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Rewards program to be handled by PenFed (or so it seems); $50 annual fee (waived first year), 20,000 bonus points after $650 in purchases on the card.

Member Summary
Most Recent Posts
A little bit of activity is needed or you lose online access, and eventually the state gets your money.

Send them a dolla... (more)

ProfessorEd (Apr. 26, 2010 @ 12:24p) |

any experience trying to redeem for travel?I got the mailer today, in which they claim a $395.40 Expedia ticket would co... (more)

psychtobe (May. 09, 2010 @ 1:07a) |

1st annual fee $50 is waived, but does anyone been with them for more than a year? Curious if you cancelled the credit c... (more)

idonidont (May. 24, 2010 @ 4:54p) |

List of rewards posted in another Thread
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General Overview:
* Earn 5 points per dollar spent on airfare purchases.
* Earn 3 points per dollar spent on hotel stays and purchases made at restaurants until December 31, 2010.
* Earn one point for virtually every dollar you spend on all other purchases.
* There is no limit to the number of points you can earn.


Looks like gift cards are at a 1% exchange rate ($100 gift card for 10,000 points).

I am not impressed.

The 5 points for airfare is great for business travelers that book their own flights.
The priority pass membership is nice too, except they have too much detail on that.
EDIT: Looks like the priority pass is 2 free visits per year.

Fidelity AMEX is better. 2% Cash Back.

20,000 points = $200 sign up bonus isn't too bad if you don't mind the hard inquiry.

20,000 points also = free airfare.

Remember Penfed is really picky, don't apply without pristine credit.

Wouldn't allow a conversion.
Requires a new app.
Minimum CL on their AMEX card is 5K.

Just applied, approved for the $5k limit I asked for, easy 20,000 points!

Anyone knows which credit bureau it is pulling? Usually AMEX pulls Experian for me (in California), but Penfed pulls Equifax for me before for HELOC.

This might be worth unfreezing my credit reports for!

20,000 bonus point...link please?

Cheapoking said: 20,000 bonus point...link please?

link

Excellent. Thanks much dude.

I so need to get my account at Penfed setup. I'm a member, but never got a pin. Gah!

Woohoo, got one! Thanks OP

does it look better than citi ppe card with $75 annual fee ?
btw here is linky for more detail on penfed AMEX

can AU get the pass?

I'd be interested to see the details on the travel insurance, etc.

DutchDutch said: I'd be interested to see the details on the travel insurance, etc.

I was wondering the same thing - hopefully someone who was approved can update once they get more info by mail about T&C and benefits.

What is unclear to me is if you get membership in priority Pass or not. You gettwo free entrances but can you get a paid third entry as you do with the Citi AMEX?

Moosy said: What is unclear to me is if you get membership in priority Pass or not. You gettwo free entrances but can you get a paid third entry as you do with the Citi AMEX?
It looks like the $99/year standard membership ($27/visit/person for members and guests), but they throw in 2 free passes for the member to sweeten the deal a bit.

kingston said: The 5 points for airfare is great for business travelers that book their own flights.

He or she would probably already have their preferred carrier's affinity card and get double or triple miles for using it when booking flights.

Spoke with Penfed this morning, 11/17/09. To open a new Pendfed AMEX account individuals are still limited to $50,000 max credit across all unsecured credit lines. With a 10K and 40K line, I would need to close or reduce an existing line to open this new account. Has anyone been able to go above 50K with Penfed? Does any on think its worth reducing one of my lines to open this new account?

Thanks OP. Approved 7K.

applied, said to check back in 24 hours...hope that's not a bad sign.

Discplayer said: Spoke with Penfed this morning, 11/17/09. To open a new Pendfed AMEX account individuals are still limited to $50,000 max credit across all unsecured credit lines. With a 10K and 40K line, I would need to close or reduce an existing line to open this new account. Has anyone been able to go above 50K with Penfed? Does any on think its worth reducing one of my lines to open this new account?Even if they would go above 50K they might require special provsions - copy of 1040, etc. - PITA & privacy issues. Why not request a CL of only 1K on the AMEX (leaving 49K), then later take the 20,000 points = $200 signup bonus & run? Or if you want to use the new AMEX more later on, reallocate.

The only real danger is that in today's environment there's the chance that any credit evaluation may result in reduced CLs on existing lines. I've not heard anywhere that PenFed (specifically, Penfed) does this - has anyone else?

