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Penfed CC
Old 05-15-2010, 07:28 PM   #1
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Penfed CC

Several months ago I looked into getting a Penfed credit card (Visa Platinum cashback rewards card) to get the 5% back on gas purchases. Back then, the website said the 5% for gas was ending soon.

Today I looked again and it appears the 5% for gas is still in effect, and I don't see anything about it ending.

Does anyone have personal experience with that program?
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Old 05-15-2010, 07:35 PM   #2
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I've had the PenFed Visa card for three years or so and have seen nothing about any changes to the rebate percentages.
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Old 05-15-2010, 08:11 PM   #3
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It's 5% on gas paid at the pump, 2% on supermarkets and 1% on everything else. The only change is that it used to be 1.25% on everything else.

What I like about this card is that the cash rewards are posted to the card on the statement date and it reduces your balance due. Most other cards accrue rewards and then you have to reach a level ($25 or more) and do something to get them.
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Old 05-15-2010, 11:20 PM   #4
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Ditto ReW & Sue. Not aware of any changes it's my primary card for the last 3 years.
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Old 05-15-2010, 11:38 PM   #5
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Originally Posted by Darryl View Post
Ditto ReW & Sue. Not aware of any changes it's my primary card for the last 3 years.
+

Ditto ReW, Sue and Darryl. The gas rebate is really nice when you take an RV trip. No notice of any plans to terminate the benefit.
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Old 05-15-2010, 11:58 PM   #6
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I got the PenFed cc a few months ago. I use it pretty much for gas only for the 5% cash back and as others have said, the nice thing is it shows up as a credit on your statement, so it is like getting a 5% discount on gas.
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Old 05-16-2010, 04:03 AM   #7
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While applying for a PenFed membership for a credit card the terms that they ask you to agree to included the following:

Quote:
Transaction limitations. During any statement period, I may not make more than six withdrawals or transfers to another account I hold or to a third party by means of a preauthorized or automatic transfer or telephonic order or instruction. If I exceed these limitations future transfer capabilities may be eliminated."
I want to use my CC to pay monthly bills that are recurring, so does this mean that I cannot do that, or does this mean that if I were to somehow set up a push payment for auto-payment that I would be limited to 6 transactions per month. I've never set up anything like that on a CC, it's always been that I gave the CC# to the billing group and they got their money from the CC company. Just not sure what that limitation is all about.
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Old 05-16-2010, 07:21 AM   #8
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Whitestick, I interpret the quote as 6 auto-transactions per month to a single third party account. Why not give them a call to be sure?
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Old 05-16-2010, 07:24 AM   #9
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It's 5% on gas paid at the pump, 2% on supermarkets and 1% on everything else. The only change is that it used to be 1.25% on everything else.
You made me look -- and beginning with my last statement period the rebate was only 1% for "everything else". I do not remember seeing a notice from PenFed about this change so was not aware until I read this thread. Not a big deal but I use this card for essentially all purchases.
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Old 05-16-2010, 07:25 AM   #10
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I do not remember seeing a notice from PenFed about this change so was not aware until I read this thread. Not a big deal but I use this card for essentially all purchases.
Same here.
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Old 05-16-2010, 12:40 PM   #11
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Quote:
Originally Posted by Lakedog View Post
You made me look -- and beginning with my last statement period the rebate was only 1% for "everything else". I do not remember seeing a notice from PenFed about this change so was not aware until I read this thread. Not a big deal but I use this card for essentially all purchases.
I remember reading of the 1.25 to 1% change maybe six months or more ago - think it was in an enclosure from PenFed but may have been on the website.
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Old 05-17-2010, 11:10 AM   #12
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I also received a ride along notice with a monthly statement telling of the reduction from 1.25% to 1% a few months ago.

I've used the card for a couple years now (maybe longer)and have been happy with it.
Not as modern a website and it takes a couple days for charges to show up, but I'll settle for that to get the higher rewards.
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Old 05-18-2010, 11:03 PM   #13
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Many other CC's have limits to the rewards. The PenFed site says there are none to this one.
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Old 05-21-2010, 08:28 AM   #14
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This is an interesting benefit.
https://www.penfed.org/pdf/accountsf...cident_ins.pdf
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