cancel
Showing results for 
Search instead for 
Did you mean: 

Penfed unreasonable terms for their cash back card?

tag
longtimelurker
Epic Contributor

Re: Penfed unreasonable terms for their cash back card?


@UpperNwGuy wrote:

I have nine credit cards, and the PenFed Power Cash is my absolute favorite of them all and sees the most use.  I use it for all kinds of transactions, including Apple Pay and PayPal.  I've never had a problem, so I feel confident in saying that there is nothing unreasonable about their terms and conditions.

 

I have never used Plastiq nor have I purchased gift cards, so I can't comment on those types of transactions.


Yes, but......   There have been several examples (many from Amex) of issuers "tightening up" which often means suddenly enforcing things that already existed (e.g. airline credits only being for incidentals, not fares, not gift cards).   So having currently unenforced terms in terms and conditions isn't a good (or even neutral) thing.   I would really want to know what they meant by bill pay in this case

Message 11 of 12
Dalmus
Valued Contributor

Re: Penfed unreasonable terms for their cash back card?


@longtimelurker wrote:

@UpperNwGuy wrote:

I have nine credit cards, and the PenFed Power Cash is my absolute favorite of them all and sees the most use.  I use it for all kinds of transactions, including Apple Pay and PayPal.  I've never had a problem, so I feel confident in saying that there is nothing unreasonable about their terms and conditions.

 

I have never used Plastiq nor have I purchased gift cards, so I can't comment on those types of transactions.


Yes, but......   There have been several examples (many from Amex) of issuers "tightening up" which often means suddenly enforcing things that already existed (e.g. airline credits only being for incidentals, not fares, not gift cards).   So having currently unenforced terms in terms and conditions isn't a good (or even neutral) thing.   I would really want to know what they meant by bill pay in this case


It probably requires a call or SM to PenFed for the definitive answer.

 

But in my mind, Bill Pay, when being talked about by a financial institution, refers to the service THEY provide.  For instance, if you tell PenFed you want them to send a payment on your behalf to, say, pay your auto loan installment.

NFCU MR: $25K | Venture: $21K | Amex ED: $18K | NFCU CR: $18K | Amex BCE: $15K | IT #1: $17.5K | PNC Core: $15K | PPMC:  $12K | Wells Fargo: $11K | Savor: 12K | Cap1 QS: $8.5K | Barclays Rewards: $7.75K | IT #2: $7.3K | MLife: $9.5K | Sportsman's Guide: $8.7K | PenFed PR: $5.5K | Elan Plat: $2.3K | TRV: $3.6K | BotW: $3K


Current FICO 8 Scores: EQ: 828| TU: 805 | EX: 814


Message 12 of 12
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.