PenFed Platinum Rewards Visa Signature® Card
on Pentagon Federal Credit Union's website
PenFed Platinum Rewards Visa Signature® Card
Card details
Recommended credit score
0% APR promo balance transfer rate for 12 months now through September 30, 2019. After that, the APR for the unpaid balance and any new balance transfers will be 11.99% to 17.99%. APR will vary w/the market based on Prime Rate. 3% balance transfer fee per transaction. Subject to credit approval. $100 bonus after spending $1,500 in purchase transactions within the first 90 days of account opening.
Rate and offers current as of April 1, 2019 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
Earn 1 point on all other purchases
No annual fee
No foreign transaction fees
No cash advance fee
Chip enabled for added security
Federally insured by NCUA
Variable rate as low As 11.99% APR
Rates, fees & offers
Annual fee
$0
Rewards rate
1 point per dollar
Bonus offer
$100 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, 2019
Ongoing APR
Min APR: 11.99%, Variable
Max APR: 17.99%, Variable
Penalty APR: Up to 17.99%, Variable
Balance transfer fee
3%
Foreign transaction fee
None
NerdWallet review
Rating details
3.2
Editor's overall rating
Recommended credit score
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.
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