Credit Cards

[Open123]

Congrats!

This is a card I'd like to get in the future.  No annual fee, 5% on gas, 3% supermarkets, 1% on everything else with NO forex fee and $250 sign-up bonus.  Currently, is there a better cashback card out there?

[imhotepng]

This is the Platinum Rewards not Cash. I already have enough cash back cards hence my only looking for a points card for now. The points allocation is just as you described and am looking forward to the 5000 points for the first purchase and 20000 points after $1000 in three months. I am going to love this card!

[Open123]

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imhotepng wrote:
This is the Platinum Rewards not Cash. I already have enough cash back cards hence my only looking for a points card for now. The points allocation is just as you described and am looking forward to the 5000 points for the first purchase and 20000 points after $1000 in three months. I am going to love this card!

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It's the blue one, right?

This card is definitely on my list, especially it solves the no fee + no forex fee card issue.

[jefftca925]

Congrats OP!!  What kind of limit did they give you?  I'm new to the CU world and a few days ago opened a checking/savings account with Patelco (my brother has been with them for quite a while) and decided to refi my auto loan with them and got a CC card.  The rates are the best around (Auto 2.0%/VISA 8.15%).  The whole process was sooooo easy!  And the personal service you get from them is awesome!

Soooo... this morning after reading some threads about Penfed I decided to open a share account with them.  Did the online app, got approved, and called CS to find out about the rest of the process, setting up external account access (for transfering $$), and about the credit pull.  They do pull a report (I think EQ) and it is good for 60 days.  The CSR was really nice (considering having to work on a SUNDAY!!) and told me if I wanted to apply for a CC/loan I could do it now.  The Platinum Rewards VISA seemed like a great card ($250 back after $1000 in purchases in the first 3 months, no FTF, 5% CB on gas!!) so I went for it...BAM!!  $13k limit!!  Gotta love it!  I'm cancelling a few cards this year (AFs coming due or just not using) so this will be a good replacement.

Thanks guys for all of the great advice you give here!

[imhotepng]

Yes it's the blue one.

[Open123]

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imhotepng wrote:
Yes it's the blue one.

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Are you required to have a deposit account?  Or, can anyone just make a donation to join, then get the card?

I'm not familiar with their rewards system.  How does it look so far?

Thanks!  

[imhotepng]

Congrats to you too! I am still slack jawed with the limit I got which was $19k. I am seriously considering transferring my auto loan to them. That's a nice portfolio of cards in your signature!

[imhotepng]

You will have to open a share (savings) account with a minimum of five dollars. My rudimentary calculation indicates 100 points equals a dollar so @ 5 points per dollar on gas, you get 350 points which is $3.50 when redeemed. This is the same amount you get with the cash back card. CAVEAT: My initial ratio is based off their card benefits rate which says the 20000 bonus points equals $200 worth of rewards. This should be confirmed with PenFed CSR before usage.....

[jefftca925]

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imhotepng wrote:
Congrats to you too! I am still slack jawed with the limit I got which was $19k. I am seriously considering transferring my auto loan to them. That's a nice portfolio of cards in your signature!

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Thanks OP!  If your loan rate is higher than what they can offer you I'd do it.  I kept my term to what I still had left to pay and my payments dropped a little.  The process was really easy... compared to getting a freaking mortgage!!

[Guava]

Sorry, sneaking a question in, do you have to be a member to be able to apply for their credit card?