topic Re: PenFed or Sallie Mae for 5% Gas in Credit Card Applications

PenFed or Sallie Mae for 5% Gas

Anonymous — Wed, 08 Jul 2015 18:35:44 GMT

Which is better? Is one easier than the other to apply for? How easy is it to use points for each? I usually use points/cashback for statement credits.

Re: PenFed or Sallie Mae for 5% Gas

Anonymous — Wed, 08 Jul 2015 18:40:55 GMT

Sallie Mae is a better card and easier to get than the PenFed gas card. PenFed's card only gives rewards for gas, while SM gives out the 5% for groceries and Amazon as well as the gas rewards. Rewards are very easy to use.

Re: PenFed or Sallie Mae for 5% Gas

Anonymous — Wed, 08 Jul 2015 18:46:14 GMT

@Anonymous wrote:
Sallie Mae is a better card and easier to get than the PenFed gas card. PenFed's card only gives rewards for gas, while SM gives out the 5% for groceries and Amazon as well as the gas rewards. Rewards are very easy to use.

Thanks for the response! I use my Amex BCP for groceries at 6%. Just looking for a 5% for gas when Discover IT and/or Chase Freedom don't have it as a quarterly 5% category.

Re: PenFed or Sallie Mae for 5% Gas

baller4life — Wed, 08 Jul 2015 18:49:54 GMT

I need both. I use way more than $250 a month on gas.

Re: PenFed or Sallie Mae for 5% Gas

Anonymous — Wed, 08 Jul 2015 18:50:04 GMT

@Anonymous wrote:
@Anonymous wrote:
Sallie Mae is a better card and easier to get than the PenFed gas card. PenFed's card only gives rewards for gas, while SM gives out the 5% for groceries and Amazon as well as the gas rewards. Rewards are very easy to use.
Thanks for the response! I use my Amex BCP for groceries at 6%. Just looking for a 5% for gas when Discover IT and/or Chase Freedom don't have it as a quarterly 5% category.

Gotcha, don't get me wrong. I love PenFed and I would encourage you to join but there are other cards they have that are better than their gas one. They can be conservative at times when it comes to approvals as they tend to look unfavorably on a lot of new accounts (they call it debt pyramiding). Sallie Mae posts their rewards immediately as soon as the charge goes from pending to posted so there is no waiting on rewards.

Re: PenFed or Sallie Mae for 5% Gas

Anonymous — Wed, 08 Jul 2015 18:52:41 GMT

@baller4life wrote:
I need both. I use way more than $250 a month on gas.

I don't drive much. Just to work and school and around town for errands/shopping. 19 gallon tank. I fill up every 2.5-3 weeks. :/

Re: PenFed or Sallie Mae for 5% Gas

Anonymous — Wed, 08 Jul 2015 18:53:30 GMT

Gotcha, don't get me wrong. I love PenFed and I would encourage you to join but there are other cards they have that are better than their gas one. They can be conservative at times when it comes to approvals as they tend to look unfavorably on a lot of new accounts (they call it debt pyramiding). Sallie Mae posts their rewards immediately as soon as the charge goes from pending to posted so there is no waiting on rewards.

I see. Good to know.

Re: PenFed or Sallie Mae for 5% Gas

Anonymous — Wed, 08 Jul 2015 20:45:02 GMT

I have the BCP/SM combo and it works well for me.

We just opened the BCP in April, so won't have the full year to use up the $6k so we should be fine this year, (I think I'm right that the cap for BCP goes by calendar year) but it'd be close. I throw groceries on the SM once in a while just to be safe. Next year, if Freedom and/or Discover does a quarter of groceries, should be the same. If not, I'll be more strategic with having SM mixed in.

SM has been more than we need for gas, but we just got two vehicles that aren't quite as good with fuel as our old ones so on a regular basis, it'll be close. Also we're about to embark on a couple road trips, so I'll be mixing in AmEx TE and Freedom for gas in the near term.

