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How easy to add PenFed Platinum Rewards card??

Regular Contributor

How easy to add PenFed Platinum Rewards card??

I recently applied for and was approved for PenFed's Visa Platinum Cash card but would like a card to spend for groceries. Thus, I applied for the PenFed Platinum Rewards card but was turned down. Anyone here have both cards? How easy was it to apply for?

 

Any disadvantages in redeeming the 5% reward for gas if you make the switch? The only disadvantage I can see is that it's not an automatic cash back to your statement and that they may deflate the value of the reward points...

Jun 2012 FICO® ~ 734 EQ
Sep 2012 FICO® ~ 684 EQ; 734 TU
Oct 2012 FICO® ~ TBA

Goal for 2014 ~760+

Trying to stay in the garden...but also trying to get as many apps as possible for now Smiley Wink
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2 REPLIES
Valued Contributor

Re: How easy to add PenFed Platinum Rewards card??

I do not have the card but can assure you that it is a difficult card to acquire.  PenFed will often turn down applicants that have any credit inquiries on their reports.

EX:694 TU:744 EQ:777
Amex ED $19.5k - BoA Travel Rewards $15k - CSP $5k - SDFCU EMV $15k - NFCU goRewards $20k - Barclays Arrival $6.5k
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Contributor

Re: How easy to add PenFed Platinum Rewards card??


SportBike4Life wrote:

I recently applied for and was approved for PenFed's Visa Platinum Cash card but would like a card to spend for groceries. Thus, I applied for the PenFed Platinum Rewards card but was turned down. Anyone here have both cards? How easy was it to apply for?

 

Any disadvantages in redeeming the 5% reward for gas if you make the switch? The only disadvantage I can see is that it's not an automatic cash back to your statement and that they may deflate the value of the reward points...


I'm assuming that the reason could be based on the length of relationship you do or don't have. It could also be based on other factors such as your income. Any other details that you could share that could insignt to why that may have happened?

Current: EQ 791 / TU 788 / EX 752 FICO's (MyFico, Oct 2012)

*** NFCU Plat | USAA CR Amex | PenFed TR Amex | BOA Gold | JP Morgan Select | Amex BCP | Amex PRG | USAA Plat ***
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