08-16-2013 05:38 PM
08-16-2013 05:47 PM
I guess any card that has unusually good rewards is going to get nerfed sooner or later. Currently this is still 4.1% or so (depending on redemption) on gas, which is still better than most, but any downgrade gives a very negative impression. I'll just use my TYP for now, and see what happens to the Penfed Cash Rewards card.
08-16-2013 11:53 PM
Hopefully, something new will come out with the best rewards for the best credit. I am glad that I saw this thread yesterday though, because it saves me a hard inq and probable denial for one of the most prudent lenders... only for the chance to get a card that has been consistently downgraded.
I wonder if PenFed will change their underwriting criteria since their card has lost much of its appeal and is no longer outrageously awesome.
08-17-2013 06:15 AM
08-17-2013 07:42 AM
Does penfed let you pc to the cash rewards card?
I plan to wait for a bit before trying. If 5% off gas is unsustainable on one card, I would expect some change in Cash Rewards at some point.
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