Comments on: Penfed Visa Platinum Cashback Rewards Card – 5% Cash Back on Gas

By: Tyrone Biggums

Tyrone Biggums — Wed, 01 Jun 2011 13:22:26 +0000

Charles McKeldin- I just read your story and feel very sorry for you. I just mailed you a $500 check. Enjoy!

By: PJ

PJ — Wed, 01 Jun 2011 11:49:28 +0000

Just an update- the PennFed card does NOT give 2% on supermarket purchases (may have when this blog entry was published, does not today- I just called). It still works out better for us, so I am going to go ahead with the application.

By: Jonathan

Jonathan — Sat, 21 May 2011 18:33:45 +0000

@Charles – Um… you do realize that I am not BP, right? This is a personal website that has no affiliation with BP whatsoever.

By: Charles McKeldin

Charles McKeldin — Sat, 21 May 2011 17:07:26 +0000

You still owe me a $10.00 reward card. I received my first one but never received my second one, I have stopped using BP because I can not seem to get a response from BP. I was purchasing about $65.00 a day in Fuel for Jobsite. I have sent many of emails and comments. I guess I will bug the 1-800 number. After reading the comment on this page and several others I am beginning to think your company is a scam artist. I want my $10.00 reward card that is due me. Charles McKeldin 521 south 7th street Fernandina Beach FL 32034. How about an RSVP just for something new.

By: My Personal Finance Journey

My Personal Finance Journey — Tue, 25 Jan 2011 18:46:29 +0000

I use the BP Chase Credit Card. No annual fee, and 5% cash back for all purchases (gas or other items) at BP gas stations.

By: Christian

Christian — Tue, 21 Dec 2010 13:18:32 +0000

Deputy, thanks for the head up. I just signed up for this card. I like PenFed a lot, but I think I will take my sign-up bonuses and run. I don’t reward crappy products, I exploit them for all they can legally/ethically do for me and then I discard them.

By: Deputy

Deputy — Mon, 20 Dec 2010 21:21:09 +0000

BEWARE PenFed AmEx Travel Card. Yes its easy to accumulate points. Its quite another matter to redeem them. The people at the company they hired are rude and not helpful. I’ve been trying for a week to obtain plane tickets. They told me they are forbidden to talk to customers about plane tickets. I have been told repeatedly “there is no help available”. Wish I’d gotten a cash back card.

By: Jill

Jill — Tue, 22 Jun 2010 19:59:48 +0000

Amex Blue offers 5% back on gas and 1.25% on other items. Not all places take Amex, but most gas stations do.

By: Mike

Mike — Sat, 19 Jun 2010 10:15:51 +0000

I just checked the Pen Fed disclosures on their Visa Platinum Cash rewards card, and it says there is a 2% foreign transaction fee.

By: Kris

Kris — Fri, 18 Jun 2010 13:56:56 +0000

I got this card back February and really like the rewards. I see the rebate credited to my account each period.

There are two ways to pay for the card. You can either pay the card directly by linking it to your external checking, or you can transfer money to your PenFed checking and then pay the card (which I prefer, more of a money trail).

The only problem I have with this is that since I only use PenFed for the card and not a bank (no local branches), I have to resort to depositing via ACH. And, for some reason, my daily limit for ACH transactions is $50.

By: Don

Don — Thu, 17 Jun 2010 17:57:52 +0000

Once in awhile I respond to the latest offer for a particular card that might help out my finances. Lately they are all turning me down. I know my credit score and have gotten the complete record. Funny, but they are good, but the turndown that upset me was one from Fidelity AMEX saying that I sufficient credit from others and I was late one time. Now, with all the confusion of electronic payment, user names, passwords, URLs, and the rest of the electronic world, I am hoping that eventually I will need nothing except a credit card for those that won’t take cash and the cash that otherwise would be tied up in e- this and that. My final credit card payment will be for prepaid funeral expenses and then I will be happy. No more credit cards or other accounts to get me into dept! Hurrah!

PS: If I ever tried to figure out what credit card was better for what spending, I would truly go berserk. Sometimes simplifying life is a better route to take, but I have not quite reached nirvana.

