National Penn Bank credit card worth 1.25% cash back?

For just about anything you want to get off your chest about credit cards.
6 posts
dogbruiser
 
Posts: 2
Joined: Fri Jul 12, 2013 3:44 pm
Location: NE

National Penn Bank credit card worth 1.25% cash back?

Postby dogbruiser » Fri Jul 12, 2013 4:04 pm

Unsure if you guys are familiar with National Penn Bank but they have some reward credit cards but they come from a third-party company called Elan.

This is the one I have. Excuse the shoddy formatting I am copying and pasting this info.

Visa Signature® Bonus Rewards Card

  • Earn 1 point for every $1 in net purchases
  • Automatically receive a 25% bonus on the points you earn each month
  • There is no limit to how many points you can earn.
  • Points remain valid for 5 years from the date they are earned.
  • $25 cash back after first purchase made with your National Penn Bank credit card.
  • There is no annual fee.
1.25% is pretty competitive right, because most of the credit cards I see advertised by the big banks only give 1% outside of any categories. Feedback?


DavidNY
Centurion Member
Centurion Member
 
Posts: 1332
Joined: Tue Jul 05, 2011 12:28 pm
Location: New York

Postby DavidNY » Fri Jul 12, 2013 4:58 pm

Fidelity Amex gives 2% everywhere.

User avatar
bisbicos
Centurion Member
Centurion Member
 
Posts: 284
Joined: Sun Jul 17, 2011 12:38 am
Location: Newton, MA

Postby bisbicos » Fri Jul 12, 2013 7:52 pm

I love my fidelity Amex. Why don't more ppl have this card?
Credit Cards
American Express: Fidelity Rewards (2% cash back) 9.5k
Zync NPSL
Discover: Discover More (5% rotating categories) 12k
Mastercard: Chase Freedom (5% rotating categories) 4.6k
Visa: Citi Forward (5x pts on restaurants) 15.7k
Citi Dividend (5% rotating categories) 5.6
Capital One Journey (1.25% cash back) 1.25k
BofA AAA (5% on gas) 2.5k
PenFed Platinum Rewards (5% on gas 3% groceries) 7.5k

Future Cards
US Bank Cash +
Chase Ink


Sevenfeet
Centurion Member
Centurion Member
 
Posts: 532
Joined: Thu Jan 17, 2013 7:20 pm
Location: United States

Postby Sevenfeet » Fri Jul 12, 2013 10:22 pm

bisbicos wrote:I love my fidelity Amex. Why don't more ppl have this card?


That's an interesting question. Personally I think the card isn't marketed well on many levels. And that begins with how many people engage with Fidelity regularly.

Some months ago before I got my card, I walked into a Fidelity office wanting some more information on the Fidelity Amex card. One thing I found out quickly was that Fidelity offices aren't set up to discuss your portfolio if your Fidelity account is a 401K account from your employer. If you come into their offices with a check to open a new account, or an IRA to roll over, they can help you...but not if they are servicing someone else's 401K. Second, their account reps aren't trained on their credit card products and know little, if anything about them. This stunned me....seriously guys, you aren't up to speed on all things Fidelity your customers might want to purchase? Seriously?

So that leaves online, which is where most Fidelity Visa/Amex customers see the product while surfing checking out their Fidelity account. Since you have to have a Fidelity account anyway to sign up for the card, you have to be in the Fidelity family anyway but I see that as a missed opportunity since you could promote the card to potential Fidelity customers as a reason to use them for your brokerage needs. And I don't see really much marketing for the card that makes the pitch that 2% cash back is really rare in the industry and something that a potential customer might really want to use.

Finally, the Fidelity Amex card is easily one of the drabbest, most boring looking cards in my wallet. Some credit cards are pursued by work of mouth...i.e., you see a friend pull it out and you ask about it. The Fidelity card, with its matte finish and drab colors looks like a bargain basement product.
Cards:
American Express Platinum (NPSL)
Penfed Platinum Reward Visa ($28K)
Chase Freedom Visa ($25K)
Fidelity American Express ($20K)
American Express Blue Cash Preferred ($20K)
Bank of America Cash Rewards MasterCard ($20K)
Citi Thank You Preferred Visa ($9.5K)
Chase Sapphire Preferred ($7.5K)
US Bank Cash + Visa Signature ($7K)
Discover IT ($4K)

dogbruiser
 
Posts: 2
Joined: Fri Jul 12, 2013 3:44 pm
Location: NE

Postby dogbruiser » Sat Jul 13, 2013 12:06 pm

Guys, I appreciate the suggestion but you have seem to go OT about Fidelity. Sorry but I am not interested in opening a Fidelity acct in order to get their credit card. I have too many bank accounts and broker accounts already. For 1.25% should I stick with the National Penn Bank Visa card as my best option? FYI I don't want travel rewards.

Robrus1
Centurion Member
Centurion Member
 
Posts: 797
Joined: Tue Oct 02, 2012 3:25 pm
Location: Texas

Postby Robrus1 » Sat Jul 13, 2013 1:38 pm

dogbruiser wrote:Guys, I appreciate the suggestion but you have seem to go OT about Fidelity. Sorry but I am not interested in opening a Fidelity acct in order to get their credit card. I have too many bank accounts and broker accounts already. For 1.25% should I stick with the National Penn Bank Visa card as my best option? FYI I don't want travel rewards.


If you're asking if that's the best card for you, that's really up to you to decide. It just depends on what you spend money on. I use a combination of cards to consistently get at least 2% back. I spend a lot on groceries and a bit on gas so I have an Amex Blue Cash Preferred that gives me 6% back on groceries, 3% back on gas, and those are the only two things I use it for. Chase Sapphire Preffered gives me 2X points on dining, and that's mostly what I use it for. I suppose the card you're asking about is an ok rewards card if you just want to use one card for everything, but depending on what you spend your money on and how much you spend, you could potentially get quite a bit more back than just 1.25% by using more than one card. Discover it and Chase Freedom have no annual fees and have rotating 5% categories, and both are good cards. Amex Blue Cash Everyday is also a great no annual fee card.
Amex Platinum
Amex BCP 21K
Amex SPG 5K
Barclaycard Arrival Plus WEMC 5K
Chase Sapphire Preferred 23.5K
Credit Union 10K
Discover IT 7.75K



Return to “General Credit Card Talk”

Who is online

Users browsing this forum: AMEXPlatino86, Yahoo [Bot] and 0 guests