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Valued Contributor
Posts: 2,056
Registered: ‎02-14-2016

Re: PenFed Power Cash Rewards

[ Edited ]

GetMeSlick wrote:

iblitz25 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

Established Member
Posts: 65
Registered: ‎02-14-2016
0

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.


39 INQ - Upper 600's - 7 Months aaoa

100050015003007001300200030001000100016002600
Contributor
Posts: 139
Registered: ‎01-01-2016
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Re: PenFed Power Cash Rewards

[ Edited ]

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?

Established Contributor
Posts: 571
Registered: ‎03-01-2016
0

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

State Farm Rewards (3,000) ~ Marvel MC (1,500) ~ PenFed Power Cash (5,000) ~ PenFed Promise (6,000) ~ Discover ($1,000) ~ Citi DC (1,700) ~ NFCU Platinum (1,700) ~ NFCU CLOC (3,000)~ QuickSilver Visa (10,300) ~ DCU Visa (5,000) ~ Chase Freedom Unlimited (3,000)~ Amex Hilton Honors (5,000) ~ Care Credit (12,000)
Current Scores (3/6/17): 682 Transunion, 674 Equifax, 675 Experian
gardening since 3/6/17
Senior Contributor
Posts: 4,133
Registered: ‎04-23-2016
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Re: PenFed Power Cash Rewards

Comgrats on an easy daySmiley Happy
Frequent Contributor
Posts: 478
Registered: ‎12-18-2014
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Re: PenFed Power Cash Rewards


wanderingbuilder wrote:

GetMeSlick wrote:

iblitz25 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.


3/22/2017 FICO TU-773|EX - 778|EQ -763
Goal for 2017 - 760 across all. Total Credit - $189.8K. AU - $14.5k. Gardening since 02/29/2016.
$$Waiting for $200k Milestone $$ Smiley Happy
Established Contributor
Posts: 775
Registered: ‎02-14-2015
0

Re: PenFed Power Cash Rewards

[ Edited ]

wanderingbuilder wrote:

GetMeSlick wrote:

iblitz25 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.
FICO 8 Scores Eq 810 Ex 808 TU 821, 137K Available CL, 2% Util

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