topic Re: Rewards Revoked - PenFed in Credit Cards

Rewards Revoked - PenFed

CramEiko — Sun, 23 Apr 2023 01:19:51 GMT

So, I'm asking for a friend <<cough>>

Has anyone lost their rewards with PenFed or any other card for that matter? Say for, spending too much? I think my friend said Penfed said "miss use of rewards program or something?" The friend said that they managed PenFed 2 times asking for a reconsideration of rewards program *** with no response back, not even a peep *** (using internal PenFed messaging system).

Re: Rewards Revoked - PenFed

NoMoreE46 — Sun, 23 Apr 2023 01:42:03 GMT

People do lose their rewards and will occasionally rant about it here.

Usually those people will say they accrued like Tens of thousands of rewards "legitimately" but they never reappear to prove accordingly.

Re: Rewards Revoked - PenFed

sznthescore — Sun, 23 Apr 2023 01:46:55 GMT

@NoMoreE46 wrote:
People do lose their rewards and will occasionally rant about it here.

Usually those people will say they accrued like Tens of thousands of rewards "legitimately" but they never reappear to prove accordingly.

👀 lol 🙃😂

Re: Rewards Revoked - PenFed

CH-7-Mission-Accomplished — Sun, 23 Apr 2023 03:15:49 GMT

@CramEiko wrote:
So, I'm asking for a friend <<cough>>
Has anyone lost their rewards with PenFed or any other card for that matter? Say for, spending too much? I think my friend said Penfed said "miss use of rewards program or something?" The friend said that they managed PenFed 2 times asking for a reconsideration of rewards program *** with no response back, not even a peep *** (using internal PenFed messaging system).

I'm sorry you lost you reward points. I'm not exactly clear on what happened, though. I have two Penfed cards, one for $25K and one for $20K. I barely use them.

Did Penfed accuse you of cycling or something? I see you have a $50K limit with them, and a lot of very high limit cards.

Can you explain it to me like I'm three?

Thanks!

Re: Rewards Revoked - PenFed

GZG — Sun, 23 Apr 2023 03:47:30 GMT

did somebody try to perform an infinite money glitch irl?

Re: Rewards Revoked - PenFed

OmarGB9 — Sun, 23 Apr 2023 05:19:33 GMT

@NoMoreE46 wrote:
People do lose their rewards and will occasionally rant about it here.

Usually those people will say they accrued like Tens of thousands of rewards "legitimately" but they never reappear to prove accordingly.

This.

Re: Rewards Revoked - PenFed

Anonymous — Sun, 23 Apr 2023 14:02:19 GMT

@NoMoreE46 wrote:
People do lose their rewards and will occasionally rant about it here.

Usually those people will say they accrued like Tens of thousands of rewards "legitimately" but they never reappear to prove accordingly.

Well, I think there is always a question of what "legitimately" means, plus the enforced ToS usually shut down discussion of any MS topics.

Re: Rewards Revoked - PenFed

CramEiko — Tue, 25 Apr 2023 19:30:28 GMT

@GZG wrote:
did somebody try to perform an infinite money glitch irl?

What is that?

Re: Rewards Revoked - PenFed

GZG — Tue, 25 Apr 2023 19:33:53 GMT

@CramEiko wrote:
@GZG wrote:
did somebody try to perform an infinite money glitch irl?

What is that?

buying 'money' with your cc with the purpose of using that money to pay off the cc you used to pay for the 'money', creating an infinite cycle where the issuer pays out, theortically, infinite rewards for as often as you're able to cycle the card

you get shut down for that pretty quickly usually

Re: Rewards Revoked - PenFed

CramEiko — Tue, 25 Apr 2023 19:36:56 GMT

@CH-7-Mission-Accomplished wrote:
@CramEiko wrote:
So, I'm asking for a friend <<cough>>
Has anyone lost their rewards with PenFed or any other card for that matter? Say for, spending too much? I think my friend said Penfed said "miss use of rewards program or something?" The friend said that they managed PenFed 2 times asking for a reconsideration of rewards program *** with no response back, not even a peep *** (using internal PenFed messaging system).

I'm sorry you lost you reward points. I'm not exactly clear on what happened, though. I have two Penfed cards, one for $25K and one for $20K. I barely use them.

