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PenFed Platinum Rewards Visa Signature® Credit Card

penfed rewards credit card
Required Credit Score: Excellent
3 803 reviews   Write a Review!
Existing Cardholders

PenFed Platinum Rewards Visa Signature® Credit Card’s Rewards

Base Earn
1 point / $1
Max Earn
5 points / $1
Earn / Redeem Limit
  • Earn 5 points per dollar spent on gas purchases.
  • Earn 3 points per dollar spent on supermarket purchases.
  • Earn 1 point per dollar spent on all other purchases.
  • Ability to redeem points for a range of rich Rewards, including merchandise, travel, gift cards or even Visa® prepaid cards at
  • Special savings and discounts from top retailers.
  • Inside connection to exclusive ticket pre-sales, special stay-and-play packages and exclusive ticket discounts and Access to premier golf benefits, sporting events & complimentary wine tastings.

PenFed Platinum Rewards Visa Signature® Credit Card’s Key APRs & Fees

Intro Rate on Purchases
Not Offered
Intro Rate on Transfers
4.99% for 12 months
Regular Rate
9.99% (V)

PenFed Platinum Rewards Visa Signature® Credit Card’s Additional Info

  • MAX LATE FEE   $25
  • MAX PENALTY APR   17.99%
  • GRACE PERIOD   25 days
  • SMART CHIP   Yes
  • 4.99% APR promotional balance transfer rate for 12 Months on Balance Transfers made between November 01, 2014 through December 31, 2014.
  • Complimentary 24/7 Concierge Service.
  • Special savings and discounts from top retailers.
  • Travel benefits: Travel Accident Insurance, Travel and Emergency Assistance Service, Roadside Dispatch.
Apply Now
at Pentagon Federal Credit Union’s
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PenFed Platinum Rewards Visa Signature® Credit Card Reviews

