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PenFed Power Cash Rewards

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Anonymous
Not applicable

Re: PenFed Power Cash Rewards


@GetMeSlick wrote:

@Anonymous wrote:
Congratulations, I'be been eyeing this one to maybe replace my DC. The EQ score you posted, was that their nextgen score or a fico8?

how is this better than DC?


 

*edited for formatting*

 

1. DC redemptions are much slower and higher minimum required

2. DC is a Mastercard, so lower acceptance than the PenFed card which is a Visa (I'm thinking specifically of Costco here)

3. DC has Citi's standard 3% foreign transaction fee, while all PenFed cards have none - so the PenFed card is great for international travel

Message 11 of 17
Anonymous
Not applicable

Re: PenFed Power Cash Rewards

Got a welcome message that had my EQ Next Gen score of 705. Apparently their scoring goes to 950. So not that great. Keypoints were: no installment loans and many inquiries. Still happy to be in and have a nice card to groom. My bucket list cards last year were usaa, nfcu and penfed. So I'm set for now.

Btw: Citi DC has been a good card. But thing I noticed was cash back areas change a lot and lot of stuff doesn't qualify. Ran $1k throught the card with only $15 in cash back. And you need minimum of $25 to redeem or apply to balance.


Message 12 of 17
Anonymous
Not applicable

Re: PenFed Power Cash Rewards

How do they send the welcome message? Was it in the snail mail brochures that they send after being a member and after approval with the card ? I also got approved for a powercash rewards card a month ago and have already paid back balance after the first statement. I dont remember seeing nextgen score anywhere. Where is it? Is it in riskbased pricing notice?

Message 13 of 17
Anonymous
Not applicable

Re: PenFed Power Cash Rewards

Yes; in your messages the one you get with 'the price you pay for credit' It may have your score as EQ, but it is their NextGen equivalent
Message 14 of 17
AverageJoesCredit
Legendary Contributor

Re: PenFed Power Cash Rewards

Comgrats on an easy daySmiley Happy
Message 15 of 17
GetMeSlick
Established Contributor

Re: PenFed Power Cash Rewards


@Anonymous wrote:

@GetMeSlick wrote:

@Anonymous wrote:
Congratulations, I'be been eyeing this one to maybe replace my DC. The EQ score you posted, was that their nextgen score or a fico8?

how is this better than DC?


 

*edited for formatting*

 

1. DC redemptions are much slower and higher minimum required

2. DC is a Mastercard, so lower acceptance than the PenFed card which is a Visa (I'm thinking specifically of Costco here)

3. DC has Citi's standard 3% foreign transaction fee, while all PenFed cards have none - so the PenFed card is great for international travel


This makes a whole lot of sense. thank you.

1/6/2023 FICO TU-840|EX - 838|EQ -840
Total Credit - $470K+
Starting Score: 640
Current Score: 840
Goal Score: 850


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Gardening since Sep/2021
Message 16 of 17
Anonymous
Not applicable

Re: PenFed Power Cash Rewards


@Anonymous wrote:

@GetMeSlick wrote:

@Anonymous wrote:
Congratulations, I'be been eyeing this one to maybe replace my DC. The EQ score you posted, was that their nextgen score or a fico8?

how is this better than DC?


 

*edited for formatting*

 

1. DC redemptions are much slower and higher minimum required

2. DC is a Mastercard, so lower acceptance than the PenFed card which is a Visa (I'm thinking specifically of Costco here)

3. DC has Citi's standard 3% foreign transaction fee, while all PenFed cards have none - so the PenFed card is great for international travel


Edited as I miss read the post.
Message 17 of 17
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