Terrible Redemption System, Even Worse Customer Support
This is a warning that the rewards offered for this card are too good to be true and the card is not worth owning. It seems like you’re getting a deal with 5x points on air travel, but you’re really getting a tiny fraction of a penny per point that you are forced to redeem only on flights (no cash back or gift card option available at all). Plus, even when you try to use the points for travel rewards, the prices on flights are outrageous (roughly $500-1000 more than on Kayak) and they actually reserve the right to change flight reward prices at any time. And I mean anytime. I was literally on the booking page, filling out my traveler information to book a flight when PenFed Rewards increase the flight 35,000!!! points and made me pay the difference. They wouldn’t honor the price that I thought I had reserved at least for the 3 minutes it takes me to fill out the booking info and, when I asked for any help at all, they basically say tough luck. No support, no respect and you only feel boxed in by the rewards. They treat you as expendable and offer you no help or even an ounce of care. Stay away. I’m canceling my card tomorrow.