More free credit card money. $500

[Fedup]

I might play the business credit card games when I use all of my points. My daughter has business, I had a business, I can technically use the EIN from either.


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[calmloki]

Just paid a single insurance bill that covered the required spend on her Spark card. Soon as we are credited with the points I'll have CapOne send us a check for the points made out to PenFed for a mortgage reduction payment. One of the ways to get full penny/point value for the points.

 

[Fedup]

I just got something in the mail for Costco Visa. It charges 3% for foreign transaction. So I won't be using this card in Europe.


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[ivinsfan]

I just closed my fee Marriott Chase card, it comes with a free nights stay, but we have switched to the Hilton brands and have a fee-free Citi Hilton card. I closed the card 8 days ahead of the due date, but the service rep told me it will take one to two statement cycles for the fee to be credited to my account. The yearly fee was the ONLY amount due. She told me to just send them the money and in a few statements they will return it to me. The card came with a nice amount of bonus points when I opened it.

Is this even legal? If you make a charge the hold appears instantly and it's posted within 24 hours. I haven't decided if I will pay it. She first said they would charge interest and when I asked about late fees, she said "it's possible"...it seems so shady, I asked for a higher up and some how my called got dropped...

 

[mystang52]

I just closed my fee Marriott Chase card, it comes with a free nights stay, but we have switched to the Hilton brands and have a fee-free Citi Hilton card. I closed the card 8 days ahead of the due date, but the service rep told me it will take one to two statement cycles for the fee to be credited to my account. The yearly fee was the ONLY amount due. She told me to just send them the money and in a few statements they will return it to me. The card came with a nice amount of bonus points when I opened it.

Is this even legal? If you make a charge the hold appears instantly and it's posted within 24 hours. I haven't decided if I will pay it. She first said they would charge interest and when I asked about late fees, she said "it's possible"...it seems so shady, I asked for a higher up and some how my called got dropped...

I've cancelled other fee cards, in the past, close to the due date. Rep never said I needed to pay; and the credit posted within a couple of days. I highly doubt you will have a problem if you don't pay. To play safe I recommend you just call back and speak with a different rep. Only potential danger is that the credit doesn't post in time, and you get hit with a fee for non-payment; it'll be reversed but hopefully the non-payment doesn't end up on a credit report. If you choose to pay you'll definitely get your money back; if you go this route I'd dispute the charge and in the dispute advise you are paying without prejudice to the dispute.

 

[marc515]

BTW - PenFed VISA at 5% on gas, .

PenFed VISA is really not 5% on gas; it's "5 points" on gas, which equates to less than 5% when you cash in.
m

 

[braumeister]

PenFed VISA is really not 5% on gas; it's "5 points" on gas, which equates to less than 5% when you cash in.
m

True for some cards, but there really is one that is 5% on gas -- PenFed Cash Rewards Visa Platinum. I've enjoyed it for many years.

 

[marc515]

True for some cards, but there really is one that is 5% on gas -- PenFed Cash Rewards Visa Platinum. I've enjoyed it for many years.

I also have it, and it's not "5%", it's "5 Points".

It use to be a true 5%, whereas you would exchange 50,000 points for a $500 VISA Debit card, but you now must use 58,820 points for the same $500 card, making it less than 5%.

m

 

[REWahoo]

I also have it, and it's not "5%", it's "5 Points".

It use to be a true 5%, whereas you would exchange 50,000 points for a $500 VISA Debit card, but you now must use 58,820 points for the same $500 card, making it less than 5%.

m

I think you are confusing the PenFed Cash Rewards Visa with another card. Like brau, I've had the card for years and it provides a 5% statement credit every month on pay-at-the-pump gas purchases. Not points, $.

 

[mn54]

I think you are confusing the PenFed Cash Rewards Visa with another card. Like brau, I've had the card for years and it provides a 5% statement credit every month on pay-at-the-pump gas purchases. Not points, $.

+1 there is no debit card being issued. You get a credit on your bill. Actual 5%.

 

[marc515]

I think you are confusing the PenFed Cash Rewards Visa with another card. Like brau, I've had the card for years and it provides a 5% statement credit every month on pay-at-the-pump gas purchases. Not points, $.

Hey guys, I stand corrected!!

We had the cash back card years ago, but switched to the Platinum Rewards, as It also gives points for 3 points groceries.

That said, I may just go back to the Cash Back card as it is much easier than waiting to have enough points to convert.

Thanks again guys,
m

 

[braumeister]

In all fairness, marc515, you were probably busy at the time and didn't pay much attention to it. PenFed was pretty aggressive a few years ago trying to get people to make that switch, and you walked right into it. A lot of people did.

