Credit Cards
PenFed Platinum Rewards Visa Signature® Card review
Read our in-depth review to see if the PenFed Platinum Rewards Visa Signature® Card is right for you. This credit card offers cash back, rewards points and some attractive travel benefits.
Advertisement
PenFed Platinum Rewards Visa Signature® Card: Earn more rewards for your money!
If you’re in the market for a solid rewards card, you might be interested in this PenFed Platinum Rewards Visa Signature® Card review.
How to apply for PenFed Platinum Rewards Visa Card
Learn how the PenFed Platinum Rewards Visa Signature® Card application process works and start earning rewards on purchases today!
To get this card, you need to join the Pentagon Federal Credit Union, but doing so is an easy task.
- Credit Score: To qualify for the PenFed Platinum, you’ll need an excellent score.
- APR: New cardholders can enjoy a 0% intro APR for 12 months (after that period, a non-variable 17.99% applies). The APR on purchases varies according to creditworthiness between 16.49% and 17.99%.
- Annual Fee: The PenFed Platinum has no annual fee.
- Fees: 3% balance transfer fee during the promotional period – per transaction. Up to $28 in late payment fees, up to $25 on return payment fees.
- Welcome bonus: 15,000 Bonus Points after spending at least $1,500 on your PenFed Platinum within the first 90 days of membership.
- Rewards: With the PenFed Platinum, you’ll earn 5 points on gas and EV stations, 3 points on TV, radio, streaming services and cable. 3 points at restaurants and supermarkets, and 1 point on all other purchases.
This is one of the few Platinum cards that doesn’t have an annual fee. Cardholders will also get a great rewards rate on daily purchases.
As an added bonus, the PenFed Platinum Rewards offers an introductory APR on balance transfers and a hefty sign up bonus.
So if you’re interested in learning more about this card’s features, keep reading our PenFed Platinum Rewards Visa Signature® Card review below.
PenFed Platinum Rewards Visa Signature® Card: how does it work?
The PenFed Platinum Rewards Visa Signature® Card is a great choice for consumers looking for a rewards credit card with no annual fee.
PenFed is a credit union, so you will need to become a member to apply for this card.
PenFed membership is open to anyone who joins one of their partner organizations, such as the National Military Family Association.
Once you become a member, you are eligible to apply for the PenFed Platinum as long as you meet their financial requirements.
The card has a fantastic rewards rate and a solid welcome offer. Redeeming these rewards is easy and you can get merchandise, gift cards and travel.
The card also offers standard Visa Signature benefits such as travel and car insurance and concierge services.
You will be redirected to another website
By submitting this form, I agree that I am 18+ years old and I agree to the Privacy Policy and Terms and Conditions. I also provide my signature giving express consent to receive marketing communications via automated emails, SMS or MMS text messages and other forms of communication regarding financial products such as credit card and loans. Message frequency varies and represents our good faith effort to reach you regarding your inquiry. Message and data rates may apply. Text HELP for help or text STOP to cancel. I understand that my consent to receive communications is not a condition of purchase and I may revoke my consent at any time.
Significant benefits and disadvantages you may find
If you have an excellent credit score and a solid income, this card can be quite beneficial to you. However, there are a few drawbacks you should know before applying.
See the pros and cons next in our PenFed Platinum Rewards Visa Signature® Card review.
Benefits
- One of the few Platinum cards with no annual fee;
- Amazing rewards rate on things you spend money on regularly;
- Low introductory APR on balance transfers to help you financially;
- Great sign up bonus with a reasonable spending requirement;
- Visa Signature benefits and 24/7 fraud monitoring.
Disadvantages
- To apply for this card, you need to be a PenFed member;
- The PenFed Platinum Rewards is only available for people with an excellent score;
- There is no promotional APR offer on purchases;
- Charges a 3% fee per transaction on balance transfers.
Is a good credit score required for applicants?
PenFed uses your Equifax credit score when determining whether you qualify for the PenFed Platinum Rewards Visa Signature® Card.
So, applicants will need a score of 750 or higher to have a good chance of being approved.
PenFed also looks at your debt-to-income ratio and account history when making a decision, so it’s important to manage your finances responsibly in order to improve your chances of getting this card.
Learn how to apply and get a PenFed Platinum Rewards Visa Signature® Card
Now that you’ve read our PenFed Platinum Rewards Visa Signature® Card review, follow the link below to learn how to apply.
Once you’re a PenFed member, the process is easy and you can do it online. See below for more details.
How to apply for PenFed Platinum Rewards Visa Card
Learn how the PenFed Platinum Rewards Visa Signature® Card application process works and start earning rewards on purchases today!
About the author / Aline Barbosa
Trending Topics
Venture X Rewards Credit Card review
Check out this Venture X Rewards Credit Card review to learn why this is one of the best cards for frequent jet setters. Read on for more!
Keep Reading
Discover the Power of Mobile Betting: 10bet and Download the App
Is 10bet the ultimate gambling destination? Find out in our review as we examine its features and tell you how to download the 10bet app!
Keep Reading
Simplii Global Money Transfer: How to join and start using it easily?
Open an account today and start using Simplii Global Money Transfer to transfer money anywhere in the world with no transfer fees.
Keep ReadingYou may also like
PREMIER Bankcard® Mastercard® Credit Card review
Are you looking for a product to help you fix your score? Then look at what the PREMIER Bankcard® Mastercard® Credit Card has to offer.
Keep Reading
Wells Fargo Autograph℠ Card application
Apply for the Wells Fargo Autograph℠ Card and enjoy premium rewards like bonus points on purchases and no annual fee!
Keep Reading
Applying for SchoolsFirst Personal Loans: online application
This SchoolsFirst Federal Credit Union Personal Loans application guide will help you get your loan today!
Keep Reading