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PenFed Power Cash Rewards

Valued Contributor

Re: PenFed Power Cash Rewards


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

Message 11 of 17
Valued Member

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
Message 12 of 17
Frequent Contributor

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?

QS 7K | Disc11.5k | Amex Evday 6.9K | AmexBluCsh 20K| NFCU cashrewrds15.5K | NFCU more rewards amex 9.7K|Penfed cshrewrds 5K | Penfed travel Amex 5K|Consumers Cu Visa signature Cash rebate 6.5K | Blispay 2K| Citi Sim 8.5K|Citi Double cash 7.1k| Chase Aarp 4.2K | Chase amazon prime vis sig 8K | Paypal 2% Cash back 300$ | US Bank Cash+VisaSig 1k | US bankAmex 500$ | Walmart MC 10K | Wellsfargo cashwise 1.5K |2nd Disc 3.5K| Amz Store CC 5K | Care credit 5.5K |Marvel MC 5.5K |Good yearCC 2.4k - Over 150k CL all together

FICO SCORES- TU 737, EQ 710, EX 729 , AAOA 1 year. Inquiries TONS.
Message 13 of 17
Valued Contributor

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 (8,000) ~ PenFed Power Cash (10,000) ~ PenFed Promise (1,000) ~ PenFed OLOC (500) ~ Discover ($1,100) ~ Citi DC (2,200) ~ NFCU cashRewards (6,200) ~ NFCU Platinum (2,700) ~ NFCU CLOC (15,000) ~ Venture (10,300) ~ DCU Visa (5,000) ~ Chase Freedom (3,000) ~ Amex Hilton Honors (5,000) ~ Amex SPG (1,000) ~ Amex BCE (1,000) ~ Care Credit (15,000)
Current Scores (3/14/18): 690 Transunion, 650 Equifax, 687 Experian
Message 14 of 17
Community Leader
Super Contributor

Re: PenFed Power Cash Rewards

Comgrats on an easy daySmiley Happy
To obtain Credit One Kenobi status upon 0/24 is to Garden Harden!!
Message 15 of 17
Established Contributor

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.

2/21/2018 FICO TU-819|EX - 808|EQ -819
Total Credit - $200K+
Starting Score: 640
Current Score: 805
Goal Score: 850


Take the myFICO Fitness Challenge
Message 16 of 17
Established Contributor

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


Edited as I miss read the post.
FICO 8 Scores Eq 821 Ex 820 TU 841, 180K Available CL, 1% Util


Message 17 of 17