Compare the top PenFed credit cards

PenFed Credit Union is a federal financial institution that has over 1.5 million members and roots in serving US military personnel. But don’t worry if you’re not affiliated with the military — you can still apply. PenFed cards come with the same bells and whistles you’ve come to expect from bigger providers, including rewards, promo APRs and no-annual-fee cards.

Compare PenFed credit cards

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Name	Product	Filter values	Rewards	Purchase APR	Annual fee
PenFed Pathfinder Rewards American Express® Card			3x points on travel or 4x points if you’re a PenFed Honors Advantage member and 1.5x points on all other purchases	12.74% to 17.99% variable	$0	View details	25,000 bonus points when you spend $2,500 in the first 90 days from account opening.	Compare	loading Fetching your data...
PenFed Power Cash Rewards Visa Signature® Card			2% cash back for all PenFed Honors Advantage members and 1.5% cash back on all purchases	11.74% to 17.99% variable	$0	View details	2% cash back for all PenFed Honors Advantage members and 1.5% cash back on all purchases made with your card.	Compare	loading Fetching your data...
PenFed Platinum Rewards Visa Signature® Card			5x points on gas at the pump, 3x points on groceries and 1x points on all other purchases	11.74% to 17.99% variable	$0	View details	Earn 5x points on gas at the pump and 3x points on groceries. Earn 1x points on all other purchases.	Compare	loading Fetching your data...
PenFed Promise Visa® Card			N/A	11.74% to 17.99% variable	$0	View details	Earn a $100 bonus after spending $1,500 on purchases in the first 90 days from account opening.	Compare	loading Fetching your data...
PenFed Gold Visa® Card			N/A	8.99% to 17.99% variable	$0	View details	Low APR on all purchases including cash advances.	Compare	loading Fetching your data...

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Best card for travel rewards: PenFed Pathfinder Rewards American Express® Card

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The PenFed Pathfinder Rewards American Express® Card holds up well against other travel cards. You’ll earn 4x points on travel as a PenFed Honors Advantage member and 1.5x points on all other spending. These are excellent rewards, especially considering the card comes with no annual fee.

• The perks

  • Rewards: Best for travel. Earn 3x points on travel purchases and 1.5x points on all other purchases. If you’re a PenFed Honors Advantage member, you’re bumped up to 4x points on travel. You can qualify by opening a PenFed Access America checking account or by being a member of military services.
  • Welcome offer: 25,000 points. Spend $2,500 on purchases within the first 90 days your account is open to earn your welcome offer.
  • Promo APR: 0% intro APR on balance transfers for the first 12 months. This is a solid promo APR on balance transfers. After the promo period expires, your balance transfer APR reverts to 12.74% to 17.99% variable. Transfer balances before September 30, 2019 to qualify.
  • $100 annual air travel credit. Use the credit toward incidental charges like baggage fees, lounge passes and in-flight refreshments.
  • Global Entry or TSA PreCheck credit. Every five years, you’re eligible for a statement credit equal to your $100 Global Entry or $85 TSA PreCheck application fee.

• What to watch out for

  • Penalty APR. If your minimum payment is late for more than 60 days, PenFed may apply a 17.99% variable penalty APR.
  • Balance transfer limitations. The promo APR on eligible balance transfers is great, but you’ll pay a 3% fee on each transaction. But you’ll need to pay interest on your account balance if you don’t pay it in full each month.

Best for flat cash back: PenFed Power Cash Rewards Visa Signature® Card

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The standout feature of the PenFed Power Cash Rewards Visa Signature® Card is its cashback potential. At a minimum, you’ll earn 1.5% cash back on all purchases. If you sign up for PenFed’s Access America checking account, or are a member of military services, you’ll earn 2% cash back through the Honors Advantage program. That’s a superb rate for flat rewards.

• The perks

  • Rewards: 1.5% cash back on all purchases. A simple — and solid — rewards rate that doesn’t require keeping track of categories. PenFed Honors Advantage members get 2% cash back on purchases. To qualify, just open an Access America Checking account. You can also qualify as a military services member.
  • Promo APR: 0% intro APR on balance transfers for the first 12 months. This is a solid promo APR on balance transfers. After the promo expires, your APR reverts to a variable 11.74% to 17.99%. You must transfer balances before September 30, 2019, to qualify.
  • Signup bonus: $100 statement credit after you spend $1,500 on purchases in the first 90 days. It’s not as strong as the bonuses you’ll find with other cards, but it’s a nice sweetener for a card with no annual fee.

