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Looks very good to me...makes me wonder if I should even try to get in with Chase now or just move along with Penfed
Just realized they removed the gas card!!!! WTH, I was in the process of setting up my Money Market Savings Account to get their 5% cash back on gas. This was the only reason I joined PenFed!! What am I supposed to do now....I can't even deal with this now.
Noooo!!!!! I was just about to apply to the gas card!
I guess I'll have to settle for the points one now.
@Anonymous wrote:
Looks very good to me...makes me wonder if I should even try to get in with Chase now or just move along with Penfed
Just realized they removed the gas card!!!! WTH, I was in the process of setting up my Money Market Savings Account to get their 5% cash back on gas. This was the only reason I joined PenFed!! What am I supposed to do now....I can't even deal with this now.
Same here! Just two days ago I was trying to sign up for a money market account but thankfully the website wasn't working and I was too lazy to call! This sucks, and I also just learned that the 5x points card is really like 4.25% when redeemed for gift cards.
@happypill wrote: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.
The only checking account they offer has a $10 monthly fee unless you (a) make direct deposits of $500 per month or (b) maintain a minimum $500 balance.
@happypill wrote: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.
Their checking account is not exactly free. It's $10 a month unless you (a) maintain a $500 minimum balance or (b) make $500 a month in direct deposits.
It's exactly the kind of card I don't need any more of... the kind that's good for purchases but not for cash advances or balance transfers. I recently closed 3 accounts like that, all with Synchrony.
But I couldn't resist pulling the lever anyway, since I kind of like PenFed and I like across the board 2% cash back.
I'll probably be better off if they turn me down.
The other thing for everyone to keep in mind is that it is a HP for the checking account. If you don't have one already, do it the same day you apply for the CC.
@SouthJamaica wrote:
@happypill wrote: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.
The only checking account they offer has a $10 monthly fee unless you (a) make direct deposits of $500 per month or (b) maintain a minimum $500 balance.
I don't believe this is true. I have the Access America Checking with about $100 in it and I don't have any DD going into it. If you want interest DD is required, but I have yet to be charged any kind of account fee.
@Anonymous wrote:
@SouthJamaica wrote:
@happypill wrote: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.
The only checking account they offer has a $10 monthly fee unless you (a) make direct deposits of $500 per month or (b) maintain a minimum $500 balance.
I don't believe this is true. I have the Access America Checking with about $100 in it and I don't have any DD going into it. If you want interest DD is required, but I have yet to be charged any kind of account fee.
Correct. I have an access America account at $250 and never had a fee charged to me. As alway YMMV
their fine print from what I understand is what @SouthJamaica said
that's why I never had one because it's not a truly free checking account