New PenFed credit card launching 11.11.2014

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Fuerza

Guest
Got the following email today.

For nearly eight decades, PenFed’s core mission has been to provide the best possible financial products and services to America’s men and women in uniform and their families. This Veterans Day, we continue to honor our pledge by adding a new Defender card to our family of award-winning credit cards.

This card is designed with you in mind—our brave Active, Guard, Reserve, Honorably Discharged Veterans and Retired men and women of the United States military. It is one of the BEST offers available and designed exclusively for you—our nation’s BRAVEST.

Additionally, as a PenFed member, you'll be able to sign up for an exclusive early preview of our new Defender Card and be among the first to experience its best-in-class benefits.

Sign Up Now
We are grateful and proud to have you as our member. Thank you for choosing PenFed for your financial needs.


James Schenck,
PenFed President/CEO

I signed up for the preview but I'm wondering what this will entail. The current PenFed Defender card is a 1.5% CashBack card. I'm wondering if this new card will be a 2% card? Or maybe a 5% category card!
 
shenxing

shenxing

Level 0 Member
I called and asked. It's a Visa Signature version of the existing Amex one. The card is 1.5% flat cashback and only available to those in the military.
 
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zeitgeist

Level 2 Member
Ah, I was excited for a moment. I have a 40k line there with a 5% cashback gas card.

I never get e-mails from them.
 
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PainCorp

Level 2.14 on Dining/Travel until 12/15
zeitgeist said:
Ah, I was excited for a moment. I have a 40k line there with a 5% cashback gas card.

I never get e-mails from them.
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I never got the email, but that card never leaves my wallet. It's my only Chip-and-PIN card.
 
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zeitgeist

Level 2 Member
I believe it's chip & sig before chip & pin. I've put it back in my wallet as my OBC is sitting idle at the moment.

I wish PenFed would come out with something decent. I've had the CR since 2008.
 
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PainCorp

Level 2.14 on Dining/Travel until 12/15
zeitgeist said:
I believe it's chip & sig before chip & pin. I've put it back in my wallet as my OBC is sitting idle at the moment.

I wish PenFed would come out with something decent. I've had the CR since 2008.
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You're right, I had an issue in Oz where it worked as C&P in kiosks for the train, but not at convenience stores, where it defaulted to C&S.
 
Saphira2021

Saphira2021

Level 2 Member
No, same one. It was converted to points so I stopped using it. How did you keep it as cash reward on statement?
 
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Fuerza

Guest
Are you guys sure you aren't confusing the Platinum Rewards with the Platinum Cash Rewards? Rewards is the points 5-3-1 while the Cash Rewards is the 5% cash back on gas purchases.
 
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knick1959

Level 2 Member
Saphira2021 said:
have card in front of me. Penfed cash rewards visa platinum
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Mine says the same thing - green card. Cash Rewards in the upper left. Visa Platinum in the lower right.

If I remember correctly, they were going to drop my CB on gas to 3%, which would have caused me to probably cancel, the reasons being long and involving several other cards. However, after reading the fine print, you could preserve the 5% by doing one of several things (getting or refinancing a mortgage ...). I opted for a specific savings account. I deposited $25 and have benefited at 5% ever since. I check every once in awhile to make sure it IS actually 5%, but it always works out.

I remember them giving me a "points" option, but I did have an option and that didn't look attractive to me. I've had this card for many years, so perhaps that enhanced my options?
 
Kim @Savy.Traveler

Kim @Savy.Traveler

Level 2 Member
knick1959,

I also declined to convert to the new points card. I recently had my original grey card compromised so PenFed sent me the green card with chip. For this card, the terms also included a $25 annual fee if you don't have other Penfed products. So it seems the terms may have changed again, but do not have an effect as long as you have another product in addition to the card and the membership account.
 
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knick1959

Level 2 Member
Kim @Savy.Traveler said:
knick1959,

I also declined to convert to the new points card. I recently had my original grey card compromised so PenFed sent me the green card with chip. For this card, the terms also included a $25 annual fee if you don't have other Penfed products. So it seems the terms may have changed again, but do not have an effect as long as you have another product in addition to the card and the membership account.
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You're right, THAT'S why I would have cancelled ... the threat of a $25 AF. I remember this now, thanks. However, opening up the $25 money market savings account qualified as "another product" and I remain fee-free and still get 5% off.

With the fee, and the fact that Freedom and Discover offer 5% quarters and other cards offer 2 or 3% with no fee, well, I'm glad I got the fee suppressed. I do NOT MS on this card, tho. Perhaps I could expand my horizons, but I'm pretty happy with it as currently used.

With interest, my balance currently sits at $25.01 :).
 
F

Fuerza

Guest
knick1959 said:
Sorry. I assumed all gas station charges would post at 5% CB. Including GCs. I have no experience with this. This is wrong?
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Yes Visa pay at the pump merchant code is different than the merchant code used inside.
 
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