Credit Card Review & Application

PenFed Visa Platinum Cash Rewards Card

5.0

out of 5

- You must be a PenFed member to apply. Not yet a member? It's easy to join!
- You may be eligible through your employment, association membership, and volunteerism, or by becoming a member of one of our nonprofit partner organizations.
- Earn 5% cash back on gas purchases paid at the pump and .025% on all other purchases.
- Cash rewards automatically awarded to your account every month with no caps.



Intro APR: N/A*
Intro Period: N/A
APR: 9.99% (variable)*
Annual Fee: $0*
Issuer: Pentagon Federal Credit Union
Card Network: VISA®
Card Category: Consumer (Premium)
Card Type: - Low Interest Credit Card
- Reward Card
Credit Needed: Excellent*

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The PenFed Visa Platinum Gas / Cash Rewards Card is a credit card that offers cardholders a little something more. Not all credit cards out there on the market reward cardholders for using their cards; however, this card, brought to you by the Pentagon Federal Credit Union is designed to reward you.

This card comes with a free rewards program that cardholders are automatically included in. When you use your card, you are subject to receive cash back when you use your card on supermarket purchases and to pay for gasoline. In addition, you can receive cash back on other purchases you make using your card as well. There is no minimum or maximum limit to the cash back you can receive based on your purchases. Users are credited their cash backs each month as well so they do not have to wait. For individuals looking to receive money back on all the purchases they make will find this card to be ideal.

Besides the obvious reward of cash back, the card also has many other benefits that cardholders will appreciate. The card has a minimum number of fees unlike many other credit cards on the market. With most credit cards there is a long list of fees, some hidden, that are difficult to keep track of. With this card, Users do not have to pay an annual fee and depending on how far you are over-the-limit of your credit card, you may not be subject to any fees. If you make a late payment, you are not slapped with a standard large fee either. Not many credit card companies will have options open when calculating your late fee rather than sticking to the expensive, set-in-stone fee.

Cardholders can also appreciate the low introductory rate on balance transfers that lasts 24 months. If you compare this low, long introductory rate to other cards on the market, you will discover that this is a rarity in the credit card market.

United States residents interested in applying for this credit card must meet certain eligibility requirements. Appliers must be eligible by one of many military associations or must pay a one-time fee to join the National Military Family Association and become eligible. When applying through the application online, you can pay this fee or be eligible for free through a military association.

Reward Types: - Cash Back Reward Cards
- Gas Reward Cards
- Other Rewards Cards
- Universal Reward Cards
Reward Unit: Cash
Rewards: - 5% cash back on gas purchases paid at the pump
- .025% on all other purchases
Expiration: None*
Yearly Limit: Up to $50,000 limit
Other Benefits: See Terms and Conditions of the card
Comments: You must be a Pentagon Federal Credit Union member to apply. Not a member? It's easy to join. You must be a United States Government employee, member of the United States Military and Uniformed Services, employee or volunteer of the American Red Cross, member of the National Military Family Association, or a family member/housemate of a current PenFed member.
Online Account Access: Yes
Introductory APR: N/A*
Applied Towards: Balance Transfer
Introductory Period: N/A*
APR on Purchases: 9.99% (variable)*
Annual Fee: $0*
Grace Period: 25 days*
Min Finance Charge: 0.00%
Late Payment Fee: $20.00*
Over Limit Fee: $0.00
Balance Transfer: Yes
APR on Balance Transfer (%): 4.99%
Transfer Fee (%): 2.50%
Minimum Fee: $10.00
Maximum Fee: $100.00
Transfer Period: Life of Balance*
APR Cash Advances: 17.99%
Cash Advance Fee: 2.50%
Minimum Fee: $10.00
Additional Fees - 2% of the US dollar amount of the transaction
- Returned Payment Fee: $30.00
We do not offer online application for this card at the moment.


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† The information provided for PenFed Visa Platinum Cash Rewards Card is believed to be accurate at the time of evaluation (Mar 4, 2013). We strongly advise visitors to review the terms and conditions to verify accuracy of the information posted prior to applying for the product.




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