Woodalls Open Roads Forum: PenFed "free" 5% Fuel Cash Back Ending
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 > PenFed "free" 5% Fuel Cash Back Ending

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CA Traveler

The Western States

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Posted: 09/30/13 01:00pm Link  |  Quote  |  Print  |  Notify Moderator

Per their website this ends with the October billing. So I called and it's actually changing. %5 if you have another qualifying account, or 3% and $25 annual charge. If you have a PenFed card you might want to call and see what if any changes apply to you.

We really liked getting 5% cash back this summer in the US and Canada so hate to see the changes. Just a heads up.


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louiskathy

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Posted: 10/01/13 12:21am Link  |  Quote  |  Print  |  Notify Moderator

We got the same email.. it said that we needed to pay a $25 yearly fee to keep getting the 5% deal on the fuel purchases.

I called them and found out that if you have an employer and start a minimum of $250 direct deposit a month into your Pen-Fed acct, they won't charge a yearly fee and will keep giving you 5% on fuel purchases.

You can also do a Money Market CD with them for $1000.
6 month pays .3% and 1 year pays .5%
that will move you into a status that eliminates the $25 yearly fee and keeps the 5% on gas purchases.


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jimjr

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Posted: 10/01/13 06:16pm Link  |  Quote  |  Print  |  Notify Moderator

I have received no e-mail and can find nothing on the Pen Fed site that talks about an annual fee. I'll call tomorrow to see if the account gets cancelled (by me) or not.


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CA Traveler

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Posted: 10/01/13 06:22pm Link  |  Quote  |  Print  |  Notify Moderator

jimjr wrote:

I have received no e-mail and can find nothing on the Pen Fed site that talks about an annual fee. I'll call tomorrow to see if the account gets cancelled (by me) or not.
Drill down on the ** and you'll find that it's a limited time offer through October. That prompted me to call and I was told "it's not cancelled, just changing". Please post what you find out.

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Posted: 10/01/13 07:00pm Link  |  Quote  |  Print  |  Notify Moderator

PenFed sent us an e-mail sometime back about card use policy changes.





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Posted: 10/01/13 07:19pm Link  |  Quote  |  Print  |  Notify Moderator

BTW We received significant cash back with PenFed this summer with our Alaskan trip. ie With the very high Canadian fuel prices what's not to like about 5% cash back? But life moves on and while we have AmEx alternatives for the US they are worthless in Canada due to their transaction fees.

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Posted: 10/01/13 07:55pm Link  |  Quote  |  Print  |  Notify Moderator

Thats_Ok wrote:

PenFed sent us an e-mail sometime back about card use policy changes.


x2. Info came in the mail about 6 weeks ago, plenty of advanced notice.

after reading the info and calling here is my understanding.

If you alredy have a Pen Fed gas card.
depending on what other pen fed accounts you have, you'll either end up with a $25 annual fee on your anniversary date and 3% cash back or no fee and 5% cash back.

If you have only the visa card, you'll pay the $25/year and get 3% on gas beginning end of october.

If you also have qualifying other accounts, you will continue to get 5% and no annual fee

If you have only the visa card AND open a direct deposit checking, CD, money market,loan etc. then you'll continue to get the 5% and no annual fee. I think (not positive) you need to open such an account by the end of October.

If you DON"T have a pen fed card and apply in October.
If you open another account at the same time you get the 5% no fee otherwise you'll get the 3% and pay $25/year

Existing cardholders will get the 5% through most of october.

the gas credit payout process remains the same. they will continue to credit your account prior to sending out your monthly bill.

Seems like card companies are adding restrictions or cutting back on card benefits. One other card I have that gave double points for certain cardholders with other qualifying accounts recently stopped that practice, now I only get the "regular" points.

Even at 3% and 25/year the pen fed gas card is still IMHO one of the best fuel cards around. Diesel qualifies (which some others don't), no monthly or annual limit on fuel purchases, not tied to any specific stations etc.


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LBL 1206

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Posted: 10/01/13 09:00pm Link  |  Quote  |  Print  |  Notify Moderator

USAA still gives discount on gas w/their Visa card.
no annual fees...





pnichols

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Posted: 10/02/13 12:57am Link  |  Quote  |  Print  |  Notify Moderator

LBL 1206 wrote:

USAA still gives discount on gas w/their Visa card.


What is the gas discount amount that USAA gives?


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az99

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Posted: 10/02/13 06:14am Link  |  Quote  |  Print  |  Notify Moderator

I posted about this a few weeks ago but a moderator moved it to some area no one reads. This IS a general RV issue as many of us use this card.

Are any of you aware that as of 8/16/13 Pen Fed has changed (without notice) their point redemption amounts. Now to get a $50 Visa reward card you are charged 5,900 points.That is an immediate loss of 18% of your points.

I just finished talking to a CS supervisor and voiced my extreme dissatisfaction at the new unannounced changes. She said they got no advance notice either. They will not even give you the points you earned prior to the change without the 18% loss.

So now you really get 4.1% on fuel and 2.1% on groceries and darn near nothing on other purchases.

This is just out and out deception of their customers. If they need to change the program, tell us 4% gas 2% groceries. Don't take an additional 18% for redemption and make it sound like your getting more points. Then add their new $1.00 charge for not doing your statement online.

I used to praise this company but this is JUST PLAIN WRONG!!!!

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