The $18 billion Pentagon Federal Credit Union has begun issuing credit cards on behalf of the popular investment advice firm Motley Fool, according to an Aug. 28 advertisement for the card.
The new card, dubbed the Motley Fool PenFed Platinum Cash Rewards Visa Card, will offer cardholders the ability apply the cash back they earn toward their balance each month. Originally announced last year, the card will also not cap the rewards points cardholders can earn.
In addition, the email promised a $50 credit to new cardholders who responded to the email offer.
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Neither PenFed nor Motley Fool responded to calls or emails requesting comment.
According to the card application, PenFed will also pay to open a new share account for non-members applying for the card, as well as make a donation to a SEG organization to fulfil membership requirements.
'PenFed will provide you a complimentary $5 as an opening deposit into your share (savings) account which is required to be a PenFed member," the credit union wrote on the application. "PenFed will also make a one-time $15 donation on your behalf to one of its partner organizations, Voices for America's Troops (VOICES). This donation will make you a member of VOICES, which then entitles you to become a member of PenFed."
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