PenFed Platinum Rewards Visa Signature® Card
on Pentagon Federal Credit Union's website
PenFed Platinum Rewards Visa Signature® Card
Card details
$100 statement bonus after spending $1,500 in purchase transactions within the first 90 days of account opening.
0% promotional rate for 12 months on balance transfers made between now and September 30, 2020. After that, the APR for the unpaid balance and any new balance transfers will be a non-variable rate of 17.99%. 3% balance transfer fee per transaction. Subject to credit approval. If you take advantage of this balance transfer, you will immediately be charged interest on all purchases made with your credit card unless you pay the entire account balance, including balance transfers, in full each month by the payment due date.
Rate and offers current as of August 1, 2020 and subject to change.
Earn 5 points on gas purchases at the pump. Fuel purchases for airplanes and boats do not receive cash back rewards.
Earn 3 points on supermarket purchases (3 points/dollar spent)
Earn 1 point on all other purchases (1 point/dollar spent)
No annual fee
No foreign transaction fees
No cash advance fee
Chip and Contactless ‘Tap to Pay’ enabled for added security, ease and convenience at the point of sale
Click and Pay eligible, via Secure Remote Commerce, so you can enjoy easy and secure online buying checkout
Purchase variable rate as low As 13.49% APR and capped at 17.99%
Rates, fees & offers
Annual fee
$0
Rewards rate
1x-5x
Bonus offer
$100 statement bonus after spending $1,500 in purchase transactions within the first 90 days of account opening.
Intro APR
0% promotional rate for 12 months on transfers made now through September 30, 2020
Ongoing APR
APR: 13.49% - 17.99% Variable APR
Penalty APR: Up to 17.99%, Variable
Balance transfer fee
3%
Foreign transaction fee
None
Recommended credit score
Compare to other cards
Annual Fee$0 | Annual Fee$95 | Annual Fee$0 |
Regular APR13.49% - 17.99% Variable APR | Regular APR13.99% - 23.99% Variable APR | |
Intro APR0% promotional rate for 12 months on transfers made now through September 30, 2020 | Intro APR0% intro APR on Purchases for 12 months | Intro APR0% on Balance Transfers for 18 months |
Recommended Credit Score |
Recommended Credit Score |
Recommended Credit Score |
NerdWallet review
Rating details
4.5
Editor's overall rating
Pros and cons
Pros
No annual fee
Bonus cash back categories
No foreign transaction fee
Cons
Membership required
Can't redeem for cash
Inconsistent point value
The PenFed Platinum Rewards Visa Signature® Card earns one of the best rewards rates on gas you’ll find anywhere — an unlimited 5 points per dollar spent at the gas pump. And the $0 to boot.
In addition to free-flowing fuel rewards, the card also pays an unlimited 3 points per dollar on groceries and an unlimited 1 points per dollar on all other qualifying purchases.
Redemption options are limited, though. Points are redeemable only for travel, gift cards and merchandise. Cash back is not available.
Typically, travel redemptions yield the highest point value. Otherwise, you can generally expect a value of about 0.85 cents per point, which is less than what many other rewards cards offer.
You’ll also have to join PenFed’s credit union to apply. For more information about the PenFed Platinum Rewards Visa Signature® Card, check out our full review here.
