I was going online today to pay my bills and saw this on the home page. I checked out the "Compare Cards" link and noticed (2) things. The CashRewards Visa (5% Gas Card) is no longer showing online and was replaced (possibly) with a new 1.5% CashBack card. Albeit 1.5% is nothing special these days, I'm wondering if that means they are discontinuing the 5% Gas card which I do have or if they are grandfathering those account holders and it's simply not available to new customers, or if at some point they are going to PC those into this 1.5% card?? Just wondering...thoughts?
*it does say in the ad "See how easy it is to earn 2% cash back" and when digging in i found "Get .05% More Cash Back (bringing it up to a 2% card) with our PenFed Honors Advantage Program" - but i'm not quite sure what that is and it didnt say much on how to get that. Anybody know what that is?
@Anonymous wrote:Sorry if this has already been posted. The wifi at DFW is creeping along so I wasn't able to search. PenFed Power Cash Rewards
I literally just found this and put a post as well. lol...small world
Do they offer a fee-free checking account like many CUs? If so, this is a pretty solid product. It seems like Penfed really has a good idea of how to set up their cards to make them attractive to consumers. I'd definitely consider one if checking accounts are free.
I think the rewards redemption policy will determine if it's worth checking out. I have two 2% cards. Blispay has some limitations being a startup, and the Double Cash has a $25 redemption minimum. If this card has no redemption minimum, it'd be a pretty good option for those that can/will qualify for 2%. The lower interest rate bracket also makes it appealing (9.24 to 17.99%).
So, you don't have to be a member to apply or do you have to do a donation to PenFed first?
