Update 5/13/25: New spend offer for $25 on Sporting Goods Stores (Merchant Category Code 5941) between May 12th and June 30th. (hat tip to Curmudgeon)
Update 2/19/25: New spend offer for $30 back with $300 spend at restaurants and take out between February 18th and March 14th. (ht Eternal Blue)
Contents
The Offer
Penfed sent out a spending bonus to their cardholders. There are two versions:
- Get $50 after spending $500 between 9/1/24 and 11/30/24.
- Spend $300 each month in September, October and November and earn a $25 statement credit per month. Here’s the best part: if you earn all three bonuses, you’ll
receive a $25 bonus for a total bonus of $100.
Our Verdict
Decent spend bonuses. Seems like everyone got one offer or another (it’s possible they are more targeted). Thanks to all those who sent this in.
I’m not sure exactly which spend counts for this.
Details from the PenFed email:
To receive the $25 credit to your statement, you must spend at least $250 using your PenFed Credit Card ending in XXXX in Merchant Category Code 5941 between May 12th and June 30th. The statement credit will be applied to your account within 6 weeks after the end of the promotion period. Merchant Category Codes (MCC) are reported by each individual merchant. PenFed is not responsible for MCC assignments. Sporting goods purchased at places other than sporting good stores, will not qualify for this offer.
Updated, thx
My offer specified that it’s only good at sporting goods stores
PenFed has the worst UI I’ve ever seen on mobile
Don’t miss this limited-time bonus! Spring is the perfect time to update your sporting goods collection. Plus, now you can get $25 back! Grab your PenFed Platinum Rewards Visa Signature® Card and spend $250 on the gear you need between May 12th and June 30th — and that $25 is yours.1
I completed this offer, no sign of the $30 credit yet.
“The statement credit will be applied to your account within 6 weeks after the end of the promotion period.”
Same here, no sign of it yet. Disappointing after the last one paid out so quickly. I even called customer service to get a copy of my transactions with the MCCs just so I could guarantee that I met the threshold. What a pain.
Don’t see any credits in transaction history yet, but my account balance decreased by $30 today.
$30 credited on April 3rd as
PENFED BONUS SPEND CAMPAIGN CREDIT Q1
Is there any registration required?
No
Never been targeted for one
I haven’t been targeted either, and I’ve been a PenFed customer since the 1990s.
Same here. This is the first I’ve ever heard of any promos tied to the PedFed Pathfindar Visa.
I’ve received an Auto Pay promo on my Pathfinder. However, I never received the credit and have it on my TTDL to follow up with PenFed about that.
Does anyone know how to find merchant coding for transactions on PenFed? I could have sworn they used to show that information but I can’t find it anywhere on the app or website.
I got the $300 spend bonus. Not bothering . They are a pain on paying bonuses timely.
Not in my experience. I got targeted for the $50 promo for $500 in spend last fall and they paid out literally two days after the last purchase triggering the bonus.
Yeah I’ve always had them pay out when they said they would.
I appreciate that they’ve been doing these bonuses. It’s a recent development.
I received another PenFed spending bonus email:
Spend $300 at restaurants and take out between February 18th and March 14th on your PenFed Power Cash Rewards Visa Signature ® Card and earn a $30 statement credit.
Dining out includes:
Fast Food
Restaurants
Coffee Shops
Pizza
Ice Cream
Takeout
1. To receive the $30 credit to your statement, you must spend at least $300 using your PenFed Credit Card ending in XXXX in Merchant Category Codes 5812 and 5814 between February 18th and March 14th. The statement credit will be applied to your account within 6 weeks after the end of the promotion period. Merchant Category Codes (MCC) are reported by each individual merchant. PenFed is not responsible for MCC assignments. This limited-time offer is only valid for the credit card number referenced above and is nontransferable. Cash back will be awarded in the form of a one-time statement credit and does not affect your minimum payment due. Cash advances, credit card checks, and balance transfers do not contribute towards the $300 purchase minimum. Each account is eligible to earn one statement credit of $30.00 during the promotional period.