Two Words: STAY AWAY!!!
When I signed up for this card, the phone operator offered me 10K points for initial spend, and then something like 25K after an additional $650. Well, the 10K never posted and, after over many weeks of calling, they can't get their act together---they just continue to ask for more info and tell me that they will get back to me.
The poster above who used the word "Orwellian" was spot on: these guys are so disorganized. They pass me around from the Amex desk (they use the Amex label but it boggles the mind as to why Amex would sully their good reputation) to the rewards desk to the PedFed desk...rinse and repeat....
And just yesterday they sent me TWO separate account statements for the month of December with 2 different account numbers---when I called them about that, they told me they had a "security issue" and would be changing all card numbers soon. Wow...how about an explanatory letter, Penfed?
Until they get it together, I recommend that you stay away from this card.
Last edited by BigEdInVancouver; Jan 5, 2011 at 11:11 am
Reason: I didn't like the bad tone of my email.