By: Christian

Christian — Sun, 13 Jun 2010 01:32:19 +0000

I love this credit card. The customer service at PenFed is the best I have received. They often tell me that its fine if I am a few days late in making my payment. The website now lets you schedule payments (before it only allowed immediate payments) and they can link quickly to any US checking or savings account.

Also PenFed does not charge any foreign transaction fees, but Visa does slap a 1% free on there, but hey, when you get 1.25% back then you are still making money by buying abroad.

This card keeps me from gassing up at Costco because after the 5% discount gas is cheaper elsewhere. But I do wonder if gassing up at Safeway gas station counts for the full 5%?

By: SteveW

SteveW — Fri, 11 Jun 2010 15:55:38 +0000

Do credit card paper statements cost $0.50/statement?

By: john

john — Fri, 11 Jun 2010 15:43:53 +0000

Do you if non US citizens can apply for this card ? I am a US resident.

By: tj

tj — Fri, 11 Jun 2010 03:57:39 +0000

Also, many are reporting that PenFed has a “Summer Bonus” on their June statements which is 3% back on Electronics and Home Improvement…

By: tj

tj — Fri, 11 Jun 2010 03:57:08 +0000

Doesnt PenFed have its own Geico discounts? (as well as Liberty Mutual)

By: Jonathan

Jonathan — Thu, 10 Jun 2010 23:31:45 +0000

It’s a $20 annual fee to stay a member of the NMFA. You just have to be a member of the NMFA *when* you join Penfed. Your future Penfed membership is then independent of whether you renew your NMFA membership.

I’ve been a PenFed member for a few years now, with no need to renew. NMFA does offer GEICO discounts that can be worth the $20 if you use them.

By: Kevin

Kevin — Thu, 10 Jun 2010 23:28:01 +0000

It says it’s a $20 ANNUAL feel, didn’t say ONE time…

By: Jonathan

Jonathan — Thu, 10 Jun 2010 23:15:33 +0000

@SteveW – You have to leave the $5 in the share account as long as you are a credit union member. In theory, you are keeping money in some sort of pool that “credit union” members can borrow from. It can be withdrawn later if you decide to leave later on.

By: SteveW

SteveW — Thu, 10 Jun 2010 22:24:39 +0000

It says before starting the application that you must “Open a Regular Share Account with at least $5″. Do i have to leave that money with them for as long as I use the card, or can I withdraw it after I get accepted?

By: Adam

Adam — Thu, 10 Jun 2010 20:24:20 +0000

@Jonathan
Funny thing… their website is brand new, actually. They just updated it a couple weeks ago.

I have a share account and was approved for the card. I’m just waiting to receive it in the mail.

It’s definitely a “mom & pop” type of credit union. Opening an account and applying for the card involved sending in paper forms and a couple of phone calls. But the customer service is very friendly. There’s a good thread on FatWallet about this card if you’re looking for more info.

By: Jonathan

Jonathan — Thu, 10 Jun 2010 20:10:09 +0000

@Adam – Nice find. Do you have this card? What do you think? I wish their website was better, but it does appear that you can join for only $10 and a $5 share savings deposit.

@Nuri – Yep, it’s the 2nd card on the bottom. Added some clarification to the post.

@Ryan – If you click on the application link for the card, they will guide you through membership process. It’s integrated.

@TL – Only the 0.01 will qualify for in your example for 5%. Here’s a pretty chart I put together that shows how the average gas cashback changes with Blue Cash depending on your charge amounts.

http://www.mymoneyblog.com/arc.....-back.html

By: TL

TL — Thu, 10 Jun 2010 19:02:12 +0000

Informer, for the AMEX Blue Cash, if I spent $6500.01 in gas & groceries a year, do I get 5% rebate of the $6500.01? Or is just the $0.01 qualified for the 5% rebate?

By: Ryan

Ryan — Thu, 10 Jun 2010 17:12:41 +0000

Do you signup for NMFA first separately then PenFed or does the PenFed application go through the process of NMFA?

By: Nuri

Nuri — Thu, 10 Jun 2010 15:36:04 +0000

I clicked on the link, and i didnt see 5% back for gas, i saw it back for air travel.

is the link correct?

edit: never mind, i found it, its the second credit card listed, and its not bullet-ed as obviously as the first CC