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The no-annual-fee PenFed Platinum Rewards Visa Signature® Card is a good choice for Pentagon Federal (PenFed) Credit Union members (anyone can join) who want to earn up to 5x points on eligible purchases with no caps. However, there are plenty of other no-annual-fee cards on the market that earn more valuable rewards, so you should consider all your options before applying. Earn 1-5x points on purchases $0 0% balance transfers promo APR for 12 months made in the first 90 days after account opening, 3% fee applies to each transaction 17.
99% APR on balance transfers, 17.99% Variable APR on purchases Good to Excellent Check mark icon A check mark. It indicates a confirmation of your intended interaction.
Strong rewards on gas and groceries Check mark icon A check mark. It indicates a confirmation of your intended interaction. Intro APR offer on balance transfers Check mark icon A check mark.
It indicates a confirmation of your intended interaction. No annual fee or foreign transaction fees con icon Two crossed lines that form an 'X'. Must join PenFed credit union to apply for the card con icon Two crossed lines that form an 'X'.
PenFed points aren't as valuable as some other bank rewards points con icon Two crossed lines that form an 'X'. No airline or hotel transfer partners If you bank with PenFed credit union or are willing to join, this no-annual-fee card could be a great addition to your wallet. With up to 5x points earning in popular bonus categories, it's easy to earn lots of rewards fast — but keep in mind, points are often worth less than 1 cent apiece depending on how you redeem them.
Get Rewarded on Everyday Purchases 5x Points on gas paid at the pump and EV charging stations 3x Points at the supermarket (including most Target and Walmart locations), restaurants, and TV, radio, cable, streaming services 1x Points on all other purchases 15,000 Bonus Points when you spend $1,500 in first 90 days 0% Balance Transfers Promo APR for 12 months, 3% fee applies to each transaction. Subject to credit approval. 0% introductory APR for 12 months on balance transfers made in the first 90 days after account opening.
After that, the APR for the unpaid balance and any new balance transfers will be a non-variable rate of 17.99%. A 3% balance transfer fee applies to each transfer.
This transaction is 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. Annual Fee: $0 Purchase Variable APR: 17.
99% Refer to PenFed.org for Terms/Conditions PenFed Platinum Rewards Visa Signature Overview If you're looking for a no-annual-fee rewards credit card that earns unlimited points on all purchases, the PenFed Platinum Rewards Visa Signature® Card is a good option. To be eligible to apply, you'll need to be a PenFed member, but anyone can open an account with a $5 minimum deposit.
It earns up to 5x points on purchases in common spending categories, including gas, restaurants, and supermarkets. Plus, you'll get flexible redemption options and decent benefits. With this card, you can earn 15,000 bonus points when you spend $1,500 in first 90 days of account opening.
However, the value per point varies depending on how you redeem your rewards — often, they're worth less than 1 cent each. That's a poor rate of return compared to similar no-annual-fee cards, like the Wells Fargo AutographSM Card or Chase Freedom Unlimited® , which easily allow you to redeem rewards for 1 cent apiece. The PenFed Platinum Rewards Visa Signature® Card comes with a 0% balance transfers promo APR for 12 months made in the first 90 days after account opening, 3% fee applies to each transaction (then a 17.
99% APR on balance transfers, 17.99% Variable APR on purchases), which makes it a decent option for folks looking to consolidate credit card debt without incurring high interest charges. The 0% intro APR deal doesn't apply to new purchases, so if you're needing to pay off a larger purchase over multiple billing cycles, this isn't the right card for you.
Rewards The PenFed Platinum Rewards Visa Signature® Card earns points in multiple spending categories, with no caps: 5x points on gas paid at the pump and EV charging stations (excluding fuel purchases for airplanes and boats) 3x points at the supermarket (includes most Target and Walmart locations and military commissaries) 3x points at restaurants , TV, radio, cable, and streaming services 1x points on all other purchases Keep in mind, that your PenFed account has to be in good standing in order to earn points on purchases. Another important thing to note is that your rewards do eventually expire after five years after being awarded (or if your account is closed). So if you're trying to save up points over a long period of time, perhaps consider a credit card with non-expiring rewards .
You can redeem rewards for travel, merchandise, E-gift cards, experiences, charity donations, and at the Apple Store. The value per point you'll receive varies widely; typically, you'll get the highest rate of return when you redeem for travel (1 cent per point or more), and less when you use them for shopping or gift cards. To use your points, sign into your PenFed account and find your options under "Redeem Rewards".
The catalog allows you to shop for electronics, sporting goods, children's items, household items, luggage, office supplies, and more. Plus, there are over 300 gift card brands to choose from (both digital and physical options). Shipping and handling fees are included in the reward redemption total, after which, your redemption points total is rounded down to the nearest 10.
You'll receive this value on the date your rewards are redeemed, not on the date the points are earned. If you need to find more information on rewards, you can log into the PenFed site or mobile app to view your balance, redeem points, or view Program Terms and Conditions (bottom of the Rewards page). You can also call the Rewards hotline at 800-581-7786.