Did Penfed accuse you of cycling or something? I see you have a $50K limit with them, and a lot of very high limit cards.

Can you explain it to me like I'm three?

Thanks!

Um, <<cough>> My friend had to use his personal card to help pay for business expenses until his business cards reached a CL high enough cover. It may have been = / < than 6 months.

Re: Rewards Revoked - PenFed

GZG — Tue, 25 Apr 2023 19:53:52 GMT

@CramEiko wrote: Um, <<cough>> My friend had to use his personal card to help pay for business expenses until his business cards reached a CL high enough cover. It may have been = / < than 6 months.

if it wasn't for purchasing money equivalents and the card account itself wasn't closed or locked, I'm surprised you haven't heard back

Re: Rewards Revoked - PenFed

Anonymous — Tue, 25 Apr 2023 21:02:59 GMT

@GZG wrote:
@CramEiko wrote:
@GZG wrote:
did somebody try to perform an infinite money glitch irl?

What is that?
buying 'money' with your cc with the purpose of using that money to pay off the cc you used to pay for the 'money', creating an infinite cycle where the issuer pays out, theortically, infinite rewards for as often as you're able to cycle the card

you get shut down for that pretty quickly usually

Usually called MS

Re: Rewards Revoked - PenFed

CramEiko — Wed, 26 Apr 2023 17:04:42 GMT

@Anonymous wrote:
@GZG wrote:
@CramEiko wrote:
@GZG wrote:
did somebody try to perform an infinite money glitch irl?

What is that?
buying 'money' with your cc with the purpose of using that money to pay off the cc you used to pay for the 'money', creating an infinite cycle where the issuer pays out, theortically, infinite rewards for as often as you're able to cycle the card

you get shut down for that pretty quickly usually
Usually called MS

What is MS?

Re: Rewards Revoked - PenFed

SouthJamaica — Wed, 26 Apr 2023 17:26:25 GMT

@CramEiko wrote:
@CH-7-Mission-Accomplished wrote:
@CramEiko wrote:
So, I'm asking for a friend <<cough>>
Has anyone lost their rewards with PenFed or any other card for that matter? Say for, spending too much? I think my friend said Penfed said "miss use of rewards program or something?" The friend said that they managed PenFed 2 times asking for a reconsideration of rewards program *** with no response back, not even a peep *** (using internal PenFed messaging system).

I'm sorry you lost you reward points. I'm not exactly clear on what happened, though. I have two Penfed cards, one for $25K and one for $20K. I barely use them.

Did Penfed accuse you of cycling or something? I see you have a $50K limit with them, and a lot of very high limit cards.

Can you explain it to me like I'm three?

Thanks!
Um, <<cough>> My friend had to use his personal card to help pay for business expenses until his business cards reached a CL high enough cover. It may have been = / < than 6 months.

Yeah, well, that explains it.

Re: Rewards Revoked - PenFed

Anonymous — Wed, 26 Apr 2023 22:21:33 GMT

@CramEiko wrote:
@Anonymous wrote:
@GZG wrote:
@CramEiko wrote:
@GZG wrote:
did somebody try to perform an infinite money glitch irl?

What is that?
buying 'money' with your cc with the purpose of using that money to pay off the cc you used to pay for the 'money', creating an infinite cycle where the issuer pays out, theortically, infinite rewards for as often as you're able to cycle the card

you get shut down for that pretty quickly usually
Usually called MS
What is MS?

Manufactured Spend. At its most basic, use a credit card to buy something that's very "similar" to cash, earning rewards. Transform the thing into actual cash and use the cash to pay off the card. And repeat, basically earning rewards with money from the issuer.

In theory, you could do this with anything if the market was right: buy a box of cereal at the supermarket, earning 3-6x rewards, find someone willing to buy the box at very near the purchase price, and repeat! But other things are much more efficient.

Re: Rewards Revoked - PenFed

binaryhermit — Thu, 27 Apr 2023 11:14:33 GMT

@Anonymous wrote:
In theory, you could do this with anything if the market was right: buy a box of cereal at the supermarket, earning 3-6x rewards, find someone willing to buy the box at very near the purchase price, and repeat! But other things are much more efficient.

Apparently someone managed to spend $6,400,000 on money orders and Visa gift cards on an Amex and net like $300k in rewards, leading to a tax court decision on whether credit card rewards are taxable.