I got my PenFed line reduced by $1K due to balances owed on other accounts. They probably would've done more, but the PenFed was nearly maxxed out and $1K was the most they could lower by (fortunately).

I've had the card for 4 years as well as a mortgage and HEL with PenFed with nary a late payment on this or any other account.

Actually, a lot of cards have taken AA against me lately due to balances. Been charging a lot of wedding expenses.

fw9999 said: Discplayer said: Spoke with Penfed this morning, 11/17/09. To open a new Pendfed AMEX account individuals are still limited to $50,000 max credit across all unsecured credit lines. With a 10K and 40K line, I would need to close or reduce an existing line to open this new account. Has anyone been able to go above 50K with Penfed? Does any on think its worth reducing one of my lines to open this new account?Even if they would go above 50K they might require special provsions - copy of 1040, etc. - PITA & privacy issues. Why not request a CL of only 1K on the AMEX (leaving 49K), then later take the 20,000 points = $200 signup bonus & run? Or if you want to use the new AMEX more later on, reallocate.

The only real danger is that in today's environment there's the chance that any credit evaluation may result in reduced CLs on existing lines. I've not heard anywhere that PenFed (specifically, Penfed) does this - has anyone else?

Apparently there is a 5k minimum limit requirement for the AMEX.

studiddy said: kingston said: The 5 points for airfare is great for business travelers that book their own flights.

He or she would probably already have their preferred carrier's affinity card and get double or triple miles for using it when booking flights.

Unless he or she doesn't want miles, and would rather get cash equivalents at 5% rate.

Got turned down. Had to settle for splitting the existing visa line of 44k. But I don't see any modifications to my credit line yet.

pras

pras said: Got turned down. Had to settle for splitting the existing visa line of 44k. But I don't see any modifications to my credit line yet.

pras


Were you given a choice as to how you wanted the lines split, or is it an automatic 50/50?

Only "until December 31, 2010" for hotels/restaurants; so only real benefit is 5 points/$ on airfare.

Even for airfare only if you spend more than $1667/yr then its more profitable than a 2% Schwab Visa; because of $50 annual fee.

Of course the $200 sign on bonus & no fee first year means its worthwhile for some folks.

what can the points be redeemed for?
can I redeem the 20000 points for $200 gift cards? if, is there a link wher I can see what gift cards they have?

Thanks

pp65us said: what can the points be redeemed for?
can I redeem the 20000 points for $200 gift cards? if, is there a link wher I can see what gift cards they have?

Thanks


There are gift card listed on the site. Just click on the more info button.

Moosy said: What is unclear to me is if you get membership in priority Pass or not. You gettwo free entrances but can you get a paid third entry as you do with the Citi AMEX?

You do receive membership. What is unclear to me is the frequency of the 2 free passes. Is this a one time deal?

Call me a sucker but I for one won't be getting this card simply to milk the $200 free signup and then cancelling. Penfed has been one of the few institutions that has treated us well and I don't want to exploit them. If I do sign up for this card, I will keep it and pay the fee. If the signup is $200 and the fee is $50 then it means I get the card for 5 years without expense.

Penfed gives us the 5% gas card that frequently offers bonus 5% deals for airfare and school purchases. Let's not screw them over.

SoBeyondTheNorm said: pras said: Got turned down. Had to settle for splitting the existing visa line of 44k. But I don't see any modifications to my credit line yet.

pras


Were you given a choice as to how you wanted the lines split, or is it an automatic 50/50?


I was given a choice how to split it

pras

tripleB said: Call me a sucker but I for one won't be getting this card simply to milk the $200 free signup and then cancelling. Penfed has been one of the few institutions that has treated us well and I don't want to exploit them. If I do sign up for this card, I will keep it and pay the fee. If the signup is $200 and the fee is $50 then it means I get the card for 5 years without expense.

Penfed gives us the 5% gas card that frequently offers bonus 5% deals for airfare and school purchases. Let's not screw them over.


I agree with you. If I do get this card, it won't be just to utilize the bonus. I will keep it.

pras said: SoBeyondTheNorm said: pras said: Got turned down. Had to settle for splitting the existing visa line of 44k. But I don't see any modifications to my credit line yet.

pras


Were you given a choice as to how you wanted the lines split, or is it an automatic 50/50?


I was given a choice how to split it

pras


Thanks.

Skipping 37 Messages...
1st annual fee $50 is waived, but does anyone been with them for more than a year? Curious if you cancelled the credit card after a year, is there a charge for cancellation?



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