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Did not find any gift cards I am interested.

Me too - I love PenFed, they're a great institution. I'm slowly transferring all of my accounts over there b/c I like dealing with them so much.

They turned me down for a card quite some time ago, wonder if they will reconsider today.

got denied b/c of high balances (2 recent BT)

but i called and asked if they would split my other penfed visa line in half to open this card and they did. wish this was out a few weeks ago, just dropped >$2k on airfare recently

choe said: got denied b/c of high balances (2 recent BT)

but i called and asked if they would split my other penfed visa line in half to open this card and they did. wish this was out a few weeks ago, just dropped >$2k on airfare recently

What is your utilization percentage across all credit cards?

I agree too, PenFed has been wonderful to us, if I apply I will keep it and not cancel.


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.

choe said: got denied b/c of high balances (2 recent BT)

but i called and asked if they would split my other penfed visa line in half to open this card and they did. wish this was out a few weeks ago, just dropped >$2k on airfare recently


Will they split your PenFed Visa into two PF Visas? I've got a $25K line but $20K is used with 2.99% BT for life but I'd like to use the other $5K of the line for the Visa as a daily spender....

zhsa said: choe said: got denied b/c of high balances (2 recent BT)

but i called and asked if they would split my other penfed visa line in half to open this card and they did. wish this was out a few weeks ago, just dropped >$2k on airfare recently

What is your utilization percentage across all credit cards?


~10%

ltcm said: choe said: got denied b/c of high balances (2 recent BT)

but i called and asked if they would split my other penfed visa line in half to open this card and they did. wish this was out a few weeks ago, just dropped >$2k on airfare recently


Will they split your PenFed Visa into two PF Visas? I've got a $25K line but $20K is used with 2.99% BT for life but I'd like to use the other $5K of the line for the Visa as a daily spender....


I'm sure they can split it however you want, but I believe the minimum credit limit is $5k

I received an invitation from PenFed in the mail to sign up for this card. 20,000 points sounds good, but if you look on their site, you need 42,200 points to get a roundtrip American Airlines ticket. You can get $100 gift cards for 10,000 points, but none of them look particularly useful.

glxpass said: 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.
Pamphlet that came with card says to visit PriorityPass.com/penfedvip to sign up. That site is asking for an invitation code, which is absent from the brochure. Anyone have any ideas?

BrianGa said: glxpass said: 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.
Pamphlet that came with card says to visit PriorityPass.com/penfedvip to sign up. That site is asking for an invitation code, which is absent from the brochure. Anyone have any ideas?

Why not call PenFed and report here what they told you?

I got approved for the $5k minimum.

Kind of funny, because they denied my request last month to increase the limit on my Visa to $5k.

glxpass said: Why not call PenFed and report here what they told you?I will do so if nobody knows the answer. But I would rather not go through that goose chase if someone else already has.

I applied and then read this thread. I did not even notice an annual fee. I don't pay annual fees so, assuming I am approved that'll have to be waived next year as well, or I will cash my rewards and cancel. Too bad, as I like the airfare bonus.

BrianGa said: glxpass said: Why not call PenFed and report here what they told you?I will do so if nobody knows the answer. But I would rather not go through that goose chase if someone else already has.

Called yesterday and CSR said $15,000 charge is required for priority pass membership.

Shel said: Called yesterday and CSR said $15,000 charge is required for priority pass membership.Thanks for calling. That's pretty odd, considering none of the terms mention a spending requirement for that benefit.

Approved for $10,000. Which, I believe, equals the cut they gave me on the visa several months ago. I'm excited by the travel benefits. Hopefully I get to use them.

yeah i called them as well and the CSR agent told me the same thing i need to spend 15k to qualify for the VIP lounge.

professionaltaxpayer said: yeah i called them as well and the CSR agent told me the same thing i need to spend 15k to qualify for the VIP lounge.
Considering that there's eventually an AF for the card and that the Priority Pass membership offered is the cheapest one at $99/year (with IIRC a couple of free passes), IMO this even further lowers the value of the PenFed AM*X card. For some it might still be worth it, but not for me.

Well, there is no way to tell whether they will be inclined to waive the annual fee, is there? I cannot fathom paying for a credit card, no matter what the benefits.