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Overall Rating: 3.2 / 5
Total Ratings: 803
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Oct 23, 2014
Photo of Katharine D.
This looks like a great rewards card. Compared to my Discovercard, you get lots of opportunities to earn points with this PenFed Platinum Rewards card. You can earn points for many things that are part of daily routine - for example, you earn 5 points per $1 spent on gas purchases. For me, it takes nearly $40 to fill up a full tank so that's about 200 points! I also like that the intro APR rate is 4.99% for the first 2 years. My discovercard only gave me a lower APR rate for the first year. Awesome!
Sep 18, 2014
Photo of Michael K.
Looks like the PenFed Platinum Rewards Visa Card is a good credit card. The rewards feature is very nice it appears that one can get quite a bit of cash back bonuses. I currently use a discover card that gives me cash back but it is only in percents so it takes forever to really get a good amount of cash back.
Aug 13, 2014
Photo of Katelyn W.
I think this is a great rewards card. You get a ton of points for common items we shop for everyday like gas and groceries, which we're never going to stop buying. There's no annual fee which is very appealing and low transfer APR rates. This card reminds me of the New York & Company store card because theres so many points for your spending and then you get rewards except this card is used for overall spending. I would definitely recommend this to those with big families.
Jul 30, 2014
Photo of Jessica O.
Compared to the HSBC platinum card I appreciate the lower APR of the PenFed Platinum Rewards Visa Signature® Credit Card and the 25 day grace period. Also the lack of Foreign transactions fees is a big plus when I go on trips!
Jul 10, 2014
Photo of Indira W.
If I had this card it would be the only one i'd use! I use Chase and Citi credit cards paying them in full and rotating them based on the quarterly 5% categories. With this set 5% and 3% on gas and grocery's there is no need to rotate cards. The interest rates are lower than my current cards as well, however, I make sure to spend only what I can actually afford. The Chase and Citi cards did offer a bonus for initial purchases. However, the long term benefits out weighs it by far!
May 21, 2014
Photo of John P.
The 4.9% rate on balance transfers is higher than many cards I've seen. Though the cards that offer 0% interest rates on balance transfers usually only give that rate for the first 12 months, 4.9% only looks good until you see that the current rate on transfers is based on the prime rate which is actually 13.99%, and if you don't pay attention you might miss the initial 3% fee for a balance transfer. This could be a bit confusing when looking at the 9.99 variable rate the card normally charges. The maximum penalty being 17.99% for this card is something to consider if you are one who tends to more
Feb 3, 2014
Photo of Stephanie M.
This card seems okay. I'm surprised they don't have a initial points offer. Rewards cards are getting very competitive and it's hard to believe it's not offered. Points seem pretty straight forward with a somewhat reasonable regular interest rate, they do have a very nice 0% APR intro rate for 18 months for balance transfers. This is attractive. Though no other intro rate which seems odd like the no initial points offer. The Complimentary 24/7 Concierge Service is nice if you use that sort of thing. They have some other benefits, but I don't see anything I would use that often honestly.
Jan 7, 2014
Photo of Connie C.
The PenFed Platinum Reward card is very enticing. The 9.99% interest rate is pretty good as well as the 0% for balance transfers for 18 months. The cash advance rate is equal to the regular rate which is uncommon in cards, but a great feature. Who wants to pay more for a cash advance than a purchase? My only problem with this card is the rewards system. I typically hate point rewards and much prefer cash rewards like my BoA rewards card.
Dec 16, 2013
Photo of Lindsay K.
The PenFed Platinum Rewards Card has some really great perks that distinguish
it from other credit card companies. While they don't offer a special intro
apr, their standard rate of 9.99% is very reasonable. I love that they offer higher
bonus points on gas purchases, as gas has become very expensive. It is great that they
offer rewards on the things that people buy most often.
Dec 12, 2013
Photo of Chelsea M.
This card is similar to a few other cards that come to mind( Bank of America Rewards Card) that offer high points on gas purchases. I used to drive a truck for work and The PenFed Rewards Card would have really come in handy then. The 9.99% APR on cash advances isnt bad either. I would recommend this card to friends and family.
Dec 12, 2013
Photo of David M.
A lot of store cards for gas stations have very limited rewards and huge fees and interest rates. Besides that, they can only be used for that company's gas. The PenFed Platinum Rewards Credit Card is ideal for those of us who are sick of getting almost nothing out of our gas cards. Five points per dollar spent on gas is the highest I've ever seen and doesn't limit you to only one gasoline company. Even more beneficial than that, you can use this card wherever you want! It is on the Visa network so it can be used in plenty of places. Besides the gas rewards, three points per more
Dec 9, 2013
Photo of Jess M.
Receive 5 points per dollar on gas purchases with no annual fee? Yes please! This is definitely one of the highest rewards for gas purchases I’ve seen, while still giving a decent amount of points for groceries – two of my most basic and consistent purchases.
Dec 3, 2013
Photo of Jason B.
