topic Re: Penfed PCR Rewards Question in Credit Cards

Penfed PCR Rewards Question

Openwater — Tue, 10 Nov 2020 21:00:25 GMT

With the PCR card, how long does it take for you to recieve rewards? Is it as soon as the purchase clears or does it take a month, or two like AMEX?

Re: Penfed PCR Rewards Question

Hex — Tue, 10 Nov 2020 21:09:25 GMT

When the charge fully posts you can redeem. I redeem to my savings account it takes a day or two to credit my savings account.

Re: Penfed PCR Rewards Question

UpperNwGuy — Tue, 10 Nov 2020 21:55:39 GMT

If you make a purchase on Day 1, the purchase will usually post on Day 3 or Day 4. The rewards will also post when the purchase posts. You can redeem those rewards immediately. There is no minimum redemption. This is so much better than Amex in every way!

Re: Penfed PCR Rewards Question

Openwater — Wed, 11 Nov 2020 03:59:48 GMT

Thanks for the prompt replies. Garden for a few months the. Jumping in.

Re: Penfed PCR Rewards Question

DebtStinks — Wed, 11 Nov 2020 14:23:39 GMT

Also keep in mind if you choose the "statement credit" option when redeeming rewards, it will not credit until the day your next statement is generated...assuming you redeem (I think) 2 days prior to statement generation.

Best of luck!

Re: Penfed PCR Rewards Question

newmomnewme — Thu, 12 Nov 2020 19:15:10 GMT

I think mine credits to the statement without me asking....is that an option I could have set up without knowing? @DebtStinks

Re: Penfed PCR Rewards Question

DebtStinks — Thu, 12 Nov 2020 20:19:31 GMT

I didn't know such thing could be done with PenFed. I just logged into my account and attempted the auto redemption option, and it says "Auto redemption is under construction!"

I guess I learned something else today. Thanks for the insight @newmomnewme !

Re: Penfed PCR Rewards Question

newmomnewme — Fri, 13 Nov 2020 00:48:27 GMT

😂😂 thank you! I must have selected it without knowing! Just added a checking account for 2% I'm looking forward to it.