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PenFed Platinum Rewards Visa Signature® Credit Card

penfed platinum rewards
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Info about the PenFed Platinum Rewards Visa Signature® Credit Card has been collected by CardHub to help consumers better compare credit cards. The card issuer did not provide the details.
Existing Cardholders
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PenFed Platinum Rewards Visa Signature® Credit Card’s Rewards

Base Earn
1 point / $1
Max Earn
5 points / $1
  • Earn $100 statement credit when you spend $1,500 in the first 90 days.
  • 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 right from PenFed Online Banking.
  • Special savings and discounts from top retailers.

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

Purchase Intro APR
Not Offered
Transfer Intro APR
0% for 12 months
Regular APR
10.24% - 18.24% (V)

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

  • MAX LATE FEE   $25
  • MAX PENALTY APR   17.99%
  • GRACE PERIOD   25 days
    10.24% - 18.24% (V)
  • SMART CHIP   Yes
  • 0% promotional rate for 12 months on transfers made July 1, 2016 - September 30, 2016
  • Complimentary 24/7 Concierge Service.
  • Travel benefits: Travel Accident Insurance, Travel and Emergency Assistance Service, Roadside Dispatch.
Apply Now
at PenFed Credit Union’s
secure site

Customer Questions and Answers

Don't see what you're looking for? Submit your question about PenFed Platinum Rewards Visa Signature® Credit Card to our community.

What credit score is needed to apply?

Photo of Card H.
Apr 12, 2016
You need excellent credit (i.e. a score of at least 720) to get this card. Keep in mind that variables such as employment status and ability to pay will also be considered.

If you’d like to see where your credit stands, and thus get a rough sense for your odds of approval, you can check your credit score for free on our sister site WalletHub: . You’ll get daily updates to your score and full credit report as well as 24/7 credit monitoring. Hope this helps!
5 Votes 6 1

Can this card be used at ATMs?

Photo of Card H.
Jun 2, 2016
Yes, you can get a cash advance at any ATM, provided that you’ve obtained a PIN from the card’s issuer, whose customer service department can be reached at 800-581-7786.

Just remember that cash advances are very expensive, as interest will immediately begin accruing at a high rate. You can learn more from our article on cash advances here: .
3 Votes 3

Sometimes they say it's 3 points for supermarkets, other times it's advertised as 'grocery'. Does anyone know if they just mean the big brands of grocery stores, or do smaller independent grocery stores also get 3 points? And do Walmart more

Photo of Card H.
Jul 26, 2016
That is confusing! Credit card issuers regularly change their marketing language like this, and the actual details are always in the terms and conditions. They say: “You will earn 3 Points per $1 for Net New Supermarket Purchases you make with the card (based on Visa Merchant Category Codes 5411).”

“Supermarket” generally means grocery store (e.g. Giant, Whole Foods, Harris Teeter), as opposed to wholesale clubs such as Costco. But you can use this helpful tool to see exactly which merchants in your area have that 5411 category code: . For what it’s worth, Target and Walmart generally fit the bill, which means purchases made there will earn you more
2 Votes 2
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Customer Reviews

Share your insights and review the PenFed Platinum Rewards Visa Signature® Credit Card.

