PenFed · Visa

Annual fee

$0

Rewards

PenFed Rewards

Earn rates

• 5x gas — Gas paid at the pump. Page: "5X points on gas and EV charging"; "On gas paid at the pump and at EV charging stations." Footnote: "Fuel purchases for airplanes and boats receive 1 point per dollar spent."
• 5x ev-charging — EV charging stations. Page: "5X points on gas and EV charging"
• 3x groceries — Supermarkets, including most Target and Walmart locations per the page footnote. Page: "3X points on groceries and restaurants"
• 3x restaurants — Page: "3X points on groceries and restaurants"
• 3x streaming-tv-cable-radio — Page: "3X points on TV/Radio/Cable/Streaming services"
• 1x other — Page: "1X Points on all other monthly purchases"; "Unlimited on all other purchases." Page also states "No caps".

Foreign transaction fee

None

Purchase APR

17.99%–17.99% variable

Typical credit

Good (~690–719), Excellent (~720+)

Issuer rules

• Credit Level Guidelines stated on the card page: "No declared bankruptcy or loan default in the last 6 months. No accounts more than 90+ days overdue in the last 3 months. No excessive credit inquiries over the last 1 month."
• PenFed membership is required and is created during the application: "Apply now and we'll create your membership during the application process."
• Signature vs Traditional benefits depend on credit line: "Your credit line is used to determine if your account qualifies for Traditional or Signature benefits. If your credit line is $5,000 or more then it qualifies for Signature benefits."
• Downgrade path stated in the card's Summary of Terms: "If you do not qualify for the PenFed Platinum Rewards Visa Signature® Card, you will automatically be considered for the PenFed Platinum Rewards Visa® Card which has different credit availability and benefits."
• Rewards exclusions: "Rewards are available only for new purchases made with the card: cash advances, cash-like transactions, credit card checks, balance transfers, and account fees are excluded and do not earn credit toward rewards."

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