Year round %5 Gas card

[7PM789]

What is the communities opinion on the Penfed platinum cash rewards card?

I had my sights set on the Penfed platinum rewards card but since they nerfed that I'm leaning towards the latter to obtain a year round %5 gas card. . .

Any downsides that I may be unaware of?

[Open123]

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@7PM789 wrote:
Any downsides that I may be unaware of?

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Use it exclusively for gas, and nothing else.  Then, it's a good card.  Otherwise, the Fort Knox one is better.

[7PM789]

Fort Knox?

[Open123]

Fort Knox Credit Union Visa - 5% on gas and 1% everything else (used to be 1.25%).

[7PM789]

I've never heard of that credit union before, do you have a link to the cards t/c?

[Open123]

http://www.fkfcu.org/visa.html

The Platinum one.  

[databender]

AmEx has some good cashback cards that include gas, but not quite at 5%.
Costco TrueEarnings AmEx gets you 3%, but the business version gets you 4% back. TE is also the only card that gets you >1% at Costco gas.
AmEx Blue Cash Preferred gets you 3% back on gas as well.

[Open123]

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@databender wrote:

AmEx has some good cashback cards that include gas, but not quite at 5%.
Costco TrueEarnings AmEx gets you 3%, but the business version gets you 4% back. TE is also the only card that gets you >1% at Costco gas.
AmEx Blue Cash Preferred gets you 3% back on gas as well.

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Good cards!  

However, I prefer 5% without restriction, such as *only* at Costco and *only* with a membership.

[databender]

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@Open123 wrote:

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@databender wrote:

AmEx has some good cashback cards that include gas, but not quite at 5%.
Costco TrueEarnings AmEx gets you 3%, but the business version gets you 4% back. TE is also the only card that gets you >1% at Costco gas.
AmEx Blue Cash Preferred gets you 3% back on gas as well.

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Good cards!  

However, I prefer 5% without restriction, such as *only* at Costco and *only* with a membership.

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TE gives you cashback for all stand-alone gas stations, including but not limited to costco gas. I do not beleive there is another card that counts costco as a stand-alone gas station. You do need a costco membership for TE, but there is no AF as long as you keep the membership renewed every year.

[sengpatt]

Be aware that technically you can only use your rewards at Costco as well. There have been reports of people simply cashing out their rewards at a Costco customer service desk, but I don't know if this is a universal policy.