penfed users

Discuss the Visa & MasterCard payment networks as well as cards that operate through them.
5 posts
FutureBillionaire
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Joined: Sun Jun 19, 2011 2:37 pm
Location: Down South

penfed users

Postby FutureBillionaire » Sat Sep 07, 2013 11:37 am

So, how is everyone faring with penfed nowadays? They've nerfed the cards a bit, and it looks like they are trying to nerf them even more. I had a Platinum Cash rewards and a Platinum rewards, but I migrated the former to another Platinum rewards card. I've been told I can keep my 5/3/1 rewards structure, but I'm not sure.

The lady mentioned that they sent out info and asked for people to opt out/in, but I never received anything like that.

What's the deal for everyone else?
Gas: Discover It, Penfed Platinum Rewards x2, Chase freedom, Citi TYP
Plane tickets: CSP
Groceries: AMEX BCP, Penfed Platinum Rewards,Citi TYP
Clothes: Express, Amex BCP, Discover IT
Amazon: Citi Forward, Cash +
Restaurants: Citi Forward, Chase Freedom, Discover IT, CSP
Hotels and other travel: Discover Escape, CSP
Movies: BofA travel rewards visa signature(fandango), Discover IT, Citi Forward, Freedom
Bars, clubs, tomfoolery: CSP, Citi Forward, Discover IT, Freedom
Balance transfers: Kroger 123 rewards
Bill Pay: Chase Ink Plus, Citi Forward
Everyday spending: Bofa Accelerated cash rewards amex, Discover Escape


cashback
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Posts: 793
Joined: Mon Oct 22, 2012 7:11 pm
Location: NY

Postby cashback » Sat Sep 07, 2013 1:41 pm

Havent called. Plan on putting it in the sock drawer.
Credit Cards
Amex BCE 25K ---- PenFed Platinum Rewards 15.5K --- US Bank Cash+ 12K --- Discover IT 6K --- Citi Dividend 5K --- Chase Freedom 12.5K --- Amex SPG 6K --- Citi Thank You Preferred 15K

Not Used
Citi Simplicity - 5K, Sam's Club Discover - 10K

Future Cards
Sallie Mae World Mastercard

FICOs
Exp 772 - TU 781 - Equ 781

FutureBillionaire
Centurion Member
Centurion Member
 
Posts: 1589
Joined: Sun Jun 19, 2011 2:37 pm
Location: Down South

Postby FutureBillionaire » Sat Sep 07, 2013 3:03 pm

It's such a good card. Now that I've ramped up my grocery spending, I can earn cash back instead of just points for travel. I wish I would have used more sooner.
Gas: Discover It, Penfed Platinum Rewards x2, Chase freedom, Citi TYP
Plane tickets: CSP
Groceries: AMEX BCP, Penfed Platinum Rewards,Citi TYP
Clothes: Express, Amex BCP, Discover IT
Amazon: Citi Forward, Cash +
Restaurants: Citi Forward, Chase Freedom, Discover IT, CSP
Hotels and other travel: Discover Escape, CSP
Movies: BofA travel rewards visa signature(fandango), Discover IT, Citi Forward, Freedom
Bars, clubs, tomfoolery: CSP, Citi Forward, Discover IT, Freedom
Balance transfers: Kroger 123 rewards
Bill Pay: Chase Ink Plus, Citi Forward
Everyday spending: Bofa Accelerated cash rewards amex, Discover Escape

takeshi
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Posts: 1733
Joined: Wed Jun 05, 2013 3:12 pm
Location: US

Postby takeshi » Mon Sep 09, 2013 9:06 am

Sounds like some are getting email about changes to the cash rewards card (looks like an AF unless the cardholder has other qualifying PenFed products) but I haven't received anything yet. Still using it as I have for gas.

Crashem
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Posts: 538
Joined: Fri Mar 09, 2012 9:29 am
Location: San Francisco, CA

Postby Crashem » Thu Sep 12, 2013 1:34 am

Cash Rewards is the one getting the AF. Platinum Rewards is still no AF. I have the 5/3/1 Plat Rewards. The only nerf to that card is the increase in points needed to get rewards. Makes the card more of a 4ish%/2.5%/.75% card.

I don't blame them for changing money losing cards, but I really think they are somewhat to blame. Additionally, their method of informing their customers is terrible as well. What do I mean by they are to blame? Why change your Cash Rewards card to a 5%/.25% card. Pretty much guarantees that the card will only be used for Gas and nothing else which just makes things worse for them. As for the Plat Rewards, it was my primary gas card and I used for a variety of other things probably getting 1.75% rewards across all purchases. Now with the points nerf, I am putting non gas purchases on other cards.
Amex Centurion, Amex Platinum, Amex BCP 8k->24k (5/23/12), Amex TE 15k, Cap One 1.5% 15k->20k (8/7/13), CSP 25k, Chase Palladium 100k, Citibank AA 35k (AU), Firestone 1.8k->2.2k->2.4k (8/20/12), JFCU Jloc 30k, PenFed Plat Rewards 30k, SF Fire 30k, US Bank Cash+ 25k



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