PenFed Invite

[OnTheRebound]

My wife recieved this invitation, via snail mail, to switch her Visa Platinum Cash Rewards Card to this new Visa Platinum Rewards Card.

The 25000 bonus points is the only reason I would consider switching. Reducing the interest rate to 9.99% from 13.99% doesn't do a thing for me.

Anyone else get this offer?

Introducing the PenFed Platinum Rewards Card Because you are a valued Visa Platinum Cash cardholder, we invite you to accelerate your rewards with the new PenFed Platinum Rewards card. This new Visa card delivers more ways to earn and use rewards than any other PenFed credit card†: 5 points per dollar spent on gas purchases 3 points per dollar spent on supermarket purchases 1 point per dollar spent on all other purchases The points you earn can easily be redeemed online for merchandise, travel, gift cards, or even Visa prepaid cards—which can be used like cash anywhere Visa is accepted. You will receive more information about tracking and redeeming your points once your switch becomes effective in February. Switching from Cash to Points is Easy We made it easy for you to switch from the Visa Platinum Cash card to the PenFed Platinum Rewards card. There is no application necessary, your rates will stay the same, and you can continue to use your existing card plastic. Simply fill out the information requested on the side and click the "Submit" button and you will automatically begin earning points with every purchase at the start of your first billing cycle after February 1. Until then, you will continue to earn cash back. Special, Limited Time Offer Plus, you can jumpstart your rewards by earning 5,000 points the very first time you use your card and another 20,000 points when you spend $1,000 within the first 3 months. That's $250 that you can use toward merchandise, gift cards, and other rewards. Or, you can use your points for other easy-to-redeem rewards, such as merchandise, gift cards, or travel.

Please enter your name as it appears on your credit card. First Name: Last Name: E-mail: Last 4 Digits of your Card Account Number:

HOME   |    Disclosures   |    Site Map   |    Privacy Policy © 2011 Pentagon Federal Credit Union. This Credit Card program is issued and administered by PenFed. *Cash back will be returned in the form of a Visa prepaid card which can be used like cash anywhere Visa® is accepted. †Rewards are available only for new purchases made with the card: cash advances, checks drawn from the account, and balance transfers are excluded and do not earn credit toward rewards. Certain restrictions may apply. Visa® USA determines which transactions are classified as gas purchases paid at the pump and supermarket purchases based on Merchant Category Codes. Fuel purchases for airplanes and boats receive 1 point per dollar spent. Your card account must be open and in good standing to earn rewards.

[Anonymous]

http://ficoforums.myfico.com/t5/Credit-Cards/New-PenFed-Credit-Card/td-p/1135465