dcsimg

Our credit card articles, reviews and ratings maintain strict editorial integrity; however we may be compensated when you click on or are approved for offers from our partners. How we make money.

Apply online for PenFed Platinum Rewards Visa Signature® Card
About Our Ratings
Credit Needed
Excellent

PenFed Platinum Rewards Visa Signature® Card Review

Pros & Cons

  • This card offers top-of-the-line rebates when you pay at the pump for your gas – five points per dollar or the equivalent of 5 percent. Purchases at grocery stores also earn bonus returns – three points per dollar.
  • Our 2017 Editor's Choice pick for Best Gas Rewards.
  • Earn a $100 bonus after spending $1,500 on the card in the first three months.
  • This card really benefits people who spend a lot at gas stations and grocery stores, in particular. If you don't spend a lot on in those categories, there are likely better card options for you.

Top Features

Points or Miles
Earn 5 points per dollar spent on gas purchases paid at the pump,* 3 points per dollar spent on supermarket purchases* and 1 point per dollar spent on all other purchases.*
Bonus Miles or Points
$100 bonus after spending $1,500 in purchase transactions within 3 months of account opening.
Purchase APR
9.49% to 17.99% when you open your account, based on your credit worthiness.* Your APR will vary with the market based on the Prime Rate.
Annual Fee
$0

Full Review

Amber Stubbs Managing Editor

Pentagon Federal Credit Union has grown into one of the country's largest credit unions by offering solid financial products to military families and their supporters. Their PenFed Platinum Rewards Visa Signature® Card offers outstanding value for families that spend a lot of money every year at gas stations and grocery stores, all with no annual fee. For this reason, the PenFed Platinum Rewards Visa Signature® Card was named a 2017 CardRating's Editor's Choice Award winner for Best Gas Rewards card.

Best card for gas and grocery rewards

This card is best for anyone with large grocery bills and heavy personal mileage. PenFed designs its credit cards around the needs of military families, explaining some of the extraordinary rebates you can rack up with this account. Gas purchases earn five points per dollar – the equivalent of a 5 percent rebate – when you pay at the pump. Supermarket purchases score three points per dollar, and all your other purchases earn one point per dollar. (For the benefit of military families, PenFed considers military commissaries the same as supermarkets.)

Redeeming your points requires a quick trip to PenFed's online rewards center, which will look familiar if you've ever used similar tools from the Chase Ultimate Rewards® or Citi ThankYou® programs. Although the site offers a handful of electronics and household goods, you'll generally get the best value by trading points for Visa prepaid reward cards or instant e-certificates to retailers like Amazon and Gap.

Bonus perks for overseas travelers

Like other PenFed credit cards, the PenFed Platinum Rewards Visa Signature® Card charges no foreign transaction fees. That can make a big budgetary difference to military personnel deployed overseas, saving between 3 and 5 percent on every transaction compared to most credit cards. PenFed also includes comprehensive travel accident insurance for members and their families traveling on itineraries purchased with this card.

How the PenFed Platinum Rewards Visa Signature® Card compares to other gas credit cards

The big banks' best gas credit cards can't stand up to the PenFed Platinum Rewards Visa Signature® Card. Although cards from Chase, American Express (American Express is a CardRatings advertiser) and Discover offer occasional 5 percent rebates on U.S gas purchases, their offers usually expire after a few months or come with spending caps. Most co-branded gas cards top off their rebates at about 3 percent, while requiring you to track down a participating gas station. PenFed doesn't restrict members' earning potential on their 5 point gas rewards. In fact, the promotional materials for this account advise cardholders to use their cards as much as possible to earn extra rewards.

If you spend more on supermarket purchases than on fuel, you could squeeze out a better overall return from the Blue Cash Preferred® Card from American Express card, which offers a whopping 6 percent back at U.S. grocery stores; however, that card caps your bonus spending at $6,000 per year, knocking you back to 1 percent after that. The typical American household spends about $7,800 on groceries annually, according to government statistics.

This page was last updated on June 01, 2017

This card compared to other reward points cards

Points or Miles
Earn 5 points per dollar spent on gas purchases paid at the pump,* 3 points per dollar spent on supermarket purchases* and 1 point per dollar spent on all other purchases.*
2x points at US supermarkets, on up to $6,000 per year in purchases (then 1x); 1x points on other purchases. Terms and limitations apply.
5X Membership Rewards(R) points on flights booked directly with airlines or with American Express Travel.
Bonus Miles or Points
$100 bonus after spending $1,500 in purchase transactions within 3 months of account opening.
10,000 Membership Rewards(R) points after you use your new Card to make $1,000 in purchases in your first 3 months.
60,000 points after you use your new Card to make $5,000 in purchases in your first 3 months.
Purchase APR
9.49% to 17.99% when you open your account, based on your credit worthiness.* Your APR will vary with the market based on the Prime Rate.
13.99%-23.99% Variable 
N/A 
Annual fees
$0
$0
$550
This card is best for eligible credit union members seeking good rewards on everyday purchases and a decent APR.
CardRatings.com Editorial Staff