• What to watch out for

  • Penalty APR. If your minimum payment is late for more than 60 days, PenFed may apply a penalty APR of 17.99% variable.
  • Balance transfer limitations. You’ll receive a promo APR on eligible balance transfers, but you’ll pay a 3% fee on each transaction. You’ll also need to pay interest on your account balance if you don’t pay it in full each month.

Best for gas and grocery rewards: PenFed Platinum Rewards Visa Signature® Card

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Look into the PenFed Platinum Rewards Visa Signature® Card if you spend big on gas and groceries. The stellar 5x points on gas makes this product a top choice for fuel rewards. Best of all, there’s no cap on the rewards you can earn.

• The perks

  • Rewards: Best for gas and groceries. Earn an unlimited 5x points on gas and 3x on groceries — surprisingly good rewards that make the card a contender with some of the top players on the market. On all other purchases, you’ll earn 1x points.
  • Signup bonus: $100 statement credit after you spend $1,500 on purchases in the first 90 days. It’s not as high a bonus as other cards offer, but it’s a nice sweetener for a card with no annual fee.
  • Promo APR: Enjoy a 0% intro APR on balance transfers for the first 12 months. This is a solid promo APR on balance transfers. After the promo period expires, your APR reverts to 11.74% to 17.99% variable. Transfer your balances before September 30, 2019, to qualify.

• What to watch out for

  • Penalty APR. If your minimum payment is late for more than 60 days, PenFed could apply a 17.99% variable penalty APR.
  • Balance transfer limitations. You’ll receive a promo APR on eligible balance transfers, but you’ll pay fees equal to 3% of each transaction. But you’ll pay interest on your account balance if you don’t pay it in full each month.

Best for low APR: PenFed Gold Visa® Card

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If you have strong credit and tend to carry monthly balances, the PenFed Gold Visa® Card might be for you. You may qualify for an APR as low as 8.99% variable — a good rate that’s significantly lower than the average credit card APR.

• The perks

  • Potentially low variable APR. Depending on your credit, your normal purchase, balance transfer and cash advance APR will be between 8.99% to 17.99% variable. This is a relatively low rate, considering the average credit card APR is around 16%.
  • Signup bonus: 100 statement credit after you spend $1,500 on purchases in the first 90 days. It’s not as strong as the bonuses you’ll find with other cards, but it’s a nice sweetener for a card with no annual fee.
  • Promo APR: 0% intro APR on balance transfers for 12 months. This is a solid promo APR on balance transfers, reverting to 8.99% to 17.99% variable after the promo expires. You must transfer balances before September 30, 2019, to qualify.

• What to watch out for

  • Penalty APR. If your minimum payment is late for more than 60 days, PenFed may raise your APR to 17.99% variable.
  • Balance transfer limitations. You’ll receive a promo APR on eligible balance transfers, but you’ll pay fees: 3% of each transaction. Also note that you’ll need to pay interest on your account balance if you don’t pay it in full each month.

Best for no fees: PenFed Promise Visa® Card

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If you’re sick of fees, the PenFed Promise Visa® Card may be a breath of fresh air. You’ll pay no fees whatsoever — that includes charges for balance transfers, foreign transactions and late payments.

• The perks

  • No fees. Pay zero fees for balance transfers, cash advances and foreign transactions. And you won’t be assessed penalty fees for late payments, returned payments or overlimit transactions.
  • Signup bonus: $100 statement credit after you spend $1,500 on purchases in the first 90 days. It’s not as high as bonuses you’ll find with other cards, but it’s a nice sweetener for a no-fee card.
  • Promo APR: 4.99% intro APR on balance transfers for 12 months. It’s not a 0% intro APR, but it’s a low rate supported by no balance transfer fees. After the promo APR expires, you’ll receive an ongoing APR of 11.74% to 17.99%. Transfers must be made before September 30, 2019 to qualify.

• What to watch out for

  • No 0% intro APR. Many cards with intro periods on balance transfers offer a 0% intro APR.

PenFed rewards program

PenFed’s rewards cards offer either cash back or points, depending on the product you choose.

If your card offers cash back, you can redeem your rewards for a:

• Statement credit to your account.
• Deposit into your PenFed checking account.
• Deposit into your PenFed share account.
• Deposit via ACH into an account at another institution.

