No. of Recommendations: 0
I've noticed yet another quirk with the way that Penfed delivers its credit card statements. The posts linked to at the bottom of the post highlight some of the other issues that have arisen with the card.

1. First notification of statement close not from Penfed

Statements appear to close by the calendar date which makes things slightly more predictable given the lack of an online indication of when exactly your statement cycle closes.

However, the first notification I receive is not from Penfed but from the USAA billpay web service that an automated payment has been scheduled. This occurred one business day after the close of the statement cycle which means that Penfed had something available by then. Regretably the only thing USAA permits to be paid automatically is the minimum payment due which means that I need to manually go back in to edit the payment to reflect the full statement balance.

2. No clear way to stop paper statements

There's no way to stop paper statements from arriving in your mail box. However, this is probably a good thing due to the obtuse way they manage their online statements.

3. Online statements lag behind notification

I was just notified by Penfed that my credit card statement is available, 6 total days (4 business) days after the close of my statement cycle. However while I have received the email, their online system does not allow me to retrieve this statement yet adding yet another delay.

A work-around would be establish automated payments via a Penfed bank account. However, unless you convert to using account this as your primary bank account, it still necessitates the transfer of the needed funds which would need to occur manually.

You could get around the statement availability delay by rounding up to the next dollar for your balance due to allow for sufficient funds but I still find the entire system highly irksome.

Are there other cards out there that offer 1.25% non-tiered cashback?

Initial posts about opening the account:
http://boards.fool.com/Message.asp?mid=24420722

Some caveats:
http://boards.fool.com/Message.asp?mid=24601266

Some issues with statements:
http://boards.fool.com/Message.asp?mid=24839691
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