for gas. I have a couple of CDs and a Roth IRA (5% CDs) there.
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