az99 wrote:
jcthorne wrote:
Looking at replacing all our gas cards with a PenFed card. Think I will give the card a try....
As of 8/16/13 Pen Fed changed without notice to their customers of the Platinum Rewards card. You still get 5 points per dollar spent but now to redeem the points you need 11,800 points to get $100 back. They increased the points needed by 18%. That nets to about 4.1% actual cash back. Very deceptive since they know most people relate points to $.
Not necessarily the wrong PenFed Card (Plantinum Rewards) but if you get the "cash reward" card, you avoid the points and get cash at the end of each month. (they take it off your monthly statement) And you still get the 5%. They just started requiring that you also open a money market savings account but you only have to put $25 in the savings account and you get the cash rewards visa card. We only use the card for fuel and it is an easy way to account for all fuel used during the year.