Using my PenFed Points?
I got a bunch of them in there to the tune of $900 plus bucks worth. We are gonna start using it via the visa option. how does that card work. Can you just about use it anywhere and if so, how do...
Forum Discussion
pnichols wrote:
There is one little downside to the PenFed prepaid debit card that I'm certain is intentionally built into use of that card on purpose: You can't use it for gas purhases right at the pump such that you get points from your use of it. In other words either PenFed, or the banking system (don't know which), won't allow you to get points through use of a prepaid card that you got as a reward for previous points.
A minor issue, but interesting on how they have every little base covered to their benefit.
I think it is to prevent double dipping. Every dollar you spent on gas using the refund (gift card) would actually be $1.05 out of their pocket.
However, Math really does come out nice when you use a loyalty card (grocery store, Kroger, safeway, etc..)to get their discount and get points from Penfed at same time.
What if they would pay the same "point" structure for money on deposit?
If every customer paid off their bill at the end of month. They would pay out more in "points" than they bring in. I think they are gambling on people carrying a balance. Crazy system.
In other news, the Fed loaning money to financial institutions at 0.75% but Fed Gov is charging 3.86% on student loans (lowest starting rate).
I guess it is a matter of priorities for the country.