The PenFed Platinum Rewards card does what many users are looking for, with a well hit balance between rewards and solid APR. If you can qualify for this card I highly recommend it, especially if you are interested in using a credit card for regular necessities like gas and grocery shopping. The rewards will make it very worthwhile and the introductory fee is a great kick start to letting you use the card without overpaying.
Nov 15, 2013
Photo of John L.
I really like the Penfed Platinum Rewards card. You do need decent credit to qualify but the card is definitely worth it. Compared to most credit cards with high qualifications the interest rate is a little high at 10 percent but only slightly higher. My Bank of America Premium card is 8.5 percent but the Penfed is still a better card. Even the best cards out there have a horribly high cash advance rate usually around 25 percent but the Penfed credit card is a low 10 percent. It also has a great rewards system. 5 points at gas stations, 3 points a every major super market and a point more
Nov 6, 2013
Photo of Gregory S.
The PenFed Platinum Rewards Credit Card is an excellent option for individuals who are looking to transfer a balance from another card. The card offers a low rate (4.99%) for transfers made in the last three months of 2013 (although the rate will return to the regular market percentage after the promotional period). The PenFed Platinum Card offers a lower late fee ($25) and a longer grace period (25 days) than the Chase Sapphire Preferred Card ($35 and 21, respectively) which is an added benefit. I like the fact that PenFed also gives its cardholders tickets to special events as well as 24/7 complimentary concierge service which is definitely a more
Nov 2, 2013
Photo of Adam R.
This card is a lot like my Bank of America card in that you will get the largest return on gas and at the supermarket. I really like the point system compared to my cash back program because I feel like I can get more out of it. Another notable plus with the PenFed Platinum Rewards Credit Card is there is no annual fee. All in all it looks like a good card. The interest rate is comparable to the card i currently hold and the cash advance interest rate is very reasonable. My favorite thing since I am close to Canada is there is no foreign transaction fees. The more
Oct 30, 2013
Photo of Billy M.
This PenFed Platinum Rewards Credit Card seems like a very good credit card to have.Unlike the American Express Premier Rewards Gold Card this card offers no annual fee and with the PenFed Platinum Rewards Credit Card you have the Travel accident insurance and roadside dispatch.This card will be a better choice for someone with very good credit than the American Express card mentioned.The rewards for this card will really make this a card that you could really save a lot of money at retailers and it is very cool that they do not charge you a fee if you use it in other countries which is very valuable to someone more
Oct 25, 2013
Photo of Kristin M.
The PenFed Platinum Rewards Credit Card seems to have some run of the mill rewards, it doesn’t seem to have any pizzazz and it doesn’t seem to have any huge reward redemption deals for travel, so this probably isn’t the card of choice for the world traveler (unlike an American Express credit card). However, this is a good card for everyday uses; with rewards of 3 points per dollar on grocery purchases and 5 points per dollar on gas purchases, those can really add up – great for home life. This card also has a lower regular rate of 9.99%, one of the lower rates I’ve seen on a credit more
Oct 17, 2013
Photo of Sam H.
The PenFed Platinum card is a good credit card overall. The interest rate of 10 percent is better than most but the point system is mediocre compared to some. You would have to spend 1200 dollars at a supermarket to earn a 25 dollar Gap card. ( My Chase card earns the same amount of points as this one but they're worth more in real dollars. However one great thing about the PenFed Platinum card is the low cash advance rate, 10 percent is a great offer and better than any other card I've seen. Altogether if you want low interest rates but don't care too much about a rewards more
Oct 14, 2013
Photo of John J.
The terms for this decent. PenFed Platinum Rewards Credit Card is very competitive in comparing to other credit cards. They offer you really good rewards. Though some may thing it's a little complicated to understand, but if you sit there and just go over the terms you'll understand it pretty easily. It's a really good card to use in such times as we're in and will definitely help the lower class. I like what they're giving though there are better cards out there, but this one is definitely not off the recommended list. The rates are a little high but they can be dealt with. But with this you'll be more
Oct 10, 2013
Photo of Jenny T.
The PenFed Platinum Rewards Credit Card is a competitive compared to other credit cards in the same category. They have a decent balance transfer rate although I have seen some as low as zero percent for 18 months. They have a good rewards point system which allows members to earn money at common places like the grocery store and gas station. They do not charge an annual fee but do require an excellent credit score to apply. This fact may limit their customer base in light of the current economic times. Overall, I do like what they are offering. However, with a little research, I feel that there are better more
Oct 6, 2013
Photo of Sarah H.
The PenFed Platinum Rewards Credit Card is by far one of the best credit card offers I have personally seen in a while when it comes to offering reward points. I am currently a holder of a Capital One Journey Student Rewards Credit Card. While they offer 1% cash back on all purchases, the PenFed Platinum card gives you the opportunity to earn more on everyday purchases such as groceries and gas. With the PenFed credit card, you can earn 3 points per dollar spent on supermarket purchases and 5 points per dollar spent on gas purchases. Considering everybody needs food and gas, this is a rather generous offer.

