topic Re: Penfed FT fee of 2% starting this month in Credit Cards

Penfed FT fee of 2% starting this month

Anonymous — Fri, 13 Nov 2009 21:59:47 GMT

Just a reminder that this turd of a card will be charging a 2% foreign transaction fee starting Nov. 30.

The Schwab card is still 0% as well as Cap One, if you want another subprime card like penfed.

Message Edited by partsworks on 11-13-2009 01:59 PM

Re: Penfed Forex fee of 2% starting this month

Anonymous — Fri, 13 Nov 2009 21:52:12 GMT

It's a "Foreign Transaction" fee and not a "Foreign Exchange" fee. The fee has nothing to do with currency exchange. Almost every other card charges 3%.

This was discussed in depth in another thread recently. Prominent cards that feature a 0% "Foreign Transaction" fee are the Macy's Visa and those issued by Cap1.

Re: Penfed FT fee of 2% starting this month

wmarat — Fri, 13 Nov 2009 22:44:41 GMT

Addison Avenue FCU Visa Platinum 0% FTF

First Financial FCU 0% FTF.

And believe me or not above institutions much more pleasant to deal with than greedy FIA or Crap One.

As for subprime PenFed, as DickC put it "there are subprime CUSTOMERS",

@Anonymous wrote:
Just a reminder that this turd of a card will be charging a 2% foreign transaction fee starting Nov. 30.
The Schwab card is still 0% as well as Cap One, if you want another subprime card like penfed.
Message Edited by partsworks on 11-13-2009 01:59 PM

Re: Penfed FT fee of 2% starting this month

y0rascal — Sat, 14 Nov 2009 02:09:20 GMT

you guys sound like a bunch of haters to me, i love my penfed card, i have made some much cash back and have yet to pay a penny on the APR.

Re: Penfed FT fee of 2% starting this month

Anonymous — Sat, 14 Nov 2009 03:46:20 GMT

No hater here! I love my PenFed PCR Visa so much I have two of 'em!

Re: Penfed FT fee of 2% starting this month

Anonymous — Sat, 14 Nov 2009 04:21:15 GMT

@Anonymous wrote:
Just a reminder that this turd of a card will be charging a 2% foreign transaction fee starting Nov. 30.
The Schwab card is still 0% as well as Cap One, if you want another subprime card like penfed.
Message Edited by partsworks on 11-13-2009 01:59 PM

What makes the PenFed Visa sub-prime?

Re: Penfed FT fee of 2% starting this month

Anonymous — Sat, 14 Nov 2009 04:29:01 GMT

FaircreditguyFL wrote:
partsworks wrote:
Just a reminder that this turd of a card will be charging a 2% foreign transaction fee starting Nov. 30.
The Schwab card is still 0% as well as Cap One, if you want another subprime card like penfed.
What makes the PenFed Visa sub-prime?

Most likely the fact that they inflicted a 90% or better CLD on him. He posted something to that effect on here somewhere.

I've never heard of PenFed inflicting random AA on cardholders. Where AA has been imposed there has always been a reason.

Re: Penfed FT fee of 2% starting this month

bostonte — Sat, 14 Nov 2009 05:15:16 GMT

Subprime or not, if I could get one I would.

I don't see how anyone could argue that it's not a very respectable card offering with a lot of advantages.

Re: Penfed FT fee of 2% starting this month

Anonymous — Sat, 14 Nov 2009 13:03:55 GMT

@Anonymous wrote:
Just a reminder that this turd of a card will be charging a 2% foreign transaction fee starting Nov. 30.
The Schwab card is still 0% as well as Cap One, if you want another subprime card like penfed.

Why limit yourself to just one card? We have a Cap One (20K limit) for overseas travel & a PenFed Platinum (15K limit) for gas & groceries.

The right tool for the right job.

Re: Penfed FT fee of 2% starting this month

Anonymous — Sat, 14 Nov 2009 14:51:45 GMT

Why limit yourself to just one card? We have a Cap One (20K limit) for overseas travel & a PenFed Platinum (15K limit) for gas & groceries.

The right tool for the right job.

+1 on that, One size card doesn't fit all,

The OP seems to think you can only use one card, If he's travelling overseas, then he needs to use a card that doesn't have a forgeign transaction fee,

I myself don't travel much anymore so the best card for me currently is the PenFed cash back card, If I wanted airline miles, then I'd need ot get a card that gives airline miles,

Re: Penfed FT fee of 2% starting this month

Anonymous — Sat, 14 Nov 2009 15:41:09 GMT

Most of my cards are 1% or less on FT. Went to Cancun last month. Guess I'll need to check it out when I go out of country again.

BTW: I have a CapOne Rewards Ultra Pro and they told me 1% FT....

Re: Penfed FT fee of 2% starting this month

Anonymous — Sat, 14 Nov 2009 15:51:33 GMT

This is the definitive source regarding credit/debit card foreign use and fees:

http://flyerguide.com/wiki/index.php/Credit/Debit/ATM_Cards_and_Foreign_Exchange

If any Cap1 card has an FT fee it is news to both them and me.

Re: Penfed FT fee of 2% starting this month

Anonymous — Sun, 15 Nov 2009 17:19:15 GMT

txjohn wrote:
BTW: I have a CapOne Rewards Ultra Pro and they told me 1% FT....

Are you sure? I called CapOne just prior to a trip to Rome in late September & was told 0%. (My card is a No Hassle Rewards MasterCard, if that matters.)

The charges that we incurred on this trip appear on our latest statement. No mention of a fee. On average, our conversion rate worked out to $1.45 per Euro.

Re: Penfed FT fee of 2% starting this month

Anonymous — Mon, 16 Nov 2009 09:36:17 GMT

@Anonymous wrote:
txjohn wrote:
BTW: I have a CapOne Rewards Ultra Pro and they told me 1% FT....
Are you sure? I called CapOne just prior to a trip to Rome in late September & was told 0%. (My card is a No Hassle Rewards MasterCard, if that matters.)
The charges that we incurred on this trip appear on our latest statement. No mention of a fee. On average, our conversion rate worked out to $1.45 per Euro.

I'll double check this and if I just understood I'll be kicking myself since I paid the 1% using my USAA CC

Message Edited by txjohn on 11-16-2009 01:36 AM