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Pentagon Federal is one of the nation’s largest credit unions. Most credit unions are slow moving, stodgy institutions, with great rates and consumer friendly fees and terms. However, credit unions typically lack imagination when it comes to rewards credit cards. Many opt for either 1% cash back, or go with popular point programs designed for credit unions, such as CU Rewards and the atrocious Scorecard Points program.
5% on Gas with Platinum Cashback
There is only one credit card in America that offers no strings attached 5% cash back at any gas stations (excluding the likes of Costco) – the Platinum Cashback. It also gets you 2% back at grocery stores. Even better, the Platinum Cashback also does not have a monthly cap in terms of gasoline spending.
5x Points on Airfare with PenFed Promise Visa® Card
You get 5 Penfed Points per $1 spent with the PenFed Promise Visa® Card, which is essentially a 5% reward. This is because you can redeem 5,000 Points for $50 gift certificates at a wide range of places, so each point is worth exactly 1 cent.
This amazing rewards card gets even better. The PenFed Promise Visa® Card has no foreign transaction fee, which is a very rare perk (PenFed actually eats the fee charged to them by Amex). The card also gives you access to 600+ airport lounges around the world.
Best in class rewards for gasoline and airfare
Pentagon Federal’s rewards program definitely buck the stereotype for a credit union – not only are the rewards programs truly innovative and unique, they are hands down best in class when it comes to rewards payouts in gasoline and airfare. However, you should note that the cards are quite difficult to qualify for, so don’t even bother applying unless you have excellent credit.