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Re: Pentagon Federal C.U. CD problem - Credit Card
Old 01-14-2005, 01:23 PM   #21
 
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Re: Pentagon Federal C.U. CD problem - Credit Card

Hi Nords. That's a good way to put it.

JG
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Re: Pentagon Federal C.U. CD problem - Credit Card
Old 01-26-2005, 10:43 AM   #22
 
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Re: Pentagon Federal C.U. CD problem - Credit Card

Quote:
Hey, if anyone has success buying Pen Fed CDs with a card from another bank, please let us know (and tell us which bank/CC Co treated you right).
I just purchased a lot of Penfeld CDs, two of them on my First USA Bank United Airlines Visa Card.

The credit card purchase option clearly states that the charge is treated as a purchase, not a cash advance:

"Option 2 -- Fund with my credit card I wish to fund my 5 YR Money Market Certificate account by credit card (this charge will be treated as a purchase, not as a cash advance)."

I checked my credit balance online and it appears as the charges are treated as purchases. I called the bank to confirm.

Note that you can only charge $10,000 per day, and TODAY IS THE LAST DAY FOR THEIR CURRENT (HIGH) RATES.

$10,000 per day is also the limit for electronic bank transfers.
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Re: Pentagon Federal C.U. CD problem - Credit Card
Old 01-26-2005, 03:31 PM   #23
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Re: Pentagon Federal C.U. CD problem - Credit Card

My US Bank VISA treated the purchase of a CD from Pen Fed CU as a cash advance (or they were going to, but I stopped the purchase). So my experience was similar to Cut-throat's. It doesn't matter what it says on the Pen Fed CD application, it all depends which bank you got your VISA card through, and US Bank treats any transaction with another financial institution as a cash advance (or so they told my wife on the phone). However, I've now applied for and received a new VISA from Pen Fed (VISA Platinum cash rewards), and purchased a CD using that the other day. They assured me that it would be treated as a purchase, and I would get the 1.25% cash back on the purchase. We'll see, I guess, when I get my first VISA statement from them.

RAE
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Re: Pentagon Federal C.U. CD problem - Credit Card
Old 01-28-2005, 08:13 PM   #24
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Re: Pentagon Federal C.U. CD problem - Credit Card

FWIW, my statement period just closed for the Chase card I used on my latest PenFed CD purchase. No problem. It was treated as a regular purchase, and I received the usual kick-back.
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Re: Pentagon Federal C.U. CD problem - Credit Card
Old 01-29-2005, 05:24 AM   #25
 
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Re: Pentagon Federal C.U. CD problem - Credit Card

I am still getting inundated with offers for -0- interest
deals on credit cards, and the length of time the
-0- % is in effect seems to be extending. If this continues maybe I can just finance my way to the pearly gates strictly on OPM at -0- APY. Sweet!

JG
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