Year round %5 Gas card

[Anonymous]

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@Anonymous wrote:
Penfed doesn't just have a emv chip, it has chip and PIN. That's right, not just chip and sig. Combined with no forex, you could not ask for more. Another thing, the penfed platinum rewards redemptions are in the form of giftcards mostly, so you miss out on other bonuses when you use them. If you displace 1% back purchases you net 4.95% and 4.9% if you have a 2% back card. The pure gas card is credit on the statement where the charge is, which is always nice and immediate and requires no fuss.

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Yes, if you already have a 3% or better grocery card (and we assume that most here have at least a 1% everything else card) the statement credit from Cash Rewards wins.   But, the 3% is uncapped, and works outside the US (unlike BCE/BCP, which fail both criteria!) so that is valuable to me (for however long that lasts)

[Anonymous]

Is there a chip and pin version of the penfed cash rewards card and if so how do you go about requesting it?

[oscar_actuary]

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@Open123 wrote:

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@Anonymous 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.

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I'm in this habit of not maximizing the benefits, in so much as I'll always throw them a bone if I use it for the 5% categories.  Overall my default is a 2% on everything; nonetheless, if say I use Citi to buy $2k of furniture this quarter for 5%, I'll slip in some trips to Taco Bell on that card as well.

Oh the other hand, am I the only one thinking the OP could get a couple rotating 5% cards and max them out for Gas GCs when possible.

[Open123]

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@oscar_actuary wrote:

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@Open123 wrote:

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@Anonymous 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.

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I'm in this habit of not maximizing the benefits, in so much as I'll always throw them a bone if I use it for the 5% categories.  Overall my default is a 2% on everything; nonetheless, if say I use Citi to buy $2k of furniture this quarter for 5%, I'll slip in some trips to Taco Bell on that card as well.

Oh the other hand, am I the only one thinking the OP could get a couple rotating 5% cards and max them out for Gas GCs when possible.

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Or, in a state like CA, the "cash" price in some gas stations are substantial enough where it's the only time I'll pay cash. These days, I don't even bother with a gas card, and just use cash for the discount.