What are PenFed Platinum Rewards?
The PenFed Platinum Rewards Visa Signature provides excellent unlimited rewards for buying groceries and, especially, gas. It has no annual fee, a generous 0% APR introductory period on balance transfers, and a very modest one-time offer. But there’s no option to receive rewards as cash back or statement credits.
How do I redeem PenFed cash rewards?
Log into your PenFed Online account. Your Rewards Balance will show up in green on the left-hand side under your Rewards-earning credit card account. Click on “Redeem Rewards” and you will be taken to the Rewards site. Click on “Redeem Rewards” again under the current cash Rewards balance.
Do PenFed points expire?
PenFed Platinum Rewards points expire 60 months from the end of the billing cycle in which they’re earned.
What credit score is needed for a PenFed credit card?
(750+)
The usual PenFed credit card approval requirements include an excellent (750+) credit score and proof of a steady income. Applicants must also be at least 18 years old and either a U.S. citizen or permanent resident.
How much is a PenFed points worth?
about 1.7 cents per point
Points are redeemable for travel, gift cards and merchandise. Note that actual cash back isn’t an option. Typically, travel redemptions yield the highest point value, usually about 1.7 cents per point, although according to a PenFed spokesperson, hotel bookings tend to inch slightly higher in value.
Is PenFed a good bank?
Bottom Line. PenFed is a solid banking option for anyone with ties to the government or the military. They offer solid APYs on most accounts and low fees and minimums. You’ll have a number of account options, and it’s easy to withdraw and deposit money into most accounts.
Can I withdraw cash from PenFed credit card?
You can get a PenFed Platinum Rewards cash advance at any ATM, provided that you’ve obtained a PIN from Pentagon Federal Credit Union. To get your PIN, you can call customer service at 800-581-7786. Just remember that cash advances are very expensive, as interest will immediately begin accruing at a high rate.
Does PenFed give high limits?
Re: Which PenFed Card gave you the highest Credit Limit? Initially approved for PenFed at $15,000 after being verified by their loan officer.
What FICO score does PenFed use?
A credit bureau, which Penfed use is your fico score for determining if you are eligible for the loan or not. They pulled this from Equifax, one of the best credit agencies in America.
Is PenFed easy to get approved?
PenFed requires a minimum credit score of 650. While this score can help you qualify, it won’t get you the most favorable terms. We recommend a score of 720 to receive the lowest interest rates and largest loan amounts.
What can I use my PenFed points for?
Log into your PenFed Online Account, select “View Rewards Point Balance,” click “Access my Rewards” — and then browse and redeem. You can redeem your points for merchandise, travel, gift cards, Visa prepaid cards but also for cash back and one PenFed point is worth one cent.
Which is better PenFed or Navy Federal?
They both have excellent customer service and have great programs and products. NFCU is more generous with credit limits. PENFED has lower rates. Those are the only differences.