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Old 09-23-2013, 09:25 AM   #1
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Pen Fed Deceptive New Business Practice

I know Pen Fed is a very popular CC among RVers.

Are any of you aware that as of 8/16/13 Pen Fed has changed (without notice) their point redemption amounts. Now to get a $50 Visa reward card you are charged 5,900 points.That is an immediate loss of 18% of your points.

I just finished talking to a CS supervisor and voiced my extreme dissatisfaction at the new unannounced changes. She said they got no advance notice either. They will not even give you the points you earned prior to the change without the 18% loss.

So now you really get 4.1% on fuel and 2.1% on groceries and darn near nothing on other purchases.

This is just out and out deception of their customers. If they need to change the program, tell us 4% gas 2% groceries. Don't take an additional 18% for redemption and make it sound like your getting more points. Then add their new $1.00 charge for not doing your statement online.

I used to praise this company but this is JUST PLAIN WRONG!!!
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Old 09-23-2013, 09:35 AM   #2
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I feel the same way.
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Old 09-23-2013, 10:41 AM   #3
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If you read the fine print of the agreement I think you'll find they have the right to change, or even discontinue, the benefits anytime they want to without prior notice.

Actually I'm not surprised by this move. I was converting my reward points to prepaid Visa cards in my daughter's name. There was no charge for printing the card and no mailing charges. I pretty much knew it was too good to last.

I will continue to use the program as there is just nothing better out there when you consider the unlimited reward points you can earn, particularly on gas and groceries in our case.
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Old 09-23-2013, 11:06 AM   #4
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I am not saying there is anything better. Just be honest. If your giving 4% say it. Don't say 5% then take back 1% when the points are redeemed.

I said to the CS supervisor they may as well make it even more inviting to use their card. Give 10 points for each dollar purchase but then change to 10,900 pts. = a $50 card. She chuckled but agreed.
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Old 09-23-2013, 01:13 PM   #5
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Dumped Pen Fed long ago ! many banks now offer very good discounts usinf there cards.
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Old 09-23-2013, 02:16 PM   #6
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I got an email, then later, a snail-mail letter stating the changes. Took the opportunity to change (drop) the card right away.
Still haven't got my $5 back from savings though...
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Old 09-23-2013, 06:22 PM   #7
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I pay cash and don't worry about some card company changing the rules mid stream
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