PenFed "free" 5% Fuel Cash Back Ending

[CA_Traveler]

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 might want to call and see what if any changes apply to you.

We really liked getting 5% cash back this summer in the US and Canada so hate to see the changes. Just a heads up.

[legolas]

az99 wrote:

CA Traveler wrote:

Amex identifies the cash back purchases on their billing so you can avoid stations not coded for fuel. PenFed required length calls for them to look up this information. If chain x doesn't provide cash back then I want to avoid them.

The PenFed statement is very frustrating as there is no way to tell if or how much discount you got on any purchase. The amount of points on the statement are not even correct in relation to the items on the statement. You have to call and go over each item line by line. That was how I found out about their new reduced programs when I tried to redeem points.

Yep, that's usually what happens. Am not a fan of card that give points which can supposedly be redeemed later for gifts and goodies....always way to difficult to deal with them and they ALWAYS change their rules that's always the Catch 22 with them.

[az99]

CA Traveler wrote:

Amex identifies the cash back purchases on their billing so you can avoid stations not coded for fuel. PenFed required length calls for them to look up this information. If chain x doesn't provide cash back then I want to avoid them.

The PenFed statement is very frustrating as there is no way to tell if or how much discount you got on any purchase. The amount of points on the statement are not even correct in relation to the items on the statement. You have to call and go over each item line by line. That was how I found out about their new reduced programs when I tried to redeem points.

[az99]

I said in the post the Visa Rewards Card. That was the only card I was referring to as they had many. I called and was told the 5% Cash Back card that some of you refer to is no longer available. If someone knows how to still get it, please post a link.

[legolas]

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.

[ktmrfs]

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.

[LBL_1206]

You can also do a Money Market CD with them for $1000.
6 month pays .3% and 1 year pays .5%
that will move you into a status that eliminates the $25 yearly fee and keeps the 5% on gas purchases.


wife says we're good. the above applies to us...
this time she got my full attention...

[LBL_1206]

USAA has yearly rewards for all purchases but I didn't see any thing different for fuel. Did I miss something?

My apologies...you did not miss anything.
Wife tells me it "IS NOT" our USAA VISA that we get the gas discount but is in fact our Pen Fed Visa card...sorry for the confusion...

she says that I never listen to anything she tell me. at least I think that's what she said...

[LBL_1206]

pnichols wrote:

LBL 1206 wrote:
USAA still gives discount on gas w/their Visa card.

What is the gas discount amount that USAA gives?

My apologies....wife told me that we DO NOT get gas discount w/USAA, It is/was gas discount w/our Pen Fed Visa card...

she says I never pay any attention to what she tells me; at least I think that's what she said...:B

[CA_Traveler]

BTW The fuel pump has to be coded by the station to reflect a fuel purchase. Some reflect merchandise, etc and no cash back. Usually there will be no cash back if you pay inside.

Amex identifies the cash back purchases on their billing so you can avoid stations not coded for fuel. PenFed required length calls for them to look up this information. If chain x doesn't provide cash back then I want to avoid them.

[CA_Traveler]

Anyone know of a Visa 5% cash back on fuel with no Canadian transaction fees?

USAA has yearly rewards for all purchases but I didn't see any thing different for fuel. Did I miss something?

az99, Thanks for the information as I wasn't aware of the additional discount.

We have Amex 4% fuel, no fees, yearly cash back and Amex 5% fuel after $6500 in total purchases, no fees and yearly cash back. Both have Canadian transaction fees. Most US fuel stations take Amex so we'll go back to Amex if nothing better is available.

[az99]

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!!!!

[pnichols]

LBL 1206 wrote:
USAA still gives discount on gas w/their Visa card.

What is the gas discount amount that USAA gives?

[LBL_1206]

USAA still gives discount on gas w/their Visa card.
no annual fees...

[ktmrfs]

Thats_Ok wrote:
PenFed sent us an e-mail sometime back about card use policy changes.

x2. Info came in the mail about 6 weeks ago, plenty of advanced notice.

after reading the info and calling here is my understanding.

If you alredy have a Pen Fed gas card.
depending on what other pen fed accounts you have, you'll either end up with a $25 annual fee on your anniversary date and 3% cash back or no fee and 5% cash back.

If you have only the visa card, you'll pay the $25/year and get 3% on gas beginning end of october.

If you also have qualifying other accounts, you will continue to get 5% and no annual fee

If you have only the visa card AND open a direct deposit checking, CD, money market,loan etc. then you'll continue to get the 5% and no annual fee. I think (not positive) you need to open such an account by the end of October.

If you DON"T have a pen fed card and apply in October.
If you open another account at the same time you get the 5% no fee otherwise you'll get the 3% and pay $25/year

Existing cardholders will get the 5% through most of october.

the gas credit payout process remains the same. they will continue to credit your account prior to sending out your monthly bill.

Seems like card companies are adding restrictions or cutting back on card benefits. One other card I have that gave double points for certain cardholders with other qualifying accounts recently stopped that practice, now I only get the "regular" points.

Even at 3% and 25/year the pen fed gas card is still IMHO one of the best fuel cards around. Diesel qualifies (which some others don't), no monthly or annual limit on fuel purchases, not tied to any specific stations etc.

[CA_Traveler]

BTW We received significant cash back with PenFed this summer with our Alaskan trip. ie With the very high Canadian fuel prices what's not to like about 5% cash back? But life moves on and while we have AmEx alternatives for the US they are worthless in Canada due to their transaction fees.