topic PenFed Points in Credit Cards

PenFed Points

fittiger — Thu, 28 Mar 2013 14:25:36 GMT

For all of those with PenFeds rewards cards, how does teir rewards system work?

What can points be redeemed for? Cash, merchandise, travel? Can they be transferred to airlines/hotel rewards?

Re: PenFed Points

Anonymous — Thu, 28 Mar 2013 14:33:52 GMT

For the platinum rewards program, there are gift card, merchandise and travel type rewards. And there are the usual "special offers", e.g. today a $25 certificate to Chilis for 2,400 points.

But, more usefully for many, for 5,000 points you can get a $50 prepaid visa, so this cash equivalent is redeemed at 1 point for 1 cent, unlike some other programs.

Re: PenFed Points

Anonymous — Thu, 28 Mar 2013 14:34:44 GMT

And on this program, the points cannot be transferred to partner programs. I assume other rules apply on their travel type cards.

Re: PenFed Points

fittiger — Thu, 28 Mar 2013 15:58:53 GMT

So if I'm getting this as a secondary card, the Platinum Cash Rewards or Promise Visa would be my best bet?

Re: PenFed Points

FutureBillionaire — Thu, 28 Mar 2013 16:22:47 GMT

No. The Platinum rewards card is much better. You get 1 point per dollar spent. The cash rewards only gives you a percentage of a point back for spending outside of gas stations.

Re: PenFed Points

Anonymous — Thu, 28 Mar 2013 17:29:37 GMT

And it also gives 3% off at supermarkets, equalling the Amex BCE. It is also uncapped (so no $6K cap like with the BCP/BCE) and works abroad (I got 3% back at UK supermarkets last month)