penfed visa cash rewards card

[REWahoo]

REWahoo

Agree, but there are ways.... Here's an Amex, or check my current favorite, the Barclays Arrival - $400 statement credit for a $1000 spend. Barclays $400 credit can be used for travel expenses on the card, which include hotels, taxis (people use those?), air, train (we're scheming on a train trip).

The Business Gold Rewards Card from American Express OPEN

https://rewards.americanexpress.com...nsecureeducationpage?request_type=notloggedin

Thanks, but depositing $1k in a Penfed CD is the route I'm taking to keep the 5% fuel discount - at least for now.

 

[target2019]

I came to the conclusion it was much easier to start a 1K money market cd and not cancel the card just yet. The thought of opening just one more credit card was mildly depressing.

 

[REWahoo]

I came to the conclusion it was much easier to start a 1K money market cd and not cancel the card just yet. The thought of opening just one more credit card was mildly depressing.

+1

 

[calmloki]

When offered $400 back on a $1000 worth of expenditures at a cost of maybe 1/2 hour total of online form filling and a phone call to cancel - I can suffer through the depression. It's not so much the money, but the joy of getting $$ back from the card companies without giving them any more than I was going to spend anyway that gives a happy tingle.

 

[REWahoo]

Update: Penfed has expanded the list of qualifying products which allow members to retain the 5% cash rebate/no annual fee on the Visa Platinum Cash Rewards credit card:

Dear XXXX XXXX,

You recently received a change in terms notification from PenFed informing you about an annual fee, which would be assessed to you as well as a change to your rewards earning structure.

After further evaluation of the qualifying criteria, we have decided to expand the qualifying products to include:
• Thrifty Credit Service
• Personal Line of Credit
• Education Line of Credit
• Money Market Savings Accounts

As a result, your card features are as follows:

Gas Purchases at the Pump 5% cash back
All other purchases 0% cash back
Annual Fee None
Foreign Transaction Fee None

Thank you for your membership and we apologize for any inconvenience.

The minimum to open a Money Market Savings Account is $25. I was planning on putting $1k in a CD but now I can keep the card benefit with only a $25 deposit.

 

[REWahoo]

Follow-up: I opened a Money Market Savings Account online using a credit card to fund the $25. The process took less than 5 minutes, and two of that was waiting for a text message confirm my ID.

 

[NW Landlady]

My purchase profile is more general shopping -- and my latest Credit Card is the Fidelity American Express Card.
If you have a Fidelity Account (mutual funds/stocks/whatever) it deposits 2% cash back on all purchases into your Fido account automatically.


I hope they don't change it!
https://www.fidelity.com/cash-management/american-express-cards

 

[calmloki]

My purchase profile is more general shopping -- and my latest Credit Card is the Fidelity American Express Card.
If you have a Fidelity Account (mutual funds/stocks/whatever) it deposits 2% cash back on all purchases into your Fido account automatically.


I hope they don't change it!
https://www.fidelity.com/cash-management/american-express-cards

Me too - real simple, real money. Of course there is that $15,000 spend at 1.5% before it picks up to 2% - those rental insurance premiums are pretty handy for that...

 

[MRG]

My purchase profile is more general shopping -- and my latest Credit Card is the Fidelity American Express Card.
If you have a Fidelity Account (mutual funds/stocks/whatever) it deposits 2% cash back on all purchases into your Fido account automatically.

I hope they don't change it!
https://www.fidelity.com/cash-management/american-express-cards

We use that same card(different account numbers), had been very happy. It's the only card I ever felt I actually received value from my 'points'.

Now 2 weeks they messed up big(Fia Cardholder Services), started randomly denying charges. When I called their fraud detection was all over recent charges. After review, they were all mine, from places I routinely charged with this card at, grocery store, local gas station.

Fia insisted on canceling the card, saying they would overnight a replacement card. Never received the first 3 replacment cards, got the 4th( now USPS, cause they can't figure out how to overnight) only it's one previously canceled. Still waiting, they did give a $50 credit, without me asking.

Bottom line love the card and the people I dealt with, except Fraud Detection. The FD department screwed up, called normal purchases fraud. I'll never rely on this card again.

MRG

 

[Alan]

I caved and opened a money market certificate with them today for $1K. Same interest I get where it is sitting now, so I guess it doesn't matter. I looked around yesterday and couldn't find anything else that would give me the 5% on gas year-round (which adds up quite a bit for us when traveling) - not to mention I just switched my PenFed card to one with a "chip" (for international travel).....

I recently requested a penfed CHIP card, and selected a PIN but now that it has arrived it looks exactly the same as the old card. My UK CHIP & PIN card has a "visible" chip on the card.

Does your new card look any different as I can't see any difference and no way to check it before we go abroad as far as I know.

 

[Alan]

As to the OP I opened a checking account with them last year as a backup to my regular online bank. $500 minimum and I keep it active by paying an online bill or 2 each month. I was getting paranoid after having CC details stolen a couple of times with the associated hassle, and got to wondering about what a hassle it would be if I needed a new bank account for whatever reason.

 

[KM]

I recently requested a penfed CHIP card, and selected a PIN but now that it has arrived it looks exactly the same as the old card. My UK CHIP & PIN card has a "visible" chip on the card.

Does your new card look any different as I can't see any difference and no way to check it before we go abroad as far as I know.

My new card is now green, says CASH REWARDS up in the left hand side and has what appears to be a gold chip on the left side also. It definitely looked different than my other card.

 

[Alan]

My new card is now green, says CASH REWARDS up in the left hand side and has what appears to be a gold chip on the left side also. It definitely looked different than my other card.

Thanks, I'm now pretty sure they haven't sent me a CHIP & PIN card

 

[braumeister]

If anyone is looking for a chip & pin card, I took a tip from someone here about a year ago and got one here:
GlobeTrek Visa Rewards

It has worked nicely everywhere I've been. No fees, no foreign transaction fees, reward points.

Even if you're not connected to the military or Maryland businesses, the Andrews Federal Credit Union accepts members from anywhere via a $15.00 lifetime membership in the American Consumer Council (link from the AFCU website).

 

[Sarah in SC]

It should have the shiny square thing visible on it, if it is Chip/Pin.