Just called penfed and reached a CSR who appeared to be unusually well-informed on the credit cards. Confirmed a few things:
-Both my and Ms. DH's Platinum Rewards cards were *not* converted to signature cards, even tho we received no email or letter confirming the opt-out email I sent months back. YMMV of course.
-Now that the conversion period has passed, officially you cannot simply request a conversion *from* non-signature *to* the signature flavor of the card. That would require a new application.
-If an AU on a card qualifies for the 5/3/1 rewards structure (due to a closed-end loan, Dir Deposit, etc.), then that card also qualifies. So some FWF folks whose spouses have car loans may want to make them AUs to keep this rewards structure.
-There are no plans to discontinue the 5/3/1 rewards structure on non-signature rewards cards at this time.
Thanks FWFfollower for the catch on the new benefits page.
Great, thanks, DH. Just as a data point: I have two Platinum Rewards cards, had requested that one be made chip&pin. The C&P card was not converted, the other one was, and I just received the new card, with vertical formatting, no embossing, and "for electronic use only."
brettdoyle said: What exactly do they mean by closed end loan? The balance cannot increase?http://www.investopedia.com/terms/c/closed_end_credit.asp "Most real estate and auto loans are closed-end credit, while credit cards and home-equity lines of credit are open-end or revolving lines of credit."
Anybody have any luck reverting from the new Signature card back to the previous Platinum card?
I was oblivious to this change and missed the opt-out period. I received the new Signature card yesterday and activated it thinking my old one was near expiration and this was just an updated card. I called to try to revert it back but no luck =(
I emailed them and got a confirmation that they are honoring my request NOT to convert my card; yet I got the signature cards in the mail last week; Now they are saying that if I need to go back to my old cards, I will get a new card # and lose my history with Penferd.
mansa said: I emailed them and got a confirmation that they are honoring my request NOT to convert my card; yet I got the signature cards in the mail last week; Now they are saying that if I need to go back to my old cards, I will get a new card # and lose my history with Penferd.
Any ideas as to how I can resolve this?
That's pretty much how it works. I convereted from cash rewards to platinum rewards for the sign up bonus a couple years back. wanted to go back to the cash card, so they gave me a new account with new card number. not a big deal.
lawadvocate said: I read through this entire thread but it's not clear whether, as a new cardmember, you can qualify for a 3% grocery CashBack card. Does it still exist?
Seeing that if you go to website, click Products, click Visa Signature Platinum, and right there you can apply for the card with 5/3/1 through 12/31/2013, I would say yes. But seems too easy to have truly been your question, right? Right?!?
You are posting about the Platinum CASH Rewards card in a thread about the Platinum Rewards Signature upgrade. Two completely different products. The changes to the PenFed Cash Rewards card, including ways (e.g. certificates, money market accounts, etc). to keep the 5% on that card have been well documented in the thread Changes to PenFed Cash Rewards.
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