4% on gas - golden 1 credit union

[TheBoondocks]

Hey guys, so the credit card has updated. It gets 4% on has up to $5k/y which is $200/y CB. Not the best but an alternative to PNC.

https://www.golden1.com/credit-cards-loans/credit-cards

[PullingMeSoftly]

That's a pretty solid upgrade, $415-ish spend on gas per month and with the dining and grocery multipliers. Great option for CA residents. Actually gives the 3/3/3 cards like SAFE CU and Bank of the West some competition, not to mention the Citi Costco and PNC 4% gas cards too.

[ptatohed]

Very cool.  Great to know, thanks for sharing.  

[unsungivy]

I went to double check this card vs the Pelicans card, which was 4x gas uncapped and 4x dining I thought... only to find a stealth nerf happened to all the Cardless cards. Oof!

So yeah, this Golden1 card is solid, given the alternatives poofed.

[xenon3030]

I am checking Penfed and they have the Platinum Rewards card, giving 5x on gas and EV charging. Strangely, the card does not have AF. Does anyone know the estimated value of penfed points (if redeeming as cash or for travel)? 

It seems that the card does not have CAP. It also gives 3x in supermarkets (including Target/Walmart), restaurants, cable, streaming. 

[Anonymous]

0.8?

[Kforce]

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@xenon3030 wrote:

I am checking Penfed and they have the Platinum Rewards card, giving 5x on gas and EV charging. Strangely, the card does not have AF. Does anyone know the estimated value of penfed points (if redeeming as cash or for travel)? 

It seems that the card does not have CAP. It also gives 3x in supermarkets (including Target/Walmart), restaurants, cable, streaming. 

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As @Anonymous stated 0.8 cents per point.

Gas 5x = 4 cents

Other 3x catagories = 2.4 cents

[coldfusion]

More exactly for the Penfed Platinum Rewards card the commonly tossed-about figure for point valuation is 0.85 cents per point but the caveat is that they can't be redeemed for cash value or statement credit.  Occasionally one can do better than that if a specific gift card has a promotional offer in play.

[coldfusion]

Here are a couple of examples of redemption rates (I have a Penfed Platinum Rewards card).

The 2940 points for a $25 gift certificate (5880 for $50, and so on) is the standard redemption rate; 5000/5880 is almost exactly .85 cents/dollar valuation.  The promotional offer for an Outback Steakhouse gift card yields .945 cents/dolar valuation.

[xenon3030]

Is it feasible to redeem points for a debit card or for an Amazon GC? If yes and if it is with a ~0.85x rate, the penfed CC might be worth. I was looking at this card as one of the rare options that covers EV charging (5x --> 4.25%).

I also was looking at the Penfed Pathfinder with 50k SUB (spend 3k/90 days --> ~$425). This card might be also good (AF gets waived by membership) and not sure whether it is straightforward to PC this card to Plat later or reverse.