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3.2 out of 5

1,040 reviews
Photo of Joseph M.
Dec 14, 2015
This is a great starter card !
Photo of Bobby B.
Nov 1, 2015
well--for 5000 points earned you can get a $50 gift card----BUT--- you need to redeem 5880 points for the card!! So--thats an 18% (17.6) charge!!. Applied as a front end charge--your "3x" points for grocery is NOT 3% back --its 2.46% (3% minus 18%(.54 points!). Very clever gimmick---if not downright faulty advertising.
Photo of Sean T.
Jan 13, 2016
Why are people downvoting this? It's true it's a very gimmicky system. I used to have their cash card then got switched to this. Very disappointing.
Photo of Stephen M.
Oct 21, 2015
The Pen Fed Platinum Rewards card is a good entry card for those with decent credit. If you have very good credit, you can probably get a card with better interest rates, rewards, and perks, but this is good to get you to that point. The reward bonus on money spent is nice, and the the 5% reward for gas purchases is very nice. If you had this card and used it only for gas purchases I would highly recommend it.
Photo of Scott D.
Feb 3, 2016
Which cards give better rates on gas purchases on a consistent basis?
Photo of Dexter M.
Jul 13, 2015
The PenFed Platinum Rewards Visa Signature has some nice rewards features. I like the better rewards for common purchases like gas and groceries, although that means that big, one-time purchases like plane tickets or appliances won't be earning maximum rewards. I also prefer rewards programs that just offer simple cash back instead of points to be redeemed, even if they can be redeemed for something like a Visa gift card (which is basically cash). Rates and fees are sort of standard stuff for this card, but what really stands out to me as positive is that there's no Foreign Transaction Fee. I have a USAA World Mastercard and do a more
Photo of Conrad M.
Jul 24, 2015
The defender card is 1.5 cash on everything with no fees.
Photo of Joe R.
May 15, 2015
This is a great credit card for rewards on gas and supermarkets. While there are other cards like the Chase Freedom that reward these categories, they do not last all year long like the PenFed card. The APR is high, but that is why with reward cards one should always pay off the entire balance. What would help sell this card is 0 APR for at least 12 months. This card does come without an annual fee though which is very nice. Honestly if you're looking for credit card to reward your gas and supermarket habits look no further. This card is just oozing with benefits and low fees (except the apr).
Photo of Laura J.
Apr 29, 2015
I love this card! You earn a decent amount of points that can be used for other purchases. There's a great balance transfer rate of 2.99% for 12 months right now, and that's pretty low. However I have a Discover IT card that recently offered me 0% interest on balance transfers for 18 months. There's no cash advance fee, and the interest rates on cash advances are somewhat low. This Penfed card is a great for someone who wants to use a credit card to accumulate points and get gift cards or other benefits from trading in their points.
Photo of William L.
Apr 10, 2015
The PenFed Platinum Rewards Visa Signature Card is good if you like to travel. You can earn points on purchases. You earn five points on gas purchases, three points on supermarket purchases, and one on everything else that is nice if you travel a lot. They have a nice grace period. The APR is kind of high, but there are ones that are much higher. Also if you have a balnce to transfer you APR gets dropped low on that so it would be best if you have a balance to transfer onto this card. YOu also get a lot of other travel benefits with this card. If you travel more
Photo of Jesse E.
Mar 11, 2015
The PenFed Platinum Rewards Visa Signature Credit Card is a above average card for those with above average credit. The interest rate is great, and the rewards program is good, although it could be better. 1% rewards on all purchases is nothing to celebrate, but 3% rewards on supermarket purchases could be very useful, especially to those who spend a lot of money on food. 5% rewards on gas sounds great, but you could easily achieve greater rewards by applying for a card directly from a gas station (e.g. a Valaros Credit Card).
Photo of Linda F.
Feb 25, 2015
The PenFed Platinum Rewards Credit card offers a lot of perks and benefits for cardholders who want to earn rewards for using the card. Not only do you earn 1 point per dollar spent on all purchases, but you earn even more on gas and supermarket purchases. As an added benefit, cardholders have access to premier golf benefits which is something that’s not offered with the Citi Thank You Preferred card. One thing that I don't like about this card is the 9.99% regular rate. A lower rate on such an incredible card would be nice.
Photo of Lana M.
Feb 25, 2015
PenFed's rewards program is mediocre at best. Sure, you earn a ton of points for gas and groceries. But when you want to redeem them, PenFed turns around and devalues your earned points at its whim. You no longer can redeem the points at 100:1 rate like one would expect.
Photo of Tyler M.
Jul 30, 2015
You don't need a 100:1 rate... a 100 : .85 rate is still 4.25% cash back which is more that basically any other card.
Photo of Jake P.
Dec 16, 2014
Good card if your credit is good.

There's a lot of features and rewards for this card. Nice reward incentives, low interest rate, 24/7 concierge service! That's a lot of value.

The only downside is it's very hard to get accepted unlike say a Discover Rewards card.
Photo of Alex B.
Nov 26, 2014
The PenFed Platinum Rewards Visa Signature Credit Card is fantastic if you can get accepted.

Very low interest rate, amazing rewards, and very low balance or cash advance fees.

Compare this to a card like the Capital One Journey where the interest rate is twice as much, no rewards points, and higher fees for things like Cash Advances.

If your credit is good enough for this card, don't hesitate. You won't do much better.
Photo of Katharine D.
Oct 23, 2014
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!
Photo of Michael K.
Sep 18, 2014
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.
Photo of Katelyn W.
Aug 13, 2014
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.
Photo of Jessica O.
Jul 30, 2014
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!
Photo of Indira W.
Jul 10, 2014
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!
Photo of John P.
May 21, 2014
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
Photo of Stephanie M.
Feb 3, 2014
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.
Photo of Connie C.
Jan 7, 2014
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.
Photo of Lindsay K.
Dec 16, 2013
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.
Photo of Chelsea M.
Dec 12, 2013
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.
Photo of David M.
Dec 12, 2013
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
Photo of Jess M.
Dec 9, 2013
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.
Photo of Jason B.
Dec 3, 2013
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.
Photo of John L.
Nov 15, 2013
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
Photo of Gregory S.
Nov 6, 2013
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
Photo of Adam R.
Nov 2, 2013
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
Photo of Billy M.
Oct 30, 2013
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
Photo of Kristin M.
Oct 25, 2013
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
Photo of Sam H.
Oct 17, 2013
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
Photo of John J.
Oct 14, 2013
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
Photo of Jenny T.
Oct 10, 2013
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
Photo of Sarah H.
Oct 6, 2013
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
Photo of Jesse S.
Oct 2, 2013
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
Photo of Ben M.
Sep 25, 2013
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.
Photo of Justin V.
Sep 20, 2013
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
Photo of Sheryl P.
Sep 13, 2013
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
Photo of Calvin H.
Sep 9, 2013
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.
Photo of Chris M.
Aug 26, 2013
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.
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Last updated on: Aug 6th, 2016 at 11:54 EDT

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