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Valued Contributor
Posts: 2,228
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

Valued Member
Posts: 73
Registered: ‎02-14-2016
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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.


40 INQ - 720+ on all - 10 Months aaoa, No derog, No Lates



USAA, NFCU, PenFed, Disco, BofA, Citi, Cap1, Amex, USbank, PP
Regular Contributor
Posts: 212
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?

QS 7K | Disc11.5k | Amex Evday 6.9K | AmexBluCsh 7.7K| NFCUcshrewrds15.5K | Penfed cshrewrds 5K | Consumers Cu Visa signature Cash rebate 6.5K | Blispay 2K| Citi Sim 7K | Citi Double cash 5.6k|
Chase Aarp 4.2K| Chase prime vis sig 3.5K | Walmart MC 10K |Ebay MC 5K| Amz Store CC 5K | Care credit 5.5K |Marvel MC 4K |Good yearCC 2.4k - Over 100k CL all together

FICO SCORES- TU 740, EQ 710, EX729 , AAOA 1 year. Inquiries TONS.
Valued Contributor
Posts: 1,283
Registered: ‎03-01-2016
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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 (5,000) ~ PenFed Power Cash (5,000) ~ PenFed Promise (6,000) ~ PenFed OLOC (500) ~ Discover ($1,000) ~ Citi DC (1,700) ~ NFCU cashRewards (6,200) ~ NFCU Platinum (1,700) ~ NFCU CLOC (15,000) ~ QuickSilver Visa (10,300) ~ DCU Visa (5,000) ~ Chase Freedom Unlimited (3,000) ~ Amex Hilton Honors (5,000) ~ Amex SPG Business (3,000) ~ Care Credit (12,000)
Current Scores (7/8/17): 673 Transunion, 616 Equifax, 651 Experian
Senior Contributor
Posts: 8,313
Registered: ‎04-23-2016
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Re: PenFed Power Cash Rewards

Comgrats on an easy daySmiley Happy
Established Contributor
Posts: 527
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.

8/14/2017 FICO TU-812|EX - 808|EQ -806
Total Credit - $201.4K

Starting Score: 640
Current Score: 805
Goal Score: 850


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Established Contributor
Posts: 836
Registered: ‎02-14-2015
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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 821 Ex 820 TU 841, 153K Available CL, 2% Util

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