Benefits and features In the case of an emergency, you'll have access to card replacement and disbursement services 24/7. When you use your PenFed card to pay for eligible entertainment services, you can get preferred event access, upgrades, and savings. You won't be held responsible for unauthorized purchases on a lost or stolen PenFed card.
You have to immediately notify PenFed of any unauthorized use. You can submit a claim at 800-247-5626. You'll get year-round benefits on culinary items when you use your PenFed Platinum Rewards Visa Signature® Card, such as special access and savings at more than 50 Sonoma Country wineries.
You'll receive access to a 24/7 worldwide service to report a lost or stolen Visa Card. You can receive replacement, repairs, or reimbursements on eligible net purchases bought with your PenFed Platinum Rewards Visa Signature® Card for up to $500 per claim for ninety days from the date of purchase. This service covers personal property damaged by occurrences, such as fire, lightning, vandalism, theft, and more.
You must submit a claim to receive this benefit. You can get 24/7 pay-per-use roadside assistance for towing, tire changes, jump starts, lockout services, and more. When you use your PenFed Platinum Rewards Visa Signature® Card at select retailers, you can access discounts at certain stores and online merchants.
The PenFed Platinum Rewards Visa Signature® Card gets you offers on golf experiences, event tickets, and other sports events. You'll also be able to save on premium ground transportation with Silvercar Audi rentals and gold benefits at over 95 courses worldwide with Troon Rewards. The PenFed Platinum Rewards Visa Signature® Card gives cardholders access to worldwide travel benefits, including special offers and upgrades at over 900 properties from the Visa Signature Luxury Hotel Collection.
The PenFed Platinum Rewards Visa Signature® Card gives you coverage in case of accidental death or dismemberment when you charge your entire travel fare with your eligible PenFed card. You can receive help with medical, legal, and travel services while traveling by calling the 24-hour Benefit Administrator at 800-397-9010. Spouses and children of the primary cardholder are eligible to receive these services as well.
Remember that you are still responsible for the cost of any actual medical, legal, transportation, cash advances, or other provided services. You can call the 24/7 Visa concierge service at 800-953-7392 for assistance on travel bookings, obtaining popular sports and entertainment tickets, restaurant reservations, golf tee booking, and more. Fees and costs The PenFed Platinum Rewards Visa Signature® Card has a 0% balance transfers promo APR for 12 months made in the first 90 days after account opening, 3% fee applies to each transaction (then a 17.
99% APR on balance transfers, 17.99% Variable APR on purchases). It also doesn't charge a foreign transaction fee , which means it's a good card to travel internationally with.
There is a balance transfer fee, a late payment fee (up to $28), and a returned payment fee (up to $25). Compare the Platinum Rewards Visa Signature PenFed Platinum Rewards Visa Signature® Card $0 5x points on gas paid at the pump and EV charging stations 3x at supermarkets (including most Target and Walmart locations) 3x restaurants, TV, radio, cable, streaming services 1x on all other purchases 3x points on travel, gas, transit, popular streaming services, phone plans, and restaurants (no cap) 1x on all other purchases 5% cash back (5x points) on travel purchased through Chase TravelSM 3% cash back (3% points) on dining and drugstore purchases 1.5% cash back (1.
5x points) on everything else 15,000 bonus points when you spend $1,500 in first 90 days of account opening 0% balance transfers promo APR for 12 months made in the first 90 days after account opening, 3% fee applies to each transaction (then a 17.99% APR on balance transfers, 17.99% Variable APR on purchases) Visa Signature discounts Visa Signature concierge services Travel accident insurance Travel and emergency assistance services Roadside dispatch No foreign transaction fees 0% intro APR on purchases for 12 months from account opening (then a 20.
24%, 25.24%, or 29.99% variable APR) Cell phone protection Car rental insurance Emergency cash disbursement and card replacement Roadside dispatch Travel and emergency assistance services Visa Signature® Concierge Visa Signature Luxury Hotel Collection No foreign transaction fees 0% intro APR on purchases and balance transfers for the first 15 months (then a 20.
49% - 29.24% Variable APR) Purchase protection Extended warranty Car rental insurance (secondary in the US primary otherwise) Trip interruption/cancellation insurance Travel and emergency assistance services Well s Fargo Autograph Card review PenFed Platinum Rewards frequently asked questions (FAQ) The PenFed Platinum Rewards Visa Signature® Card is a solid option for PenFed Credit Union members who want to earn unlimited rewards on all purchases without paying an annual fee. However, its strong rewards earning is offset by the value of the points — often less than 1 cent each.
There are plenty of other cards that don't require credit union membership that offer high earning and redemption rates, benefits, and welcome bonuses. Be sure to review all the top rewards credit card options before applying. You need at least good to excellent credit to be eligible for the PenFed Platinum Rewards Visa Signature® Card, which means a FICO score of 670.
If your current credit score is too low to qualify, you can look at some of the best credit cards for fair or average credit . Rewards points will expire five years after they are awarded. So if you're saving up points, make sure to keep track of when you earn them so you can use them before they expire.
Your points will also expire if your account is closed. Credit cards Investing apps Retirement savings Cryptocurrency The stock market Retail investing.
