PenFed Credit Card

Don,
Did you get it in the mail??? I haven't received notification yet. Could not find the $25 annual fee on line, but found the rest of it, but it sounds like the 5% is over in Sep or in Dec '13 depending. Not really surprised it is over - has been a good run. Hopefully I might be okay, cause I took advantage of their car buying service and a super low .49% car loan rate. Had thought about their IRA, but their rates are way to low.

I received the email tonight with the changes and thought to myself "I knew it was too good to last!"

I am considering opening a checking account and depositing my smaller pension check into it and paying a few reoccurring bills out of there. That would continue to qualify us for the bigger discount and no annual fee. It is a slight inconvenience but might be worth it.

Thinking about opening a small checking account too.

If you’re looking for a credit card with great rewards and no annual fee, check out the Good Sam Visa Signature card with Rec Rewards. You earn points with every purchase plus additional points for purchases at campgrounds, Good Sam and Camping World. You can view all of the benefits at www.goodsamcreditcard.com.

their auto loan could not be beat...that should keep it going for me...but all in all they are one of the best banks/credit unions I have ever dealt with...and if you call them, you get the USA for any question..that's enough for me.

This has been a good credit agency to work with and they are very polite and helpful with all concerns. I have regrettably closed both my credit card and my savings with them due to these changes. Seemed a little too strong arm to me. Whenever I pay for a service that already makes money off me through interest payments, than it is time to move on.

I got my letter in the mail today. Sent an email within a few minutes to cancel my card.

I'm not jumping ship yet. Still have not got the official notice yet. And they are about as good as anything else out there.

I usually put 15,000 to 20,000 miles per year on our coach, which means I spend close to $9000/year for fuel. The new changes from 5% to 3% discount will mean that my discount will be $180 less.
For the average RV user that puts 5000 miles or less on their coach, the difference will be about $45, which is not that much. Sure the discount is nice at 5%, but besides that discount you have the outstanding service that you get from PenFed. Have a problem or question and you get to talk to an actual person, in the USA. Need a loan, and their rates are tough to beat.
For a few bucks less in the yearly discount at 3%, I will NOT be dropping Penfed. They still have many advantages that will keep me as a customer.

Awhile back I switched our SUV loan from a bank to PenFed, got 2.49%. Excellent loan rate for a used vehicle.

I had thought about getting that credit card but hadn't gotten around to it yet. It sounds like I may still qualify for 5% and no annual fee, but I will certainly check the terms. Thanks for the tip, OP.