06-01-2013 04:58 PM
Wow, did Penfed just remove this card from their site? Whether you look under the credit card listings on the main site or logged in - I now only see the Signature card! You think they're phasing this out to the 3%-2%-1% rewards only?
06-01-2013 06:05 PM
Looks like it's gone for new applicants (which makes sense) although they still have the old cash one (5% off gas, 0.25% of the rest). As I said earlier, we don't know what will happen to existing card holders. Some have already been given the option to switch to the Signature version, and I was told we all would be given that option. (Actually, it's an opt-out, unless you explicitly decline, you get converted). What's not clear is what happens to those that opt out. I just find it hard to believe that they would continue to get 5/3/1 for a long period.
06-01-2013 06:15 PM
That's really disappointing, especially for my planned spree in the fall. I thought the non-signature version looked better too. . .
06-01-2013 06:23 PM - edited 06-01-2013 06:24 PM
Well, I don't know if I was feeling app-happy or what, but on a whim I checked the BofA site for pre-approved offers. The Cash Rewards card came up as an offer, and I pulled the trigger! Approved instantly for $5,000.
congrats and nice limit! I have a penfed membership/account but havent pulled the trigger cuz i have 2 chargeoffs from 2007 due to fall off in 2014 so will apply then.There a very conservative lender.
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