DavidScubadiver said: Well, there is no way to tell whether they will be inclined to waive the annual fee, is there? I cannot fathom paying for a credit card, no matter what the benefits.
I'm sure you're aware that the AF is waived for the first year. I'd doubt they would waive it for subsequent years. In principle, I wouldn't mind paying an AF if the benefits (at least financially) clearly exceeded the AF. To me, the Chase British Airways card, despite its $75 annual fee, was a far better deal. I don't know if my wife and I will keep our cards beyond that first year, but the prospect of 100K BA bonus miles (after meeting the spend requirement) was just too tempting to pass up. I expect the worth of those miles to far exceed the AF.

I look upon my C*stco membership in a similar manner. It's worth the annual renewal fee for me.

I do not consider my Costco Membership to be a credit card. I just do not believe that any credit card offers a benefit that outweighs the fee. 100,000 miles sounds great. If there are no restrictions/blackout dates, and the miles do not expire, than that is worth something to me. But flying with miles always seems to have hassles.

DavidScubadiver said: I do not consider my Costco Membership to be a credit card. I just do not believe that any credit card offers a benefit that outweighs the fee. 100,000 miles sounds great. If there are no restrictions/blackout dates, and the miles do not expire, than that is worth something to me. But flying with miles always seems to have hassles.
Bolding mine. Far be it from me to question someone's belief system. If you consider that statement axiomatic, then there's no persuading you otherwise.

I am always open to persuasion, but I have never really felt that frequent flier miles, even if earned with no fee, were not worth the hassle in redeeming them. I'm sure you do just fine! But really, unless you use those miles in the first year, you will have another annual fee to pay, substantially decreasing the value of the reward. I just cant be that sure of my traveling. Maybe if I were retired and had more time to use the benefit...

DavidScubadiver said: I am always open to persuasion, but I have never really felt that frequent flier miles, even if earned with no fee, were not worth the hassle in redeeming them. I'm sure you do just fine! But really, unless you use those miles in the first year, you will have another annual fee to pay, substantially decreasing the value of the reward. I just cant be that sure of my traveling. Maybe if I were retired and had more time to use the benefit...
Retaining the credit card isn't always a requirement for keeping the miles. I don't know the siutation with PenFed; I believe the British Airways miles last 3 years before they expire, and that the card isn't necessary to keep those miles before that date. It all depends on the specific FF progtram.

ETA; If there is no separate FF program then it's more likely, but not a sure thing that the points could be lost if the card were closed. Regardless, I think it's a good idea to research the details about a specific rewards program before making the decision to apply for the card, assuming such considerations are important to you.

Thanks OP.

F.Y.I. Found this in the "Find Out More" Section on Apply Now page.

Complimentary VIP Membership in Airport Lounges Worldwide.

Cardmembers receive exclusive access to luxury with two free visits to over 600 airport lounges around the globe if eligible. So sit back, relax and refresh. Now your journey can include a welcome touch of luxury even before you reach your destination. Eligible Cardmembers receive membership and two complementary passes to over 600 airport lounges around the world. Eligible members must spend a minimum of $15,000 annually.

Well, I overspent by $1,100 but earned my 20,000 points and redeed my $200 in SpaFinder giftcards. Thanks for the massages, penfed. Time to think about closing the account before the annual fee.

I can't find any better deal for the points, thinking to redeem points for either Boarders gift card or IPOD touch, any idea guys ? just fyi... I have about 40,000 points in one card.

I would get the iPod Touch because its so much fun. Download the kindle e-reader and dome free books and you may find yourself paying less at the bookstore! I have been reading free stuff on my kindle for over a year!

I got a call from Penfed today. They offered to double the limit on visa card or get AMEX card with 20k points with same limit as visa. Rep claimed I am on pre approval list and they don't require credit pull. It didn't matter to me I have over 800 score and no inquires.

I got a call from Penfed today. They offered to double the limit on visa card or get AMEX card with 20k points with same limit as visa. Rep claimed I am on pre approval list and they don't require credit pull. It didn't matter to me I have over 800 score and no inquires.

Got an email this morning from PenFed stating that this card as well as the new Promise Card no longer charge foreign transaction fees.

Ipod touch would cost me $50 or more than want it would cost at retail, better I guess I will try to exchange the gift cards for cash at 20% discount !!

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

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

Send them a dollar every so often to keep the account alive.

any experience trying to redeem for travel?I got the mailer today, in which they claim a $395.40 Expedia ticket would cost 29,078 PenFed Premium Rewards. Any idea how they calculated that?

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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