REWahoo
Give me a museum and I'll fill it. (Picasso) Give
For an existing card holder who has one of their other "qualifying account services", the 5% cash back on fuel purchased at the pump will continue.
penfed visa cash rewards card
- Thread starter mn54
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Thanks!
RunningBum
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
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Man, I had a cash back card, and they switched me to the rewards card, and now they've devalued the rewards a bit, so I suppose I can't go back to the cash card and get 5%. I gotta sit down and look at all this but I'm on vacation this week so it's not something I want to deal with right now.
Alas, they were a bit misleading in their promotions for the newer point rewards card. I simply ignored them, because I was happy with the cash rewards card, but I think they got a lot of members to switch.
The feature of getting your rewards in cash in the same month you do the card spending is pretty great. I keep the card for that, although these days I use it almost exclusively for gas purchases.
The feature of getting your rewards in cash in the same month you do the card spending is pretty great. I keep the card for that, although these days I use it almost exclusively for gas purchases.
KM
Recycles dryer sheets
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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 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).....
REWahoo
Give me a museum and I'll fill it. (Picasso) Give
I'm planning on doing the same and had the same thought process - I'm not making anything on that money today, so nothing lost.
Then I realized based on my fuel (gas and diesel) expenses the $1,000 in a MM certificate at Penfed will result in ~$300 per year in cash back savings. Even though numbers is hard for me, even I can see that works out to a 30% return on my investment.
Maybe I should put in more than $1,000...
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If I'm fully paperless where do I look to find the notification that they will start charging a fee if I don't have a linked account? Where do they show the rewards is being reduced from 5% to 3%?
When I look here:
https://online9.penfed.org/PenFedOnline/Forms/ProductsAndRates/Loans.aspx
I see that it still lists no annual fee and cash back of 5% on gas.
This is my goto card for gas. used to be my go to card for all purchases until the eliminated the grocery category and dropped everything else from 1% to 0.25%. Now the Amex fidelity 2% card is my everyday goto card.
When I look here:
https://online9.penfed.org/PenFedOnline/Forms/ProductsAndRates/Loans.aspx
I see that it still lists no annual fee and cash back of 5% on gas.
This is my goto card for gas. used to be my go to card for all purchases until the eliminated the grocery category and dropped everything else from 1% to 0.25%. Now the Amex fidelity 2% card is my everyday goto card.
The notice of the annual fee unless using a linked service was sent to me via email and also by snail mail (USPS).
Their site shows reductions in the rewards and effective dates:
https://www.penfed.org/Platinum-Cash-Rewards/
https://www.penfed.org/visasignaturepoints/
omni
1. Have any of the other CC's "devalued" their rewards points? Since the CC is a VISA, I would think if one has done it, others have/will follow.
2. The PENFED rewards card still isn't too bad with 5/Gas, and 3/Supermarkets; the 1/Other isn't too great.
2. The PENFED rewards card still isn't too bad with 5/Gas, and 3/Supermarkets; the 1/Other isn't too great.
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brewer12345
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I think all of this says I will be using a different card than my points pen fed card after the end of the year.
gauss
Thinks s/he gets paid by the post
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Hawkeye,
Have you used the Sallie Mae card first hand? The reason that I ask is that I am curious about their online system. The current Penfed system does not show charges/authorizations in real time, but rather shows them the day after they post.
Chase Saphire, on the other hand, will immediately show card activity as pending charges are created. This is very useful for Internet purchases to confirm that your order went through when there is a question and something is time critical (ie trying to order World Series tickets on a stressed website).
Thanks for any information that you can provide.
Thanks
-gauss
HawkeyeNFO
Thinks s/he gets paid by the post
Yes, been using it for several months. Pending charges show up online, and once they are actually posted, your points/rebates show up as well, no waiting for the statement. I like it, as we never spend more than about $175 or so monthly on gas. We usually go over the $250 cap on groceries though, but the two categories are separate. Getting 5% back on bookstore purchases is good too (iow, all Amazon purchases). However, ..............
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HawkeyeNFO
Thinks s/he gets paid by the post
With all the sign up bonuses available these days, I don't worry about getting 5% back on stuff. It's much more profitable to hit minimum spending on a card to get 50,000 airline miles, then move on to another card.
REWahoo
Give me a museum and I'll fill it. (Picasso) Give
And then there are those of us who could care less about airline miles...
Sarah in SC
Moderator Emeritus
Chase sapphire and a few others offer hotel stays and the like. Maybe you will want to get out of the RV some night when on the road.
Also I used sapphire points for a car rental. And have used airline miles for friends and family to fly to see us.
That Sallie Mae card looks like it could be a good complement to the PENFED card, although after the 5% rewards up to a max of $250 for gas and $250 for groceries it's only 1%; but at least you get a true 1% rewards.
However, a better complement to PENFED might be the Quicksilver Cash Rewards Credit Card which offers a flat 1.5% on all purchases, which is better than PENFED's diluted 1%.
Looks like we will have to use multiple cards to maximize rewards overall. For example, we use PENFED for gas and groceries, and then Quicksilver for all other purchases, as we put everything we can on a CC to include cable, electric, insurance, etc., just to get the points which can really add up.
However, a better complement to PENFED might be the Quicksilver Cash Rewards Credit Card which offers a flat 1.5% on all purchases, which is better than PENFED's diluted 1%.
Looks like we will have to use multiple cards to maximize rewards overall. For example, we use PENFED for gas and groceries, and then Quicksilver for all other purchases, as we put everything we can on a CC to include cable, electric, insurance, etc., just to get the points which can really add up.
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wrigley
Full time employment: Posting here.
I believe Sallie Mae only offers the 5% cash back on gas for the first $250.00 of gas charged in a billing cycle.
Mike
Yes it does, and I revised my post to be more clear.
wrigley
Full time employment: Posting here.
My monthly gasoline bill is anywhere between $500 and $700. The 5% cash back works well for me. Even with paying Pen Fed the $25 annual fee (which I hate!), and only receiving the 3% cash back, I still make out in the long run! Still always searching for a better card.
Mike
My monthly gasoline bill is anywhere between $500 and $700. The 5% cash back works well for me. Even with paying Pen Fed the $25 annual fee (which I hate!), and only receiving the 3% cash back, I still make out in the long run! Still always searching for a better card.
Mike
Oh yeah, with that kind of fuel usage, PENFED is great
Sarah in SC
Moderator Emeritus
Our fuel costs are going to drop precipitously from now til May, when we drive back cross country with the bus, so I'll probably stick to my spends on our new SPG rewards card and the trusty Sapphire. But come April, I'll be nosing around for a better deal on the fuel. That old bus gets about 9 to the gallon so the trip from Alaska to SC will be significant!
Amethyst
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Me, I've simply been amazed to get cash-back points, sign-up rewards, etc. So it wouldn't surprise me to see the banks cutting back what they spend on these kinds of rewards. Banks are about profits.
Amethyst
Amethyst
calmloki
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
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
calmloki
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Chase points I've turned into cash. Chase sends a check rewarding to the penny on their points - if not directly from the Sapphire, then just by transferring the points to a Chase Freedom card.
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