topic Re: Penfed Gold vs. Penfed Power Cash Rewards in Credit Cards

Penfed Gold vs. Penfed Power Cash Rewards

WhiteCollar — Tue, 14 Jul 2020 19:19:06 GMT

Hello All-

I'm going to apply for a PedFed visa soon after I close on my house next week! I'm just not sure which one, torn between the Gold and the Power Cash. My EQ is 705 with 1% utilization. I figured since they have been so generous lately, I should at least try.

What do ya'll think?

Re: Penfed Gold vs. Penfed Power Cash Rewards

cf2701 — Tue, 14 Jul 2020 19:05:03 GMT

Others may disagree, but PCR would be the first choice. Why not? The card has more advantages for cash back and in my experience, you get the same rate and starting line. (Both 10K for me)

Unless you are needing to take advantage of the 0% for 12 mo offer, seems like a no brainer?

Re: Penfed Gold vs. Penfed Power Cash Rewards

M_Smart007 — Tue, 14 Jul 2020 19:07:15 GMT

I agree, PCR would also be my first choice.

Re: Penfed Gold vs. Penfed Power Cash Rewards

Anonymous — Tue, 14 Jul 2020 19:11:41 GMT

Penfed Power Cash Rewards has the extended warranty protection, that's what made me choose it.

Re: Penfed Gold vs. Penfed Power Cash Rewards

mrcraft — Tue, 14 Jul 2020 19:36:43 GMT

I chose PCR because with my PenFed checking, it's 2% back on everything.

Re: Penfed Gold vs. Penfed Power Cash Rewards

Anonymous — Tue, 14 Jul 2020 23:12:19 GMT

Unless you are hoping for a really low apr, to me the PCR is the winner. I bank there so I also get the 2% back, which to me makes it far and away better than the Citi Double Cash, since it has no foreign transaction fees and the redemption amount minimum is lower, and I like to transfer out whatever cash back I receive from all cards into a separate savings account.

Of the 14 cards I have, this one always makes the cut to stay in my three wallet spots lol.

I only wish PenFed would give purchase notifications within the iOS app and not a text message, but I'll survive.

Re: Penfed Gold vs. Penfed Power Cash Rewards

slickwidit — Tue, 14 Jul 2020 23:15:02 GMT

PCR bundled with checking is winner!

Re: Penfed Gold vs. Penfed Power Cash Rewards

wingennis — Wed, 15 Jul 2020 00:07:55 GMT

PCR for sure.

Re: Penfed Gold vs. Penfed Power Cash Rewards

UpperNwGuy — Wed, 15 Jul 2020 01:59:33 GMT

Gold is a starter card, or for people who are rebuilding. It has no rewards, just balance transfer capabilities. Power Cash is for the rewards. I typically earn $40 a month from Power Cash.

Re: Penfed Gold vs. Penfed Power Cash Rewards

ccquest — Wed, 15 Jul 2020 02:46:27 GMT

Another vote for the Power Cash Rewards, it's the one I went for to get the nice 2% cash back on everything because I parked $500 in the checking account too. Gold just has lower APR and balance transfers going for it over the PCR from my point of view, both of which are useless for me as I don't carry balances.

Re: Penfed Gold vs. Penfed Power Cash Rewards

WhiteCollar — Mon, 20 Jul 2020 01:52:19 GMT

Thanks everyone! I was approved for the Power Cash Rewards with a $10K SL, super excited!!

https://ficoforums.myfico.com/t5/Credit-Card-Approvals/PenFed-Power-Cash-Rewards-Approved/td-p/6086223

Re: Penfed Gold vs. Penfed Power Cash Rewards

AllZero — Mon, 20 Jul 2020 01:57:23 GMT

@WhiteCollar wrote:
Thanks everyone! I was approved for the Power Cash Rewards with a $10K SL, super excited!!

https://ficoforums.myfico.com/t5/Credit-Card-Approvals/PenFed-Power-Cash-Rewards-Approved/td-p/6086223

Congratulations on your approval! Good decision on the PCR.

Re: Penfed Gold vs. Penfed Power Cash Rewards

M_Smart007 — Mon, 20 Jul 2020 03:12:45 GMT

@WhiteCollar wrote:
Thanks everyone! I was approved for the Power Cash Rewards with a $10K SL, super excited!!

https://ficoforums.myfico.com/t5/Credit-Card-Approvals/PenFed-Power-Cash-Rewards-Approved/td-p/6086223

YESSSSSSSS!