@Anonymous wrote:
Thanks for all the advice everyone! Really appreciate it. I'm heavily leaning towards PenFed Cash Rewards over the Citi DC. Just trying to decide if the extra 0.5% is worth the required $500 cash flow monthly in their checking account. Someone mentioned they heard some people are able to get the extra 0.5% without the $500 in the checking account. Any idea how this is achieved? Just don't add the $500 and see what happens, or call them and ask for an exception?
I've been with Penfed maybe a year. I am a big fan, and every time I turn around, they get better.
You do need to be part of a group they work with to join (as they are a credit union). Originally, I got in because my father had been in the military at one point. If no family member has ever been in the military, ANY donation to the Red Cross (including the donation of blood) will qualify you.
They have been going around lately, buying up other credit unions, which means they are now local to me. They took a great CU and made it even better.
The $500 cash flow means you need at least $500 in deposits to the account (direct deposit of pay is a great way to get there) every month.