If your card offers points, redeem them for a variety of rewards that include:

• Merchandise.
• Gift cards and certificates.
• Travel redemption toward hotels, car rentals, flights, vacation tours and vacation deals.

How can you redeem points?

To redeem points, log in to the PenFed Rewards Redemption Center with your account credentials. Follow the instructions specific to your card.

How much are points worth?

PenFed points are worth the industry standard of 1 point generally equals 1 cent. That’s great news especially since the credit union’s products offer strong rewards compared to the competition.

Typical card features and benefits of a PenFed card

• PenFed Honors Advantage bonus. PenFed cards typically offer good rewards by default. But if you’re an Honors Advantage member, you’ll get a boost to your earnings. You can become a member if you’re part of military services, or by signing up for an Access America checking account.
• Potentially low normal APR. PenFed may offer you a normal APR as low as 8.99% variable on all balances with the PenFed Gold Visa® Card.
• Promo APR on balance transfers. Most PenFed cards come with a promo APR on balance transfers when you request your transfer by a certain date.
• No annual or foreign transaction fees. PenFed doesn’t charge annual or foreign transaction fees on any of its cards.
• Signup bonus. Most PenFed cards offer a relatively easy-to-earn signup bonus after you spend a certain amount on purchases in the first 90 days from account opening.

How to apply for a PenFed card

Apply for a credit card through the PenFed Credit Union website. Before you apply, check that you meet the eligibility requirements and prepare the required information.

Eligibility criteria

• You’re at least 18 years old.
• You’re a US citizen or permanent resident.
• You’re a member of the PenFed Credit Union.

Information you’ll need

To complete PenFed’s application, you’ll provide information that includes:

• Your name and residential address.
• Your Social Security number and date of birth.
• Your email address and phone number.
• Financial information like your annual income and income source.

How does PenFed keep my credit card information secure?

PenFed offers many of the same security features that you’ll find with big banks. For example, it encrypts sensitive information you send online, and you’re logged out automatically if your web session idles.

The credit union offers 24/7 fraud monitoring, and you’re not liable for unauthorized charges to your account. For extra security, you can sign up for Card Security Text Alerts. If PenFed spots an unusual transaction on your card account, it texts you a message. At that time, you can validate or reject the transaction.

All PenFed cards come with EMV — Europay, Mastercard and Visa — chip technology. For the most part, this makes them more secure than magnetic-stripe cards.

Bottom line

For solid credit cards with no annual fee, consider PenFed Credit Union. If you have strong credit, you might qualify for a low interest rate on all of your balances. And if you’re hunting for rewards, you’ll find highly attractive options.

Before applying for any card, learn more about other providers offering no-fee cards to get a full view of what’s offered.

Frequently asked questions

• What information do I need to sign up for Card Security Text Alerts?

  You’ll provide your:

  • Mobile phone number.
  • Card account number and security code.
  • Card expiration date.
  • ZIP code.
  • Last four digits of your Social Security number.

• Is PenFed FDIC-insured?

  PenFed is not insured by the FDIC, but rather the National Credit Union Administration. According to PenFed’s website, NCUA is the credit-union equivalent of the FDIC.

• If I have a penalty APR, how long will it apply?

  Typically, your PenFed penalty APR applies until you make three consecutive monthly payments of at least your statement’s minimum on or before the due date.

• Will I know for sure what my card’s APR will be before I apply?

  Unfortunately, no. It’s not possible to know your APR until your application is approved. Of course, the higher your credit score, the better your chances of receiving a favorable interest rate.

• Why should I apply for a credit card from a credit union?

  A credit union is a nonprofit organization designed to serve its members, so it’s likely to offer personalized services beyond those of your typical bank. Credit unions also tend to offer competitive ongoing interest rates, lower annual fees and lower APRs.

Kevin Joey Chen

Kevin Joey Chen is a credit cards writer at finder.com. He's passionate about helping you get your finances in order and travel the world like a pro. He's taken an extended trip around Europe as a digital nomad, gaining firsthand experience with exchange rates, ideal (and not-so-ideal) credit and debit cards, foreign transactions and budgeting strategies. He earned his BA from UC Davis and has written across many niches at Finder, including cryptocurrency, personal loans, car insurance, real estate and money transfers.