PenFed "free" 5% Fuel Cash Back Ending
Per their website this ends with the October billing. So I called and it's actually changing. %5 if you have another qualifying account, or 3% and $25 annual charge. If you have a PenFed card you mig...
Forum Discussion
ktmrfs wrote:az99 wrote:
I posted about this a few weeks ago but a moderator moved it to some area no one reads. This IS a general RV issue as many of us use this card.
Are any of you aware that as of 8/16/13 Pen Fed has changed (without notice) their point redemption amounts. Now to get a $50 Visa reward card you are charged 5,900 points.That is an immediate loss of 18% of your points.
I just finished talking to a CS supervisor and voiced my extreme dissatisfaction at the new unannounced changes. She said they got no advance notice either. They will not even give you the points you earned prior to the change without the 18% loss.
So now you really get 4.1% on fuel and 2.1% on groceries and darn near nothing on other purchases.
This is just out and out deception of their customers. If they need to change the program, tell us 4% gas 2% groceries. Don't take an additional 18% for redemption and make it sound like your getting more points. Then add their new $1.00 charge for not doing your statement online.
I used to praise this company but this is JUST PLAIN WRONG!!!!
depends on which pen fed card you have. the gas card with pen fed STILL will give you a direct credit to your account each month of either 3% or 5% depending on which "plan" your now on prior to sending out your statement. No "discounting". And with my card I was given a notice of the change about 6 weeks ago and the changes don't take effect till near the end of October. IMHO plenty of advanced notice.
Not that I like the changes, but Pen Fed isn't the only or first company to start "dialing back" their rewards program. several of my other cards have done so this year as well. Some rather significantly.
I have the pen fed visa that gives me 5% cash back in a direct credit to my account each month. I received both an email and a letter explaining the change and the particulars. the 5% is a great deal in my mind as noted I can use any gas station and get the cash back so when I use Pilot I get a 3 cent reduction at the pump and 5% cash back from pen fed...good deal for me. so I opened a money market for $1000 and am good to go on retaining the 5% cash back. I am also a usaa member but they do not offer anything so attractive and their cash back comes at the end of the calendar year. IMHO the penfed deal is actually the best around.
