If you have a Penfed Platinum Cash Rewards card please read this ...

[Zar]

So they're going to charge us a $25 annual fee if we don't have another PenFed product???

Zar

[Odiseous]

---

@Zar wrote:

So they're going to charge us a $25 annual fee if we don't have another PenFed product???

Zar

---

Correct.

Stolen from the PenFed website:

HOW TO QUALIFY FOR THE PLUS CARD

**You can earn 5% on gas purchases paid at the pump and avoid an annual fee by obtaining a qualifying PenFed product:

• Active checking account with direct deposit ($250 min.)
• Money Market Certificate or IRA Certificate
• Mortgage
• Installment loan
• Equity Loan or Equity Line of Credit with a balance
• Thrifty Credit Service
• Personal Line of Credit
• Education Line of Credit
• Money Market Savings Accounts

[longtimelurker]

So while it looks like you can keep 5% on the Cash Rewards, from the website it looks like this isn't possible on the new Plat Rewards Sig, you just get that till the end of the year.    Not sure who would sign up for that rather than Cash Rewards once they realize how easy it is to get the Plus version.

[FutureBillionaire]

I'm interested to see what happens to the Platinum rewards card.