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Regular Contributor
Posts: 107
Registered: ‎04-23-2008
0

PenFed Product Change reporting question

[ Edited ]

Hello,

 

I product changed my PenFed Promise to Cash Rewards. I opened the Promise last year in November so the "Cardholder Since" date was 2012. Today I got my new Cash Rewards card but the "Cardholder Since" date is now 2013. Does this mean I lost the history accumulated with the previous card? Will it be a new credit line reported to the CRAs?

 

Thank you!

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Valued Contributor
Posts: 1,441
Registered: ‎01-14-2009
0

Re: PenFed Product Change reporting question

I would also like to know the answer to this question. I'm interested in PC'ing my PenFed Gold Visa to the PenFed Platinum Rewards Visa card.

New Contributor
Posts: 401
Registered: ‎03-16-2013
0

Re: PenFed Product Change reporting question

I wanted to change mine and the cs told me there will be new account opened and it will show on your credit as new account in addition to the one you have right now

Is not worth it,dont do it

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Regular Contributor
Posts: 107
Registered: ‎04-23-2008
0

Re: PenFed Product Change reporting question

I already did the product change and I have the new card with me... So there is no way to fix this issue with the history/reporting date?

 

Has anyone else experience this issue and got it fixed by PenFed?

 

Thanks!

 

Zar Smiley Happy

Valued Contributor
Posts: 1,673
Registered: ‎11-11-2012
0

Re: PenFed Product Change reporting question


Zar wrote:

I already did the product change and I have the new card with me... So there is no way to fix this issue with the history/reporting date?

 

Has anyone else experience this issue and got it fixed by PenFed?

 

Thanks!

 

Zar Smiley Happy


Is the old one still open?  If so, you have to balance the increase in CL against AAoA concerns.  If the old one is closed, certainly try to get them to fix it.  They failed to close my old one, and that's fine by me!

 

BTW, why did you choose Cash Rewards vs Platinum Rewards?

Regular Contributor
Posts: 107
Registered: ‎04-23-2008
0

Re: PenFed Product Change reporting question

[ Edited ]

Hi bs6054!

 

Yes, they already closed the old one, it doesn't even appear on my online account. So you said your older card is still open? Since mine is apparently closed, I will try to fix it and get it dated to 2012 when I opened the Promise card I converted.

 

I chose the Carsh Rewards because according what I read, redeeming the cash back is easier than the Platinum Rewards in which it is us who have to initiate the redemption and wait for it to be processed. Actually, I have other cards with cash rewards for the other categories and this one would give me the highest % on gas.

 

Zar Smiley Happy

Valued Contributor
Posts: 1,673
Registered: ‎11-11-2012
0

Re: PenFed Product Change reporting question

Yes, it shouldn't still be open, but it is, and since that's an extra $20K of CL I haven't bothered to complain!

 

You are right that Cash Rewards is automatic redemption and Plat Rewards you need to collect points and then redeem.  I just wanted Plat Rewards for the uncapped 3% on groceries, which I need once the BCP cap is reached.

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