The more
Oct 2, 2013
Photo of Jesse S.
The PenFed Platinum Rewards Credit Card seems like a complicated card to own. All the different point tiers for different places may be a little hard to remember what place gives what amount of points. There are plenty of cards out there that offer a better introductory rate also, 4.99% is kinda high. You also have to have an excellent credit rating also. I have the Citi Simplicity Credit Card which is like the complete opposite. There are no late fees, no overdraft fees, and no annual fees. I don't have to deal with all the point stuff either. Just use the card and pay the bill. I do like more
Sep 25, 2013
Photo of Ben M.
The PenFed Platinum Rewards Credit Card has some really great spending categories with bonus rewards which I love. 5% back on gas is pretty huge, you don't usually see other cards offer this much back on gasoline purchases, even gas stations store cards. 3% back on grocery stores is also huge, which is better than other grocery store cards like those from Kroger. And with 1% back on everything else it's still pretty decent and in line with what other cards offer. Use this card for your groceries and gas, and something else like the VentureOne card for everything else to get a little extra cash back.
Sep 20, 2013
Photo of Justin V.
This really is a great card! The PenFed Platinum Rewards card has everything that a customer seeking rewards would be looking for. You receive 5 points per dollar spent on gasoline, 3 points per dollar spent on groceries and 1 point per dollar on any other type of purchase. If you pay your credit card balances in full monthly, this could be very beneficial as you'd avoid any type of interest charge and easily be able to accrue over 1,000 points per month. To top all this off is a great 10% APR for the introductory rate, if you were to carry a balance. You'd be hard pressed to find more
Sep 13, 2013
Photo of Sheryl P.
Now this is a rewards card I can get behind. The PenFed Platinum Rewards. The categories I spend the most money on is gas and groceries. This card offers 5% back on gasoline, 3% back on groceries, and 1% back on everything else. On top of all that they do not charge an annual fee. You could definitely use this card for your gas and your groceries, and use another credit card to get more than the standard 1% back everywhere else. For example, Capital One Venture offers 1.25% back on every day purchases. This is definitely a good card to have in your wallet, and if it offered more more
Sep 9, 2013
Photo of Calvin H.
This PenFed Platinum Rewards credit card is pretty great. The 5 points for gas and 3 points for groceries makes it very attractive. However, these points sometimes don't convert 1:1 for cash. Sometimes you need more than one point per dollar, and that's where this card loses to other cards such as the AmEx Blue Cash cards, or the Discover IT card that has currently has 5% cashback on gas. Otherwise, the rate is not bad at all for this card. It's pretty nice for a credit card, that's for sure. I would not personally recommend it, since there are better cards out there.
Aug 26, 2013
Photo of Chris M.
The PenFed Platinum Rewards card is a fantastic card. If you can get approved for it, that is. You need top notch credit to get this one, but if you can it's a great credit card to have. The rewards are pretty good, the intro APR is I believe a little over 9%, which is great in my book. For being a member you get access to a 24/7 concierge and other exclusive benefits only available to cardholders. Usually, cards with these types of benefits have a very high annual fee, but not the PenFed Platinum Rewards card. No outrageous fee's of any kind.
Aug 6, 2013
Photo of Benjamin X.
Woah! The PenFed Platinum Rewards Credit Card offers some of the best cash back rewards I've seen! 5% on gasoline is ridiculous, even higher than the well-known and touted TrueEarnings Credit Card from Costco and American Express. The return on groceries is great too, better than other cards I've seen. And of course, the 1% return on everything else you purchase is an industry standard for rewards cards. And it has no annual fee, AND a low interest rate of 9.99%? This is definitely the card to get - it may not be easily attained, but the rewards for this card truly outshine any other card I've seen.
Aug 1, 2013
Photo of Jordan W.
The PenFed Platinum Rewards credit card is a great offer that you shouldn’t pass up! This card has one of the best reward programs that I’ve seen, with huge rewards such as 5% back on gas purchases! The interest rate of 9.99% is also fairly low for a rewards credit card. Although you need excellent credit to get this card, I believe that it is very worth it when you are able to get it. I long grace period and relatively low late fee are also comparable to other rewards cards. Try and apply for this card even if you don’t think you have the credit!
Jan 11, 2013
Photo of Michael L.
I have been using the Penfed rewards card for years and I have to tell you that this is one of the best deals out there, IF you can get one. They are picky about who gets to be a member. But the rewards are well worth the hassle of going through all the screening: eg. 5% cash rebates on gas and 3% at the grocery store is just the start of the good stuff. Also since you need to open a Penfed "shares" account to get the card, check out all the Penfed Credit Union offers too! Lots of great deals on car loans and other "freebies" for members more
Mar 26, 2012
Photo of Margie C.
I’m usually more comfortable getting financial products from big name banks because I feel like they can only pull so much funny business with their national brands on the line, but a recent article recommended the PenFed Platinum Rewards Credit Card for gas purchases, so I decided to check it out nonetheless. You can all quickly check out the details of what it offers, but since making a pro/con list helps me make credit card decisions, here’s mine for the Pentagon Federal Credit Union Platinum Rewards Card:

- You get heightened rewards on two of the average consumer’s biggest expenses (gas and groceries).
- You can earn gas rewards at any station, more
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+771 users submitted a rating without a full review
Aug 19, 2014
Photo of Bev G.
My Platinum Rewards card has an expiration date of 11/13, issues to Paul Guevin for 100 dollars. How do we know if there is a balance on this card and would it still be available? Thanks.
May 26, 2014
Photo of Donna F.
Does this card have a chip in it?
May 27, 2014
Photo of Card H.
To get an answer to your question your best bet is to call PenFed's customer service at 800-581-7786.
May 30, 2012
Photo of Louis V.
Thanks for your input, it makes my choices a lot easier.
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Last updated on: Nov 6th, 2014 at 3:58 EST