PenFed Platinum Rewards Visa Signature® Card details

Cashback on Gas
N/A
Cashback on groceries
N/A
Cashback on other
N/A
Purchase Intro
APR:
N/A
Purchase APR
9.49% to 17.99% when you open your account, based on your credit worthiness.* Your APR will vary with the market based on the Prime Rate.
Annual Fee
$0
see more  

Credit Card Rate Information:


 
  Purchase
  Balance Transfer
  Cash Advance
Index:
 Prime
 Prime
 Prime
Margin:
 6.74 - 14.74
 6.74 - 14.74
 6.74 - 14.74
APR:
  9.49% to 17.99%
when you open your account, based on your credit worthiness.* Your APR will vary with the market based on the Prime Rate.
 9.49% to 17.99% when you open your account, based on your credit worthiness.* Your APR will vary with the market based on the Prime Rate.
 9.49% to 17.99% when you open your account, based on your credit worthiness.* Your APR will vary with the market based on the Prime Rate.
APR Floor:
 None
 None
 None
Intro Rate:
 N/A
 0%
 None
Intro Period:
 N/A
 12 months
 None


Finance Calculation Method:
 Average Daily Balance (including new purchases)
Default/Penalty APR:
 17.99%
Default/Penalty Margin:
 N/A
Default/Penalty APR Floor:
 None
Penalty/Default Trigger:
 

Credit Card Fee Information:


Annual Fee:
 $0
Foreign Transaction Fee:
 None
Late Fee:
 N/A
Over-the-limit Fee:
 None
Balance Transfer Fee:
3% per transaction  


Notes:

Rebate Description:
 Points can easily be redeemed online for merchandise, travel, gift cards, or even Visa prepaid cards.
Special Notes:
 
Credit Card More Information:

Card Issued By:
 Pentagon Federal Credit Union
General Correspondence Address:
PO Box 1432
Alexandria, VA 22313
Card Type:
 Visa
Card Class:
 Signature
Card Category:
 Gas, Primary Category Cards - Reward Points, Low Interest, Reward
States Available In:
 
Minimum Credit Limit:
 $5000 min.
Maximum Credit Limit:
 
Credit Limit Notes:
 

What Pentagon Federal Credit Union says about this card

  • 0% APR promo balance transfer rate for 12 months, now through June 30, 2017. After that, the APR for the unpaid balance and any new balance transfers will be 9.49% 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 3 months of account opening.
  • Rate and offers current as of June 1, 2017 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
  • Rates as low As 9.49% APR

Credit Card Consumer Reviews:

  1. No reviews available for this card.   Be the first to review!

Write Consumer Reviews:





E-Mail will not be published









Special offers
Currently available on the PenFed Platinum Rewards Visa Signature® Card
$100 bonus
After spending $1,500 in purchase transactions within 3 months of account opening.

Start Here

Search. Compare. Apply.

Apply online for The Amex EveryDay® Credit Card from American Express

The Amex EveryDay® Credit Card from American Express

  • Earn 10,000 Membership Rewards(R) points after you use your new Card to make $1,000 in purchases in your first 3 months.
  • Use your Card 20 or more times on purchases in a billing period and earn 20% more points on those purchases less returns and credits. Terms and limitations apply.
  • 2x points at US supermarkets, on up to $6,000 per year in purchases (then 1x); 1x points on other purchases. Terms and limitations apply.
  • You can use Membership Rewards(R) points for all or part of your flight, hotel booked and paid in advance, vacation or cruise booking.
  • No annual fee. Plus, 0% intro APR on purchases and balance transfers for 12 months, then a variable rate, currently 13.99% to 23.99%, based on your creditworthiness and other factors.
  • Terms Apply.
Terms and Limitations Apply
Credit Needed:
Excellent, Good
Apply online for The Platinum Card® from American Express

The Platinum Card® from American Express

  • Earn 60,000 Membership Rewards(R) points after you use your new Card to make $5,000 in purchases in your first 3 months.
  • New! Up to $200 Uber Savings Annually.
  • 5X Membership Rewards(R) points on flights booked directly with airlines or with American Express Travel.
  • 5X Membership Rewards(R) points on eligible hotels booked on amextravel.com.
  • As a Platinum Card Member, you can enjoy access to the Global Lounge Collection, the only credit card airport lounge access program that includes proprietary lounge locations around the world.
  • Receive complimentary benefits with an average total value of $550 with Fine Hotels & Resorts. Learn More. Terms Apply.
  • $200 Airline Fee Credit, up to $200 a year in baggage fees and more at one airline. Terms Apply.
  • Terms Apply.
Terms and Limitations Apply
Credit Needed:
Excellent, Good