ETA: And for me, Target codes as groceries for SM but I don't think it does on BCP. Using SM at Target keeps me from having to juggle the Red Card as well. YMMV

Re: PenFed or Sallie Mae for 5% Gas

Gmood1 — Wed, 08 Jul 2015 21:37:37 GMT

I use BCP for groceries as well. I use the PenFed Rewards strictly for gas. Sallie Mae's cap just would'nt cut it for my household.

The PenFed card credits instantly. No fooling around with points, no restrictions and no cap.

Re: PenFed or Sallie Mae for 5% Gas

baller4life — Wed, 08 Jul 2015 21:54:33 GMT

@Gmood1 wrote:
I use BCP for groceries as well. I use the PenFed Rewards strictly for gas. Sallie Mae's cap just would'nt cut it for my household.
The PenFed card credits instantly. No fooling around with points, no restrictions and no cap.

Sweet!! Can't wait to get it. I need a designated gas card. No caps

Re: PenFed or Sallie Mae for 5% Gas

Gmood1 — Wed, 08 Jul 2015 22:03:07 GMT

That's what I like about the Penfed cards in general Baller. There's no fluff to them. But they're no fuss cards that get right down to the nitty gritty. The no caps or restrictions isn't easy to find these days.

Re: PenFed or Sallie Mae for 5% Gas

baller4life — Wed, 08 Jul 2015 22:13:01 GMT

Get both OP.

Re: PenFed or Sallie Mae for 5% Gas

Anonymous — Wed, 08 Jul 2015 22:40:21 GMT

Peer pressure, baller? Lol

Re: PenFed or Sallie Mae for 5% Gas

baller4life — Wed, 08 Jul 2015 22:45:13 GMT

Re: PenFed or Sallie Mae for 5% Gas

Anonymous — Wed, 08 Jul 2015 23:38:52 GMT

I got the SM card coming in the mail soon. One of the reasons I got it was for the 5% for gas. I also have a BJ's Perks MC that gives me 10 cents off per gallon at the pump, plus they're already 5 or 10 cents cheaper than the nearest gas competitor. I have a Tundra that loves gas (less than 14 mpg) so that comes in handy, however if I can't get to the local BJ's for gas, then the SM will be a great backup with 5% for me, I can't imagine going over $250 with it per quarter. So, at the local Sheetz, I already get 3 cents off per gallon with their card, and then the SM 5% will make it worthwhile.

Baller keeps pressuring me to get the PenFed but I have too many INQ and new cards this year so I won't waste a HP on it at this time.

Re: PenFed or Sallie Mae for 5% Gas

baller4life — Wed, 08 Jul 2015 23:44:01 GMT

That was before I knew you had 14 new accounts this year. You need to wait a while you pyramider you! LOL

Re: PenFed or Sallie Mae for 5% Gas

Anonymous — Wed, 08 Jul 2015 23:48:22 GMT

@baller4life wrote:
That was before I knew you had 14 new accounts this year. You need to wait a while you pyramider you! LOL

Call me the pharoh. I was just over on PenFed an hour ago looking at the rates for refinancing my Tundra. Unfortunately their APR was higher than the 2.9% I have already for 72 months. I thought that might have been a good reason to blow another HP and then app for the card. Didn't happen so I'll wait a year.

Re: PenFed or Sallie Mae for 5% Gas

Anonymous — Thu, 09 Jul 2015 03:21:06 GMT

I would have to qualify for the World MC version of the Sallie Mae to get the 5% on gas it seems. I don't think my income warrants the 5k limit :/ Also, my scores are a little low due to recent inquiries.

Re: PenFed or Sallie Mae for 5% Gas

baller4life — Thu, 09 Jul 2015 03:41:35 GMT

That's not true. Both Sallie Mae cards are 5% on gas.

Re: PenFed or Sallie Mae for 5% Gas

Anonymous — Thu, 09 Jul 2015 03:44:36 GMT

I see. Still going to wait. Freedom has 5% on gas for the quarter, and I just got approved for the Ring the other day, hasn't even come in the mail yet, lol