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PenFed VISA Platinum Cashback Rewards Card

Editor's Rating: 5/5

  • Plus Card: 5% cash back on gas paid at the pump with a qualifying PenFed product*
  • Plus Card: No annual fee
  • Standard Card: 3% cash back on gas purchases paid at the pump
  • Standard Card: $0 First Year, then $25 Annual Fee
  • No foreign transaction fee
  • Cash rewards automatically awarded to your account every month
  • No limit to cash reward earnings
  • * PenFed qualifying products include: An active checking account with direct deposit ($250 min.); a money market certificate or IRA certificate; a mortgage; an installment loan (auto loans, boat loans, motorcycle loans, travel trailer loans, personal and educational loans); an equity loan or equity line of credit with a balance; thrifty credit service, personal line of credit, education line of credit, money market savings accounts.
Purchase Intro Purchase APR Bal. Transfer Intro Balance Transfer Fee Credit Needed
9.99% Variable
48 months on transfers made July 01, 2014 - Sept 30, 2014 after that the APR for new balance transfers will vary with the market based on the Prime Rate and is currently 9.99%. A 3% balance transfer fee applies to each transfer. Subject to credit approval
3% Excellent
Editor's Notes

Card Highlights This card is best for eligible credit union members seeking good cash back rewards on everyday purchases and a decent APR.

Should you switch to the PenFed Visa Platinum Cash Rewards Card?
If you only use your credit card for frequent gas purchases, the Plus version of this card, which has no annual fee, rewards card will save you plenty of money. The Standard version of the card has an introductory annual fee of $0 for the first year, then the annual fee is $25. For most credit card users, this account works better when it complements another cash back card. However, if you can get approved for this card during one of PenFed's special balance transfer offers, you might save more money in finance charges than you'll get back as cash rebates.

Rate Information
Finance Information
Fee Information
Card Details
Card Issued By: Pentagon Federal Credit Union
Card Type: Visa
Card Category: Low Interest, Cash Back
Card Class: Platinum
How to Apply: Online Application Form - Click to Apply
General Correspondence Address: PO Box 1432
800 247 5626

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