 

[marc515]

Hey guys, I stand corrected!!

We had the cash back card years ago, but switched to the Platinum Rewards, as It also gives points for 3 points groceries.

That said, I may just go back to the Cash Back card as it is much easier than waiting to have enough points to convert.

Thanks again guys,
m

I just read up on the PFCU cash rewards card, and the first year is free, then $25 annually
m

 

[braumeister]

I think you're still confused. There is no annual fee. Look at the Plus card.

PENFED PLATINUM CASH REWARDS VISA® CARD

 

[marc515]

I think you're still confused. There is no annual fee. Look at the Plus card.

PENFED PLATINUM CASH REWARDS VISA® CARD

Yes I am; just one of those days

The 3% card has an annual fee, the 5% has no annual fee.

Thank you!
m

 

[mn54]

Hey guys, I stand corrected!!

We had the cash back card years ago, but switched to the Platinum Rewards, as It also gives points for 3 points groceries.

That said, I may just go back to the Cash Back card as it is much easier than waiting to have enough points to convert.

Thanks again guys,
m

the cash rewards also gives 3% on groceries.

 

[audreyh1]

PenFed VISA is really not 5% on gas; it's "5 points" on gas, which equates to less than 5% when you cash in.
m

No, not on my card. It really is 5% cash back as credit on each statement.

I have the PenFed Cash Rewards card. No points. I avoided the cards with points since they didn't translate to $0.01 in cash.

the cash rewards also gives 3% on groceries.

Mine doesn't.

The only PenFed card giving rewards on groceries (Platinum) gives them as points, and they don't translate to 3% cash back. It costs 2,940 points to get a $25 gift card, and then you have to receive the gift card to spend it. I don't want to hassle with that. 3x points becomes 2.55% cash reward on groceries and you have to go through the hassle of receiving a gift card.

 

[REWahoo]

Here is a summary all PenFed rewards cards - straight from the source:

https://www.penfed.org/rewards-cards/

 

[audreyh1]

OK - they got us again!

We couldn't resist the 75,000 miles offer DH got from United Mileage cards by Chase. That will boost DHs miles significantly. We'll have to rearrange things a bit to meet the $3000 spend in time. Fortunately it's a no foreign transaction fee card so quite a few of our travel expenses can go on it.

 

[audreyh1]

Wow - I thought it would take us the full 3 months to meet that $3000 spend requirement - NOT!!!

 

[audreyh1]

Here is a summary all PenFed rewards cards - straight from the source:

https://www.penfed.org/rewards-cards/

For anyone wondering if the PenFed 5% back on gas Cash Rewards VISA gives the reward at Costco fuel - well, yes it does! We did a little top off the tank test last month and I just got my statement.

The language on the card docs never indicated that warehouse clubs were not included, but some folks thought otherwise.

 

[Sunset]

Wow - I thought it would take us the full 3 months to meet that $3000 spend requirement - NOT!!!

That's about $1,000 / wk.

 

[audreyh1]

That's about $1,000 / wk.

Airline tickets, train tickets, tour deposits, glasses and contacts, a few purchases on Amazon. It all added up!

We had a couple of months worth of large purchases just waiting for this card to show up. It took two weeks for them to get it to us, so I was sweating it out on a couple of payment deadlines and whether I would have to use another card.

(Which actually means that spend occurred in about a week.)

I hope we don't get enticed by another credit card incentive though. Enough! What a pain!

 

[calmloki]

So any of you retired people have a business? We have rentals.... If you do have a business Chase thinks you need a Performance Business Checking account. If you park $500 there for 60 days they will give you $500 more in 10 business days. You should leave the account open 6 months before closing to avoid them snatching the $500 bonus back. Some claim you can just downgrade the account to a lower monthly fee account ($12 vs $20), but no guarantees from me on that. My paperwork claims the monthly fee is waived the first 3 statements.

Honey and I file separately, so we each signed up and have each other as authorized signers - no beneficiaries on business accounts we were told.

Soft pull, IRS will take a cut.
Link here - it requires you to login to your Chase account

NOTE: each coupon has a unique code and it needs to be printed out to hand carry into the branch. Takes about 1/2 an hour.

 

[calmloki]

Heads up: 100,000 point Chase Ink Business Preferred. Bit of a struggle to get as it currently has to be submitted by a Chase Business Relationship manager, and they often are servicing multiple branches. In branch or online the offer is for 80,000; but through the Business Relationship Manager the offer is 100,000 points after $5000 spend in three months time.

There is a pretty good rumor that in branch is also going to go to 100,000 points early next month. $95 annual fee, but those 100,000 points can be exchanged for $1,000 plunked into your checking account, so...