PenFed Cards which one?

[john398]

I was approved for an auto loan so in the next 60 days I could also apply for a cc with the same report HOWEVER I know that now some of the rewards strutures have changed and who says they may not change again but I do use a lot of fuel (have Discover and Chase Freedom this qtr)  I also dine out a lot but I do not buy much groceries, I do travel but like Southwest mainly

[iDShaDoW]

What other credit cards do you have?

I have a PenFed Platinum VISA Cash Rewards card that gives 5% back on gas (no points to juggle; just cash straight back into your statement every month) which is nice.

Everything else is like 0.25% which isn't that great so it's strictly for gas only.

I have other cards for the other categories.

I know they've restructured their other rewards points cards very recently which I'm not not familiar with (pre/post changes) so hopefully someone else can give you more information on those.

[longtimelurker]

Yes, I would go only for the Cash Rewards at this point, the Signature Rewards is going to 3% after Dec (and by all accounts the old Plat Rewards will do the same, force a conversion, or offer no reward, depening who you believe!).

But do this EXPECTING a reward reduction.   If 5% isn't sustainable on some cards, it's presumably not sustainable on Cash Rewards.   But for now, it's 5%

[john398]

Thanks, Cash rewards does look good...

 Also I noticed if you apply via Amazon it said you get a  $50 gift card, I am just curious has anyone actually gotten the gift card?

[RemyWinchester]

Do this at your own risk. My PFCU 5% gas card was devalued twice, before I switched to the new plat rewards 5/3/1% card, which of course got devalued (and is going to get devalued again in January)

With the amount of people PC'ing their plat rewards back to the cash rewards gas card, I bet they don't keep the 5% cash back card very long. Especially with how many people only use it for gas. 

[djc1puno]

Apping for another product from penfed within a certain time frame doesnt guarantee they will use the same report...this happened to me when i opened my account. Talked to 3 different csrs and they each assures me to be safe do it within 30 days...i apped for a cc in that time frame and they still pulled another report! Tried to ask them to remove it but they said they reserve the right to pull another report per app, regardless of what the csrs told me. So the use of the same pull is ymmv

[RemyWinchester]

If you apply through Amazon I believe you get the gift card through Amazon instantly... at least that is what happened when I applied for Amazon's CC issued from Chase on the Amazon website.