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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. Use our table to compare PenFed cards in terms of rewards, annual fee and intro APR period. If a card catches your eye, read the card’s details where you can learn minimum credit score requirements or additional benefits.
We examined all of PenFed’s cards, identifying their flagship features and classifying them as best for certain categories. Each card offers specialized perks in their respective spaces, and these benefits hold up very well against those you’ll find from other card providers.
| Annual Fee | $95 |
|---|---|
| Purchase APR | 14.99% to 17.99% variable |
| Balance transfer APR | 0% intro for the first 12 months (then 17.99% variable) |
| Welcome offer | 50,000 points after spending $3,000 in the first 90 days |
| Estimated welcome offer value | $500 based on Finder's valuation |
| Rewards | 3x points on travel or 4x points if you’re a PenFed Honors Advantage member and 1.5x points on all other purchases |
| Annual Fee | $0 |
|---|---|
| Purchase APR | 14.99% to 17.99% variable |
| Balance transfer APR | 0% intro for the first 12 months (then 17.99% variable) |
| Welcome offer | $100 after spending $1,500 in the first 90 days |
| Estimated welcome offer value | |
| Rewards | 2% cash back for all PenFed Honors Advantage members and 1.5% cash back on all purchases |
| Annual Fee | $0 |
|---|---|
| Purchase APR | 13.49% to 17.99% variable |
| Balance transfer APR | 0% intro for the first 12 months (then 17.99% variable) |
| Welcome offer | 15,000 Bonus Points when you spend $1,500 in the first 90 days
|
| Estimated welcome offer value | |
| Rewards | 5x points on gas at the pump, 3x points on groceries and 1x points on all other purchases |
| Annual Fee | $0 |
|---|---|
| Purchase APR | 7.49% to 17.99% variable |
| Balance transfer APR | 0% intro for the first 12 months (then 17.99% variable) |
| Welcome offer | $100 bonus after spending $1,500 in the first 90 days |
| Estimated welcome offer value | |
| Rewards | N/A |
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.
Though this card is geared toward those with military affiliations, anyone can become a Pentagon Federal Credit Union member.
Previously, if you had no military affiliation, you could become a member by making a $17 one-time donation to Voices for America’s Troops or National Military Family Association. This is no longer a requirement.
To complete PenFed’s application, provide this information:
Many cardholders claim they own four PenFed credit cards, which could be the maximum number.
However, some cardholders claim that PenFed limits your credit limit across all cards to $50,000. This means if you have two PenFed credit cards with a $25,000 credit limit each, you may not be able to get a third PenFed credit card.
PenFed cards have many strengths that rival or exceed competitor credit cards from large banks. For example, all PenFed cards come with a 0% intro APR period on balance transfers, even on its flagship travel card.
As for rewards, you can get a cashback card with 2% back on all purchases for PenFed Honors Advantage members; A card with 5x points on gas purchases paid at the pump; And a card with 4x points on all travel purchases for PenFed Honors Advantage members.
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.
But if you don’t find any of PenFed’s cards attractive, there are other alternatives to consider. For example, the Citi Double Cash card is an excellent cash back alternative, while the Costco Anywhere Visa Card is a great card for gas rewards.
A few cards offer excellent rewards and potentially low ongoing APRs.
How to cancel your PenFed credit card without calling. It’s relatively easy, but be prepared to stand your ground.
