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$150
Welcome offer
Up to 5x
Points
$0
Annual fee
14.49% to 17.99%
Purchase APR (variable)
Annual fee | $0 |
---|---|
Welcome offer | 15,000 Bonus Points when you spend $1,500 in the first 90 days |
Rewards | 5x points on gas at the pump, 3x points on groceries and 1x points on all other purchases |
Purchase APR | 14.49% to 17.99% variable |
Balance transfer APR | 17.99% |
Minimum Credit Score | 670 |
Issuer | Visa |
Review by
Kliment Dukovski is a cryptocurrency and investments writer who has written over 700 articles to help readers find and compare the best financial options. Kliment has also written on money transfers, home loans and more. Previously, he ghostwrote guides and articles on foreign exchange and stock market trading.
The PenFed Platinum Rewards Visa Signature® Card is a strong rewards card for earning points on gas and groceries. It comes with a $0 annual fee, a variable APR of 14.49% to 17.99%, and earns 5x points back on gas, 3x points on grocery purchases and 1x points back on all other purchases. These points are worth roughly 1 cent each on average, though their value can go up or down depending on what you redeem them on.
The card offers a few other perks on top of rewards: it comes with a signup bonus of 15,000 bonus points after you spend $1,500 within your first 90 days of account opening. And like other PenFed credit cards, it also comes with a intro balance transfer offer for the first from account opening. Finally, you get access to several Visa Signature benefits, such as discounts at eligible retailers and access to the Visa Luxury Hotel collection.
The PenFed Platinum Rewards Visa Signature® Card is otherwise a rather straightforward product. It best shines as a gas rewards credit card, as there are better grocery reward cards on the market. If this is something that appeals to you and you’re a PenFed member, this is a more than solid option.
Apply with a good to excellent credit score of 670 or higher for a better chance of approval. To apply, you need to be at least 18 years old, a US citizen or permanent resident and a member of the PenFed Credit Union. Because PenFed automates conditional approval online, you may hear a decision on your application within minutes. If there are issues with your application, it could take a few days to a few weeks to hear back. On approval, you’ll get your card within 10 business days by mail.
The Pentagon Federal Credit Union welcomes military-affiliated individuals as members. Previously, anyone could join the union by becoming a member of the Voices for America’s Troops or National Military Family Association with a one-time $17 donation.
This requirement is no longer active, meaning you can become a PenFed member without joining the associations and making a donation.
Select up to 4 cards and choose Compare to see how this card stacks up to other reward cards on the market.
Reviewers through the Better Business Bureau (BBB) complain of long wait times for customer support. As of August 2021, The Pentagon Federal Credit Union earns an A+ from the BBB, though PenFed is not accredited with the BBB.
The PenFed Platinum Rewards Visa Signature® Card is a strong gas rewards card that can help you earn points toward travel, shopping or gift cards. You can also take advantage of the solid grocery rewards and low intro APR on debt you transfer from other cards.
If you’re looking for a card with more perks or more robust earning categories, compare other rewards cards to find features and benefits that better align with your spending habits.