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.

[deleted-2]

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

[CA_Traveler]

jimjr wrote:
I have received no e-mail and can find nothing on the Pen Fed site that talks about an annual fee. I'll call tomorrow to see if the account gets cancelled (by me) or not.

Drill down on the ** and you'll find that it's a limited time offer through October. That prompted me to call and I was told "it's not cancelled, just changing". Please post what you find out.

[jimjr]

I have received no e-mail and can find nothing on the Pen Fed site that talks about an annual fee. I'll call tomorrow to see if the account gets cancelled (by me) or not.

[louiskathy]

We got the same email.. it said that we needed to pay a $25 yearly fee to keep getting the 5% deal on the fuel purchases.

I called them and found out that if you have an employer and start a minimum of $250 direct deposit a month into your Pen-Fed acct, they won't charge a yearly fee and will keep giving you 5% on fuel purchases.

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.